Time to Sell Your Deland, Florida Restaurant?

After years of labor, you have made the decision sell your Deland, Florida restaurant

Considering opening a new eatery, moving, or even retiring. No matter the reason, selling a Deland, Florida restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough money for all the time you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either make the decision to hire a Deland, Florida restaurant broker to assist you in selling your Deland, Florida restaurant or do the task on your own. Whether considering selling your Deland, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together all Necessary Paperwork

This is a necessary preparatory step to make when you start the process of marketing your Deland, Florida restaurant.

The necessary documents may vary from state to state--even in Florida, but below is a list of a few generalized documents you may be requierd to have at hand:

• A list of your assets
• Lease contract
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection records
• Architectural drawings
• Financial statements and other important financial documents

Corbett Restaurant Group has the expertise to assist you in the sale of your Deland, Florida restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to reveal all these documents to a prospective buyer day one. However, you should have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents lets you see your Deland, Florida restaurant through the lens of a buyer. This gives you a clear picture of the Deland, Florida restaurant you're offering for sale. Furthermore, it helps you show if there are any areas you will have to take care of.

#2 Put Your Financial Records in Order

Your financial documents are a crucial part of selling your Deland, Florida restaurant. This is the reason you should strive to have these documents complete and organized.

Showing your financial records to potential buyers may help clear any hesitations they may have regarding your Deland, Florida restaurant.

These financial records could include:

• Inventory of equipment and assets
• Profit and loss statements
• Tax records
• Cash transactions
• Bank statements

In addition, make sure you have hard copies of all of the records. This will make it easier for you to send the information to potential buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these things could create legal problems for you if a buyer later on discovers these ommissions after completing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Deland, Florida restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Deland, Florida restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this will help them estimate the true value of the Deland, Florida restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Deland, Florida restaurant.

The estimated time it takes to sell a Deland, Florida restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and reduce several costs, and therefore strengthen the worth of your Deland, Florida restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will help you in deriving the probable value of your Deland, Florida restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Deland, Florida restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the general curb appeal of your Deland, Florida restaurant does not look good to buyers, they likely pass over without a second look.

To avoid this from happening, all things in and out of your Deland, Florida restaurant must be clean. Manicured and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are also small things that would help create a memorable initial impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not working properly, it might send the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial situation and production abilities. It can even lower the morale of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning buying your Deland, Florida restaurant.

#7 look for Deland Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Deland, Florida restaurant broker to help. The professional Deland, Florida restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this task alone, you will need to create appropriate advertising. You can list your Deland, Florida restaurant on listing websites and tell family and friends about your plans to market for sale your Deland, Florida restaurant.

As you will probably come across competition when trying to sell your Deland, Florida restaurant, you need your restaurant to stand out.

#8 Be Ready

Regardless if you decide to sell your Deland, Florida restaurant yourself, or through a Deland, Florida restaurant broker, you need to always be prepared. Be ready to show your Deland, Florida restaurant to potential buyers at all times.

You will never know when a buyer could walk into your Deland, Florida restaurant. Some buyers might even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your Deland, Florida Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the deal. The documentation will likely begin with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details including the selling price of your Deland, Florida restaurant, assets and equipment and inventory value.

Choosing a Deland, Florida Restaurant Broker

Although attempting to sell your Deland, Florida restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

It's true, in order for you to get the most from of the business deal, you need some level of experience to stand above and against the competition while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Deland, Florida restaurant broker is needed. A Deland, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Deland, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

With the assistance of a Deland, Florida restaurant broker, you can maintain your undivided attention on operating your Deland, Florida restaurant and rest easy knowing that a professional is in charge of selling your Deland, Florida restaurant.

Contact a Deland, Florida Restaurant Broker

Deciding to sell your Deland, Florida restaurant through a Deland, Florida restaurant broker has multiple advantages. First, however, you need to select the best Deland, Florida restaurant broker to assist you in selling your Deland, Florida restaurant.

At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Deland, Florida restaurant. And, we work harder than any other Deland broker to secure the best deal for your restaurant and at the highest sale value.

Contact Corbett Restaurant Group today and let us help you sell your Deland, Florida restaurant for a great price.

Deland Zip Codes We Support: 32720, 32721, 32723, 32724