Right Time to Sell Your Delray Beach, Florida Restaurant?

After years of hard work, you have made the decision sell your Delray Beach, Florida restaurant

Considering opening a different eatery, moving, or even retiring. No matter the reason, selling a Delray Beach, Florida restaurant can be way more complicated than you might think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You can either make the decision to contract with a eatery broker to assist you in selling your Delray Beach, Florida restaurant or do the task on your own. Whether considering selling your Delray Beach, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Necessary Paperwork

This is an important first step to make when you begin the process of marketing your Delray Beach, Florida restaurant.

The necessary documents may vary from state to state--even in Florida, but the following is a list of a few generalized documents you may need to have ready:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Delray Beach, Florida restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to show all these documents to a prospective buyer right away. However, you should have them ready because you will certainly require them during the sales process.

In addition, compiling these documents lets you see your Delray Beach, Florida restaurant through the lens of a buyer. This gives you a clear image of the Delray Beach, Florida restaurant you're offering for sale. In addition, it allows you to show whether there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your Delray Beach, Florida restaurant. This is the reason you should make an effort to make your documents accurate and organized.

Showing your financial records to possible buyers could help clear any hesitations they might have concerning your Delray Beach, Florida restaurant.

Your financial documents could include:

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

In addition, ensure you have duplicate copies of all of the documents. This could make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later discovers these liabilities post closing the deal.

#3 Organize the Information On Your Commercial Lease

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

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Delray Beach, Florida restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this helps with estimating the true value of the Delray Beach, Florida restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow starting to sell your Delray Beach, Florida restaurant.

The estimated time it may take to sell a Delray Beach, Florida restaurant is six months. Within those six months, there are many things you can do to increase your profit and slash several costs, and therefore increase the value of your Delray Beach, Florida restaurant.

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

This could aid you in estimating the probable worth of your Delray Beach, Florida restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Delray Beach, Florida restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the general aesthetic of your Delray Beach, Florida restaurant does not appeal to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your Delray Beach, Florida restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create curb appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are other simple things that would help create a great initial impression.

Furthermore, you should make sure all the equipment is in top condition. If your equipment is not functioning, it may send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and production abilities. It could even dampen the mood of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding purchasing your Delray Beach, Florida restaurant.

#7 look for Delray Beach Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Delray Beach, Florida restaurant broker to help. The professional Delray Beach, Florida restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to create proper advertising. You can market your Delray Beach, Florida restaurant on business websites and let your family and friends know about your plans to market for sale your Delray Beach, Florida restaurant.

As you will probably run across competition when trying to sell your Delray Beach, Florida restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Delray Beach, Florida restaurant yourself, or with a a Delray Beach, Florida restaurant broker, you need to always be prepared. Be ready to show your Delray Beach, Florida restaurant to potential buyers at all times.

You'll never know when a buyer could visit your Delray Beach, Florida restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.

#9 Sell Your Delray Beach, Florida Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. The documentation often start with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your Delray Beach, Florida restaurant, assets and equipment and inventory value.

Choosing a Delray Beach, Florida Restaurant Broker

While trying to sell your Delray Beach, Florida restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business deal, you need a higher level of expertise to stand out against the cometitors while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Delray Beach, Florida restaurant broker comes in. A Delray Beach, Florida restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Delray Beach, Florida restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

With the help of a Delray Beach, Florida restaurant broker, you can focus your undivided attention on operating your Delray Beach, Florida restaurant and rest easy with the knowledge that a professional is in charge of selling your Delray Beach, Florida restaurant.

Contact a Delray Beach, Florida Restaurant Broker

Choosing to sell your Delray Beach, Florida restaurant through a Delray Beach, Florida restaurant broker has many advantages. First, however, you need to select the best Delray Beach, Florida restaurant broker to assist you in selling your Delray Beach, Florida restaurant.

At Corbett Restaurant Brokers, we consider it our honor to represent you in the sale of your Delray Beach, Florida restaurant. And, we work harder than any other Delray Beach 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 Delray Beach, Florida restaurant for a great price.

Delray Beach Zip Codes We Support: 33444, 33445, 33446, 33447, 33448, 33482, 33483, 33484