Are You Ready to Sell Your Doral, Florida Restaurant?

After years of labor, you have decided to sell your Doral, Florida restaurant

Considering starting a new eatery, relocating, or even slowing down. No matter the reason, selling a Doral, Florida restaurant can be a lot more difficult than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the time you’ve put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either decide to hire a Doral, Florida restaurant broker to assist you in selling your Doral, Florida restaurant or do the task on your own. Whether considering selling your Doral, Florida restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together all Business Paperwork

This is an important initial step to make when you begin the process of selling your Doral, Florida restaurant.

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

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

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

It's probably best not to show the majority of these documents to a potrntial buyer first day. But, you should have them at hand because you will eventually need them during the sales process.

Also, compiling these documents lets you view your Doral, Florida restaurant through the lens of a buyer. This provides you a clear picture of the Doral, Florida restaurant you're selling. In addition, it allows you to identify if there are any loopholes you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial detail of selling your Doral, Florida restaurant. That’s why you should strive to have these documents accurate and well organized.

Offering your financial records to prospective buyers could help clear any doubt they might have concerning your Doral, Florida restaurant.

These financial documents may include:

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

Also, ensure you have duplicate copies of all of the documents. This can make it easier for you to transmit the documentation to prospective buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these items can create legal issues for you if a buyer later discovers these liabilities after sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Doral, Florida restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Doral, Florida restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the true value of the Doral, Florida restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow starting to sell your Doral, Florida restaurant.

The average time it takes to sell a Doral, Florida restaurant is 6 months. Within those six months, there is a lot you can do to increase your profit and cut various costs, and thus strengthen the worth of your Doral, Florida restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This will help you in estimating the overall value of your Doral, Florida restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Doral, Florida restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general look of your Doral, Florida restaurant does not look good to buyers, they might take a pass right off the bat.

To prevent this from happening, everything in and out of your Doral, Florida restaurant must be cleaned and maintained. Landscaped and a clean parking area may help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also simple items that would help create a memorable initial impression.

Additionally, you should ensure all the equipment is in satisfactory condition. If your equipment is not working properly, it might convey the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial capabilities and output capabilities. It may even dampen the mood of your staff, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning purchasing your Doral, Florida restaurant.

#7 look for Doral Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Doral, Florida restaurant broker to help. A professional Doral, Florida restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to carry out appropriate advertising. You can offer your Doral, Florida restaurant on listing websites and tell family and friends about your plans to market for sale your Doral, Florida restaurant.

As you will likely run across competition when trying to sell your Doral, Florida restaurant, you need your restaurant to stand out.

#8 Be Ready

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

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

#9 Sell Your Doral, Florida Restaurant

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

You may need your attorney’s expertise in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This document includes details such as the selling price of your Doral, Florida restaurant, items and equipment and inventory value.

Choosing a Doral, Florida Restaurant Broker

While attempting to sell your Doral, Florida restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

It's true, in order for you to achieve the most from of the business deal, you need some level of experience in order to stand out against the cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Doral, Florida restaurant broker is recommended. A Doral, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Doral, Florida restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Doral, Florida Restaurant Broker

Choosing to sell your Doral, Florida restaurant through a Doral, Florida restaurant broker has several advantages. First, however, you need to select the best Doral, Florida restaurant broker to help you in selling your Doral, Florida restaurant.

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

Doral Zip Codes We Support: 33122, 33126, 33166, 33172, 33178