Are You Ready to Sell Your Dunedin, Florida Restaurant?

Following years of sweat equity, you have decided to sell your Dunedin, Florida restaurant

Contemplating opening a new Dunedin, Florida restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Dunedin, Florida restaurant can be a lot more complicated than you might realize. Thats because it takes careful preparation and a solid strategy to successfully get out with enough money for all the sweat you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to contract with a Dunedin, Florida restaurant broker to assist you in selling your Dunedin, Florida restaurant or take on the task on your own. If you are considering selling your Dunedin, 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 Documentation

This is a necessary first step to take when you start the process of marketing your Dunedin, Florida restaurant.

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

• 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 experience to help you in the market for sale of your Dunedin, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a possible buyer first day. However, you should have them ready because you will certainly need them during the sales process.

In addition, putting together these documents allows you to see your Dunedin, Florida restaurant through the lens of a buyer. It provides you a clear image of the Dunedin, Florida restaurant you are selling. Furthermore, it helps you show if there are any concerns you will have to address.

#2 Get Your Financials in Order

Your financial documents are a crucial part of selling your Dunedin, Florida restaurant. This is why you should make it a priority to have these documents accurate and well organized.

Showing your financial records to potential buyers could help clear any hesitations they might have concerning your Dunedin, Florida restaurant.

These financial records may include:

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

In addition, make sure you have duplicate copies of all of the documents. This can make it easier for you to send the records to possible buyers.

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

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Dunedin, Florida restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Dunedin, Florida restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the true value of the Dunedin, 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 Dunedin, Florida restaurant.

The average time it may take to sell a Dunedin, Florida restaurant is 6 months. Within the six months, there are many things you can do in order to increase your profit and cut various costs, and thus increase the worth of your Dunedin, Florida restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could aid you in deriving the overall value of your Dunedin, Florida restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Dunedin, Florida restaurant could go a long way in helping you attract potential buyers. Conversely, if the general aesthetic of your Dunedin, Florida restaurant does not appeal to buyers, they likely take a pass immediately.

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

Spot-free windows, polished handles and a clean floor are also easy things that would help create a memorable initial impression.

Furthermore, you should ensure that all your equipment is in satisfactory condition. If your equipment is not working properly, it can 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 output capabilities. It can even lower the excitment of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Dunedin Buyers

Marketing to prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Dunedin, Florida restaurant broker to help. The professional Dunedin, Florida restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can show your Dunedin, Florida restaurant on listing websites and tell family and friends about your intentions to market for sale your Dunedin, Florida restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Dunedin, Florida restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Dunedin, Florida Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The paperwork will likely start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Dunedin, Florida Restaurant Broker

Although trying to sell your Dunedin, 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 out of the business transaction, you need a higher level of experience in order to stand above and against the cometitors while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Dunedin, Florida restaurant broker comes in. A Dunedin, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Dunedin, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

With the help of a Dunedin, Florida restaurant broker, you can maintain your undivided attention on operating your Dunedin, Florida restaurant and rest assured with the knowledge that a professional is in charge of selling your Dunedin, Florida restaurant.

Contact a Dunedin, Florida Restaurant Broker

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

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

Dunedin Zip Codes We Support: 33763, 33767, 34683, 34697, 34698