Right Time to Sell Your East Lake Orient Park, Florida Restaurant?

After years of hard work, you have made the decision sell your East Lake Orient Park, Florida restaurant

Contemplating opening a new eatery, moving, or even retiring. Regardless of the reason, selling a East Lake Orient Park, Florida restaurant can be way more complicated than you may think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the labor you may have put into it.

Important Steps to Consider when Selling Your Restaurant

You can either think to hire a eatery broker to guide you in selling your East Lake Orient Park, Florida restaurant or take on the task on your own. Whether considering selling your East Lake Orient Park, Florida restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Important Documentation

This is an important first step to make when you start the process of marketing your East Lake Orient Park, Florida restaurant.

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

• A list of your assets
• Lease contract
• 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 East Lake Orient Park, Florida restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to reveal all these documents to a possible buyer day one. But, you should have them on hand because you will eventually need them during the sales process.

Also, compiling these documents allows you to view your East Lake Orient Park, Florida restaurant through the lens of a buyer. It gives you a clear picture of the East Lake Orient Park, Florida restaurant you're selling. In addition, it allows you to identify whether there are any loopholes you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial aspect of selling your East Lake Orient Park, Florida restaurant. This is why you should make it a priority to make your documents complete and organized.

Showing your financial documents to possible buyers could help clear any doubt they may have concerning your East Lake Orient Park, Florida restaurant.

These financial documents could 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 these documents. This will make it easier for you to transmit the information to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these things can create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your East Lake Orient Park, Florida restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your East Lake Orient Park, Florida restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this helps them estimate the true value of your East Lake Orient Park, Florida restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to build your cash flow starting to sell your East Lake Orient Park, Florida restaurant.

The average time it may take to sell a East Lake Orient Park, Florida restaurant is six months. Within those six months, there are several things you can do in order to strengthen your profit and reduce various costs, and thus increase the value of your East Lake Orient Park, Florida restaurant.

Also, when it comes 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 assist you in coming up with the probable worth of your East Lake Orient Park, Florida restaurant. When you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your East Lake Orient Park, Florida restaurant could go a long way in helping you attract potential buyers. Alternatively, if the overall look of your East Lake Orient Park, Florida restaurant does not look good to buyers, they likely take a pass right off the bat.

To prevent this from happening, everything in and out of your East Lake Orient Park, Florida restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also simple items that could help create a unforgettable initial impression.

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

Non-functional equipment may rouse doubt about your financial situation and production abilities. It can even dampen the mood of your employees, 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 purchasing your East Lake Orient Park, Florida restaurant.

#7 Search for East Lake Orient Park Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire an experienced East Lake Orient Park, Florida restaurant broker to help. The professional East Lake Orient Park, Florida restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this project alone, you will need to create proper advertising. You can market your East Lake Orient Park, Florida restaurant on business websites and tell family and friends about your plans to sell your East Lake Orient Park, Florida restaurant.

As you will likely run across competition when trying to sell your East Lake Orient Park, Florida restaurant, you need your restaurant to stand out.

#8 Be Ready

Whether you decide to sell your East Lake Orient Park, Florida restaurant yourself, or through a East Lake Orient Park, Florida restaurant broker, you need to always be prepared. Be prepared to show your East Lake Orient Park, Florida restaurant to potential buyers at all times.

You never know when a buyer will visit your East Lake Orient Park, Florida restaurant. Some buyers may even come in as customers just to carry out some research before contacting you.

#9 Sell Your East Lake Orient Park, Florida Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the contract. The documentation will usually start with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details such as the selling price of your East Lake Orient Park, Florida restaurant, items and equipment and inventory value.

Choosing a East Lake Orient Park, Florida Restaurant Broker

While trying to sell your East Lake Orient Park, Florida restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

The fact remains, in order for you to achieve the most from of the business transaction, you need a higher level of experience to stand above and against your cometitors while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced East Lake Orient Park, Florida restaurant broker is needed. A East Lake Orient Park, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your East Lake Orient Park, Florida restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

With the help of a East Lake Orient Park, Florida restaurant broker, you can focus your undivided attention on operating your East Lake Orient Park, Florida restaurant and rest easy knowing that a professional is in charge of selling your East Lake Orient Park, Florida restaurant.

Contact a East Lake Orient Park, Florida Restaurant Broker

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

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

East Lake Orient Park Zip Codes We Support: 33584, 33610, 33617, 33619, 33637