Right Time to Sell Your Edgewater, Florida Restaurant?

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

Contemplating starting a new Edgewater, Florida restaurant, relocating, or maybe retiring. No matter the reason, selling your Edgewater, Florida restaurant can be a lot more challenging than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the labor you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either decide to contract with a Edgewater, Florida restaurant broker to guide you in selling your Edgewater, Florida restaurant or take on the task yourself. If you are considering selling your Edgewater, Florida restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Business Paperwork

This is an important first step to make when you start the process of selling your Edgewater, Florida restaurant.

The required paperwork may vary from state to state--even in Florida, but the following is a list of some general documents you may be requierd 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 drawings
• Financial statements and other important financial documents

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

You certainly do not want to reveal the majority of these documents to a potrntial buyer day one. However, you may want to have them ready because you will eventually need them during the sales process.

Also, compiling these documents allows you to see your Edgewater, Florida restaurant through the lens of a buyer. This gives you a clear image of the Edgewater, Florida restaurant you are selling. In addition, it helps you identify if there are any concerns you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important detail of selling your Edgewater, Florida restaurant. This is why you should make an effort to have these documents accurate and organized.

Showing your financial records to potential buyers could help clear any doubt they might have regarding your Edgewater, Florida restaurant.

Your financial documents could include:

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

In addition, make sure you have soft copies of all of these documents. This could make it easier for you to transmit the information to potential buyers.

Likewise, as a seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these ommissions after completing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Edgewater, Florida restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Edgewater, Florida restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the true value of the Edgewater, Florida restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow starting to sell your Edgewater, Florida restaurant.

The average time it may take to sell a Edgewater, Florida restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and reduce various costs, and thus increase the value of your Edgewater, Florida restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may aid you in coming up with the overall worth of your Edgewater, Florida restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Edgewater, Florida restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall aesthetic of your Edgewater, Florida restaurant does not look good to buyers, they likely take a pass without consideration.

To prevent this from happening, all things in and out of your Edgewater, Florida restaurant must be clean. Landscaped and a clean parking lot can help create appeal for potential buyers.

Spot-free windows, polished handles and a neat floor are other simple things that could help create a memorable first impression.

Additionally, you should ensure all your equipment is in top condition. If your equipment is not working, it could send the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial situation and output capabilities. It could even lower the morale of your staff, and 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 purchasing your Edgewater, Florida restaurant.

#7 Search for Edgewater Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Edgewater, Florida restaurant broker to help. The professional Edgewater, Florida restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to take on this task yourself, you will need to create proper advertising. You can offer your Edgewater, Florida restaurant on business websites and tell family and friends about your intentions to sell your Edgewater, Florida restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Edgewater, Florida restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Edgewater, 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 finalize the transaction. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the transaction.

This document includes details including the selling price of your Edgewater, Florida restaurant, items and equipment and inventory value.

Choosing a Edgewater, Florida Restaurant Broker

Although attempting to sell your Edgewater, Florida restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business transaction, you need some level of experience to stand out against your competition while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Edgewater, Florida restaurant broker is needed. A Edgewater, Florida restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Edgewater, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Edgewater, Florida Restaurant Broker

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

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

Edgewater Zip Codes We Support: 32132, 32141, 32168