Ready to Sell Your Florida Keys, Florida Restaurant?

After years of labor, you have made the decision sell your Florida Keys, Florida restaurant

Contemplating starting a different Florida Keys, Florida restaurant, relocating, or maybe slowing down. No matter the reason, selling your Florida Keys, Florida restaurant can be way more difficult than you might think. This is because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the time you may have put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either make the decision to hire a eatery broker to help you in selling your Florida Keys, Florida restaurant or do the task on your own. If you are considering selling your Florida Keys, Florida restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Business Paperwork

This is a necessary preparatory step to make when you begin the process of offering your Florida Keys, Florida restaurant.

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

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

Corbett Restaurant Group comes with expertise to help you in the market for sale of your Florida Keys, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a possible buyer first day. But, you may want to have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Florida Keys, Florida restaurant through the lens of a buyer. This provides you a clear image of the Florida Keys, Florida restaurant you are selling. In addition, it allows you to show whether there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial documents are a crucial aspect of selling your Florida Keys, Florida restaurant. That’s the reason you should make an effort to have these documents complete and organized.

Showing your financial records to prospective buyers could assist to clear any doubt they may have concerning your Florida Keys, Florida restaurant.

These 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 the records. This will make it easier for you to transmit the records to prospective buyers.

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

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Florida Keys, Florida restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

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

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

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

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

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

#5 Increase Curb Appeal

The first impression of your Florida Keys, Florida restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall look of your Florida Keys, Florida restaurant does not look good to buyers, they could take a pass without a second look.

To prevent this from happening, everything in and out of your Florida Keys, Florida restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a clean floor are other simple items that would help create a unforgettable first impression.

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

Faulty equipment may rouse doubt about your financial situation and output capabilities. It could 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 buying your Florida Keys, Florida restaurant.

#7 look for Florida Keys Buyers

Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Florida Keys, Florida restaurant broker to help. The professional Florida Keys, Florida restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you decide to take on this project alone, you will need to create appropriate advertising. You can market your Florida Keys, Florida restaurant on listing websites and tell family and friends about your plans to sell your Florida Keys, Florida restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Florida Keys, Florida Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the transaction. The paperwork often start with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Florida Keys, Florida Restaurant Broker

Although attempting to sell your Florida Keys, Florida restaurant on your own can be an exhilarating project, it could also be quite 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 expertise to stand out against your cometitors while trying to attract buyers.

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

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

Contact a Florida Keys, Florida Restaurant Broker

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

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

Florida Keys Zip Codes We Support: 33040, 33041, 33042