Right Time to Sell Your Fort Myers, Florida Restaurant?

Following years of hard work, you have decided to sell your Fort Myers, Florida restaurant

Considering starting a different eatery, relocating, or maybe retiring. Regardless of the reason, selling your Fort Myers, Florida restaurant can be way more complicated than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the sweat you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either decide to hire a eatery broker to guide you in selling your Fort Myers, Florida restaurant or take on the task yourself. Whether considering selling your Fort Myers, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together the Necessary Paperwork

This is an important preparatory step to make when you commence the process of offering your Fort Myers, Florida restaurant.

The necessary documents may vary from state to state--even in Florida, but the following is a list of some standard documents you may find helpful to have on you:

• A list of 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 has the expertise to assist you in the sale of your Fort Myers, Florida restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a prospective buyer right away. But, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your Fort Myers, Florida restaurant through the lens of a buyer. It provides you a clear image of the Fort Myers, Florida restaurant you're offering for sale. In addition, it helps you identify if there are any concerns you will need to address.

#2 Get Your Financials in Order

Your financial records are a crucial aspect of selling your Fort Myers, Florida restaurant. This is the reason you should make it a priority to have these documents accurate and well organized.

Offering your financial records to prospective buyers may help clear any hesitations they may have regarding your Fort Myers, Florida restaurant.

The financial records could include:

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

In addition, ensure you have soft copies of all of the records. This can make it easier for you to send the information to potential buyers.

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

#3 Organize the Information On Your Commercial Lease

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

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Fort Myers, Florida restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the value of your Fort Myers, Florida restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow planning to sell your Fort Myers, Florida restaurant.

The average time it takes to sell a Fort Myers, Florida restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and reduce several costs, and therefore strengthen the value of your Fort Myers, Florida restaurant.

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

This could assist you in estimating the probable value of your Fort Myers, Florida restaurant. If you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Fort Myers, Florida restaurant will go a long way in helping you attract potential buyers. Alternatively, if the general appearance of your Fort Myers, Florida restaurant does not appeal to buyers, they likely take a pass without consideration.

To prevent this from happening, everything in and out of your Fort Myers, Florida restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create curb appeal for potential buyers.

Spot-free windows, polished door handles and a clean floor are also small things that could help create a unforgettable first impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working, it may convey the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial status and production capabilities. It could even lower the mood of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning buying your Fort Myers, Florida restaurant.

#7 Search for Fort Myers Buyers

Looking for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced Fort Myers, Florida restaurant broker to help. The professional Fort Myers, Florida restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project alone, you will need to carry out appropriate advertising. You can offer your Fort Myers, Florida restaurant on business websites and let your family and friends know about your intentions to sell your Fort Myers, Florida restaurant.

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

#8 Be Prepared

Whether you decide to sell your Fort Myers, Florida restaurant yourself, or through a Fort Myers, Florida restaurant broker, you need to always be prepared. Be prepared to show your Fort Myers, Florida restaurant to prospective buyers at all times.

You'll never know when a buyer will walk into your Fort Myers, Florida restaurant. Some buyers may even come in as customers just to carry out some research before contacting you.

#9 Sell Your Fort Myers, Florida Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the deal. The documentation will usually start with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Fort Myers, Florida Restaurant Broker

Although trying to sell your Fort Myers, Florida restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

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

Expertise is also vital during negotiations with potential buyers. This is where an experienced Fort Myers, Florida restaurant broker is recommended. A Fort Myers, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Fort Myers, Florida restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Fort Myers, Florida Restaurant Broker

Deciding to sell your Fort Myers, Florida restaurant through a Fort Myers, Florida restaurant broker has many advantages. First, however, you need to select the best Fort Myers, Florida restaurant broker to assist you in selling your Fort Myers, Florida restaurant.

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

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