Right Time to Sell Your Golden Glades, Florida Restaurant?

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

Considering starting a new eatery, moving, or even slowing down. Regardless of the reason, selling a Golden Glades, Florida restaurant can be a lot more difficult 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 Take when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Golden Glades, Florida restaurant or take on the task yourself. Whether considering selling your Golden Glades, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Business Paperwork

This is an important initial step to take when you begin the process of selling your Golden Glades, Florida restaurant.

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

• 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 experience to assist you in the sale of your Golden Glades, 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 potrntial buyer right away. However, you should have them on hand because you will certainly need them during the sales process.

Also, putting together these documents lets you view your Golden Glades, Florida restaurant through the lens of a buyer. It gives you a clear image of the Golden Glades, Florida restaurant you are offering for sale. In addition, it helps you show whether there are any areas you will need to address.

#2 Put Your Financial Documents in Order

Your financial records are an important detail of selling your Golden Glades, Florida restaurant. This is the reason you should make it a priority to make your documents accurate and organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they might have concerning your Golden Glades, Florida restaurant.

The financial records can include:

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

Also, make sure you have soft copies of all of these records. This could make it easier for you to send the documentation to prospective buyers.

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

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Golden Glades, Florida restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Golden Glades, Florida restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this will help them estimate the true value of your Golden Glades, Florida restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your Golden Glades, Florida restaurant.

The estimated time it takes to sell a Golden Glades, Florida restaurant is 6 months. Within those six months, there are several things you can do to strengthen your profit and slash various costs, and therefore strengthen the worth of your Golden Glades, 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 will assist you in estimating the probable value of your Golden Glades, Florida restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Golden Glades, Florida restaurant will go a long way in helping you attract potential buyers. Alternatively, if the overall appearance of your Golden Glades, Florida restaurant does not appeal to buyers, they likely pass over without a second look.

To avoid this from happening, everything in and out of your Golden Glades, Florida restaurant must be clean. Manicured and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished handles and a neat floor are other small things that could help create a memorable first impression.

Additionally, you should make sure all your equipment is in top condition. If your equipment is not functioning, it can send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial capabilities and output capabilities. It could even lower the excitment 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 prospective buyers concerning purchasing your Golden Glades, Florida restaurant.

#7 Search for Golden Glades Buyers

Searching for potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Golden Glades, Florida restaurant broker to help. A professional Golden Glades, Florida restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can offer your Golden Glades, Florida restaurant on business websites and let your family and friends know about your plans to sell your Golden Glades, Florida restaurant.

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

#8 Be Prepared

Whether you decide to sell your Golden Glades, Florida restaurant yourself, or through a Golden Glades, Florida restaurant broker, you should always be ready. Be prepared to show your Golden Glades, Florida restaurant to prospective buyers at all times.

You never know when a buyer could visit your Golden Glades, Florida restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Golden Glades, Florida Restaurant

This is the remaining 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 often start with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details including the selling price of your Golden Glades, Florida restaurant, assets and equipment and inventory value.

Choosing a Golden Glades, Florida Restaurant Broker

While trying to sell your Golden Glades, Florida restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first time sellers.

It's true, in order for you to get the most from of the business transaction, you need some level of experience in order to stand out against the cometitors while trying to attract buyers.

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

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

Contact a Golden Glades, Florida Restaurant Broker

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

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

Golden Glades Zip Codes We Support: 33054, 33161, 33162, 33167, 33168, 33169, 33181