Decided to Sell Your Haines City, Florida Restaurant?

After years of sweat equity, you have decided to sell your Haines City, Florida restaurant

Considering starting a different eatery, relocating, or maybe retiring. No matter the reason, selling your Haines City, Florida restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the sweat you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your Haines City, Florida restaurant or take on the task on your own. If you are considering selling your Haines City, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Business Paperwork

This is a necessary first step to take when you begin the process of offering your Haines City, Florida restaurant.

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

• A list of your assets
• Lease document
• 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 experience to assist you in the sale of your Haines City, Florida restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, compiling these documents lets you see your Haines City, Florida restaurant through the lens of a buyer. It gives you a clear image of the Haines City, Florida restaurant you're selling. In addition, it allows you to identify if there are any loopholes you will need to take care of.

#2 Put Your Financials in Order

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

Showing your financial documents to possible buyers may aid clear any hesitations they may have regarding your Haines City, Florida restaurant.

Your financial records could include:

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

Also, make sure you have hard copies of all of these documents. This can make it easier for you to send the records to potential buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items could create legal issues for you if a buyer later discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Haines City, Florida restaurant, you need to review of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Haines City, Florida restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the value of the Haines City, Florida restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow planning to sell your Haines City, Florida restaurant.

The estimated time it may take to sell a Haines City, Florida restaurant is six months. Within those six months, there are many things you can do to increase your profit and cut several costs, and therefore strengthen the value of your Haines City, Florida restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could assist you in deriving the probable value of your Haines City, Florida restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Haines City, Florida restaurant could go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Haines City, Florida restaurant does not look good to buyers, they might pass over without a second look.

To avoid this from happening, everything in and out of your Haines City, Florida restaurant must be clean. Landscaping and a clean parking area could help create appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are also easy items that would help create a great first impression.

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

Faulty equipment may rouse doubt about your financial status and production capabilities. It could even lower the excitment of your staff, which in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Haines City, Florida restaurant.

#7 Search for Haines City Buyers

Marketing to prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Haines City, Florida restaurant broker to help. The professional Haines City, Florida restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this project by yourself, you will need to create proper advertising. You can offer your Haines City, Florida restaurant on listing websites and tell family and friends about your plans to market for sale your Haines City, Florida restaurant.

As you will probably come across competition when trying to sell your Haines City, Florida restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

You never know when a buyer will walk into your Haines City, Florida restaurant. Some buyers may even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Haines City, Florida Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

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

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

Choosing a Haines City, Florida Restaurant Broker

Although trying to sell your Haines City, 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 get the most from of the business transaction, you need some level of experience in order to stand out against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Haines City, Florida restaurant broker comes in. A Haines City, Florida restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Haines City, Florida restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Haines City, Florida Restaurant Broker

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

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

Haines City Zip Codes We Support: 33837, 33844, 33845