Time to Sell Your Hallandale Beach, Florida Restaurant?

Following years of labor, you have decided to sell your Hallandale Beach, Florida restaurant

Contemplating opening a different Hallandale Beach, Florida restaurant, moving, or even retiring. Regardless of the reason, selling your Hallandale Beach, Florida restaurant can be a lot more difficult than you might realize. This is because it takes careful preparation and a solid strategy to successfully exit with enough money for all the sweat you may have put into it.

Important Steps to Take when Selling Your Restaurant

You can either think to hire a eatery broker to help you in selling your Hallandale Beach, Florida restaurant or do the task on your own. Whether considering selling your Hallandale Beach, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Paperwork

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

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

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

Corbett Restaurant Group has the experience to help you in the market for sale of your Hallandale Beach, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show all these documents to a possible buyer day one. However, you should have them on hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you view your Hallandale Beach, Florida restaurant through the lens of a buyer. It gives you a clear picture of the Hallandale Beach, Florida restaurant you are selling. Furthermore, it allows you to identify if there are any loopholes you will need to address.

#2 Put Your Financial Records in Order

Your financial records are an important aspect of selling your Hallandale Beach, Florida restaurant. That’s why you should strive to have these documents accurate and organized.

Offering your financial documents to possible buyers could help clear any doubt they may have concerning your Hallandale Beach, Florida restaurant.

The financial documents could include:

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

Also, ensure you have soft copies of all of these records. This may make it easier for you to transmit the records to potential buyers.

Likewise, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things can create legal issues for you if a buyer later discovers these ommissions post closing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Hallandale Beach, Florida restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Hallandale Beach, Florida restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the value of your Hallandale Beach, Florida restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow before trying to sell your Hallandale Beach, Florida restaurant.

The estimated time it may take to sell a Hallandale Beach, Florida restaurant is six months. Within the six months, there is a lot you can do to strengthen your profit and reduce various costs, and therefore strengthen the worth of your Hallandale Beach, Florida restaurant.

Also, with regards 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 coming up with the probable value of your Hallandale Beach, Florida restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Hallandale Beach, Florida restaurant could go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Hallandale Beach, Florida restaurant does not appeal to buyers, they likely pass over immediately.

To avoid this from happening, all things in and out of your Hallandale Beach, Florida restaurant must be clean. Manicured and a clean parking area could help create appeal for potential buyers.

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

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

Non-functional equipment may rouse doubt about your financial status and production capabilities. It may even dampen the morale 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 buying your Hallandale Beach, Florida restaurant.

#7 Search for Hallandale Beach Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Hallandale Beach, Florida restaurant broker to help. The professional Hallandale Beach, Florida restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this task yourself, you will need to carry out proper advertising. You can list your Hallandale Beach, Florida restaurant on business websites and tell family and friends about your intentions to sell your Hallandale Beach, Florida restaurant.

As you will likely come across competition when trying to sell your Hallandale Beach, Florida restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You'll never know when a buyer could walk into your Hallandale Beach, Florida restaurant. Some buyers might even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Hallandale Beach, Florida Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

This document includes details such as the selling price of your Hallandale Beach, Florida restaurant, items and equipment as well as inventory value.

Choosing a Hallandale Beach, Florida Restaurant Broker

While attempting to sell your Hallandale Beach, Florida restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most out of the business transaction, you need some level of experience to stand above and against the cometitors while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Hallandale Beach, Florida restaurant broker is recommended. A Hallandale Beach, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Hallandale Beach, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

With the assistance of a Hallandale Beach, Florida restaurant broker, you can focus your undivided attention on operating your Hallandale Beach, Florida restaurant and rest easy knowing that a professional is in charge of selling your Hallandale Beach, Florida restaurant.

Contact a Hallandale Beach, Florida Restaurant Broker

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

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

Hallandale Beach Zip Codes We Support: 33008, 33009