Right Time to Sell Your Sunrise, Florida Restaurant?

Following years of sweat equity, you have made the decision sell your Sunrise, Florida restaurant

Considering opening a different eatery, relocating, or even retiring. No matter the reason, selling a Sunrise, Florida restaurant can be a lot more difficult than you might think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either make the decision to hire a Sunrise, Florida restaurant broker to assist you in selling your Sunrise, Florida restaurant or take on the task on your own. Whether considering selling your Sunrise, Florida restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Important Paperwork

This is a necessary preparatory step to make when you commence the process of marketing your Sunrise, 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 need to have ready:

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

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

It's probably smart not to show all these documents to a possible 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 see your Sunrise, Florida restaurant through the lens of a buyer. It provides you a clear image of the Sunrise, Florida restaurant you are offering for sale. In addition, it helps you show whether there are any concerns you will need to take care of.

#2 Put Your Financials in Order

Your financial documents are an important detail of selling your Sunrise, Florida restaurant. This is the reason you should make it a priority to have your documents complete and organized.

Offering your financial records to potential buyers could aid clear any hesitations they may have regarding your Sunrise, 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 these records. This may make it easier for you to transmit the information to prospective buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these items could create legal issues for you if a buyer later on discovers these liabilities post signing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Sunrise, Florida restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Sunrise, Florida restaurant and to potentially 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 will help them estimate the value of your Sunrise, Florida restaurant.

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

The estimated time it may take to sell a Sunrise, Florida restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and slash various costs, and thus increase the value of your Sunrise, 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 aid you in estimating the overall value of your Sunrise, Florida restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Sunrise, Florida restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Sunrise, Florida restaurant does not appeal to buyers, they could take a pass without a second look.

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

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

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

Non-functional equipment could raise doubt about your financial capabilities and output capabilities. It can even dampen the mood of your staff, which in response, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your Sunrise, Florida restaurant.

#7 look for Sunrise Buyers

Marketing to prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire a professional Sunrise, Florida restaurant broker to help. A professional Sunrise, Florida restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you make the decision to handle this project alone, you will need to carry out appropriate advertising. You can market your Sunrise, Florida restaurant on business websites and tell family and friends about your plans to sell your Sunrise, Florida restaurant.

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

#8 Be Prepared

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

You never know when a buyer will walk into your Sunrise, Florida restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Sunrise, Florida Restaurant

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

You may need your attorney’s expertise in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Sunrise, Florida Restaurant Broker

Although trying to sell your Sunrise, Florida restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business deal, you need a higher level of expertise to stand out against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Sunrise, Florida restaurant broker is recommended. A Sunrise, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Sunrise, Florida restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Sunrise, Florida Restaurant Broker

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

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

Sunrise Zip Codes We Support: 33313, 33322, 33323, 33325, 33326, 33351