Decided to Sell Your West Pensacola, Florida Restaurant?

Following years of hard work, you have made the decision sell your West Pensacola, Florida restaurant

Considering opening a new eatery, moving, or even slowing down. Regardless of the reason, selling a West Pensacola, Florida restaurant can be way more difficult than you might think. This is because it takes careful preparation and a solid game plan to successfully exit with enough money for all the time you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You can either decide to contract with a eatery broker to help you in selling your West Pensacola, Florida restaurant or do the task yourself. Whether considering selling your West Pensacola, Florida restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Business Paperwork

This is an important preparatory step to take when you commence the process of selling your West Pensacola, Florida restaurant.

The required documents may vary from state to state--even in Florida, but below is a list of a few generalized documents you may need to have ready:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your West Pensacola, Florida restaurant. Call today for a no strings attached business review at (888) 266-5182.

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

Also, compiling these documents allows you to see your West Pensacola, Florida restaurant through the lens of a buyer. This provides you a clear picture of the West Pensacola, Florida restaurant you're offering for sale. In addition, it helps you show whether there are any loopholes you will need to address.

#2 Put Your Financials in Order

Your financial records are a crucial part of selling your West Pensacola, Florida restaurant. That’s the reason you should strive to make these documents complete and organized.

Offering your financial records to prospective buyers could aid clear any doubt they might have regarding your West Pensacola, 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 duplicate copies of all of these records. This can make it easier for you to send the information to prospective buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, deferred 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 sealing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your West Pensacola, Florida restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the true value of the West Pensacola, Florida restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow before trying to sell your West Pensacola, Florida restaurant.

The estimated time it may take to sell a West Pensacola, Florida restaurant is 6 months. Within the six months, there are many things you can do to increase your profit and slash several costs, and thus increase the value of your West Pensacola, Florida restaurant.

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

This will aid you in estimating the overall value of your West Pensacola, Florida restaurant. If you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your West Pensacola, Florida restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your West Pensacola, Florida restaurant does not appeal to buyers, they could pass over without consideration.

To prevent this from happening, all things in and out of your West Pensacola, Florida restaurant must be clean. Landscaped and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished door handles and a presentable floor are other simple items that would help create a memorable initial impression.

Additionally, you should ensure all the equipment is in top condition. If your equipment is not functioning, it can convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and production capabilities. It could even dampen the mood of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your West Pensacola, Florida restaurant.

#7 Search for West Pensacola Buyers

Looking for potential buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional West Pensacola, Florida restaurant broker to help. The professional West Pensacola, Florida restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to handle this task alone, you will need to carry out appropriate advertising. You can offer your West Pensacola, Florida restaurant on listing websites and tell family and friends about your plans to sell your West Pensacola, Florida restaurant.

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

#8 Be Ready

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

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

#9 Sell Your West Pensacola, Florida Restaurant

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

You may need your attorney’s assistance in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a West Pensacola, Florida Restaurant Broker

Although trying to sell your West Pensacola, Florida restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

It's true, in order for you to get the most out of the business deal, you need a higher level of expertise to stand out against the cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced West Pensacola, Florida restaurant broker is needed. A West Pensacola, Florida restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your West Pensacola, Florida restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a West Pensacola, Florida Restaurant Broker

Choosing to sell your West Pensacola, Florida restaurant through a West Pensacola, Florida restaurant broker has many advantages. First, however, you need to select the best West Pensacola, Florida restaurant broker to assist you in selling your West Pensacola, Florida restaurant.

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

West Pensacola Zip Codes We Support: 32505, 32506, 32507