Time to Sell Your Winter Haven, Florida Restaurant?

Following years of labor, you have decided to sell your Winter Haven, Florida restaurant

Considering opening a new Winter Haven, Florida restaurant, relocating, or even retiring. Regardless of the reason, selling your Winter Haven, Florida restaurant can be way more complicated than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to hire a eatery broker to assist you in selling your Winter Haven, Florida restaurant or do the task yourself. Whether considering selling your Winter Haven, Florida restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather the Business Paperwork

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

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

• A list of your assets
• Lease documentation
• 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 Winter Haven, Florida restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to show all these documents to a possible buyer first day. But, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents allows you to view your Winter Haven, Florida restaurant through the lens of a buyer. It provides you a clear image of the Winter Haven, Florida restaurant you're offering for sale. In addition, it helps you show whether there are any areas you'll need to address.

#2 Put Your Financials in Order

Your financial documents are a crucial part of selling your Winter Haven, Florida restaurant. That’s the reason you should strive to have your documents complete and well organized.

Showing your financial records to potential buyers may assist to clear any doubt they may have regarding your Winter Haven, Florida restaurant.

The financial documents may include:

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

Also, make sure you have duplicate copies of all of these records. This can make it easier for you to send the documentation to possible buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later discovers these ommissions after completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Winter Haven, Florida restaurant, you need to review of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Winter Haven, Florida restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this will help them estimate the value of the Winter Haven, Florida restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow starting to sell your Winter Haven, Florida restaurant.

The average time it may take to sell a Winter Haven, Florida restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and reduce several costs, and therefore strengthen the value of your Winter Haven, Florida restaurant.

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

This will help you in estimating the probable worth of your Winter Haven, Florida restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Winter Haven, Florida restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Winter Haven, Florida restaurant does not look good to buyers, they could pass over without a second look.

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

Spot-free windows, polished handles and a clean floor are other simple things that can help create a memorable initial impression.

Furthermore, you should make sure all the equipment is in satisfactory condition. If your equipment is not working properly, it can send the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial status and production capabilities. It can even dampen the morale of your staff, 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 potential buyers regarding purchasing your Winter Haven, Florida restaurant.

#7 look for Winter Haven Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Winter Haven, Florida restaurant broker to help. A professional Winter Haven, Florida restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this project by yourself, you will need to create proper advertising. You can offer your Winter Haven, Florida restaurant on listing websites and let your family and friends know about your plans to market for sale your Winter Haven, Florida restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could visit your Winter Haven, Florida restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your Winter Haven, Florida Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the contract. The documentation often begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Winter Haven, Florida Restaurant Broker

While trying to sell your Winter Haven, Florida restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to achieve the most out of the business transaction, you need some level of experience in order to stand above and against the cometitors while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Winter Haven, Florida restaurant broker comes in. A Winter Haven, Florida restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Winter Haven, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

With the help of a Winter Haven, Florida restaurant broker, you can maintain your undivided attention on operating your Winter Haven, Florida restaurant and rest assured knowing that a professional is in charge of selling your Winter Haven, Florida restaurant.

Contact a Winter Haven, Florida Restaurant Broker

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

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

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