Time to Sell Your Winter Park, Florida Restaurant?

After years of sweat equity, you have made the decision sell your Winter Park, Florida restaurant

Considering starting a different Winter Park, Florida restaurant, moving, or even retiring. Regardless of the reason, selling a Winter Park, Florida restaurant can be way more challenging than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the time you may have put into it.

Necessary Actions to Consider when Selling Your Restaurant

You may either make the decision to hire a Winter Park, Florida restaurant broker to guide you in selling your Winter Park, Florida restaurant or take on the task yourself. Whether considering selling your Winter Park, Florida restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Necessary Paperwork

This is a necessary initial step to make when you commence the process of offering your Winter Park, Florida restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Winter Park, Florida restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to show all these documents to a prospective buyer right away. But, you may want to have them at hand because you will certainly require them during the sales process.

Also, putting together these documents allows you to see your Winter Park, Florida restaurant through the lens of a buyer. It provides you a clear image of the Winter Park, Florida restaurant you're selling. Furthermore, it allows you to show whether there are any loopholes you'll have to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important detail of selling your Winter Park, Florida restaurant. This is why you should make an effort to have your documents complete and organized.

Offering your financial records to potential buyers could help clear any doubt they might have regarding your Winter Park, Florida restaurant.

These financial records could include:

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

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

In addition, as a seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these ommissions after signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Winter Park, 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 may advisable to talk to your landlord regarding your plan to sell your Winter Park, Florida restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the true value of the Winter Park, Florida restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow starting to sell your Winter Park, Florida restaurant.

The average time it takes to sell a Winter Park, 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 increase the value of your Winter Park, Florida restaurant.

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

This may aid you in coming up with the probable worth of your Winter Park, Florida restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Winter Park, Florida restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Winter Park, Florida restaurant does not appeal to buyers, they likely pass over immediately.

To prevent this from happening, everything in and out of your Winter Park, Florida restaurant must be clean. Landscaping and a clean parking area may help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are other small things that would help create a memorable initial impression.

Furthermore, you should ensure that all your equipment is in top condition. If your equipment is not working, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial situation and production capabilities. It can even lower the mood 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 potential buyers concerning purchasing your Winter Park, Florida restaurant.

#7 look for Winter Park Buyers

Searching for potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Winter Park, Florida restaurant broker to help. The professional Winter Park, Florida restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can offer your Winter Park, Florida restaurant on business websites and let your family and friends know about your intentions to sell your Winter Park, Florida restaurant.

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

#8 Be Prepared

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

You never know when a buyer will walk into your Winter Park, Florida restaurant. Some buyers may even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Winter Park, Florida Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the contract. The documentation will usually start 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 transaction.

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

Choosing a Winter Park, Florida Restaurant Broker

Although trying to sell your Winter Park, Florida restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business deal, you need a higher level of experience in order to stand out against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Winter Park, Florida restaurant broker comes in. A Winter Park, Florida restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Winter Park, Florida restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Winter Park, Florida Restaurant Broker

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

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

Winter Park Zip Codes We Support: 32789, 32790, 32792, 32793, 32803