Are You Ready to Sell Your Anaheim, California Restaurant?

Following years of labor, you have made the decision sell your Anaheim, California restaurant

Contemplating starting a different eatery, moving, or even slowing down. No matter the reason, selling your Anaheim, California restaurant can be way more challenging than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the labor you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either make the decision to hire a eatery broker to help you in selling your Anaheim, California restaurant or take on the task on your own. Whether considering selling your Anaheim, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Important Documentation

This is an important preparatory step to take when you begin the process of selling your Anaheim, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of a few general documents you may be requierd to have on you:

• A list of 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 comes with experience to assist you in the market for sale of your Anaheim, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

In addition, compiling these documents lets you view your Anaheim, California restaurant through the lens of a buyer. It gives you a clear image of the Anaheim, California restaurant you're offering for sale. In addition, it allows you to identify whether there are any loopholes you'll need to address.

#2 Put Your Financial Records in Order

Your financial records are an important part of selling your Anaheim, California restaurant. That’s why you should strive to have your documents complete and organized.

Showing your financial documents to possible buyers could aid clear any hesitations they may have regarding your Anaheim, California restaurant.

The financial records may include:

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

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

Likewise, as the 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 discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Anaheim, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Anaheim, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the true value of your Anaheim, California restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to increase your cash flow planning to sell your Anaheim, California restaurant.

The estimated time it may take to sell a Anaheim, California restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and reduce various costs, and thus increase the worth of your Anaheim, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may assist you in estimating the overall worth of your Anaheim, California restaurant. When you understand the overall value this could help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Anaheim, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the general curb appeal of your Anaheim, California restaurant does not appeal to buyers, they might pass over right off the bat.

To prevent this from happening, everything in and out of your Anaheim, California restaurant must be clean. Landscaping and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished door handles and a presentable floor are also simple things that could help create a great initial impression.

Furthermore, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working, it may convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial status and production abilities. It could even lower the mood of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding purchasing your Anaheim, California restaurant.

#7 Search for Anaheim Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Anaheim, California restaurant broker to help. The professional Anaheim, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project by yourself, you will need to create appropriate advertising. You can market your Anaheim, California restaurant on listing websites and tell family and friends about your intentions to sell your Anaheim, California restaurant.

As you will likely run across competition when trying to sell your Anaheim, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

Regardless if you decide to sell your Anaheim, California restaurant yourself, or with a a Anaheim, California restaurant broker, you should always be ready. Be ready to show your Anaheim, California restaurant to potential buyers at all times.

You never know when a buyer will visit your Anaheim, California restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Anaheim, California 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 deal. The paperwork will usually start with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details such as the selling price of your Anaheim, California restaurant, items and equipment as well as inventory value.

Choosing a Anaheim, California Restaurant Broker

Although attempting to sell your Anaheim, California restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to achieve the most out of the business transaction, you need a higher level of experience in order to stand out against your cometitors while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Anaheim, California restaurant broker is recommended. A Anaheim, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Anaheim, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Anaheim, California Restaurant Broker

Choosing to sell your Anaheim, California restaurant through a Anaheim, California restaurant broker has multiple advantages. First, however, you need to select the best Anaheim, California restaurant broker to help you in selling your Anaheim, California restaurant.

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

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