Are You Ready to Sell Your Arcadia, California Restaurant?

After years of labor, you have decided to sell your Arcadia, California restaurant

Considering starting a new eatery, relocating, or maybe retiring. No matter the reason, selling your Arcadia, California restaurant can be way more difficult than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you’ve put into it.

Necessary Steps to Take in Selling Your Restaurant

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

#1 Gather any Necessary Documentation

This is a necessary first step to make when you begin the process of selling your Arcadia, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some general documents you may be requierd to have prepared:

• Gather 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 has the experience to help you in the market for sale of your Arcadia, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a potrntial buyer right away. But, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Arcadia, California restaurant through the lens of a buyer. It gives you a clear picture of the Arcadia, California restaurant you are offering for sale. Furthermore, it helps you show if there are any concerns you will have to address.

#2 Put Your Financial Records in Order

Your financial documents are a crucial part of selling your Arcadia, California restaurant. This is why you should make an effort to have these documents complete and organized.

Offering your financial records to potential buyers may help clear any doubt they may have regarding your Arcadia, California restaurant.

Your financial records may 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 could make it easier for you to transmit the information to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later on discovers these liabilities post completing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Arcadia, California restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Arcadia, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this helps with estimating the value of your Arcadia, California restaurant.

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

The average time it takes to sell a Arcadia, California restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and slash several costs, and thus strengthen the value of your Arcadia, California restaurant.

Also, 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 aid you in coming up with the probable value of your Arcadia, California restaurant. When you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Arcadia, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Arcadia, California restaurant does not look good to buyers, they could pass over without a second look.

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

Spot-free windows, polished handles and a clean floor are also small items that can help create a unforgettable first impression.

Additionally, you should make sure all the equipment is in satisfactory condition. If your equipment is not functioning, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial situation and production capabilities. It may even lower the morale of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning purchasing your Arcadia, California restaurant.

#7 Search for Arcadia Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire a professional Arcadia, California restaurant broker to help. The professional Arcadia, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this project alone, you will need to carry out appropriate advertising. You can show your Arcadia, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Arcadia, California restaurant.

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

#8 Be Ready

Whether you decide to sell your Arcadia, California restaurant yourself, or through a Arcadia, California restaurant broker, you should always be ready. Be prepared to show your Arcadia, California restaurant to potential buyers at all times.

You'll never know when a buyer will walk into your Arcadia, California restaurant. Some buyers may even come in as customers just to carry out some research before contacting you.

#9 Sell Your Arcadia, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the contract. The paperwork often begin with the Asset Purchase Agreement.

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

This document includes details including the selling price of your Arcadia, California restaurant, assets and equipment as well as inventory value.

Choosing a Arcadia, California Restaurant Broker

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

The fact remains, if you're looking to get the most out of the business transaction, you need some level of expertise to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Arcadia, California restaurant broker is needed. A Arcadia, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Arcadia, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

With the help of a Arcadia, California restaurant broker, you can maintain your undivided attention on operating your Arcadia, California restaurant and rest easy knowing that a professional is in charge of selling your Arcadia, California restaurant.

Contact a Arcadia, California Restaurant Broker

Deciding to sell your Arcadia, California restaurant through a Arcadia, California restaurant broker has several advantages. First, however, you need to select the best Arcadia, California restaurant broker to help you in selling your Arcadia, California restaurant.

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

Arcadia Zip Codes We Support: 91006, 91007, 91077, 91732