Time to Sell Your Atascadero, California Restaurant?

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

Contemplating opening a different eatery, moving, or even slowing down. Regardless of the reason, selling your Atascadero, California restaurant can be way more challenging than you might realize. This is because it takes careful preparation and a solid game plan to successfully exit with enough money for all the time you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either make the decision to contract with a Atascadero, California restaurant broker to assist you in selling your Atascadero, California restaurant or take on the task yourself. Whether considering selling your Atascadero, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather the Necessary Documentation

This is a necessary initial step to make when you begin the process of marketing your Atascadero, California restaurant.

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

• Gather 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

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You probably do not want to reveal the majority of 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.

Also, compiling these documents allows you to see your Atascadero, California restaurant through the lens of a buyer. It provides you a clear image of the Atascadero, California restaurant you're selling. In addition, it helps you show if there are any areas you'll have to address.

#2 Get Your Financials in Order

Your financial records are a crucial detail of selling your Atascadero, California restaurant. That’s the reason you should strive to have your documents accurate and organized.

Showing your financial records to prospective buyers may assist to clear any hesitations they might have regarding your Atascadero, California restaurant.

The financial records may include:

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

In addition, make sure you have duplicate copies of all of the documents. This may make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these items can create legal issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Atascadero, California restaurant, you need to review 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 could be advisable to have a discussion with your landlord regarding your plan to sell your Atascadero, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the value of the Atascadero, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build your cash flow before trying to sell your Atascadero, California restaurant.

The estimated time it takes to sell a Atascadero, California restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and cut several costs, and thus strengthen the value of your Atascadero, California restaurant.

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

This may help you in deriving the probable value of your Atascadero, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Atascadero, California restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Atascadero, California restaurant does not appeal to buyers, they could pass over right off the bat.

To prevent this from happening, all things in and out of your Atascadero, California restaurant must be clean. Landscaping and a clean parking area may help create curb appeal for prospective buyers.

Spot-free windows, polished handles and a clean floor are also simple things that can help create a great first impression.

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

Non-functional equipment also raises doubt about your financial status and output abilities. It could even dampen the excitment of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Atascadero Buyers

Marketing to prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Atascadero, California restaurant broker to help. A professional Atascadero, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project alone, you will need to carry out proper advertising. You can list your Atascadero, California restaurant on listing websites and tell family and friends about your plans to market for sale your Atascadero, California restaurant.

As you will probably come across competition when trying to sell your Atascadero, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

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

#9 Sell Your Atascadero, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details including the selling price of your Atascadero, California restaurant, assets and equipment and inventory value.

Choosing a Atascadero, California Restaurant Broker

Although attempting to sell your Atascadero, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business transaction, you need a higher level of expertise to stand above and against your competition while trying to attract buyers.

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

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

Contact a Atascadero, California Restaurant Broker

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

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

Atascadero Zip Codes We Support: 93422, 93423