Decided to Sell Your Baldwin Park, California Restaurant?

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

Contemplating starting a new eatery, relocating, or even slowing down. No matter the reason, selling your Baldwin Park, California restaurant can be way more challenging than you may realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the labor you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You may either decide to hire a eatery broker to guide you in selling your Baldwin Park, California restaurant or take on the task yourself. If you are considering selling your Baldwin Park, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Necessary Documentation

This is an important initial step to make when you start the process of offering your Baldwin Park, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of some generalized documents you may need to have on you:

• Gather your assets
• Lease contract
• 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 expertise to assist you in the sale of your Baldwin Park, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a possible buyer day one. However, you may want to have them at hand because you will eventually need them during the sales process.

Also, putting together these documents allows you to view your Baldwin Park, California restaurant through the lens of a buyer. It provides you a clear image of the Baldwin Park, California restaurant you're offering for sale. In addition, it helps you identify if there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial records are an important part of selling your Baldwin Park, California restaurant. This is the reason you should strive to make your documents complete and organized.

Showing your financial documents to prospective buyers could assist to clear any hesitations they might have regarding your Baldwin Park, California restaurant.

Your financial documents can include:

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

In addition, 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 a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Baldwin Park, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Baldwin Park, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this will help them evaluate the true value of the Baldwin Park, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Baldwin Park, California restaurant.

The estimated time it takes to sell a Baldwin Park, California restaurant is six months. Within the six months, there are several things you can do to increase your profit and cut various costs, and therefore increase the worth of your Baldwin Park, 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 could help you in coming up with the overall worth of your Baldwin Park, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Baldwin Park, California restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your Baldwin Park, California restaurant does not appeal to buyers, they could take a pass without consideration.

To prevent this from happening, all things in and out of your Baldwin Park, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create appeal for prospective buyers.

Spot-free windows, polished handles and a presentable floor are also simple things that would help create a memorable first impression.

Additionally, you should ensure all the equipment is in satisfactory condition. If your equipment is not working, it can convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial capabilities and production abilities. It could even dampen the morale 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 potential buyers regarding buying your Baldwin Park, California restaurant.

#7 look for Baldwin Park Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced Baldwin Park, California restaurant broker to help. The professional Baldwin Park, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this task by yourself, you will need to create appropriate advertising. You can list your Baldwin Park, California restaurant on business websites and let your family and friends know about your plans to market for sale your Baldwin Park, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Baldwin Park, California restaurant yourself, or through a Baldwin Park, California restaurant broker, you need to always be prepared. Be ready to show your Baldwin Park, California restaurant to potential buyers at all times.

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

#9 Sell Your Baldwin Park, California Restaurant

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

You should have your attorney’s help in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Baldwin Park, California Restaurant Broker

Although trying to sell your Baldwin Park, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

It's true, if you're looking to achieve the most out of the business deal, you need a higher level of expertise in order to stand out against your cometitors while trying to find buyers.

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

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

Contact a Baldwin Park, California Restaurant Broker

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

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

Baldwin Park Zip Codes We Support: 91706, 91746, 91797