Decided to Sell Your Barstow, California Restaurant?

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

Considering opening a different eatery, relocating, or maybe slowing down. No matter the reason, selling your Barstow, California restaurant can be way more challenging than you might realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the time you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You can either decide to hire a eatery broker to guide you in selling your Barstow, California restaurant or take on the task yourself. Whether considering selling your Barstow, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together all Important Documentation

This is a necessary initial step to take when you commence the process of marketing your Barstow, California restaurant.

The necessary 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 at hand:

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

Corbett Restaurant Group comes with experience to help you in the market for sale of your Barstow, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

In addition, putting together these documents lets you see your Barstow, California restaurant through the lens of a buyer. This provides you a clear image of the Barstow, California restaurant you're offering for sale. Furthermore, it allows you to show whether there are any loopholes you'll need to take care of.

#2 Put Your Financial Records in Order

Your financial records are a crucial aspect of selling your Barstow, California restaurant. This is why you should strive to make your documents accurate and well organized.

Offering your financial records to prospective buyers could aid clear any doubt they might have regarding your Barstow, California restaurant.

Your financial records can 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 documents. This may make it easier for you to send the records to potential buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Barstow, California restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Barstow, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

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

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

The average time it takes to sell a Barstow, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and reduce various costs, and thus strengthen the value of your Barstow, 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 will aid you in deriving the overall value of your Barstow, California restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Barstow, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the general look of your Barstow, California restaurant does not appeal to buyers, they might pass over immediately.

To avoid this from happening, all things in and out of your Barstow, California restaurant must be cleaned and maintained. Manicured and a clean parking area may help create curb appeal for prospective buyers.

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

Additionally, you should ensure all your equipment is in satisfactory condition. If your equipment is not working, it may convey 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 output abilities. It may even dampen the morale of your staff, which in response, 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 Barstow, California restaurant.

#7 Search for Barstow Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Barstow, California restaurant broker to help. The professional Barstow, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create appropriate advertising. You can show your Barstow, California restaurant on listing websites and tell family and friends about your intentions to sell your Barstow, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Barstow, 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 transaction. The paperwork often begin with the Asset Purchase Agreement.

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

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

Choosing a Barstow, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business deal, you need some level of experience in order to stand above and against your cometitors while attempting to find buyers.

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

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

Contact a Barstow, California Restaurant Broker

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

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

Barstow Zip Codes We Support: 92310, 92311, 92312, 92327