Right Time to Sell Your Bay Point, California Restaurant?

Following years of sweat equity, you have made the decision sell your Bay Point, California restaurant

Contemplating starting a different Bay Point, California restaurant, relocating, or even slowing down. Regardless of the reason, selling a Bay Point, California restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the sweat you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You can either decide to contract with a eatery broker to assist you in selling your Bay Point, California restaurant or do the task yourself. If you are considering selling your Bay Point, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together the Important Paperwork

This is an important initial step to make when you commence the process of selling your Bay Point, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of a few general documents you may need to have at hand:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Bay Point, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to reveal all these documents to a possible buyer day one. However, you may want to have them on hand because you will eventually need them during the sales process.

Also, compiling these documents allows you to view your Bay Point, California restaurant through the lens of a buyer. It gives you a clear image of the Bay Point, California restaurant you're selling. Furthermore, it allows you to show whether there are any areas you will have to take care of.

#2 Put Your Financials in Order

Your financial documents are an important aspect of selling your Bay Point, California restaurant. This is why you should make an effort to have these documents complete and well organized.

Showing your financial documents to potential buyers could help clear any hesitations they may have regarding your Bay Point, California restaurant.

Your financial documents could 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 these documents. This may make it easier for you to send the documentation to possible buyers.

Also, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items may create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Bay Point, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an in-depth analysis of your financial records, whether favorable or not, this will help them evaluate the value of the Bay Point, California restaurant.

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

The average time it takes to sell a Bay Point, California restaurant is six months. Within those six months, there is a lot you can do to increase your profit and cut several costs, and therefore strengthen the worth of your Bay Point, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may assist you in coming up with the overall worth of your Bay Point, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Bay Point, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general appearance of your Bay Point, California restaurant does not appeal to buyers, they could pass over without consideration.

To prevent this from happening, all things in and out of your Bay Point, California restaurant must be clean. Landscaped and a clean parking area can help create curb appeal for prospective 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 all the equipment is in satisfactory condition. If your equipment is not working, it may send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and output abilities. It could even lower the excitment of your staff, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Bay Point, California restaurant.

#7 Search for Bay Point Buyers

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

As you will probably run across competition when trying to sell your Bay Point, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

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

#9 Sell Your Bay Point, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the deal. The documentation often begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details such as the selling price of your Bay Point, California restaurant, assets and equipment and inventory value.

Choosing a Bay Point, California Restaurant Broker

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

It's true, in order for you to achieve the most from of the business deal, you need some level of experience to stand above and against the competition while trying to attract buyers.

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

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

Contact a Bay Point, California Restaurant Broker

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

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

Bay Point Zip Codes We Support: 94520, 94565