Are You Ready to Sell Your Beaumont, California Restaurant?

Following years of hard work, you have made the decision sell your Beaumont, California restaurant

Contemplating opening a different eatery, moving, or even slowing down. No matter the reason, selling a Beaumont, California restaurant can be a lot more challenging than you may think. 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 Actions to Consider in Selling Your Restaurant

You may either think to hire a eatery broker to assist you in selling your Beaumont, California restaurant or take on the task yourself. If you are considering selling your Beaumont, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Necessary Documentation

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

The required paperwork may vary from state to state--even in California, but the following is a list of a few standard documents you may be requierd to have ready:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Beaumont, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show all these documents to a possible buyer right away. But, you may want to have them ready because you will certainly need them during the sales process.

Also, putting together these documents lets you see your Beaumont, California restaurant through the lens of a buyer. It gives you a clear image of the Beaumont, California restaurant you're selling. Furthermore, it allows you to identify whether there are any concerns you'll have to take care of.

#2 Put Your Financial Records in Order

Your financial documents are an important aspect of selling your Beaumont, California restaurant. That’s the reason you should make it a priority to have these documents complete and well organized.

Offering your financial documents to potential buyers could help clear any doubt they may have regarding your Beaumont, California restaurant.

Your financial documents could include:

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

In addition, ensure you have hard copies of all of these documents. This may make it easier for you to send the information to possible buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later on discovers these liabilities after closing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Beaumont, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Beaumont, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the true value of the Beaumont, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to increase your cash flow before trying to sell your Beaumont, California restaurant.

The average time it may take to sell a Beaumont, California restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and reduce various costs, and therefore increase the value of your Beaumont, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This could help you in deriving the probable worth of your Beaumont, California restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Beaumont, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the general curb appeal of your Beaumont, California restaurant does not look good to buyers, they likely pass over without consideration.

To prevent this from happening, everything in and out of your Beaumont, California restaurant must be cleaned and maintained. Landscaping and a clean parking area may help create appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are other small items that would help create a great initial impression.

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

Faulty equipment could raise doubt about your financial status and output abilities. It could even dampen the excitment of your staff, 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 potential buyers concerning buying your Beaumont, California restaurant.

#7 look for Beaumont Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire an experienced Beaumont, California restaurant broker to help. A professional Beaumont, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to take on this task yourself, you will need to create appropriate advertising. You can market your Beaumont, California restaurant on business websites and let your family and friends know about your plans to sell your Beaumont, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Beaumont, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The paperwork often begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Beaumont, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business transaction, you need a higher level of expertise in order to stand out against your cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Beaumont, California restaurant broker is needed. A Beaumont, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Beaumont, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Beaumont, California Restaurant Broker

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

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

Beaumont Zip Codes We Support: 92223, 92583