Right Time to Sell Your Belmont, California Restaurant?

After years of labor, you have made the decision sell your Belmont, California restaurant

Considering starting a new eatery, moving, or maybe retiring. Regardless of the reason, selling your Belmont, California restaurant can be way more challenging than you might think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the labor you may have put into it.

Important Steps to Consider when Selling Your Restaurant

You can either decide to contract with a eatery broker to assist you in selling your Belmont, California restaurant or take on the task on your own. Whether considering selling your Belmont, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Important Paperwork

This is a necessary first step to make when you begin the process of offering your Belmont, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Belmont, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

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

Also, putting together these documents allows you to view your Belmont, California restaurant through the lens of a buyer. This gives you a clear picture of the Belmont, California restaurant you are selling. In addition, it helps you show if there are any concerns you'll have to address.

#2 Put Your Financials in Order

Your financial records are an important detail of selling your Belmont, California restaurant. That’s the reason you should make it a priority to have your documents accurate and well organized.

Showing your financial records to potential buyers may assist to clear any doubt they might have regarding your Belmont, California restaurant.

These 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 the records. This could make it easier for you to transmit the documentation to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items may create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Belmont, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this helps with estimating the true value of the Belmont, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow planning to sell your Belmont, California restaurant.

The average time it may take to sell a Belmont, California restaurant is six months. Within those six months, there are many things you can do to strengthen your profit and reduce several costs, and therefore strengthen the value of your Belmont, California restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will help you in deriving the overall value of your Belmont, California restaurant. When you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Belmont, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Belmont, California restaurant does not look good to buyers, they could take a pass without consideration.

To prevent this from happening, everything in and out of your Belmont, California restaurant must be clean. Landscaping and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished handles and a neat floor are other small things that could help create a unforgettable first impression.

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not functioning, it may send the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial capabilities and production abilities. It can even dampen the excitment of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Belmont, California restaurant.

#7 look for Belmont Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional Belmont, California restaurant broker to help. The professional Belmont, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this project by yourself, you will need to create appropriate advertising. You can show your Belmont, California restaurant on business websites and let your family and friends know about your plans to market for sale your Belmont, California restaurant.

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

#8 Be Ready

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

You'll never know when a buyer will visit your Belmont, California restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.

#9 Sell Your Belmont, 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 complete the deal. The documentation often begin with the Asset Purchase Agreement.

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

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

Choosing a Belmont, California Restaurant Broker

Although attempting to sell your Belmont, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

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 above and against the competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Belmont, California restaurant broker comes in. A Belmont, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Belmont, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Belmont, California Restaurant Broker

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

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

Belmont Zip Codes We Support: 94002