Decided to Sell Your Benicia, California Restaurant?

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

Contemplating starting a different eatery, relocating, or even retiring. No matter the reason, selling a Benicia, California restaurant can be a lot more complicated than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough money for all the time you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either think to contract with a Benicia, California restaurant broker to guide you in selling your Benicia, California restaurant or take on the task on your own. If you are considering selling your Benicia, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Business Documentation

This is an important initial step to take when you commence the process of selling your Benicia, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some general documents you may be requierd to have at hand:

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

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

It's probably best not to show all these documents to a prospective buyer first day. But, you may want to have them on hand because you will certainly need them during the sales process.

Also, compiling these documents allows you to see your Benicia, California restaurant through the lens of a buyer. It gives you a clear image of the Benicia, California restaurant you are selling. In addition, it allows you to identify if there are any concerns you will need to address.

#2 Get Your Financial Documents in Order

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

Offering your financial records to possible buyers may help clear any doubt they might have regarding your Benicia, California restaurant.

These financial records can include:

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

Also, make sure you have duplicate copies of all of these documents. This may make it easier for you to send the records to prospective buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things could create legal issues for you if a buyer later on discovers these liabilities after signing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Benicia, California restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financial records, whether favorable or not, this helps them estimate the true value of your Benicia, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build your cash flow starting to sell your Benicia, California restaurant.

The average time it takes to sell a Benicia, California restaurant is six months. Within those six months, there are several things you can do in order to increase your profit and cut several costs, and therefore increase the value of your Benicia, 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 may help you in estimating the probable value of your Benicia, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Benicia, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your Benicia, California restaurant does not appeal to buyers, they might take a pass immediately.

To prevent this from happening, everything in and out of your Benicia, California restaurant must be clean. Manicured and a clean parking area can help create curb appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are also simple items that would help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial capabilities and output abilities. It could even lower the morale of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning purchasing your Benicia, California restaurant.

#7 Search for Benicia Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire a professional Benicia, California restaurant broker to help. The professional Benicia, California restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this project yourself, you will need to carry out appropriate advertising. You can offer your Benicia, California restaurant on listing websites and let your family and friends know about your intentions to sell your Benicia, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Benicia, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Benicia, California Restaurant Broker

Although trying to sell your Benicia, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business transaction, you need a higher level of expertise to stand above and against the cometitors while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Benicia, California restaurant broker is needed. A Benicia, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Benicia, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Benicia, California Restaurant Broker

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

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

Benicia Zip Codes We Support: 94510, 94591