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Considering starting a new eatery, moving, or maybe slowing down. No matter the reason, selling a Brea, California restaurant can be way more complicated than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you’ve put into it.
You may either think to contract with a eatery broker to help you in selling your Brea, California restaurant or take on the task yourself. If you are considering selling your Brea, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.
This is an important first step to make when you commence the process of selling your Brea, California restaurant.
The required documents may vary from state to state--even in California, but below is a list of a few generalized documents you may find helpful to have on you:
Corbett Restaurant Group comes with expertise to help you in the sale of your Brea, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.
You certainly do not want to reveal all these documents to a potrntial buyer day one. But, you should have them at hand because you will certainly require them during the sales process.
In addition, putting together these documents allows you to see your Brea, California restaurant through the lens of a buyer. This gives you a clear image of the Brea, California restaurant you are selling. Furthermore, it helps you show whether there are any concerns you will have to take care of.
Your financial documents are a crucial aspect of selling your Brea, California restaurant. This is why you should make it a priority to have your documents complete and organized.
Offering your financial records to potential buyers may help clear any doubt they may have concerning your Brea, California restaurant.
These financial records may include:
Also, ensure you have hard copies of all of the documents. This can make it easier for you to transmit the documentation to potential buyers.
Likewise, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions after closing the deal.
While preparing to sell your Brea, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.
For this reason, it is advisable to talk to your landlord concerning your plan to sell your Brea, California restaurant and to potentially extend your lease.
Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps them evaluate the value of your Brea, California restaurant.
It is therefore in your best interest to make sure that you increase sales and reduce expenses to build your cash flow planning to sell your Brea, California restaurant.
The average time it may take to sell a Brea, California restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and cut various costs, and thus strengthen the value of your Brea, California restaurant.
Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.
This will aid you in estimating the overall worth of your Brea, California restaurant. Understanding the overall value will help you settle on a selling price.
The first impression of your Brea, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall look of your Brea, California restaurant does not appeal to buyers, they might take a pass right off the bat.
To avoid this from happening, all things in and out of your Brea, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create appeal for prospective buyers.
Clean windows, polished door handles and a neat floor are also simple things that would help create a memorable first impression.
Furthermore, you should ensure that all the equipment is in top 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 can raise doubt about your financial capabilities and production abilities. It may 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 concerning buying your Brea, California restaurant.
Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Brea, California restaurant broker to help. A professional Brea, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this task yourself, you will need to carry out proper advertising. You can list your Brea, California restaurant on business websites and tell family and friends about your plans to market for sale your Brea, California restaurant.
As you will likely run across competition when trying to sell your Brea, California restaurant, you need your restaurant to stand out.
If you decide to sell your Brea, California restaurant yourself, or with a a Brea, California restaurant broker, you need to always be ready. Be prepared to show your Brea, California restaurant to prospective buyers at all times.
You will never know when a buyer could walk into your Brea, California restaurant. Some buyers may even come in as customers in order to carry out some research before contacting you.
This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the transaction. The paperwork often start with the Asset Purchase Agreement.
You should have your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.
This document includes details including the selling price of your Brea, California restaurant, assets and equipment as well as inventory value.
Although trying to sell your Brea, California restaurant on your own can be an exciting project, it could also be quite risky, especially for first time sellers.
It's true, in order for you to get the most out of the business transaction, you need some level of expertise to stand out against your cometitors while trying to attract buyers.
Experience is also vital during negotiations with prospective buyers. This is when an experienced Brea, California restaurant broker is recommended. A Brea, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Brea, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.
With the assistance of a Brea, California restaurant broker, you can maintain your undivided attention on operating your Brea, California restaurant and rest assured knowing that a professional is in charge of selling your Brea, California restaurant.
Choosing to sell your Brea, California restaurant through a Brea, California restaurant broker has several advantages. First, however, you need to select the best Brea, California restaurant broker to help you in selling your Brea, California restaurant.
At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Brea, California restaurant. And, we work harder than any other Brea 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 Brea, California restaurant for a great price.
Brea Zip Codes We Support: 92821, 92822, 92823, 92835, 92886
We've been in business for over 15 years and its because of the hard work and loyalty of our Brokers and staff. When you partner with us, you'll receive the absolutely best service the industry has to offer.