Right Time to Sell Your Buena Park, California Restaurant?

Following years of labor, you have made the decision sell your Buena Park, California restaurant

Contemplating opening a different eatery, relocating, or even retiring. Regardless of the reason, selling a Buena Park, California restaurant can be way more difficult than you may think. This is because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the sweat you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

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

#1 Gather any Important Documentation

This is a necessary initial step to make when you commence the process of offering your Buena Park, California restaurant.

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

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

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

It's probably smart not to reveal the majority of these documents to a possible buyer day one. However, you should have them ready because you will certainly need them during the sales process.

Also, compiling these documents allows you to see your Buena Park, California restaurant through the lens of a buyer. This gives you a clear image of the Buena Park, California restaurant you're selling. Furthermore, it allows you to show whether there are any areas you'll have to address.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial detail of selling your Buena Park, California restaurant. This is the reason you should strive to make your documents accurate and well organized.

Offering your financial documents to possible buyers could help clear any hesitations they may have concerning your Buena Park, California restaurant.

The financial documents could include:

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

In addition, ensure you have duplicate copies of all of the documents. This may make it easier for you to send the records to potential buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later on discovers these liabilities after closing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Buena Park, California restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps them evaluate the value of the Buena Park, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your Buena Park, California restaurant.

The average time it may take to sell a Buena Park, California restaurant is 6 months. Within the six months, there are several things you can do to strengthen your profit and slash various costs, and thus strengthen the worth of your Buena Park, 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 estimate your assets.

This will help you in deriving the overall value of your Buena Park, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Buena Park, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the overall look of your Buena Park, California restaurant does not look good to buyers, they likely take a pass right off the bat.

To avoid this from happening, everything in and out of your Buena Park, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are also small things that could help create a memorable first impression.

Additionally, you should make sure all your equipment is in top condition. If your equipment is not working, it can convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial capabilities and production abilities. It could even dampen the morale of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding buying your Buena Park, California restaurant.

#7 Search for Buena Park Buyers

Searching for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Buena Park, California restaurant broker to help. The professional Buena Park, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this project yourself, you will need to carry out appropriate advertising. You can show your Buena Park, California restaurant on business websites and let your family and friends know about your plans to market for sale your Buena Park, California restaurant.

As you will likely come across competition when trying to sell your Buena Park, California restaurant, you need your restaurant to stand out.

#8 Be Ready

If you decide to sell your Buena Park, California restaurant yourself, or through a Buena Park, California restaurant broker, you should always be prepared. Be prepared to show your Buena Park, California restaurant to prospective buyers at all times.

You will never know when a buyer will visit your Buena Park, California restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Buena Park, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s help 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 including the selling price of your Buena Park, California restaurant, assets and equipment and inventory value.

Choosing a Buena Park, California Restaurant Broker

While attempting to sell your Buena Park, 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 achieve the most out of the business deal, you need some level of expertise to stand out against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Buena Park, California restaurant broker is needed. A Buena Park, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Buena Park, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

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

Contact a Buena Park, California Restaurant Broker

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

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

Buena Park Zip Codes We Support: 90620, 90621, 90622, 90624