Ready to Sell Your Calabasas, California Restaurant?

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

Contemplating opening a different eatery, moving, or maybe slowing down. No matter the reason, selling your Calabasas, California restaurant can be way more challenging than you may think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to hire a eatery broker to guide you in selling your Calabasas, California restaurant or take on the task on your own. Whether considering selling your Calabasas, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Documentation

This is a necessary preparatory step to make when you start the process of marketing your Calabasas, California restaurant.

The required 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 ready:

• Gather your assets
• Lease contract
• 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 sale of your Calabasas, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to reveal all these documents to a potrntial buyer day one. But, you should have them ready because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Calabasas, California restaurant through the lens of a buyer. It provides you a clear picture of the Calabasas, California restaurant you're offering for sale. In addition, it helps you show whether there are any concerns you'll have to take care of.

#2 Get Your Financials in Order

Your financial records are an important aspect of selling your Calabasas, California restaurant. This is why you should make it a priority to make these documents complete and organized.

Showing your financial records to prospective buyers may assist to clear any doubt they may have regarding your Calabasas, California restaurant.

Your financial documents can include:

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

Also, ensure you have duplicate copies of all of these records. This could make it easier for you to send the information to potential buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these ommissions after signing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Calabasas, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Calabasas, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this helps them estimate the true value of the Calabasas, California restaurant.

This will be in your best interest to make sure that you increase sales and make a reduction in your expenses to build your cash flow starting to sell your Calabasas, California restaurant.

The average time it takes to sell a Calabasas, California restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and cut various costs, and therefore strengthen the value of your Calabasas, California restaurant.

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

This could aid you in coming up with the overall value of your Calabasas, California restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Calabasas, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the general appearance of your Calabasas, California restaurant does not appeal to buyers, they might take a pass without consideration.

To prevent this from happening, everything in and out of your Calabasas, California restaurant must be clean. Manicured and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished handles and a clean floor are other small items that can help create a great first impression.

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

Non-functional equipment also raises doubt about your financial capabilities and output abilities. It can even dampen the mood of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for Calabasas Buyers

Looking for prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Calabasas, California restaurant broker to help. A professional Calabasas, California restaurant broker will have recommendations for saving time 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 Calabasas, California restaurant on business websites and tell family and friends about your plans to sell your Calabasas, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Calabasas, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the transaction. The paperwork will likely start with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your Calabasas, California restaurant, assets and equipment and inventory value.

Choosing a Calabasas, California Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business transaction, you need some level of experience to stand above and against the competition while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Calabasas, California restaurant broker is recommended. A Calabasas, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Calabasas, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Calabasas, California Restaurant Broker

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

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

Calabasas Zip Codes We Support: 90290, 91301, 91302, 91372