Are You Ready to Sell Your Camarillo, California Restaurant?

After years of sweat equity, you have decided to sell your Camarillo, California restaurant

Considering starting a different Camarillo, California restaurant, relocating, or maybe slowing down. Regardless of the reason, selling your Camarillo, California restaurant can be way more complicated than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the time you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You may either decide to contract with a Camarillo, California restaurant broker to help you in selling your Camarillo, California restaurant or do the task yourself. If you are considering selling your Camarillo, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together any Important Documentation

This is a necessary first step to take when you start the process of selling your Camarillo, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of a few standard documents you may need to have prepared:

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

Corbett Restaurant Group has the experience to assist you in the sale of your Camarillo, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal all these documents to a prospective buyer first day. However, you should have them ready because you will certainly require them during the sales process.

In addition, compiling these documents lets you view your Camarillo, California restaurant through the lens of a buyer. This gives you a clear image of the Camarillo, California restaurant you're selling. Furthermore, it helps you identify whether there are any concerns you'll have to address.

#2 Get Your Financials in Order

Your financial documents are an important detail of selling your Camarillo, California restaurant. That’s why you should strive to make these documents accurate and well organized.

Offering your financial documents to potential buyers may assist to clear any hesitations they might have concerning your Camarillo, California restaurant.

The financial documents could include:

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

In addition, make sure you have duplicate copies of all of these documents. This may make it easier for you to send the information to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Camarillo, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Camarillo, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the true value of the Camarillo, California restaurant.

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

The estimated time it takes to sell a Camarillo, California restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and thus strengthen the worth of your Camarillo, California restaurant.

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

This could help you in estimating the probable value of your Camarillo, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Camarillo, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general aesthetic of your Camarillo, California restaurant does not look good to buyers, they might pass over without consideration.

To avoid this from happening, everything in and out of your Camarillo, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create curb appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are other small things that can help create a unforgettable initial impression.

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

Non-functional equipment also raises doubt about your financial capabilities and output abilities. It could even lower the mood of your employees, which 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 concerning purchasing your Camarillo, California restaurant.

#7 Search for Camarillo Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Camarillo, California restaurant broker to help. A professional Camarillo, California restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out proper advertising. You can market your Camarillo, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Camarillo, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Camarillo, California Restaurant

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

You may need your attorney’s help in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Camarillo, California Restaurant Broker

While trying to sell your Camarillo, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first time sellers.

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

Experience is also vital during negotiations with potential buyers. This is where an experienced Camarillo, California restaurant broker is recommended. A Camarillo, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Camarillo, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Camarillo, California Restaurant Broker

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

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

Camarillo Zip Codes We Support: 93010, 93011, 93012