Are You Ready to Sell Your Castro Valley, California Restaurant?

Following years of labor, you have decided to sell your Castro Valley, California restaurant

Contemplating opening a different Castro Valley, California restaurant, relocating, or maybe retiring. Regardless of the reason, selling a Castro Valley, California restaurant can be way more complicated than you might realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the labor you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

You may either decide to hire a eatery broker to guide you in selling your Castro Valley, California restaurant or do the task on your own. If you are considering selling your Castro Valley, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together all Important Documentation

This is an important initial step to make when you commence the process of selling your Castro Valley, California restaurant.

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

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

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It's probably best not to show the majority of these documents to a possible buyer first day. But, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Castro Valley, California restaurant through the lens of a buyer. This gives you a clear picture of the Castro Valley, California restaurant you are offering for sale. In addition, it allows you to identify if there are any concerns you'll need to address.

#2 Get Your Financials in Order

Your financial records are an important aspect of selling your Castro Valley, California restaurant. This is the reason you should make an effort to make these documents complete and organized.

Offering your financial documents to possible buyers could aid clear any hesitations they may have regarding your Castro Valley, California restaurant.

The financial records can include:

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

Also, make sure you have hard copies of all of these documents. This can make it easier for you to send the records to possible buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these things may create legal issues for you if a buyer later discovers these ommissions after closing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Castro Valley, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Castro Valley, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps them estimate the value of your Castro Valley, California restaurant.

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

The estimated time it may take to sell a Castro Valley, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and reduce several costs, and therefore strengthen the worth of your Castro Valley, 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 could aid you in estimating the probable worth of your Castro Valley, 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 Castro Valley, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the general aesthetic of your Castro Valley, California restaurant does not look good to buyers, they likely pass over right off the bat.

To avoid this from happening, everything in and out of your Castro Valley, California restaurant must be clean. Landscaping and a clean parking area could help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also simple things that could help create a great first impression.

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

Faulty equipment also raises doubt about your financial status and production abilities. It can even lower the morale of your staff, and 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 Castro Valley, California restaurant.

#7 Search for Castro Valley Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced Castro Valley, California restaurant broker to help. A professional Castro Valley, California restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this project yourself, you will need to create appropriate advertising. You can offer your Castro Valley, California restaurant on business websites and let your family and friends know about your plans to market for sale your Castro Valley, California restaurant.

As you will probably run across competition when trying to sell your Castro Valley, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

You never know when a buyer could walk into your Castro Valley, California restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Castro Valley, California Restaurant

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

You should have your attorney’s expertise in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

This agreement includes details such as the selling price of your Castro Valley, California restaurant, items and equipment and inventory value.

Choosing a Castro Valley, California Restaurant Broker

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

It's true, in order for you to get the most out of the business deal, you need a higher level of experience in order to stand above and against your cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Castro Valley, California restaurant broker comes in. A Castro Valley, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Castro Valley, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Castro Valley, California Restaurant Broker

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

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

Castro Valley Zip Codes We Support: 94546, 94552, 94577, 94578