Decided to Sell Your Cathedral City, California Restaurant?

After years of hard work, you have made the decision sell your Cathedral City, California restaurant

Considering starting a different eatery, moving, or maybe retiring. No matter the reason, selling your Cathedral City, California restaurant can be way more difficult than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You can either think to hire a Cathedral City, California restaurant broker to assist you in selling your Cathedral City, California restaurant or do the task on your own. Whether considering selling your Cathedral City, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together all Necessary Documentation

This is an important first step to make when you commence the process of marketing your Cathedral City, California restaurant.

The required documents 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 on you:

• Gather your assets
• Lease documentation
• 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 assist you in the sale of your Cathedral City, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to reveal all these documents to a prospective buyer right away. But, you may want to have them on hand because you will eventually require them during the sales process.

In addition, putting together these documents allows you to view your Cathedral City, California restaurant through the lens of a buyer. This provides you a clear picture of the Cathedral City, California restaurant you're offering for sale. Furthermore, it allows you to show if there are any concerns you will have to address.

#2 Put Your Financials in Order

Your financial records are a crucial part of selling your Cathedral City, California restaurant. This is why you should make it a priority to make your documents complete and well organized.

Showing your financial records to potential buyers may assist to clear any hesitations they may have concerning your Cathedral City, California restaurant.

Your 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 hard copies of all of the records. This may make it easier for you to transmit the documentation to possible buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items could create legal issues for you if a buyer later on discovers these liabilities after sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Cathedral City, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Cathedral City, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the true value of the Cathedral City, California restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to increase your cash flow starting to sell your Cathedral City, California restaurant.

The average time it takes to sell a Cathedral City, California restaurant is six months. Within those six months, there is a lot you can do to increase your profit and cut various costs, and thus strengthen the value of your Cathedral City, California restaurant.

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

This may assist you in deriving the probable value of your Cathedral City, California restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Cathedral City, California restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the general appearance of your Cathedral City, California restaurant does not look good to buyers, they might pass over right off the bat.

To avoid this from happening, everything in and out of your Cathedral City, California restaurant must be clean. Manicured and a clean parking area could help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also small items that could help create a great initial impression.

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

Non-functional equipment could raise doubt about your financial capabilities and output capabilities. It could even lower the excitment of your staff, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Cathedral City, California restaurant.

#7 look for Cathedral City Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Cathedral City, California restaurant broker to help. The professional Cathedral City, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this task by yourself, you will need to carry out appropriate advertising. You can show your Cathedral City, California restaurant on listing websites and tell family and friends about your plans to sell your Cathedral City, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will visit your Cathedral City, California restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Cathedral City, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the contract. The paperwork will usually start with the Asset Purchase Agreement.

You may need 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 such as the selling price of your Cathedral City, California restaurant, assets and equipment and inventory value.

Choosing a Cathedral City, California Restaurant Broker

Although trying to sell your Cathedral City, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first-timers.

The fact remains, in order for you to achieve the most from of the business transaction, you need some level of expertise to stand above and against the competition while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Cathedral City, California restaurant broker is needed. A Cathedral City, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Cathedral City, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

With the help of a Cathedral City, California restaurant broker, you can focus your undivided attention on operating your Cathedral City, California restaurant and rest assured with the knowledge that a professional is in charge of selling your Cathedral City, California restaurant.

Contact a Cathedral City, California Restaurant Broker

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

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

Cathedral City Zip Codes We Support: 92234, 92241, 92264, 92270, 92276