Decided to Sell Your Chatsworth, California Restaurant?

After years of sweat equity, you have made the decision sell your Chatsworth, California restaurant

Contemplating starting a new Chatsworth, California restaurant, relocating, or even slowing down. Regardless of the reason, selling your Chatsworth, California restaurant can be a lot more difficult 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 time you’ve put into it.

Important Steps to Take in Selling Your Restaurant

You may either make the decision to hire a Chatsworth, California restaurant broker to assist you in selling your Chatsworth, California restaurant or take on the task yourself. Whether considering selling your Chatsworth, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather the Necessary Documentation

This is an important preparatory step to take when you commence the process of offering your Chatsworth, California restaurant.

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

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

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

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

In addition, putting together these documents lets you view your Chatsworth, California restaurant through the lens of a buyer. It provides you a clear picture of the Chatsworth, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial records are a crucial detail of selling your Chatsworth, California restaurant. That’s the reason you should make an effort to make your documents accurate and well organized.

Showing your financial records to potential buyers could aid clear any doubt they might have concerning your Chatsworth, California restaurant.

Your financial records could include:

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

Also, ensure you have soft copies of all of these documents. This will make it easier for you to transmit the information to possible buyers.

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

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Chatsworth, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Chatsworth, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this will help them evaluate the true value of your Chatsworth, California restaurant.

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

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

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

This may aid you in estimating the overall value of your Chatsworth, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Attractive

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

To avoid this from happening, all things in and out of your Chatsworth, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot could help create appeal for potential buyers.

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

Furthermore, you should ensure that all the equipment is in top condition. If your equipment is not working properly, it can send 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 production abilities. It could even dampen the morale of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Chatsworth Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Chatsworth, California restaurant broker to help. The professional Chatsworth, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this project yourself, you will need to carry out proper advertising. You can list your Chatsworth, California restaurant on business websites and let your family and friends know about your intentions to sell your Chatsworth, California restaurant.

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

#8 Be Ready

Whether you decide to sell your Chatsworth, California restaurant yourself, or through a Chatsworth, California restaurant broker, you need to always be ready. Be ready to show your Chatsworth, California restaurant to potential buyers at all times.

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

#9 Sell Your Chatsworth, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves 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 expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Chatsworth, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business deal, you need a higher level of expertise in order 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 Chatsworth, California restaurant broker comes in. A Chatsworth, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Chatsworth, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Chatsworth, California Restaurant Broker

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

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

Chatsworth Zip Codes We Support: 91311, 91313