Ready to Sell Your Chico, California Restaurant?

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

Contemplating starting a new eatery, moving, or even retiring. No matter the reason, selling your Chico, California restaurant can be a lot more complicated than you may realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the time you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to assist you in selling your Chico, California restaurant or do the task on your own. If you are considering selling your Chico, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Business Paperwork

This is an important initial step to take when you commence the process of selling your Chico, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of some general documents you may need to have on you:

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

Corbett Restaurant Group comes with experience to help you in the market for sale of your Chico, 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 possible buyer day one. However, you may want to have them ready because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your Chico, California restaurant through the lens of a buyer. This gives you a clear image of the Chico, California restaurant you are selling. In addition, it helps you identify whether there are any concerns you will need to address.

#2 Put Your Financials in Order

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

Offering your financial records to prospective buyers could assist to clear any doubt they may have regarding your Chico, California restaurant.

These financial documents can include:

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

In addition, ensure you have hard copies of all of these documents. This may make it easier for you to send the information to prospective buyers.

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

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Chico, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this helps them evaluate the value of your Chico, California restaurant.

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

The estimated time it may take to sell a Chico, California restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and slash various costs, and therefore strengthen the value of your Chico, 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 will assist you in estimating the probable worth of your Chico, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Chico, California restaurant will go a long way in helping you attract potential buyers. Conversely, if the general curb appeal of your Chico, California restaurant does not appeal to buyers, they could take a pass without a second look.

To avoid this from happening, everything in and out of your Chico, 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 clean floor are other easy items that could help create a great first impression.

Furthermore, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it might send the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and production capabilities. It may even dampen the mood of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning purchasing your Chico, California restaurant.

#7 look for Chico Buyers

Marketing to prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Chico, California restaurant broker to help. A professional Chico, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this task alone, you will need to create appropriate advertising. You can show your Chico, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Chico, California restaurant.

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

#8 Be Ready

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

You never know when a buyer will walk into your Chico, California restaurant. Some buyers may even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Chico, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The paperwork will usually start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Chico, California Restaurant Broker

Although attempting to sell your Chico, California restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business deal, you need a higher level of expertise in order to stand out against the cometitors while attempting to attract buyers.

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

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

Contact a Chico, California Restaurant Broker

Choosing to sell your Chico, California restaurant through a Chico, California restaurant broker has multiple advantages. First, however, you need to select the best Chico, California restaurant broker to help you in selling your Chico, California restaurant.

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

Chico Zip Codes We Support: 95926, 95927, 95928, 95929, 95973, 95976