Ready to Sell Your Chino Hills, California Restaurant?

After years of labor, you have made the decision sell your Chino Hills, California restaurant

Considering opening a different eatery, relocating, or even slowing down. No matter the reason, selling a Chino Hills, California restaurant can be a lot more difficult than you might think. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the sweat you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Chino Hills, California restaurant or do the task yourself. If you are considering selling your Chino Hills, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together all Business Documentation

This is a necessary first step to take when you commence the process of marketing your Chino Hills, California restaurant.

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

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

Corbett Restaurant Group comes with expertise to help you in the market for sale of your Chino Hills, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

Also, compiling these documents allows you to view your Chino Hills, California restaurant through the lens of a buyer. This provides you a clear picture of the Chino Hills, California restaurant you're offering for sale. In addition, it helps you identify whether there are any loopholes you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial records are an important detail of selling your Chino Hills, California restaurant. That’s the reason you should make it a priority to make your documents complete and organized.

Showing your financial records to possible buyers may aid clear any hesitations they may have concerning your Chino Hills, California restaurant.

The financial documents can 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 the records. This may make it easier for you to send the records to potential buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these ommissions post completing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Chino Hills, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Chino Hills, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the value of the Chino Hills, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow planning to sell your Chino Hills, California restaurant.

The estimated time it takes to sell a Chino Hills, California restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and reduce several costs, and thus strengthen the worth of your Chino Hills, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This could assist you in estimating the probable worth of your Chino Hills, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Chino Hills, California restaurant could go a great distance in helping you bring potential buyers. Conversely, if the general look of your Chino Hills, California restaurant does not look good to buyers, they might take a pass without consideration.

To prevent this from happening, all things in and out of your Chino Hills, California restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished handles and a clean floor are other small things that would help create a great initial impression.

Additionally, you should ensure that all the equipment is in top condition. If your equipment is not working properly, it may send the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial situation and output capabilities. It may even lower the mood 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 regarding buying your Chino Hills, California restaurant.

#7 Search for Chino Hills Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Chino Hills, California restaurant broker to help. The professional Chino Hills, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this project yourself, you will need to carry out appropriate advertising. You can show your Chino Hills, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Chino Hills, California restaurant.

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

#8 Be Ready

If you decide to sell your Chino Hills, California restaurant yourself, or with a a Chino Hills, California restaurant broker, you need to always be prepared. Be prepared to show your Chino Hills, California restaurant to prospective buyers at all times.

You never know when a buyer could visit your Chino Hills, California restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.

#9 Sell Your Chino Hills, California Restaurant

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

You should have your attorney’s help in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This document includes details such as the selling price of your Chino Hills, California restaurant, items and equipment and inventory value.

Choosing a Chino Hills, California Restaurant Broker

While attempting to sell your Chino Hills, California restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business deal, you need some level of expertise in order to stand out against your cometitors while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Chino Hills, California restaurant broker is recommended. A Chino Hills, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Chino Hills, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Chino Hills, California Restaurant Broker

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

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

Chino Hills Zip Codes We Support: 91709, 91710