Are You Ready to Sell Your Chula Vista, California Restaurant?

Following years of sweat equity, you have made the decision sell your Chula Vista, California restaurant

Contemplating starting a new Chula Vista, California restaurant, moving, or maybe retiring. No matter the reason, selling your Chula Vista, California restaurant can be way more difficult than you may think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the labor you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either think to hire a Chula Vista, California restaurant broker to help you in selling your Chula Vista, California restaurant or take on the task on your own. If you are considering selling your Chula Vista, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together any Important Paperwork

This is an important initial step to take when you start the process of offering your Chula Vista, California restaurant.

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

• Gather your assets
• Lease documentation
• 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 has the experience to help you in the market for sale of your Chula Vista, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to show all these documents to a possible buyer day one. However, you may want to have them at hand because you will certainly require them during the sales process.

In addition, putting together these documents lets you see your Chula Vista, California restaurant through the lens of a buyer. This gives you a clear picture of the Chula Vista, California restaurant you are selling. In addition, it allows you to identify if there are any concerns you'll have to take care of.

#2 Put Your Financials in Order

Your financial records are an important detail of selling your Chula Vista, California restaurant. This is the reason you should make an effort to make your documents accurate and well organized.

Offering your financial documents to possible buyers could aid clear any hesitations they may have concerning your Chula Vista, California restaurant.

These financial records can include:

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

Also, ensure you have duplicate copies of all of these documents. This will make it easier for you to transmit 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 about these things could create legal problems for you if a buyer later discovers these liabilities post sealing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Chula Vista, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this helps them estimate the value of your Chula Vista, California restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Chula Vista, California restaurant.

The estimated time it takes to sell a Chula Vista, California restaurant is 6 months. Within those six months, there is a lot you can do to increase your profit and slash several costs, and thus strengthen the value of your Chula Vista, California restaurant.

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

This will assist you in deriving the overall worth of your Chula Vista, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Chula Vista, California restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your Chula Vista, California restaurant does not look good to buyers, they might take a pass without a second look.

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

Clean windows, polished handles and a presentable floor are other small items that could help create a unforgettable initial impression.

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not working, it could convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial capabilities and output abilities. It could even lower the morale of your employees, 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 prospective buyers concerning purchasing your Chula Vista, California restaurant.

#7 Search for Chula Vista Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire a professional Chula Vista, California restaurant broker to help. A professional Chula Vista, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this task alone, you will need to create appropriate advertising. You can offer your Chula Vista, California restaurant on business websites and tell family and friends about your plans to sell your Chula Vista, California restaurant.

As you will likely run across competition when trying to sell your Chula Vista, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

You'll never know when a buyer will walk into your Chula Vista, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.

#9 Sell Your Chula Vista, California Restaurant

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

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

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

Choosing a Chula Vista, California Restaurant Broker

While attempting to sell your Chula Vista, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business deal, you need a higher level of expertise in order to stand above and against your cometitors while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Chula Vista, California restaurant broker comes in. A Chula Vista, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Chula Vista, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Chula Vista, California Restaurant Broker

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

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

Chula Vista Zip Codes We Support: 91902, 91908, 91909, 91910, 91911, 91912, 91913, 91914, 91915, 91921, 91950, 92154