Decided to Sell Your Claremont, California Restaurant?

Following years of hard work, you have made the decision sell your Claremont, California restaurant

Contemplating starting a new Claremont, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling your Claremont, California restaurant can be way more difficult than you might think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough proceeds for all the labor you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either make the decision to hire a Claremont, California restaurant broker to assist you in selling your Claremont, California restaurant or do the task yourself. If you are considering selling your Claremont, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Business Documentation

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

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

• Gather your assets
• Lease contract
• 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 has the expertise to assist you in the sale of your Claremont, 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 right away. However, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you see your Claremont, California restaurant through the lens of a buyer. It gives you a clear picture of the Claremont, California restaurant you're selling. In addition, it allows you to show if there are any concerns you'll have to address.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial aspect of selling your Claremont, California restaurant. That’s why you should strive to make your documents accurate and well organized.

Showing your financial documents to possible buyers could assist to clear any hesitations they may have concerning your Claremont, California restaurant.

Your financial documents may 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 the documents. This may make it easier for you to transmit the information to potential buyers.

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

#3 Organize the Details of Your Commercial Lease

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

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Claremont, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this will help them evaluate the value of your Claremont, California restaurant.

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

The estimated time it takes to sell a Claremont, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and therefore increase the value of your Claremont, California restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will help you in coming up with the overall worth of your Claremont, California restaurant. If you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Claremont, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall appearance of your Claremont, California restaurant does not look good to buyers, they might take a pass without consideration.

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

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

Furthermore, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working properly, it may send the message that you're in a hurry 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 turn, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Claremont Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Claremont, California restaurant broker to help. The professional Claremont, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this task alone, you will need to create proper advertising. You can offer your Claremont, California restaurant on business websites and tell family and friends about your intentions to market for sale your Claremont, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Claremont, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the contract. The documentation will likely 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 detail of the contract.

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

Choosing a Claremont, California Restaurant Broker

Although attempting to sell your Claremont, California restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first-timers.

It's true, if you're looking to achieve the most out of the business transaction, you need some level of experience to stand out against the cometitors while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Claremont, California restaurant broker comes in. A Claremont, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Claremont, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Claremont, California Restaurant Broker

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

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

Claremont Zip Codes We Support: 91711, 91750