Ready to Sell Your Clovis, California Restaurant?

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

Contemplating opening a different Clovis, California restaurant, relocating, or maybe slowing down. No matter the reason, selling your Clovis, 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 profit for all the labor you may have put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Put Together the Business Paperwork

This is a necessary initial step to make when you commence the process of selling your Clovis, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some general documents you may find helpful 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 experience to assist you in the sale of your Clovis, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to show all these documents to a potrntial buyer day one. But, you may want to have them at hand because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Clovis, California restaurant through the lens of a buyer. It gives you a clear picture of the Clovis, California restaurant you are selling. Furthermore, it allows you to identify if there are any loopholes you will have to address.

#2 Get Your Financial Documents in Order

Your financial records are an important aspect of selling your Clovis, California restaurant. This is why you should make an effort to have your documents complete and organized.

Showing your financial documents to potential buyers could aid clear any doubt they may have concerning your Clovis, California restaurant.

Your financial documents could include:

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

In addition, ensure you have soft copies of all of the documents. This could make it easier for you to transmit the documentation to possible buyers.

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

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Clovis, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Clovis, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this helps with estimating the value of the Clovis, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Clovis, California restaurant.

The estimated time it may take to sell a Clovis, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and slash various costs, and thus increase the worth of your Clovis, California restaurant.

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

This could aid you in estimating the probable worth of your Clovis, California restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Clovis, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the general appearance of your Clovis, California restaurant does not look good to buyers, they might pass over immediately.

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

Spot-free windows, polished door handles and a presentable floor are other simple things that would help create a memorable initial impression.

Furthermore, you should ensure all your equipment is in satisfactory condition. If your equipment is not working properly, it can convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial status and production capabilities. It can even dampen the morale of your staff, and in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Clovis Buyers

Marketing to 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 Clovis, California restaurant broker to help. A professional Clovis, California restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this project yourself, you will need to create appropriate advertising. You can list your Clovis, California restaurant on business websites and tell family and friends about your intentions to sell your Clovis, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Clovis, California restaurant yourself, or with a a Clovis, California restaurant broker, you need to always be ready. Be prepared to show your Clovis, California restaurant to prospective buyers at all times.

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

#9 Sell Your Clovis, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the contract. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s help in creating 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 Clovis, California restaurant, assets and equipment as well as inventory value.

Choosing a Clovis, California Restaurant Broker

While trying to sell your Clovis, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first-timers.

It's true, if you're looking to get the most from of the business transaction, you need some level of experience in order to stand out against the cometitors while trying to attract buyers.

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

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

Contact a Clovis, California Restaurant Broker

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

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

Clovis Zip Codes We Support: 93611, 93612, 93613, 93619, 93626, 93727, 93747