Are You Ready to Sell Your Coachella, California Restaurant?

Following years of labor, you have decided to sell your Coachella, California restaurant

Contemplating starting a different Coachella, California restaurant, moving, or even slowing down. Regardless of the reason, selling a Coachella, California restaurant can be a lot more difficult than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough profit for all the labor you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either make the decision to contract with a Coachella, California restaurant broker to guide you in selling your Coachella, California restaurant or do the task on your own. Whether considering selling your Coachella, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Important Documentation

This is a necessary preparatory step to make when you start the process of offering your Coachella, California restaurant.

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

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

Corbett Restaurant Group has the experience to help you in the market for sale of your Coachella, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to show all these documents to a potrntial buyer day one. However, you should have them ready because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your Coachella, California restaurant through the lens of a buyer. This gives you a clear picture of the Coachella, California restaurant you're offering for sale. In addition, it helps you identify whether there are any concerns you'll need to address.

#2 Get Your Financials in Order

Your financial records are a crucial detail of selling your Coachella, California restaurant. That’s the reason you should make an effort to make these documents accurate and organized.

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

These financial records may include:

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

Also, make sure you have soft copies of all of the documents. This could make it easier for you to send the records to potential buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later discovers these ommissions after completing the deal.

#3 Put Together the Details of Your Commercial Lease

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

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

#4 Appraise Your Restaurant

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the true value of your Coachella, California restaurant.

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

The estimated time it takes to sell a Coachella, 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 therefore strengthen the value of your Coachella, 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 may help you in deriving the probable value of your Coachella, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Coachella, California restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Coachella, California restaurant does not appeal to buyers, they could pass over immediately.

To prevent this from happening, everything in and out of your Coachella, California restaurant must be clean. Landscaping and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are other easy items that can help create a great first impression.

Furthermore, you should make sure all the equipment is in satisfactory condition. If your equipment is not functioning, it might convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial situation and production capabilities. It could even dampen the mood of your employees, 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 prospective buyers concerning buying your Coachella, California restaurant.

#7 Search for Coachella Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Coachella, California restaurant broker to help. A professional Coachella, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this task yourself, you will need to create appropriate advertising. You can offer your Coachella, California restaurant on listing websites and tell family and friends about your plans to market for sale your Coachella, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Coachella, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the deal. The documentation will usually begin with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Coachella, California Restaurant Broker

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

It's true, in order for you to get the most from of the business transaction, you need some level of experience to stand out against the competition while attempting to find buyers.

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

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

Contact a Coachella, California Restaurant Broker

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

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

Coachella Zip Codes We Support: 92236, 92274