Ready to Sell Your Colton, California Restaurant?

Following years of sweat equity, you have decided to sell your Colton, California restaurant

Considering opening a new eatery, relocating, or maybe retiring. Regardless of the reason, selling your Colton, California restaurant can be way more difficult than you might think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the sweat you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

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

#1 Gather any Important Documentation

This is a necessary preparatory step to take when you commence the process of marketing your Colton, California restaurant.

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

• A list of your assets
• Lease documentation
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documentation
• 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 Colton, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a possible buyer first day. However, you should have them ready because you will certainly need them during the sales process.

Also, compiling these documents lets you view your Colton, California restaurant through the lens of a buyer. This provides you a clear image of the Colton, California restaurant you are offering for sale. Furthermore, it allows you to identify whether there are any concerns you'll need to address.

#2 Get Your Financial Documents in Order

Your financial documents are an important detail of selling your Colton, California restaurant. This is the reason you should strive to have these documents accurate and organized.

Offering your financial documents to prospective buyers could aid clear any doubt they might have concerning your Colton, California restaurant.

Your financial records may include:

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

In addition, ensure you have duplicate copies of all of the records. This may make it easier for you to transmit the information to potential buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Colton, 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 is advisable to have a discussion with your landlord concerning your plan to sell your Colton, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

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

The estimated time it may take to sell a Colton, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and cut several costs, and therefore strengthen the value of your Colton, California restaurant.

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

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

#5 Increase Curb Appeal

The appearance of your Colton, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general appearance of your Colton, California restaurant does not look good to buyers, they likely pass over without consideration.

To prevent this from happening, everything in and out of your Colton, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot could help create appeal for potential buyers.

Clean windows, polished door handles and a clean floor are also easy things that would help create a great first impression.

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

Non-functional equipment may rouse doubt about your financial capabilities and output abilities. It could even lower the morale of your staff, which in response, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Colton Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Colton, California restaurant broker to help. A professional Colton, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you make the decision to take on this project alone, you will need to carry out proper advertising. You can market your Colton, California restaurant on business websites and tell family and friends about your plans to sell your Colton, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Colton, California restaurant. Some buyers may even visit as customers just to carry out some research before contacting you.

#9 Sell Your Colton, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the transaction. The paperwork often start with the Asset Purchase Agreement.

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

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

Choosing a Colton, California Restaurant Broker

Although trying to sell your Colton, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

The fact remains, in order for you to achieve the most out of the business transaction, you need a higher level of expertise in order to stand above and against your cometitors while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Colton, California restaurant broker is needed. A Colton, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Colton, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

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

Contact a Colton, California Restaurant Broker

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

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

Colton Zip Codes We Support: 92313, 92316, 92324