Decided to Sell Your Concord, California Restaurant?

After years of hard work, you have decided to sell your Concord, California restaurant

Contemplating starting a new eatery, moving, or maybe slowing down. Regardless of the reason, selling your Concord, California restaurant can be a lot more challenging 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 time you may have put into it.

Important Actions to Take in Selling Your Restaurant

You can either decide to hire a Concord, California restaurant broker to assist you in selling your Concord, California restaurant or do the task on your own. Whether considering selling your Concord, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Necessary Paperwork

This is an important initial step to take when you begin the process of marketing your Concord, California restaurant.

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

• Gather your assets
• Lease document
• 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 comes with expertise to assist you in the sale of your Concord, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a prospective buyer day one. But, you should have them on hand because you will eventually need them during the sales process.

In addition, putting together these documents lets you view your Concord, California restaurant through the lens of a buyer. It provides you a clear picture of the Concord, California restaurant you are offering for sale. In addition, it helps you identify whether there are any concerns you will have to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial aspect of selling your Concord, California restaurant. This is why you should make an effort to make your documents accurate and well organized.

Showing your financial records to prospective buyers may help clear any doubt they may have regarding your Concord, California restaurant.

Your financial documents can 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 these documents. This may make it easier for you to send the documentation to potential buyers.

Likewise, as a seller, you must disclose information including 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 ommissions after closing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Concord, California restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this helps with estimating the true value of your Concord, California restaurant.

It is therefore 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 Concord, California restaurant.

The estimated time it may take to sell a Concord, California restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and cut several costs, and thus strengthen the worth of your Concord, California restaurant.

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

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

#5 Increase Curb Appeal

The appearance of your Concord, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the general aesthetic of your Concord, California restaurant does not appeal to buyers, they likely pass over right off the bat.

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

Clean windows, polished door handles and a clean floor are other simple things that could help create a memorable first impression.

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

Faulty equipment could raise doubt about your financial capabilities and production capabilities. It could even dampen the morale of your staff, and in response, 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 Concord, California restaurant.

#7 look for Concord Buyers

Marketing to potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Concord, California restaurant broker to help. A professional Concord, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this project by yourself, you will need to carry out proper advertising. You can market your Concord, California restaurant on listing websites and let your family and friends know about your plans to sell your Concord, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Concord, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the deal. The paperwork 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 ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Concord, California Restaurant Broker

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

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

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Concord, California restaurant broker is needed. A Concord, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Concord, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Concord, California Restaurant Broker

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

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

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