Right Time to Sell Your Corcoran, California Restaurant?

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

Considering opening a different eatery, relocating, or even retiring. No matter the reason, selling a Corcoran, California restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully get out with enough money for all the sweat you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You can either think to contract with a Corcoran, California restaurant broker to help you in selling your Corcoran, California restaurant or do the task on your own. Whether considering selling your Corcoran, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together all Necessary Paperwork

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

The necessary paperwork may vary from state to state--even in California, but the following is a list of some general documents you may need to have ready:

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

Corbett Restaurant Group comes with expertise to assist you in the sale of your Corcoran, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to reveal all these documents to a potrntial buyer first day. But, you may want to have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Corcoran, California restaurant through the lens of a buyer. This provides you a clear image of the Corcoran, California restaurant you're selling. Furthermore, it helps you show if there are any concerns you will have to address.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Corcoran, California restaurant. That’s why you should make it a priority to make these documents complete and organized.

Showing your financial records to prospective buyers could help clear any hesitations they might have regarding your Corcoran, California restaurant.

The financial documents could include:

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

Also, make sure you have hard copies of all of the documents. This can make it easier for you to transmit the records to potential buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things may create legal issues for you if a buyer later discovers these ommissions after sealing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Corcoran, California restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the true value of the Corcoran, 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 starting to sell your Corcoran, California restaurant.

The estimated time it may take to sell a Corcoran, California restaurant is 6 months. Within the six months, there are many things you can do in order to strengthen your profit and slash several costs, and therefore increase the worth of your Corcoran, California restaurant.

In addition, 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 could assist you in coming up with the overall value of your Corcoran, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Corcoran, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Corcoran, California restaurant does not look good to buyers, they likely take a pass without a second look.

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

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

Furthermore, you should make sure that all the equipment is in satisfactory 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 can raise doubt about your financial situation and production abilities. It may 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 purchasing your Corcoran, California restaurant.

#7 Search for Corcoran Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire a professional Corcoran, California restaurant broker to help. A professional Corcoran, California restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this task by yourself, you will need to carry out appropriate advertising. You can market your Corcoran, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Corcoran, California restaurant.

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

#8 Be Ready

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

You never know when a buyer will walk into your Corcoran, California restaurant. Some buyers may even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your Corcoran, California Restaurant

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

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

This document includes details including the selling price of your Corcoran, California restaurant, assets and equipment and inventory value.

Choosing a Corcoran, California Restaurant Broker

While attempting to sell your Corcoran, California restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first time sellers.

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 out against the cometitors while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Corcoran, California restaurant broker is needed. A Corcoran, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Corcoran, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Corcoran, California Restaurant Broker

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

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

Corcoran Zip Codes We Support: 93212