Are You Ready to Sell Your Costa Mesa, California Restaurant?

Following years of labor, you have made the decision sell your Costa Mesa, California restaurant

Contemplating starting a new Costa Mesa, California restaurant, relocating, or maybe slowing down. No matter the reason, selling your Costa Mesa, California restaurant can be way more challenging than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the time you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You may either make the decision to contract with a Costa Mesa, California restaurant broker to help you in selling your Costa Mesa, California restaurant or take on the task yourself. Whether considering selling your Costa Mesa, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together the Important Paperwork

This is a necessary first step to take when you commence the process of marketing your Costa Mesa, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of a few standard documents you may need to have at hand:

• 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 experience to help you in the market for sale of your Costa Mesa, 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 prospective buyer right away. However, you may want to have them on hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you view your Costa Mesa, California restaurant through the lens of a buyer. It provides you a clear image of the Costa Mesa, California restaurant you are selling. Furthermore, it helps you show whether there are any loopholes you'll need to take care of.

#2 Put Your Financials in Order

Your financial documents are a crucial aspect of selling your Costa Mesa, California restaurant. This is the reason you should make it a priority to make these documents complete and well organized.

Offering your financial records to possible buyers could help clear any hesitations they may have concerning your Costa Mesa, California restaurant.

These financial documents could include:

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

In addition, make sure you have soft copies of all of these records. This can make it easier for you to transmit the records to potential buyers.

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

#3 Gather the Information On Your Commercial Lease

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

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

#4 Have Your Restauarant Appraised

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

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

The average time it may take to sell a Costa Mesa, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and cut several costs, and thus increase the worth of your Costa Mesa, 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 help you in estimating the overall value of your Costa Mesa, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Costa Mesa, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your Costa Mesa, California restaurant does not look good to buyers, they might pass over without consideration.

To avoid this from happening, everything in and out of your Costa Mesa, California restaurant must be clean. Manicured and a clean parking lot may help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are also easy things that could help create a great initial impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working, it might send the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial status and production capabilities. It may even lower the mood of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Costa Mesa, California restaurant.

#7 look for Costa Mesa Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Costa Mesa, California restaurant broker to help. The professional Costa Mesa, California restaurant broker will come with recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this task yourself, you will need to create appropriate advertising. You can show your Costa Mesa, California restaurant on listing websites and tell family and friends about your plans to sell your Costa Mesa, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Costa Mesa, California Restaurant

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

You may need your attorney’s expertise in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Costa Mesa, California Restaurant Broker

While trying to sell your Costa Mesa, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

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

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

With the assistance of a Costa Mesa, California restaurant broker, you can focus your undivided attention on operating your Costa Mesa, California restaurant and rest easy with the knowledge that a professional is in charge of selling your Costa Mesa, California restaurant.

Contact a Costa Mesa, California Restaurant Broker

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

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

Costa Mesa Zip Codes We Support: 92626, 92627, 92628