Time to Sell Your Cupertino, California Restaurant?

Following years of hard work, you have made the decision sell your Cupertino, California restaurant

Considering starting a different eatery, moving, or maybe slowing down. No matter the reason, selling your Cupertino, California restaurant can be way more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out 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 contract with a eatery broker to guide you in selling your Cupertino, California restaurant or do the task on your own. If you are considering selling your Cupertino, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Business Paperwork

This is an important first step to take when you begin the process of selling your Cupertino, California restaurant.

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

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

Corbett Restaurant Group has the expertise to help you in the sale of your Cupertino, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to show the majority of these documents to a potrntial buyer right away. But, you may want to have them ready because you will eventually require them during the sales process.

In addition, compiling these documents allows you to see your Cupertino, California restaurant through the lens of a buyer. It provides you a clear image of the Cupertino, California restaurant you are offering for sale. In addition, it allows you to identify whether there are any loopholes you will have to address.

#2 Put Your Financial Records in Order

Your financial documents are an important part of selling your Cupertino, California restaurant. This is why you should make it a priority to have these documents complete and well organized.

Offering your financial records to possible buyers may help clear any doubt they may have concerning your Cupertino, California restaurant.

Your financial documents may include:

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

Also, ensure you have hard copies of all of these documents. This can make it easier for you to send the information to possible buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Cupertino, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the value of the Cupertino, California restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow before trying to sell your Cupertino, California restaurant.

The average time it takes to sell a Cupertino, California restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and therefore strengthen the value of your Cupertino, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This may help you in estimating the probable worth of your Cupertino, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Cupertino, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Cupertino, California restaurant does not appeal to buyers, they might pass over immediately.

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

Spot-free windows, polished door handles and a presentable floor are other simple things that can help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial status and production capabilities. It can even lower the morale of your staff, and in turn, 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 Cupertino, California restaurant.

#7 look for Cupertino Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Cupertino, California restaurant broker to help. A professional Cupertino, California restaurant broker will come with 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 create appropriate advertising. You can market your Cupertino, California restaurant on business websites and let your family and friends know about your plans to sell your Cupertino, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Cupertino, California restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Cupertino, California Restaurant

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

You may need your attorney’s expertise in creating this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Cupertino, California Restaurant Broker

Although attempting to sell your Cupertino, 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 get the most out of the business deal, you need a higher level of expertise to stand above and against the competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Cupertino, California restaurant broker comes in. A Cupertino, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Cupertino, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Cupertino, California Restaurant Broker

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

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

Cupertino Zip Codes We Support: 94024, 95014, 95015, 95051, 95070, 95108