Are You Ready to Sell Your Cypress, California Restaurant?

After years of hard work, you have made the decision sell your Cypress, California restaurant

Contemplating opening a new eatery, moving, or even slowing down. No matter the reason, selling your Cypress, California restaurant can be way more complicated than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough money for all the time you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

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

#1 Gather the Necessary Paperwork

This is a necessary first step to take when you begin the process of offering your Cypress, California restaurant.

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

• A list of your assets
• Lease contract
• 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 has the experience to assist you in the sale of your Cypress, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to show all these documents to a possible buyer right away. But, you should have them ready because you will eventually need them during the sales process.

In addition, putting together these documents allows you to view your Cypress, California restaurant through the lens of a buyer. It gives you a clear image of the Cypress, California restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any concerns you'll have to take care of.

#2 Put Your Financials in Order

Your financial records are an important aspect of selling your Cypress, California restaurant. That’s why you should make an effort to have your documents accurate and organized.

Offering your financial documents to possible buyers could help clear any doubt they may have concerning your Cypress, California restaurant.

Your financial records could 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 the documents. This could make it easier for you to transmit the documentation to potential buyers.

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

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Cypress, California restaurant, you need to understand of your commercial lease. It could be disappointing 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 Cypress, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the true value of your Cypress, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Cypress, California restaurant.

The estimated time it takes to sell a Cypress, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and therefore strengthen the value of your Cypress, California restaurant.

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

This will aid you in coming up with the probable value of your Cypress, California restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Cypress, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the overall curb appeal of your Cypress, California restaurant does not look good to buyers, they could pass over without consideration.

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

Spot-free windows, polished door handles and a neat floor are other small things that could help create a memorable first impression.

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

Faulty equipment also raises doubt about your financial capabilities and production capabilities. It may even dampen the morale of your staff, 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 concerning buying your Cypress, California restaurant.

#7 Search for Cypress Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Cypress, California restaurant broker to help. The professional Cypress, California restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this project alone, you will need to carry out proper advertising. You can list your Cypress, California restaurant on listing websites and tell family and friends about your intentions to sell your Cypress, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Cypress, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the deal. The paperwork often begin with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your Cypress, California restaurant, items and equipment and inventory value.

Choosing a Cypress, California Restaurant Broker

While trying to sell your Cypress, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

It's true, in order for you to get the most from of the business deal, you need some level of experience in order to stand out against the competition while attempting to attract buyers.

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

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

Contact a Cypress, California Restaurant Broker

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

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

Cypress Zip Codes We Support: 90630, 90720