Time to Sell Your Daly City, California Restaurant?

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

Contemplating opening a different Daly City, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Daly City, California restaurant can be a lot more difficult than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to contract with a Daly City, California restaurant broker to help you in selling your Daly City, California restaurant or take on the task yourself. Whether considering selling your Daly City, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Necessary Documentation

This is an important initial step to make when you begin the process of marketing your Daly City, California restaurant.

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

• A list of your assets
• Lease contract
• 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 has the expertise to help you in the market for sale of your Daly City, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a potrntial buyer first day. But, you may want to have them ready because you will eventually require them during the sales process.

In addition, putting together these documents allows you to see your Daly City, California restaurant through the lens of a buyer. It provides you a clear image of the Daly City, California restaurant you are offering for sale. In addition, it helps you show if there are any areas you will need to take care of.

#2 Get Your Financial Records in Order

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

Showing your financial documents to potential buyers could aid clear any hesitations they may have regarding your Daly City, California restaurant.

The financial records can include:

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

Also, make sure you have duplicate copies of all of these documents. This may make it easier for you to send the records to possible buyers.

Likewise, as a seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things can create legal issues for you if a buyer later on discovers these ommissions post completing the deal.

#3 Gather the Details of Your Commercial Lease

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

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

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the true value of the Daly City, California restaurant.

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

The average time it may take to sell a Daly City, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and slash several costs, and therefore increase the value of your Daly City, California restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will aid you in estimating the probable value of your Daly City, California restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Daly City, California restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the general curb appeal of your Daly City, California restaurant does not look good to buyers, they likely take a pass without consideration.

To prevent this from happening, all things in and out of your Daly City, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot could help create appeal for potential buyers.

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

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working, it may convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial capabilities and production capabilities. It may even lower the mood of your employees, and 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 purchasing your Daly City, California restaurant.

#7 Search for Daly City Buyers

Looking for prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Daly City, California restaurant broker to help. The professional Daly City, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this task yourself, you will need to create appropriate advertising. You can offer your Daly City, California restaurant on listing websites and tell family and friends about your plans to sell your Daly City, California restaurant.

As you will likely run across competition when trying to sell your Daly City, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

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

#9 Sell Your Daly City, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the contract. The documentation will likely begin with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

This document includes details such as the selling price of your Daly City, California restaurant, assets and equipment as well as inventory value.

Choosing a Daly City, California Restaurant Broker

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

The fact remains, if you're looking to get the most out of the business deal, you need some level of expertise in order to stand out against your competition while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Daly City, California restaurant broker is needed. A Daly City, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Daly City, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Daly City, California Restaurant Broker

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

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

Daly City Zip Codes We Support: 94013, 94014, 94015, 94016, 94017