Time to Sell Your Dana Point, California Restaurant?

After years of sweat equity, you have decided to sell your Dana Point, California restaurant

Considering starting a new eatery, moving, or maybe retiring. No matter the reason, selling your Dana Point, California restaurant can be a lot more difficult than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You can either think to hire a eatery broker to guide you in selling your Dana Point, California restaurant or take on the task yourself. If you are considering selling your Dana Point, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather any Necessary Paperwork

This is an important preparatory step to make when you begin the process of offering your Dana Point, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of some general documents you may be requierd to have on you:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Dana Point, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer right away. However, you may want to have them at hand because you will eventually require them during the sales process.

In addition, putting together these documents lets you view your Dana Point, California restaurant through the lens of a buyer. This gives you a clear picture of the Dana Point, California restaurant you're offering for sale. Furthermore, it allows you to show whether there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial aspect of selling your Dana Point, California restaurant. This is why you should strive to have your documents complete and well organized.

Showing your financial documents to prospective buyers may aid clear any doubt they might have concerning your Dana Point, California restaurant.

These financial documents could include:

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

Also, ensure you have soft copies of all of the documents. This may make it easier for you to transmit the documentation to potential buyers.

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

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Dana Point, California restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Dana Point, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financial records, whether favorable or not, this helps them estimate the true value of your Dana Point, California restaurant.

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

The average time it may take to sell a Dana Point, California restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and slash several costs, and thus increase the worth of your Dana Point, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will assist you in estimating the probable value of your Dana Point, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Dana Point, California restaurant can go a long way in helping you bring potential buyers. Conversely, if the overall appearance of your Dana Point, California restaurant does not appeal to buyers, they likely take a pass without a second look.

To avoid this from happening, all things in and out of your Dana Point, California restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create curb appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are other small items that can help create a great first impression.

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

Faulty equipment can raise doubt about your financial situation and output capabilities. It may even dampen the morale of your employees, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning purchasing your Dana Point, California restaurant.

#7 look for Dana Point Buyers

Searching for potential buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Dana Point, California restaurant broker to help. A professional Dana Point, 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 project by yourself, you will need to carry out appropriate advertising. You can show your Dana Point, California restaurant on business websites and let your family and friends know about your plans to sell your Dana Point, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Dana Point, California restaurant yourself, or with a a Dana Point, California restaurant broker, you need to always be ready. Be ready to show your Dana Point, California restaurant to potential buyers at all times.

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

#9 Sell Your Dana Point, California Restaurant

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

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

This document includes details including the selling price of your Dana Point, California restaurant, items and equipment as well as inventory value.

Choosing a Dana Point, California Restaurant Broker

While attempting to sell your Dana Point, California restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business transaction, you need a higher level of experience to stand out against your cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Dana Point, California restaurant broker comes in. A Dana Point, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Dana Point, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Dana Point, California Restaurant Broker

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

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

Dana Point Zip Codes We Support: 92624, 92629, 92651, 92675