Ready to Sell Your Delano, California Restaurant?

Following years of hard work, you have decided to sell your Delano, California restaurant

Considering opening a new eatery, relocating, or maybe slowing down. Regardless of the reason, selling a Delano, California restaurant can be a lot more complicated than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough proceeds for all the sweat you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Delano, California restaurant or take on the task yourself. Whether considering selling your Delano, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together the Necessary Paperwork

This is a necessary preparatory step to take when you start the process of offering your Delano, California restaurant.

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

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

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

It's probably smart not to show the majority of these documents to a potrntial buyer day one. However, you may want to have them on hand because you will certainly require them during the sales process.

Also, compiling these documents allows you to view your Delano, California restaurant through the lens of a buyer. This gives you a clear image of the Delano, California restaurant you are selling. Furthermore, it helps you show whether there are any concerns you will need to address.

#2 Get Your Financials in Order

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

Showing your financial records to possible buyers could assist to clear any doubt they may have concerning your Delano, California restaurant.

The financial records may include:

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

In addition, make sure you have duplicate copies of all of the records. This can make it easier for you to send the information to possible buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things can create legal problems for you if a buyer later discovers these ommissions post closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Delano, California restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Delano, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this will help them evaluate the value of the Delano, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow planning to sell your Delano, California restaurant.

The average time it takes to sell a Delano, California restaurant is six months. Within the six months, there are several things you can do in order to increase your profit and slash several costs, and therefore strengthen the value of your Delano, California restaurant.

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

This could aid you in coming up with the probable value of your Delano, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Delano, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the general look of your Delano, California restaurant does not look good to buyers, they might take a pass without consideration.

To avoid this from happening, everything in and out of your Delano, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other easy items that could help create a memorable initial impression.

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

Non-functional equipment also raises doubt about your financial status and output abilities. 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 regarding purchasing your Delano, California restaurant.

#7 Search for Delano Buyers

Searching for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Delano, California restaurant broker to help. The professional Delano, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this project yourself, you will need to create appropriate advertising. You can offer your Delano, California restaurant on business websites and tell family and friends about your plans to sell your Delano, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer will visit your Delano, 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 Delano, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the contract. The documentation often start with the Asset Purchase Agreement.

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

This document includes details including the selling price of your Delano, California restaurant, assets and equipment and inventory value.

Choosing a Delano, California Restaurant Broker

Although trying to sell your Delano, California restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first-timers.

The fact remains, if you're looking to achieve the most from of the business deal, you need a higher level of expertise in order to stand out against your cometitors while attempting to attract buyers.

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

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

Contact a Delano, California Restaurant Broker

Deciding to sell your Delano, California restaurant through a Delano, California restaurant broker has multiple advantages. First, however, you need to select the best Delano, California restaurant broker to help you in selling your Delano, California restaurant.

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

Delano Zip Codes We Support: 93215, 93216, 93250, 93280