Decided to Sell Your Duarte, California Restaurant?

After years of labor, you have made the decision sell your Duarte, California restaurant

Contemplating starting a different eatery, relocating, or maybe retiring. Regardless of the reason, selling a Duarte, California restaurant can be way more challenging than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the time you’ve put into it.

Important Steps to Take in Selling Your Restaurant

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

#1 Gather any Important Documentation

This is a necessary first step to make when you commence the process of marketing your Duarte, California restaurant.

The necessary documents may vary from state to state--even in California, but below 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 records
• Architectural plans
• Financial statements and other important financial documents

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

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

Also, putting together these documents lets you see your Duarte, California restaurant through the lens of a buyer. It gives you a clear picture of the Duarte, California restaurant you're selling. Furthermore, it helps you show whether there are any areas you will have to address.

#2 Put Your Financials in Order

Your financial documents are an important aspect of selling your Duarte, California restaurant. That’s the reason you should strive to have your documents complete and organized.

Offering your financial documents to prospective buyers could aid clear any hesitations they might have regarding your Duarte, California restaurant.

Your financial documents may include:

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

In addition, make sure you have hard copies of all of the documents. This could make it easier for you to transmit the information to potential buyers.

Also, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later discovers these liabilities post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Duarte, California restaurant, you need to understand 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 is advisable to talk to your landlord concerning your plan to sell your Duarte, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this will help them estimate the true value of the Duarte, California restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to increase your cash flow before trying to sell your Duarte, California restaurant.

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

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may assist you in deriving the overall value of your Duarte, California restaurant. When you understand the overall value this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Duarte, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall appearance of your Duarte, California restaurant does not appeal to buyers, they might take a pass right off the bat.

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

Spot-free windows, polished handles and a clean floor are other simple items that can help create a memorable first impression.

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

Faulty equipment also raises doubt about your financial situation and production capabilities. It could even dampen the mood 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 buying your Duarte, California restaurant.

#7 look for Duarte Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Duarte, California restaurant broker to help. The professional Duarte, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to create proper advertising. You can offer your Duarte, California restaurant on business websites and let your family and friends know about your plans to market for sale your Duarte, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer could visit your Duarte, California restaurant. Some buyers may even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your Duarte, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the transaction. The paperwork often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Duarte, California Restaurant Broker

Although trying to sell your Duarte, California restaurant on your own can be an exhilarating endeavor, it can also be very risky, especially for first-timers.

The fact remains, in order for you to get the most out of the business deal, you need a higher level of experience in order to stand out against the competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Duarte, California restaurant broker comes in. A Duarte, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Duarte, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Duarte, California Restaurant Broker

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

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

Duarte Zip Codes We Support: 91008, 91010, 91017