Decided to Sell Your East Irvine, California Restaurant?

Following years of sweat equity, you have decided to sell your East Irvine, California restaurant

Considering opening a new East Irvine, California restaurant, relocating, or even slowing down. Regardless of the reason, selling your East Irvine, California restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the time you’ve put into it.

Important Steps to Take in Selling Your Restaurant

You may either think to hire a East Irvine, California restaurant broker to help you in selling your East Irvine, California restaurant or take on the task on your own. If you are considering selling your East Irvine, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together all Necessary Paperwork

This is an important preparatory step to take when you start the process of selling your East Irvine, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of a few generalized documents you may find helpful to have at hand:

• A list of your assets
• Lease documentation
• 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 comes with experience to assist you in the market for sale of your East Irvine, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a possible buyer right away. But, you may want to have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents allows you to see your East Irvine, California restaurant through the lens of a buyer. This provides you a clear image of the East Irvine, California restaurant you're selling. Furthermore, it allows you to show whether there are any concerns you'll have to take care of.

#2 Put Your Financial Records in Order

Your financial records are a crucial part of selling your East Irvine, California restaurant. This is the reason you should make it a priority to make these documents complete and organized.

Showing your financial records to possible buyers may help clear any hesitations they may have concerning your East Irvine, California restaurant.

The financial records 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 these documents. This can make it easier for you to send the documentation to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these items could create legal issues for you if a buyer later discovers these liabilities post completing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your East Irvine, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your East Irvine, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the true value of the East Irvine, California restaurant.

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

The estimated time it may take to sell a East Irvine, California restaurant is 6 months. Within the six months, there are many things you can do to increase your profit and reduce various costs, and therefore increase the value of your East Irvine, California restaurant.

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

This will assist you in deriving the overall worth of your East Irvine, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your East Irvine, California restaurant can go a long way in helping you bring potential buyers. Conversely, if the overall curb appeal of your East Irvine, California restaurant does not look good to buyers, they might pass over right off the bat.

To avoid this from happening, everything in and out of your East Irvine, California restaurant must be cleaned and maintained. Landscaped and a clean parking area could help create appeal for potential buyers.

Spot-free windows, polished door handles and a clean floor are other easy things that would help create a unforgettable initial impression.

Furthermore, you should make sure all your 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 could raise doubt about your financial status and production capabilities. It may even lower the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your East Irvine, California restaurant.

#7 look for East Irvine Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced East Irvine, California restaurant broker to help. The professional East Irvine, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to create proper advertising. You can list your East Irvine, California restaurant on listing websites and tell family and friends about your intentions to market for sale your East Irvine, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your East Irvine, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.

#9 Sell Your East Irvine, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The documentation will usually start with the Asset Purchase Agreement.

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

This document includes details including the selling price of your East Irvine, California restaurant, items and equipment and inventory value.

Choosing a East Irvine, California Restaurant Broker

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

It's true, in order for you to get the most from of the business transaction, you need some level of experience to stand out against the cometitors while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced East Irvine, California restaurant broker is needed. A East Irvine, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your East Irvine, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a East Irvine, California Restaurant Broker

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

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

East Irvine Zip Codes We Support: 92650