Decided to Sell Your East Palo Alto, California Restaurant?

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

Considering starting a new eatery, relocating, or even slowing down. Regardless of the reason, selling a East Palo Alto, California restaurant can be way more difficult than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the sweat you may have put into it.

Important Actions to Take when Selling Your Restaurant

You may either think to hire a East Palo Alto, California restaurant broker to guide you in selling your East Palo Alto, California restaurant or do the task yourself. If you are considering selling your East Palo Alto, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together the Business Paperwork

This is a necessary preparatory step to make when you start the process of offering your East Palo Alto, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of some standard documents you may be requierd to have ready:

• 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 experience to assist you in the sale of your East Palo Alto, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a possible buyer first day. But, you should have them at hand because you will certainly need them during the sales process.

Also, putting together these documents lets you see your East Palo Alto, California restaurant through the lens of a buyer. This gives you a clear picture of the East Palo Alto, California restaurant you're selling. Furthermore, it allows you to show whether there are any areas you will have to take care of.

#2 Put Your Financials in Order

Your financial documents are an important part of selling your East Palo Alto, California restaurant. That’s why you should strive to have these documents accurate and organized.

Showing your financial documents to prospective buyers may assist to clear any doubt they may have regarding your East Palo Alto, California restaurant.

These 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 records. This may make it easier for you to send the records to potential buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your East Palo Alto, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your East Palo Alto, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of your East Palo Alto, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow planning to sell your East Palo Alto, California restaurant.

The average time it takes to sell a East Palo Alto, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and slash various costs, and therefore strengthen the worth of your East Palo Alto, 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 may assist you in coming up with the overall value of your East Palo Alto, California restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Attractive

The first impression of your East Palo Alto, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall appearance of your East Palo Alto, California restaurant does not appeal to buyers, they could pass over immediately.

To avoid this from happening, all things in and out of your East Palo Alto, California restaurant must be cleaned and maintained. Manicured and a clean parking area may help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are other simple things that could help create a great initial impression.

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

Faulty equipment may rouse doubt about your financial capabilities and production capabilities. It may even lower the morale of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your East Palo Alto, California restaurant.

#7 Search for East Palo Alto Buyers

Looking for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional East Palo Alto, California restaurant broker to help. A professional East Palo Alto, California restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this task yourself, you will need to create proper advertising. You can show your East Palo Alto, California restaurant on listing websites and let your family and friends know about your plans to market for sale your East Palo Alto, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your East Palo Alto, California restaurant yourself, or through a East Palo Alto, California restaurant broker, you need to always be ready. Be ready to show your East Palo Alto, California restaurant to potential buyers at all times.

You will never know when a buyer could visit your East Palo Alto, California restaurant. Some buyers might even visit as customers just to perform some research before contacting you.

#9 Sell Your East Palo Alto, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The documentation will usually begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the transaction.

This document includes details such as the selling price of your East Palo Alto, California restaurant, items and equipment as well as inventory value.

Choosing a East Palo Alto, California Restaurant Broker

Although attempting to sell your East Palo Alto, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

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

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

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

Contact a East Palo Alto, California Restaurant Broker

Deciding to sell your East Palo Alto, California restaurant through a East Palo Alto, California restaurant broker has multiple advantages. First, however, you need to select the best East Palo Alto, California restaurant broker to assist you in selling your East Palo Alto, California restaurant.

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

East Palo Alto Zip Codes We Support: 94303