Decided to Sell Your El Cajon, California Restaurant?

After years of hard work, you have decided to sell your El Cajon, California restaurant

Considering starting a new eatery, relocating, or even slowing down. No matter the reason, selling your El Cajon, California restaurant can be way more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough money for all the time you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your El Cajon, California restaurant or take on the task on your own. If you are considering selling your El Cajon, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together all Important Documentation

This is a necessary initial step to make when you begin the process of offering your El Cajon, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of some standard documents you may need 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 drawings
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to help you in the sale of your El Cajon, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

In addition, compiling these documents lets you see your El Cajon, California restaurant through the lens of a buyer. It gives you a clear picture of the El Cajon, California restaurant you are offering for sale. In addition, it allows you to show whether there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial records are a crucial detail of selling your El Cajon, California restaurant. This is why you should strive to have your documents accurate and organized.

Offering your financial records to prospective buyers could aid clear any doubt they might have regarding your El Cajon, California restaurant.

Your financial documents can include:

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

Also, make sure you have hard copies of all of the records. This will make it easier for you to send the information to potential buyers.

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

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your El Cajon, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this will help them estimate the value of your El Cajon, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow planning to sell your El Cajon, California restaurant.

The average time it may take to sell a El Cajon, California restaurant is 6 months. Within the six months, there is a lot you can do to strengthen your profit and cut several costs, and thus increase the worth of your El Cajon, California restaurant.

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

This could aid you in estimating the overall value of your El Cajon, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your El Cajon, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the overall appearance of your El Cajon, California restaurant does not appeal to buyers, they might pass over without consideration.

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

Spot-free windows, polished handles and a presentable floor are other easy items that can help create a unforgettable first impression.

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

Faulty equipment may rouse doubt about your financial status and output abilities. It could even lower the mood of your employees, which in response, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning buying your El Cajon, California restaurant.

#7 Search for El Cajon Buyers

Looking for prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced El Cajon, California restaurant broker to help. A professional El Cajon, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this project alone, you will need to create proper advertising. You can offer your El Cajon, California restaurant on listing websites and let your family and friends know about your plans to market for sale your El Cajon, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will visit your El Cajon, California restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your El Cajon, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the contract. The paperwork will usually start with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a El Cajon, California Restaurant Broker

While attempting to sell your El Cajon, California restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first time sellers.

It's true, in order for you to get the most out of the business transaction, you need some level of experience to stand above and against your competition while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced El Cajon, California restaurant broker is recommended. A El Cajon, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your El Cajon, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a El Cajon, California Restaurant Broker

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

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

El Cajon Zip Codes We Support: 92019, 92020, 92021, 92071, 92090