Right Time to Sell Your El Centro, California Restaurant?

Following years of labor, you have made the decision sell your El Centro, California restaurant

Contemplating opening a new eatery, relocating, or even retiring. Regardless of the reason, selling your El Centro, California restaurant can be a lot more challenging than you might realize. This is because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the time you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You may either decide to contract with a El Centro, California restaurant broker to assist you in selling your El Centro, California restaurant or take on the task yourself. If you are considering selling your El Centro, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Documentation

This is a necessary preparatory step to make when you begin the process of selling your El Centro, California restaurant.

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

• A list of your assets
• Lease documentation
• 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 expertise to help you in the sale of your El Centro, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, compiling these documents allows you to view your El Centro, California restaurant through the lens of a buyer. It gives you a clear picture of the El Centro, California restaurant you are offering for sale. In addition, it allows you to show if there are any loopholes you will have to take care of.

#2 Get Your Financials in Order

Your financial records are a crucial detail of selling your El Centro, California restaurant. That’s why you should make it a priority to make your documents accurate and organized.

Offering your financial documents to prospective buyers may assist to clear any hesitations they might have regarding your El Centro, California restaurant.

The financial records could 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 these documents. This may make it easier for you to transmit the information to possible buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your El Centro, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your El Centro, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financial records, whether favorable or not, this helps them estimate the value of the El Centro, California restaurant.

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

The average time it may take to sell a El Centro, California restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and slash several costs, and therefore increase the worth of your El Centro, California restaurant.

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

This could assist you in deriving the probable worth of your El Centro, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Attractive

The appearance of your El Centro, California restaurant will go a long way in helping you attract potential buyers. Conversely, if the overall look of your El Centro, California restaurant does not appeal to buyers, they might pass over right off the bat.

To prevent this from happening, everything in and out of your El Centro, California restaurant must be clean. Manicured and a clean parking area could help create appeal for prospective buyers.

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

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not functioning, it can send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial capabilities and production capabilities. It could even dampen 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 buying your El Centro, California restaurant.

#7 look for El Centro Buyers

Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced El Centro, California restaurant broker to help. A professional El Centro, California restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to take on this task yourself, you will need to carry out appropriate advertising. You can show your El Centro, California restaurant on business websites and tell family and friends about your plans to sell your El Centro, California restaurant.

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

#8 Be Prepared

If you decide to sell your El Centro, California restaurant yourself, or with a a El Centro, California restaurant broker, you should always be prepared. Be prepared to show your El Centro, California restaurant to potential buyers at all times.

You never know when a buyer will walk into your El Centro, California restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your El Centro, California Restaurant

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

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

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

Choosing a El Centro, California Restaurant Broker

While attempting to sell your El Centro, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

It's true, if you're looking to get the most out of the business transaction, you need a higher level of experience in order 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 El Centro, California restaurant broker is needed. A El Centro, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your El Centro, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

With the help of a El Centro, California restaurant broker, you can focus your undivided attention on operating your El Centro, California restaurant and rest assured knowing that a professional is in charge of selling your El Centro, California restaurant.

Contact a El Centro, California Restaurant Broker

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

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

El Centro Zip Codes We Support: 92243, 92244