Time to Sell Your El Cerrito, California Restaurant?

Following years of sweat equity, you have decided to sell your El Cerrito, California restaurant

Considering starting a new El Cerrito, California restaurant, relocating, or maybe retiring. No matter the reason, selling your El Cerrito, California restaurant can be a lot more challenging than you might think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Gather the Necessary Documentation

This is an important preparatory step to take when you begin the process of marketing your El Cerrito, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of some generalized documents you may need to have prepared:

• Gather your assets
• Lease documentation
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural plan
• Financial statements and other important financial documents

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

It's probably best not to show the majority of these documents to a potrntial buyer right away. But, you should have them at hand because you will eventually require them during the sales process.

In addition, putting together these documents lets you see your El Cerrito, California restaurant through the lens of a buyer. It provides you a clear picture of the El Cerrito, California restaurant you're selling. Furthermore, it helps you show if there are any areas you will need to address.

#2 Put Your Financial Documents in Order

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

Offering your financial records to possible buyers may assist to clear any hesitations they may have concerning your El Cerrito, California restaurant.

These financial records may 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.

Likewise, as the seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these things may create legal problems for you if a buyer later on discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

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

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your El Cerrito, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this will help them evaluate the value of the El Cerrito, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your El Cerrito, California restaurant.

The average time it may take to sell a El Cerrito, California restaurant is six months. Within those 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 Cerrito, California restaurant.

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

This could aid you in deriving the probable worth of your El Cerrito, California restaurant. If you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

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

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

Clean windows, polished handles and a neat floor are also small items that would help create a unforgettable initial impression.

Additionally, you should ensure all your equipment is in satisfactory condition. If your equipment is not working properly, it could send the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial status and output capabilities. It may even lower the excitment of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for El Cerrito Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced El Cerrito, California restaurant broker to help. The professional El Cerrito, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you decide to take on this project alone, you will need to carry out appropriate advertising. You can show your El Cerrito, California restaurant on listing websites and tell family and friends about your plans to sell your El Cerrito, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your El Cerrito, California Restaurant

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

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

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

Choosing a El Cerrito, California Restaurant Broker

Although trying to sell your El Cerrito, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

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

Expertise is also vital during negotiations with prospective buyers. This is where an experienced El Cerrito, California restaurant broker is recommended. A El Cerrito, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your El Cerrito, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a El Cerrito, California Restaurant Broker

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

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

El Cerrito Zip Codes We Support: 94530