Are You Ready to Sell Your El Monte, California Restaurant?

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

Contemplating opening a new eatery, relocating, or even retiring. Regardless of the reason, selling your El Monte, California restaurant can be way more complicated than you might think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough money for all the labor you may have put into it.

Important Actions to Take when Selling Your Restaurant

You may either make the decision to contract with a eatery broker to guide you in selling your El Monte, California restaurant or do the task on your own. If you are considering selling your El Monte, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together any Business Documentation

This is an important first step to make when you begin the process of selling your El Monte, California restaurant.

The required paperwork 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 on you:

• A list of your assets
• Lease contract
• 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 market for sale of your El Monte, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal all these documents to a potrntial buyer day one. But, you should have them ready because you will eventually require them during the sales process.

In addition, putting together these documents lets you view your El Monte, California restaurant through the lens of a buyer. This gives you a clear image of the El Monte, California restaurant you are selling. In addition, it allows you to show whether there are any areas you'll have to address.

#2 Get Your Financial Documents in Order

Your financial documents are an important detail of selling your El Monte, California restaurant. That’s the reason you should make it a priority to have your documents complete and well organized.

Showing your financial records to possible buyers may assist to clear any hesitations they may have regarding your El Monte, California restaurant.

Your financial documents could include:

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

In addition, make sure you have hard copies of all of the documents. This could make it easier for you to transmit the information to prospective buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these items can create legal problems for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your El Monte, California restaurant, you need to review of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your El Monte, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this helps them evaluate the true value of your El Monte, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow starting to sell your El Monte, California restaurant.

The average time it takes to sell a El Monte, California restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and cut several costs, and thus increase the value of your El Monte, California restaurant.

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

This will assist you in coming up with the probable value of your El Monte, California restaurant. If you understand the overall value this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your El Monte, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall appearance of your El Monte, California restaurant does not appeal to buyers, they could pass over right off the bat.

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

Spot-free windows, polished door handles and a presentable floor are other simple items that can help create a memorable initial impression.

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

Non-functional equipment can raise doubt about your financial situation and output abilities. It could even dampen the excitment of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for El Monte Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional El Monte, California restaurant broker to help. The professional El Monte, California restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you decide to handle this task by yourself, you will need to create proper advertising. You can list your El Monte, California restaurant on listing websites and let your family and friends know about your intentions to sell your El Monte, California restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could walk into your El Monte, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your El Monte, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the transaction. The paperwork will likely start with the Asset Purchase Agreement.

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

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

Choosing a El Monte, California Restaurant Broker

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

The fact remains, if you're looking to get the most out of the business transaction, you need some level of experience to stand out against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced El Monte, California restaurant broker comes in. A El Monte, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your El Monte, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a El Monte, California Restaurant Broker

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

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

El Monte Zip Codes We Support: 91731, 91732, 91733, 91734, 91735, 91780