Right Time to Sell Your Elk Grove, California Restaurant?

Following years of sweat equity, you have made the decision sell your Elk Grove, California restaurant

Contemplating starting a different Elk Grove, California restaurant, moving, or maybe retiring. No matter the reason, selling your Elk Grove, California restaurant can be a lot more complicated than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You may either decide to hire a eatery broker to help you in selling your Elk Grove, California restaurant or do the task on your own. Whether considering selling your Elk Grove, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Put Together any Important Paperwork

This is an important preparatory step to take when you commence the process of marketing your Elk Grove, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of a few generalized documents you may be requierd to have ready:

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Elk Grove, 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 prospective buyer first day. But, you should have them on hand because you will certainly need them during the sales process.

Also, compiling these documents lets you see your Elk Grove, California restaurant through the lens of a buyer. It gives you a clear picture of the Elk Grove, California restaurant you are selling. Furthermore, it allows you to show whether there are any concerns you'll have to address.

#2 Put Your Financials in Order

Your financial documents are an important part of selling your Elk Grove, California restaurant. This is the reason you should make an effort to have your documents accurate and well organized.

Offering your financial records to possible buyers may help clear any hesitations they may have concerning your Elk Grove, California restaurant.

These financial records can 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 records. This may make it easier for you to send the documentation to possible buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these liabilities post completing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Elk Grove, California restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Elk Grove, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the true value of your Elk Grove, 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 Elk Grove, California restaurant.

The average time it takes to sell a Elk Grove, California restaurant is six months. Within the six months, there is a lot you can do to strengthen your profit and cut various costs, and therefore increase the worth of your Elk Grove, California restaurant.

Also, with regards 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 worth of your Elk Grove, California restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Elk Grove, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall look of your Elk Grove, California restaurant does not appeal to buyers, they might pass over right off the bat.

To avoid this from happening, all things in and out of your Elk Grove, California restaurant must be clean. Landscaping and a clean parking lot may help create appeal for prospective buyers.

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

Additionally, you should make sure that all the equipment is in top condition. If your equipment is not working properly, it may 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 production abilities. It can even lower the mood of your staff, 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 Elk Grove, California restaurant.

#7 Search for Elk Grove Buyers

Marketing to prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Elk Grove, California restaurant broker to help. The professional Elk Grove, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to handle this task yourself, you will need to carry out proper advertising. You can offer your Elk Grove, California restaurant on business websites and let your family and friends know about your plans to market for sale your Elk Grove, California restaurant.

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

#8 Be Ready

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

You never know when a buyer will walk into your Elk Grove, California restaurant. Some buyers may even come in as customers just to carry out some research before contacting you.

#9 Sell Your Elk Grove, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the contract. The paperwork often start with the Asset Purchase Agreement.

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

This document includes details including the selling price of your Elk Grove, California restaurant, assets and equipment and inventory value.

Choosing a Elk Grove, California Restaurant Broker

While trying to sell your Elk Grove, California restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

It's true, in order for you to get the most out of the business deal, you need a higher level of experience to stand above and against your cometitors while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Elk Grove, California restaurant broker comes in. A Elk Grove, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Elk Grove, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Elk Grove, California Restaurant Broker

Deciding to sell your Elk Grove, California restaurant through a Elk Grove, California restaurant broker has multiple advantages. First, however, you need to select the best Elk Grove, California restaurant broker to help you in selling your Elk Grove, California restaurant.

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

Elk Grove Zip Codes We Support: 95624, 95757, 95758, 95759, 95829, 95830