Are You Ready to Sell Your Encinitas, California Restaurant?

After years of sweat equity, you have decided to sell your Encinitas, California restaurant

Contemplating starting a new eatery, moving, or maybe slowing down. Regardless of the reason, selling a Encinitas, California restaurant can be way more complicated than you may realize. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the sweat you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You may either decide to hire a eatery broker to guide you in selling your Encinitas, California restaurant or do the task on your own. If you are considering selling your Encinitas, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather the Business Paperwork

This is an important preparatory step to make when you start the process of offering your Encinitas, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of a few standard 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 records
• Architectural plan
• Financial statements and other important financial documents

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

It's probably smart not to reveal all these documents to a potrntial buyer right away. However, you should have them on hand because you will eventually require them during the sales process.

Also, compiling these documents lets you view your Encinitas, California restaurant through the lens of a buyer. It provides you a clear image of the Encinitas, California restaurant you are offering for sale. In addition, it helps you identify if there are any loopholes you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Encinitas, California restaurant. This is why you should strive to make your documents complete and well organized.

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

Your financial records can include:

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

Also, ensure you have duplicate copies of all of these records. This could make it easier for you to send the records to possible buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items could create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Encinitas, California restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Encinitas, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the true value of the Encinitas, California restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Encinitas, California restaurant.

The average time it may take to sell a Encinitas, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and reduce various costs, and thus strengthen the worth of your Encinitas, California restaurant.

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

This will aid you in coming up with the probable worth of your Encinitas, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Encinitas, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general aesthetic of your Encinitas, 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 Encinitas, California restaurant must be clean. Landscaping and a clean parking area could help create curb appeal for potential buyers.

Clean windows, polished handles and a neat floor are also simple things that could help create a great initial impression.

Additionally, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working, it could convey the message that you're in a hurry to pass a bad deal to the buyer.

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

You should look credible in order to build the confidence of potential buyers concerning buying your Encinitas, California restaurant.

#7 Search for Encinitas Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Encinitas, California restaurant broker to help. The professional Encinitas, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project by yourself, you will need to create appropriate advertising. You can market your Encinitas, California restaurant on business websites and tell family and friends about your intentions to market for sale your Encinitas, California restaurant.

As you will likely run across competition when trying to sell your Encinitas, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You will never know when a buyer could visit your Encinitas, California restaurant. Some buyers may even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Encinitas, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Encinitas, California Restaurant Broker

While attempting to sell your Encinitas, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

It's true, in order for you to achieve the most from of the business deal, you need a higher level of expertise to stand above and against your competition while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Encinitas, California restaurant broker comes in. A Encinitas, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Encinitas, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Encinitas, California Restaurant Broker

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

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

Encinitas Zip Codes We Support: 92007, 92023, 92024, 92067, 92075