Time to Sell Your Escondido, California Restaurant?

After years of hard work, you have decided to sell your Escondido, California restaurant

Considering starting a different eatery, moving, or maybe slowing down. No matter the reason, selling your Escondido, California restaurant can be way more challenging than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the time you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

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

#1 Put Together the Business Documentation

This is an important preparatory step to take when you commence the process of selling your Escondido, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of some general 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 documentation
• Architectural plans
• Financial statements and other important financial documents

Corbett Restaurant Group has the expertise to help you in the sale of your Escondido, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a potrntial buyer first day. However, you may want to have them on hand because you will eventually need them during the sales process.

Also, putting together these documents lets you see your Escondido, California restaurant through the lens of a buyer. It gives you a clear picture of the Escondido, California restaurant you're offering for sale. In addition, it helps you identify if there are any concerns you will have to address.

#2 Put Your Financials in Order

Your financial records are a crucial aspect of selling your Escondido, California restaurant. This is the reason you should make an effort to make your documents accurate and organized.

Offering your financial records to potential buyers may help clear any hesitations they might have concerning your Escondido, California restaurant.

The financial documents could include:

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

Also, ensure you have soft copies of all of the records. This could make it easier for you to send the documentation to prospective buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things can create legal issues for you if a buyer later discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Escondido, California restaurant, you must find out the terms 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 is advisable to talk to your landlord concerning your plan to sell your Escondido, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this will help them estimate the true value of your Escondido, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow starting to sell your Escondido, California restaurant.

The estimated time it takes to sell a Escondido, California restaurant is six months. Within those six months, there are many things you can do in order to increase your profit and cut several costs, and therefore strengthen the worth of your Escondido, California restaurant.

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

This may aid you in coming up with the overall value of your Escondido, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Escondido, California restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the general aesthetic of your Escondido, California restaurant does not appeal to buyers, they might take a pass without a second look.

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

Clean windows, polished door handles and a neat floor are also easy things that can help create a great initial impression.

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

Non-functional equipment can raise doubt about your financial situation and output abilities. It can even lower the morale of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Escondido Buyers

Searching for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Escondido, California restaurant broker to help. A professional Escondido, California restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this task alone, you will need to create appropriate advertising. You can list your Escondido, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Escondido, California restaurant.

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

#8 Be Ready

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

You never know when a buyer will walk into your Escondido, California restaurant. Some buyers may even visit as customers in order to perform some research before contacting you.

#9 Sell Your Escondido, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The documentation will likely begin with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

This document includes details including the selling price of your Escondido, California restaurant, items and equipment and inventory value.

Choosing a Escondido, California Restaurant Broker

While trying to sell your Escondido, California restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business transaction, you need some level of expertise 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 Escondido, California restaurant broker is needed. A Escondido, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Escondido, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Escondido, California Restaurant Broker

Choosing to sell your Escondido, California restaurant through a Escondido, California restaurant broker has several advantages. First, however, you need to select the best Escondido, California restaurant broker to assist you in selling your Escondido, California restaurant.

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

Escondido Zip Codes We Support: 92025, 92026, 92027, 92029, 92030, 92033, 92046, 92082