Ready to Sell Your Eureka, California Restaurant?

Following years of labor, you have decided to sell your Eureka, California restaurant

Considering starting a new Eureka, California restaurant, relocating, or maybe retiring. No matter the reason, selling a Eureka, California restaurant can be way more difficult than you might realize. Thats because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either decide to contract with a eatery broker to assist you in selling your Eureka, California restaurant or take on the task on your own. Whether considering selling your Eureka, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together all Business Documentation

This is a necessary first step to take when you start the process of offering your Eureka, California restaurant.

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

• A list of your assets
• Lease documentation
• 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 has the experience to assist you in the market for sale of your Eureka, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to show the majority of these documents to a prospective buyer right away. But, you should have them ready because you will certainly need them during the sales process.

In addition, putting together these documents allows you to view your Eureka, California restaurant through the lens of a buyer. It provides you a clear image of the Eureka, California restaurant you are offering for sale. Furthermore, it allows you to show whether there are any areas you'll have to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial part of selling your Eureka, California restaurant. That’s the reason you should strive to make your documents accurate and well organized.

Offering your financial records to potential buyers could help clear any hesitations they may have regarding your Eureka, California restaurant.

These financial documents may include:

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

In addition, ensure you have hard copies of all of these records. This may make it easier for you to send the information to possible buyers.

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

#3 Organize the Details of Your Commercial Lease

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

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Eureka, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the value of the Eureka, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow starting to sell your Eureka, California restaurant.

The estimated time it takes to sell a Eureka, California restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and slash several costs, and thus strengthen the value of your Eureka, 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 estimate your assets.

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

#5 Make Your Restaurant Attractive

The appearance of your Eureka, California restaurant can go a long way in helping you bring potential buyers. Conversely, if the general appearance of your Eureka, California restaurant does not appeal to buyers, they could pass over without a second look.

To prevent this from happening, all things in and out of your Eureka, California restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also small items that can help create a memorable first impression.

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

Non-functional equipment may rouse doubt about your financial situation and production abilities. It can 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 prospective buyers regarding purchasing your Eureka, California restaurant.

#7 look for Eureka Buyers

Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Eureka, California restaurant broker to help. A professional Eureka, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out proper advertising. You can offer your Eureka, California restaurant on listing websites and tell family and friends about your plans to market for sale your Eureka, California restaurant.

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

#8 Be Prepared

Whether you decide to sell your Eureka, California restaurant yourself, or through a Eureka, California restaurant broker, you need to always be ready. Be ready to show your Eureka, California restaurant to potential buyers at all times.

You will never know when a buyer could visit your Eureka, California restaurant. Some buyers might even visit as customers just to perform some research before contacting you.

#9 Sell Your Eureka, California Restaurant

This is the last action to take after 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 may need your attorney’s help 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 including the selling price of your Eureka, California restaurant, assets and equipment as well as inventory value.

Choosing a Eureka, California Restaurant Broker

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

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

Expertise is also vital during negotiations with potential buyers. This is when an experienced Eureka, California restaurant broker is recommended. A Eureka, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Eureka, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Eureka, California Restaurant Broker

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

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

Eureka Zip Codes We Support: 95501, 95503, 95521, 95524, 95534, 95564