Time to Sell Your Fair Oaks, California Restaurant?

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

Considering starting a different eatery, relocating, or maybe retiring. No matter the reason, selling a Fair Oaks, California restaurant can be way more challenging than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either make the decision to hire a eatery broker to assist you in selling your Fair Oaks, California restaurant or do the task yourself. Whether considering selling your Fair Oaks, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together all Important Paperwork

This is an important first step to take when you start the process of selling your Fair Oaks, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of a few general documents you may find helpful to have prepared:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Fair Oaks, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to show all these documents to a possible buyer first day. However, you should have them at hand because you will eventually need them during the sales process.

In addition, putting together these documents lets you see your Fair Oaks, California restaurant through the lens of a buyer. This provides you a clear picture of the Fair Oaks, California restaurant you are offering for sale. In addition, it allows you to show whether there are any areas you'll need to take care of.

#2 Get Your Financials in Order

Your financial documents are an important part of selling your Fair Oaks, California restaurant. That’s why you should strive to make these documents complete and organized.

Offering your financial documents to potential buyers may assist to clear any doubt they might have regarding your Fair Oaks, California restaurant.

These financial documents may include:

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

Also, make sure you have hard copies of all of these records. This could make it easier for you to transmit the records to prospective buyers.

Likewise, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these items can create legal problems for you if a buyer later discovers these ommissions post completing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Fair Oaks, California restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Fair Oaks, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this helps them estimate the true value of your Fair Oaks, California restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to build up your cash flow planning to sell your Fair Oaks, California restaurant.

The estimated time it may take to sell a Fair Oaks, California restaurant is six months. Within those six months, there are several things you can do in order to increase your profit and cut various costs, and therefore increase the value of your Fair Oaks, 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 value your assets.

This could assist you in estimating the overall worth of your Fair Oaks, California restaurant. If you understand the overall value this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Fair Oaks, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the overall look of your Fair Oaks, California restaurant does not look good to buyers, they might pass over without consideration.

To avoid this from happening, all things in and out of your Fair Oaks, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot could help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also simple things that would help create a unforgettable first impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not functioning, it could convey 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 could even dampen the excitment 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 Fair Oaks, California restaurant.

#7 look for Fair Oaks Buyers

Marketing to potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Fair Oaks, California restaurant broker to help. The professional Fair Oaks, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this task by yourself, you will need to carry out proper advertising. You can list your Fair Oaks, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Fair Oaks, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Fair Oaks, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

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

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

Choosing a Fair Oaks, California Restaurant Broker

Although trying to sell your Fair Oaks, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

It's true, 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 competition while trying to attract buyers.

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

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

Contact a Fair Oaks, California Restaurant Broker

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

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

Fair Oaks Zip Codes We Support: 95628