Right Time to Sell Your Fairfield, California Restaurant?

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

Contemplating starting a new Fairfield, California restaurant, relocating, or maybe slowing down. Regardless of the reason, selling your Fairfield, California restaurant can be way more challenging than you might think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough proceeds for all the labor you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You may either think to contract with a Fairfield, California restaurant broker to guide you in selling your Fairfield, California restaurant or take on the task yourself. If you are considering selling your Fairfield, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together the Necessary Paperwork

This is an important first step to take when you begin the process of selling your Fairfield, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of a few standard documents you may find helpful to have on you:

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

Corbett Restaurant Group comes with experience to help you in the sale of your Fairfield, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to reveal all these documents to a prospective buyer first day. 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 see your Fairfield, California restaurant through the lens of a buyer. It provides you a clear image of the Fairfield, California restaurant you're selling. Furthermore, it allows you to show whether there are any areas you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your Fairfield, California restaurant. That’s why you should make an effort to make your documents accurate and well organized.

Offering your financial records to prospective buyers may aid clear any hesitations they may have regarding your Fairfield, 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 soft copies of all of these records. This may make it easier for you to transmit the information to potential buyers.

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

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Fairfield, 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 may advisable to have a discussion with your landlord regarding your plan to sell your Fairfield, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the value of your Fairfield, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow planning to sell your Fairfield, California restaurant.

The average time it may take to sell a Fairfield, California restaurant is 6 months. Within the six months, there are many things you can do in order to strengthen your profit and cut several costs, and therefore increase the value of your Fairfield, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will aid you in coming up with the probable value of your Fairfield, California restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Fairfield, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Fairfield, California restaurant does not appeal to buyers, they might take a pass immediately.

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

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

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

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

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

#7 Search for Fairfield Buyers

Searching for prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Fairfield, California restaurant broker to help. The professional Fairfield, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this project yourself, you will need to create proper advertising. You can list your Fairfield, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Fairfield, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Fairfield, California restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Fairfield, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The paperwork often start with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Fairfield, California Restaurant Broker

Although attempting to sell your Fairfield, California restaurant on your own can be an exhilarating project, it can also be very risky, especially for first-timers.

The fact remains, in order for you to get the most out of the business deal, you need a higher level of expertise in order to stand out against your competition while trying to attract buyers.

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

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

Contact a Fairfield, California Restaurant Broker

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

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

Fairfield Zip Codes We Support: 94533, 94534, 94535, 94585, 94591, 95687