Decided to Sell Your Fallbrook, California Restaurant?

Following years of sweat equity, you have decided to sell your Fallbrook, California restaurant

Considering opening a new eatery, moving, or even retiring. Regardless of the reason, selling your Fallbrook, California restaurant can be way more challenging than you might think. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough profit for all the labor you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either think to hire a Fallbrook, California restaurant broker to guide you in selling your Fallbrook, California restaurant or take on the task yourself. Whether considering selling your Fallbrook, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together any Important Paperwork

This is an important first step to make when you commence the process of marketing your Fallbrook, California restaurant.

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

• A list of your assets
• Lease contract
• 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 has the expertise to assist you in the market for sale of your Fallbrook, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to reveal all these documents to a prospective buyer day one. But, you should have them at hand because you will certainly need them during the sales process.

Also, compiling these documents lets you see your Fallbrook, California restaurant through the lens of a buyer. This gives you a clear image of the Fallbrook, California restaurant you are offering for sale. In addition, it helps you identify whether there are any areas you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial aspect of selling your Fallbrook, California restaurant. This is why you should make it a priority to have these documents complete and well organized.

Offering your financial documents to possible buyers may assist to clear any hesitations they might have concerning your Fallbrook, California restaurant.

Your financial records can include:

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

Also, make sure you have duplicate copies of all of the records. This may make it easier for you to transmit the records to potential buyers.

Also, as the seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items may create legal problems for you if a buyer later discovers these ommissions after closing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Fallbrook, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Fallbrook, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

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

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Fallbrook, California restaurant.

The average time it may take to sell a Fallbrook, California restaurant is 6 months. Within the six months, there is a lot you can do in order to strengthen your profit and cut various costs, and thus increase the value of your Fallbrook, California restaurant.

In addition, 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 will help you in deriving the overall worth of your Fallbrook, California restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Fallbrook, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the overall look of your Fallbrook, California restaurant does not look good to buyers, they likely take a pass without consideration.

To prevent this from happening, all things in and out of your Fallbrook, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot can help create curb appeal for prospective buyers.

Spot-free windows, polished handles and a clean floor are other simple things that could help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial status and production capabilities. It may even lower the morale of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Fallbrook Buyers

Looking for potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Fallbrook, California restaurant broker to help. A professional Fallbrook, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this task alone, you will need to create proper advertising. You can offer your Fallbrook, California restaurant on listing websites and tell family and friends about your plans to market for sale your Fallbrook, California restaurant.

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

#8 Be Ready

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

You never know when a buyer could walk into your Fallbrook, California restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Fallbrook, California Restaurant

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

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

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

Choosing a Fallbrook, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business transaction, you need some level of expertise to stand above and against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Fallbrook, California restaurant broker comes in. A Fallbrook, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Fallbrook, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Fallbrook, California Restaurant Broker

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

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

Fallbrook Zip Codes We Support: 92028, 92088