Decided to Sell Your Folsom, California Restaurant?

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

Considering starting a different eatery, moving, or even retiring. No matter the reason, selling a Folsom, California restaurant can be a lot more difficult than you might realize. Thats because it takes careful preparation and a solid game plan 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 can either think to contract with a Folsom, California restaurant broker to help you in selling your Folsom, California restaurant or take on the task on your own. If you are considering selling your Folsom, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Important Paperwork

This is a necessary initial step to take when you begin the process of selling your Folsom, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of a few general documents you may be requierd 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 expertise to help you in the market for sale of your Folsom, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a possible buyer day one. But, you should have them on hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to see your Folsom, California restaurant through the lens of a buyer. This provides you a clear image of the Folsom, California restaurant you are selling. Furthermore, it helps you show whether there are any concerns you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are an important part of selling your Folsom, California restaurant. That’s why you should strive to have your documents complete and well organized.

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

The financial records can include:

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

Also, ensure you have duplicate copies of all of these records. This will make it easier for you to transmit the documentation to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things could create legal problems for you if a buyer later on discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Folsom, California restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

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 Folsom, California restaurant.

This will be in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow planning to sell your Folsom, California restaurant.

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

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

This may assist you in estimating the probable worth of your Folsom, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

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

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

Spot-free windows, polished handles and a clean floor are also easy things that would help create a great initial impression.

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

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

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

#7 look for Folsom Buyers

Looking for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Folsom, California restaurant broker to help. The professional Folsom, California restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to take on this task yourself, you will need to carry out proper advertising. You can market your Folsom, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Folsom, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Folsom, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the deal. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Folsom, California Restaurant Broker

Although trying to sell your Folsom, California restaurant on your own can be an exhilarating project, it could 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 experience to stand above and against the cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Folsom, California restaurant broker comes in. A Folsom, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Folsom, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Folsom, California Restaurant Broker

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

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

Folsom Zip Codes We Support: 95630, 95671, 95742, 95763