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Considering opening a different eatery, moving, or maybe retiring. Regardless of the reason, selling a Fontana, California restaurant can be way more challenging than you may realize. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the time you may have put into it.
You may either make the decision to hire a Fontana, California restaurant broker to help you in selling your Fontana, California restaurant or do the task yourself. Whether considering selling your Fontana, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.
This is a necessary initial step to take when you begin the process of offering your Fontana, California restaurant.
The required documents may vary from state to state--even in California, but below is a list of some general documents you may be requierd to have prepared:
Corbett Restaurant Group comes with expertise to assist you in the market for sale of your Fontana, California restaurant. Call today for a no-obligation business review at (888) 266-5182.
You probably do not want to show the majority of these documents to a possible buyer first day. However, you may want to have them ready because you will eventually need them during the sales process.
In addition, putting together these documents lets you see your Fontana, California restaurant through the lens of a buyer. It provides you a clear picture of the Fontana, California restaurant you are offering for sale. Furthermore, it allows you to identify whether there are any areas you will need to address.
Your financial records are an important part of selling your Fontana, California restaurant. That’s why you should strive to make these documents complete and organized.
Offering your financial documents to prospective buyers may assist to clear any hesitations they might have concerning your Fontana, California restaurant.
Your financial documents could include:
In addition, ensure you have duplicate copies of all of these documents. This will make it easier for you to transmit the records to prospective buyers.
Also, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later discovers these ommissions post completing the deal.
In the process of preparing to sell your Fontana, California restaurant, you need to review 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 could be advisable to talk to your landlord concerning your plan to sell your Fontana, California restaurant and to possibly extend your lease.
Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the true value of your Fontana, California restaurant.
This will be in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow before trying to sell your Fontana, California restaurant.
The estimated time it may take to sell a Fontana, California restaurant is six months. Within the six months, there is a lot you can do to increase your profit and cut several costs, and thus strengthen the worth of your Fontana, California restaurant.
Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.
This will aid you in deriving the overall value of your Fontana, California restaurant. If you understand the overall worth this could help you determine a selling price.
The first impression of your Fontana, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the general aesthetic of your Fontana, California restaurant does not appeal to buyers, they might take a pass without a second look.
To prevent this from happening, everything in and out of your Fontana, California restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for potential buyers.
Spot-free windows, polished door handles and a clean floor are also simple things that would help create a unforgettable first impression.
Additionally, you should make sure all your equipment is in top condition. If your equipment is not working properly, it can send the message that you're hurried to pass a bad deal to the buyer.
Faulty equipment also raises doubt about your financial capabilities and output capabilities. It could even lower the mood of your employees, and in turn, negatively affect your output and effect your profit and loss statement.
You should appear credible in order to build the confidence of potential buyers regarding purchasing your Fontana, California restaurant.
Searching for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Fontana, California restaurant broker to help. The professional Fontana, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this task yourself, you will need to create proper advertising. You can offer your Fontana, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Fontana, California restaurant.
As you will likely come across competition when trying to sell your Fontana, California restaurant, you need your restaurant to stand out.
Regardless if you decide to sell your Fontana, California restaurant yourself, or through a Fontana, California restaurant broker, you need to always be prepared. Be prepared to show your Fontana, California restaurant to prospective buyers at all times.
You never know when a buyer will visit your Fontana, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.
This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the contract. The paperwork often begin with the Asset Purchase Agreement.
You should have your attorney’s help in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the contract.
This agreement includes details including the selling price of your Fontana, California restaurant, items and equipment as well as inventory value.
While trying to sell your Fontana, California restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first-timers.
It's true, in order for you to achieve the most from of the business transaction, you need some level of experience to stand out against the cometitors while attempting to attract buyers.
Expertise is also vital during negotiations with prospective buyers. This is when an experienced Fontana, California restaurant broker comes in. A Fontana, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Fontana, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.
With the help of a Fontana, California restaurant broker, you can focus your undivided attention on operating your Fontana, California restaurant and rest easy with the knowledge that a professional is in charge of selling your Fontana, California restaurant.
Deciding to sell your Fontana, California restaurant through a Fontana, California restaurant broker has several advantages. First, however, you need to select the best Fontana, California restaurant broker to help you in selling your Fontana, California restaurant.
At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Fontana, California restaurant. And, we work harder than any other Fontana 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 Fontana, California restaurant for a great price.
Fontana Zip Codes We Support: 92316, 92331, 92334, 92335, 92336, 92337, 92377, 92402
We've been in business for over 15 years and its because of the hard work and loyalty of our Brokers and staff. When you partner with us, you'll receive the absolutely best service the industry has to offer.