Time to Sell Your Fresno, California Restaurant?

Following years of hard work, you have made the decision sell your Fresno, California restaurant

Contemplating opening a new eatery, relocating, or maybe slowing down. Regardless of the reason, selling a Fresno, California restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough proceeds for all the time you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either make the decision to hire a Fresno, California restaurant broker to assist you in selling your Fresno, California restaurant or do the task on your own. If you are considering selling your Fresno, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Important Documentation

This is a necessary first step to take when you start the process of marketing your Fresno, California restaurant.

The necessary documents 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 at hand:

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

Corbett Restaurant Group comes with expertise to assist you in the sale of your Fresno, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show all these documents to a prospective buyer right away. But, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents allows you to view your Fresno, California restaurant through the lens of a buyer. It provides you a clear image of the Fresno, California restaurant you are offering for sale. Furthermore, it allows you to show whether there are any loopholes you'll need to address.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Fresno, California restaurant. This is the reason you should make an effort to make these documents accurate and organized.

Offering your financial documents to possible buyers may help clear any doubt they may have concerning your Fresno, California restaurant.

The financial documents may include:

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

Also, make sure you have soft copies of all of the documents. This can make it easier for you to transmit the documentation to potential buyers.

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

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Fresno, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of the Fresno, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow before trying to sell your Fresno, California restaurant.

The estimated time it may take to sell a Fresno, California restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and slash several costs, and thus strengthen the worth of your Fresno, California restaurant.

Also, with regards 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 coming up with the probable value of your Fresno, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Fresno, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the general curb appeal of your Fresno, California restaurant does not look good to buyers, they might take a pass without a second look.

To avoid this from happening, all things in and out of your Fresno, California restaurant must be clean. Manicured and a clean parking lot can help create curb appeal for potential buyers.

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

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

Faulty equipment may rouse doubt about your financial situation and production capabilities. It can even lower the excitment of your staff, and in response, 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 Fresno, California restaurant.

#7 look for Fresno Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Fresno, California restaurant broker to help. The professional Fresno, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to carry out proper advertising. You can market your Fresno, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Fresno, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Fresno, California restaurant yourself, or with a a Fresno, California restaurant broker, you should always be ready. Be ready to show your Fresno, California restaurant to prospective buyers at all times.

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

#9 Sell Your Fresno, California Restaurant

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

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Fresno, California Restaurant Broker

While trying to sell your Fresno, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most out of the business transaction, you need some level of expertise to stand above and against the cometitors while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Fresno, California restaurant broker is recommended. A Fresno, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Fresno, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Fresno, California Restaurant Broker

Deciding to sell your Fresno, California restaurant through a Fresno, California restaurant broker has multiple advantages. First, however, you need to select the best Fresno, California restaurant broker to help you in selling your Fresno, California restaurant.

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

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