Right Time to Sell Your Glen Avon, California Restaurant?

After years of labor, you have made the decision sell your Glen Avon, California restaurant

Contemplating starting a different Glen Avon, California restaurant, moving, or maybe retiring. Regardless of the reason, selling a Glen Avon, California restaurant can be way more challenging than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the sweat you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either decide to contract with a eatery broker to guide you in selling your Glen Avon, California restaurant or take on the task on your own. Whether considering selling your Glen Avon, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Business Paperwork

This is a necessary initial step to make when you start the process of offering your Glen Avon, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of some standard documents you may be requierd to have on you:

• Gather 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 experience to help you in the market for sale of your Glen Avon, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show all these documents to a potrntial buyer right away. However, you should have them on hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to view your Glen Avon, California restaurant through the lens of a buyer. It gives you a clear picture of the Glen Avon, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any loopholes you'll need to address.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Glen Avon, California restaurant. That’s the reason you should make an effort to have these documents complete and well organized.

Offering your financial documents to prospective buyers could aid clear any doubt they might have concerning your Glen Avon, California restaurant.

Your 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 these records. This could make it easier for you to transmit the information to possible buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later on discovers these liabilities post completing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Glen Avon, California restaurant, you need to understand 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 regarding your plan to sell your Glen Avon, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

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

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow starting to sell your Glen Avon, California restaurant.

The estimated time it may take to sell a Glen Avon, California restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and slash several costs, and therefore increase the value of your Glen Avon, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may aid you in deriving the overall value of your Glen Avon, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Glen Avon, California restaurant can go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Glen Avon, California restaurant does not appeal to buyers, they likely pass over immediately.

To avoid this from happening, everything in and out of your Glen Avon, California restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished handles and a presentable floor are other small things that would help create a memorable first impression.

Additionally, you should ensure that all your 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.

Faulty equipment may rouse doubt about your financial status and output capabilities. It may even lower the mood of your staff, 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 Glen Avon, California restaurant.

#7 Search for Glen Avon Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Glen Avon, California restaurant broker to help. The professional Glen Avon, 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 project alone, you will need to create proper advertising. You can show your Glen Avon, California restaurant on business websites and tell family and friends about your plans to sell your Glen Avon, California restaurant.

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

#8 Be Prepared

If you decide to sell your Glen Avon, California restaurant yourself, or through a Glen Avon, California restaurant broker, you should always be ready. Be ready to show your Glen Avon, California restaurant to prospective buyers at all times.

You will never know when a buyer will visit your Glen Avon, California restaurant. Some buyers may even visit as customers just to carry out some research before contacting you.

#9 Sell Your Glen Avon, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the deal. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Glen Avon, California Restaurant Broker

While attempting to sell your Glen Avon, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first time sellers.

It's true, in order for you to get the most from of the business deal, you need a higher level of expertise in order to stand above and against the cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Glen Avon, California restaurant broker is needed. A Glen Avon, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Glen Avon, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Glen Avon, California Restaurant Broker

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

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

Glen Avon Zip Codes We Support: 92509