Decided to Sell Your Glendora, California Restaurant?

After years of hard work, you have made the decision sell your Glendora, California restaurant

Contemplating starting a different Glendora, California restaurant, moving, or maybe retiring. No matter the reason, selling your Glendora, California restaurant can be a lot more difficult than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the time you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either think to contract with a eatery broker to assist you in selling your Glendora, California restaurant or take on the task on your own. Whether considering selling your Glendora, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Business Paperwork

This is an important preparatory step to make when you start the process of marketing your Glendora, California restaurant.

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

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

Corbett Restaurant Group comes with expertise to help you in the market for sale of your Glendora, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show the majority of these documents to a possible buyer first day. But, you should have them on hand because you will eventually need them during the sales process.

Also, compiling these documents lets you see your Glendora, California restaurant through the lens of a buyer. This gives you a clear image of the Glendora, California restaurant you're offering for sale. Furthermore, it allows you to show if there are any concerns you'll need to address.

#2 Put Your Financial Documents in Order

Your financial records are an important aspect of selling your Glendora, California restaurant. This is why you should make it a priority to make these documents accurate and well organized.

Showing your financial documents to possible buyers could assist to clear any hesitations they might have concerning your Glendora, California restaurant.

These financial records may include:

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

Also, ensure you have hard copies of all of the records. This can make it easier for you to send the information to potential buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items may create legal problems for you if a buyer later on discovers these liabilities post closing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Glendora, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Appraise 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 Glendora, California restaurant.

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

The average time it may take to sell a Glendora, California restaurant is 6 months. Within those six months, there are several things you can do to strengthen your profit and reduce several costs, and thus strengthen the value of your Glendora, California restaurant.

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

This will help you in estimating the probable value of your Glendora, California restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Make Your Restaurant Look Good

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

To prevent this from happening, all things in and out of your Glendora, California restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also easy things that can help create a unforgettable first impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not working properly, it might convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial capabilities and production abilities. It can even lower the mood of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Glendora Buyers

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

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

#8 Be Ready

Regardless if you decide to sell your Glendora, California restaurant yourself, or with a a Glendora, California restaurant broker, you need to always be prepared. Be ready to show your Glendora, California restaurant to potential buyers at all times.

You'll never know when a buyer could visit your Glendora, California restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Glendora, California Restaurant

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

You should have your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Glendora, California Restaurant Broker

Although trying to sell your Glendora, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first time sellers.

It's true, if you're looking to achieve the most out of the business deal, you need some level of experience to stand above and against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Glendora, California restaurant broker comes in. A Glendora, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Glendora, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Glendora, California Restaurant Broker

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

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

Glendora Zip Codes We Support: 91702, 91740, 91741