Are You Ready to Sell Your Hawthorne, California Restaurant?

After years of labor, you have decided to sell your Hawthorne, California restaurant

Contemplating starting a new Hawthorne, California restaurant, moving, or even retiring. Regardless of the reason, selling your Hawthorne, California restaurant can be a lot more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either decide to contract with a Hawthorne, California restaurant broker to help you in selling your Hawthorne, California restaurant or do the task on your own. If you are considering selling your Hawthorne, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Business Documentation

This is an important preparatory step to make when you begin the process of selling your Hawthorne, 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 need to have prepared:

• A list of your assets
• Lease contract
• 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 experience to assist you in the sale of your Hawthorne, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to show all these documents to a prospective buyer right away. However, you may want to have them ready because you will certainly need them during the sales process.

In addition, putting together these documents lets you view your Hawthorne, California restaurant through the lens of a buyer. This provides you a clear picture of the Hawthorne, California restaurant you're selling. Furthermore, it helps you identify whether there are any areas you will have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are an important part of selling your Hawthorne, California restaurant. That’s why you should make it a priority to make these documents accurate and well organized.

Showing your financial records to possible buyers may assist to clear any hesitations they might have concerning your Hawthorne, California restaurant.

Your financial documents could include:

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

In addition, ensure you have hard copies of all of the records. This will make it easier for you to send the documentation to possible buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things can create legal issues for you if a buyer later on discovers these liabilities after signing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Hawthorne, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

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 your Hawthorne, California restaurant.

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

The estimated time it takes to sell a Hawthorne, California restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and reduce several costs, and thus increase the value of your Hawthorne, 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 could help you in coming up with the overall value of your Hawthorne, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Hawthorne, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the general look of your Hawthorne, California restaurant does not look good to buyers, they could take a pass right off the bat.

To avoid this from happening, everything in and out of your Hawthorne, California restaurant must be clean. Landscaping and a clean parking area can help create curb appeal for potential buyers.

Clean windows, polished handles and a neat floor are also small things that could 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 could convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial capabilities and output capabilities. It could even dampen the mood of your staff, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Hawthorne, California restaurant.

#7 Search for Hawthorne Buyers

Marketing to prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Hawthorne, California restaurant broker to help. The professional Hawthorne, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this project by yourself, you will need to create proper advertising. You can show your Hawthorne, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Hawthorne, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Hawthorne, California restaurant. Some buyers might even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your Hawthorne, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the transaction. The paperwork often start 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 Hawthorne, California restaurant, assets and equipment and inventory value.

Choosing a Hawthorne, California Restaurant Broker

While attempting to sell your Hawthorne, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to achieve the most from of the business deal, you need a higher level of expertise to stand out against your cometitors while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Hawthorne, California restaurant broker is needed. A Hawthorne, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Hawthorne, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Hawthorne, California Restaurant Broker

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

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

Hawthorne Zip Codes We Support: 90250, 90251, 90260, 90303, 90304, 90310