Time to Sell Your Hayward, California Restaurant?

Following years of labor, you have decided to sell your Hayward, California restaurant

Contemplating opening a new Hayward, California restaurant, relocating, or even slowing down. Regardless of the reason, selling your Hayward, California restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you may have put into it.

Important Actions to Take when Selling Your Restaurant

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

#1 Put Together the Necessary Documentation

This is a necessary initial step to take when you commence the process of offering your Hayward, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of a few standard documents you may find helpful to have ready:

• Gather 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 Hayward, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to reveal all these documents to a possible buyer first day. But, you may want to have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents lets you view your Hayward, California restaurant through the lens of a buyer. This provides you a clear picture of the Hayward, California restaurant you are selling. In addition, it helps you identify whether there are any concerns you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial part of selling your Hayward, California restaurant. That’s the reason you should strive to have your documents accurate and well organized.

Showing your financial records to potential buyers may help clear any doubt they might have regarding your Hayward, California restaurant.

Your financial records may 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 these documents. This could make it easier for you to transmit the information to prospective buyers.

Also, as a seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Hayward, 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 sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the true value of your Hayward, 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 planning to sell your Hayward, California restaurant.

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

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will aid you in estimating the overall worth of your Hayward, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Hayward, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall appearance of your Hayward, California restaurant does not look good to buyers, they might take a pass without a second look.

To prevent this from happening, everything in and out of your Hayward, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create curb appeal for prospective buyers.

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

Non-functional equipment may rouse doubt about your financial situation and output abilities. It can 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 Hayward, California restaurant.

#7 look for Hayward Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Hayward, California restaurant broker to help. A professional Hayward, California restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this project yourself, you will need to create appropriate advertising. You can show your Hayward, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Hayward, California restaurant.

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

#8 Be Prepared

Whether you decide to sell your Hayward, California restaurant yourself, or through a Hayward, California restaurant broker, you need to always be prepared. Be ready to show your Hayward, California restaurant to potential buyers at all times.

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

#9 Sell Your Hayward, California Restaurant

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

You should have your attorney’s help in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the deal.

This agreement includes details such as the selling price of your Hayward, California restaurant, assets and equipment and inventory value.

Choosing a Hayward, California Restaurant Broker

While trying to sell your Hayward, California restaurant on your own can be an exhilarating 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 a higher level of experience in order to stand above and against your competition while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Hayward, California restaurant broker is needed. A Hayward, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Hayward, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Hayward, California Restaurant Broker

Choosing to sell your Hayward, California restaurant through a Hayward, California restaurant broker has multiple advantages. First, however, you need to select the best Hayward, California restaurant broker to assist you in selling your Hayward, California restaurant.

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

Hayward Zip Codes We Support: 94540, 94541, 94542, 94543, 94544, 94545, 94546, 94552, 94557, 94580, 94586, 94587, 94588