Decided to Sell Your Huntington Beach, California Restaurant?

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

Considering starting a different eatery, moving, or maybe slowing down. No matter the reason, selling your Huntington Beach, California restaurant can be a lot more challenging than you might think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

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

#1 Gather all Business Documentation

This is a necessary first step to make when you commence the process of offering your Huntington Beach, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some standard documents you may find helpful to have on you:

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

Corbett Restaurant Group has the experience to assist you in the sale of your Huntington Beach, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal all these documents to a prospective buyer day one. However, you should have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents allows you to view your Huntington Beach, California restaurant through the lens of a buyer. It gives you a clear picture of the Huntington Beach, California restaurant you're selling. Furthermore, it helps you show if there are any concerns you'll need to address.

#2 Put Your Financials in Order

Your financial records are a crucial aspect of selling your Huntington Beach, California restaurant. This is why you should strive to have these documents accurate and organized.

Offering your financial records to potential buyers could aid clear any doubt they may have concerning your Huntington Beach, California restaurant.

The financial records could include:

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

In addition, make sure you have duplicate copies of all of these records. This could make it easier for you to send the records to possible buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items may create legal problems for you if a buyer later discovers these ommissions after completing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Huntington Beach, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Huntington Beach, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this will help them estimate the value of the Huntington Beach, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Huntington Beach, California restaurant.

The estimated time it takes to sell a Huntington Beach, California restaurant is 6 months. Within the six months, there is a lot you can do in order to strengthen your profit and cut several costs, and thus strengthen the value of your Huntington Beach, 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 will help you in coming up with the probable value of your Huntington Beach, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Huntington Beach, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall curb appeal of your Huntington Beach, California restaurant does not appeal to buyers, they might take a pass without consideration.

To prevent this from happening, everything in and out of your Huntington Beach, California restaurant must be cleaned and maintained. Manicured and a clean parking area may help create curb appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are other easy things that would help create a unforgettable initial impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it could send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and production capabilities. It may even lower the excitment of your employees, 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 Huntington Beach, California restaurant.

#7 look for Huntington Beach 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 an experienced Huntington Beach, California restaurant broker to help. A professional Huntington Beach, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this task yourself, you will need to carry out proper advertising. You can list your Huntington Beach, California restaurant on listing websites and tell family and friends about your plans to market for sale your Huntington Beach, California restaurant.

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

#8 Be Ready

If you decide to sell your Huntington Beach, California restaurant yourself, or with a a Huntington Beach, California restaurant broker, you need to always be ready. Be ready to show your Huntington Beach, California restaurant to potential buyers at all times.

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

#9 Sell Your Huntington Beach, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The documentation will likely start with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Huntington Beach, California Restaurant Broker

Although trying to sell your Huntington Beach, California restaurant on your own can be an exhilarating endeavor, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business transaction, you need a higher level of expertise in order to stand above and against your competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Huntington Beach, California restaurant broker comes in. A Huntington Beach, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Huntington Beach, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Huntington Beach, California Restaurant Broker

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

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

Huntington Beach Zip Codes We Support: 90742, 92605, 92615, 92646, 92647, 92648, 92649