Ready to Sell Your Imperial Beach, California Restaurant?

After years of sweat equity, you have made the decision sell your Imperial Beach, California restaurant

Considering opening a new eatery, moving, or maybe slowing down. Regardless of the reason, selling your Imperial Beach, California restaurant can be way more challenging than you may think. This is because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the sweat you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Imperial Beach, California restaurant or do the task on your own. If you are considering selling your Imperial Beach, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together the Necessary Paperwork

This is an important first step to take when you start the process of offering your Imperial Beach, California restaurant.

The necessary paperwork 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 on you:

• A list of your assets
• Lease document
• 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 has the experience to assist you in the market for sale of your Imperial Beach, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

Also, putting together these documents allows you to view your Imperial Beach, California restaurant through the lens of a buyer. This provides you a clear picture of the Imperial Beach, California restaurant you're selling. Furthermore, it helps you identify if there are any areas you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Imperial Beach, California restaurant. That’s the reason you should strive to make these documents accurate and organized.

Offering your financial documents to prospective buyers could help clear any doubt they may have concerning your Imperial Beach, California restaurant.

The financial documents could include:

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

In addition, ensure you have soft copies of all of these documents. This could make it easier for you to send the records to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items could create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Imperial Beach, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Imperial Beach, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Imperial Beach, California restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow planning to sell your Imperial Beach, California restaurant.

The average time it may take to sell a Imperial Beach, 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 increase the value of your Imperial Beach, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could aid you in estimating the probable worth of your Imperial Beach, California restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Imperial Beach, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the general curb appeal of your Imperial Beach, California restaurant does not appeal to buyers, they might take a pass without consideration.

To prevent this from happening, all things in and out of your Imperial Beach, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot could help create appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also small items that would help create a great initial impression.

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

Faulty equipment can raise doubt about your financial situation and production capabilities. It may even lower the morale of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your Imperial Beach, California restaurant.

#7 look for Imperial Beach Buyers

Searching for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire an experienced Imperial Beach, California restaurant broker to help. A professional Imperial Beach, 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 task by yourself, you will need to carry out proper advertising. You can show your Imperial Beach, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Imperial Beach, California restaurant.

As you will probably run across competition when trying to sell your Imperial Beach, California restaurant, you need your restaurant to stand out.

#8 Be Ready

Whether you decide to sell your Imperial Beach, California restaurant yourself, or with a a Imperial Beach, California restaurant broker, you should always be prepared. Be prepared to show your Imperial Beach, California restaurant to prospective buyers at all times.

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

#9 Sell Your Imperial Beach, California Restaurant

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

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

This document includes details including the selling price of your Imperial Beach, California restaurant, items and equipment and inventory value.

Choosing a Imperial Beach, California Restaurant Broker

While attempting to sell your Imperial Beach, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

The fact remains, if you're looking to achieve the most out of the business transaction, you need a higher level of experience in order to stand out against your cometitors while attempting to attract buyers.

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

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

Contact a Imperial Beach, California Restaurant Broker

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

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

Imperial Beach Zip Codes We Support: 91932, 91933, 92154