Decided to Sell Your Inglewood, California Restaurant?

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

Considering opening a different eatery, moving, or even retiring. Regardless of the reason, selling your Inglewood, California restaurant can be a lot more difficult than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You may either make the decision to hire a eatery broker to guide you in selling your Inglewood, California restaurant or do the task yourself. Whether considering selling your Inglewood, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Documentation

This is a necessary preparatory step to take when you begin the process of offering your Inglewood, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of a few generalized documents you may need to have at hand:

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

Corbett Restaurant Group comes with experience to help you in the sale of your Inglewood, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a potrntial buyer day one. However, you may want to have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Inglewood, California restaurant through the lens of a buyer. It gives you a clear picture of the Inglewood, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any loopholes you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Inglewood, California restaurant. This is the reason you should strive to have your documents complete and well organized.

Offering your financial documents to potential buyers may aid clear any hesitations they may have concerning your Inglewood, California restaurant.

Your financial records may include:

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

Also, ensure you have duplicate copies of all of the documents. This may make it easier for you to transmit the records to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things can create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Inglewood, California restaurant, you must find out the terms 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 could be advisable to have a discussion with your landlord regarding your plan to sell your Inglewood, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the true value of the Inglewood, California restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to build your cash flow before trying to sell your Inglewood, California restaurant.

The estimated time it takes to sell a Inglewood, California restaurant is six months. Within those six months, there is a lot you can do to strengthen your profit and reduce several costs, and therefore strengthen the worth of your Inglewood, 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 value your assets.

This will help you in coming up with the overall value of your Inglewood, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Inglewood, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general aesthetic of your Inglewood, California restaurant does not look good to buyers, they likely take a pass immediately.

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

Spot-free windows, polished door handles and a clean floor are other simple items that can help create a memorable first impression.

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

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

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

#7 Search for Inglewood Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Inglewood, California restaurant broker to help. The professional Inglewood, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this task by yourself, you will need to carry out proper advertising. You can list your Inglewood, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Inglewood, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer will walk into your Inglewood, 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 Inglewood, California Restaurant

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

You may need your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Inglewood, California Restaurant Broker

Although trying to sell your Inglewood, California restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

The fact remains, in order for you to get the most from of the business transaction, you need a higher level of experience in order to stand out against your competition while trying to find buyers.

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

With the assistance of a Inglewood, California restaurant broker, you can maintain your undivided attention on operating your Inglewood, California restaurant and rest easy knowing that a professional is in charge of selling your Inglewood, California restaurant.

Contact a Inglewood, California Restaurant Broker

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

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

Inglewood Zip Codes We Support: 90056, 90301, 90302, 90303, 90304, 90305, 90306, 90307, 90308, 90309, 90311, 90312, 90313, 90397, 90398