Time to Sell Your Isla Vista, California Restaurant?

Following years of hard work, you have made the decision sell your Isla Vista, California restaurant

Contemplating starting a new Isla Vista, California restaurant, relocating, or even slowing down. Regardless of the reason, selling a Isla Vista, California restaurant can be way more challenging than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the sweat you may have put into it.

Important Actions to Take when Selling Your Restaurant

You may either think to hire a eatery broker to guide you in selling your Isla Vista, California restaurant or do the task on your own. Whether considering selling your Isla Vista, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together the Important Paperwork

This is an important initial step to make when you start the process of offering your Isla Vista, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of a few standard documents you may be requierd to have on you:

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

Corbett Restaurant Group has the expertise to help you in the sale of your Isla Vista, 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 potrntial buyer right away. But, you should have them ready because you will eventually need them during the sales process.

In addition, putting together these documents allows you to see your Isla Vista, California restaurant through the lens of a buyer. It provides you a clear image of the Isla Vista, California restaurant you're selling. Furthermore, it helps you identify if there are any areas you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are an important part of selling your Isla Vista, California restaurant. That’s why you should make an effort to have your documents complete and organized.

Offering your financial records to prospective buyers could aid clear any hesitations they may have concerning your Isla Vista, California restaurant.

Your financial records could include:

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

Also, make sure you have hard copies of all of these documents. This will make it easier for you to transmit the information to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things may create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Isla Vista, 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 may advisable to talk to your landlord regarding your plan to sell your Isla Vista, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps them evaluate the true value of your Isla Vista, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow planning to sell your Isla Vista, California restaurant.

The average time it may take to sell a Isla Vista, California restaurant is six months. Within those six months, there is a lot you can do in order to increase your profit and reduce several costs, and thus increase the value of your Isla Vista, California restaurant.

In addition, 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 will aid you in coming up with the overall worth of your Isla Vista, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Isla Vista, California restaurant can go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Isla Vista, California restaurant does not appeal to buyers, they might take a pass without a second look.

To prevent this from happening, all things in and out of your Isla Vista, California restaurant must be clean. Landscaping and a clean parking lot could help create appeal for prospective buyers.

Clean windows, polished handles and a neat floor are other small items that would help create a unforgettable initial impression.

Additionally, you should make sure that all your equipment is in top condition. If your equipment is not working properly, it might send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial situation and production abilities. It can even dampen the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Isla Vista, California restaurant.

#7 Search for Isla Vista Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Isla Vista, California restaurant broker to help. A professional Isla Vista, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create appropriate advertising. You can market your Isla Vista, California restaurant on business websites and tell family and friends about your intentions to market for sale your Isla Vista, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Isla Vista, California restaurant yourself, or with a a Isla Vista, California restaurant broker, you need to always be prepared. Be prepared to show your Isla Vista, California restaurant to prospective buyers at all times.

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

#9 Sell Your Isla Vista, California Restaurant

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

You may need your attorney’s help in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

This agreement includes details including the selling price of your Isla Vista, California restaurant, assets and equipment and inventory value.

Choosing a Isla Vista, California Restaurant Broker

Although attempting to sell your Isla Vista, California restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first time sellers.

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

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

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

Contact a Isla Vista, California Restaurant Broker

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

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

Isla Vista Zip Codes We Support: 93107, 93117