Decided to Sell Your La Canada Flintridge, California Restaurant?

After years of labor, you have decided to sell your La Canada Flintridge, California restaurant

Considering starting a different eatery, moving, or even retiring. Regardless of the reason, selling your La Canada Flintridge, California restaurant can be way more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough profit for all the labor you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either decide to hire a La Canada Flintridge, California restaurant broker to help you in selling your La Canada Flintridge, California restaurant or take on the task on your own. Whether considering selling your La Canada Flintridge, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together any Important Documentation

This is an important preparatory step to take when you start the process of marketing your La Canada Flintridge, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some generalized 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 drawings
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to assist you in the sale of your La Canada Flintridge, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

Also, putting together these documents allows you to see your La Canada Flintridge, California restaurant through the lens of a buyer. This gives you a clear picture of the La Canada Flintridge, California restaurant you are offering for sale. Furthermore, it allows you to identify if there are any concerns you will have to take care of.

#2 Get Your Financials in Order

Your financial documents are an important detail of selling your La Canada Flintridge, California restaurant. This is why you should make it a priority to make your documents complete and organized.

Showing your financial documents to potential buyers may aid clear any hesitations they might have concerning your La Canada Flintridge, California restaurant.

These 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 the records. This could make it easier for you to transmit the records to prospective buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your La Canada Flintridge, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your La Canada Flintridge, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the value of your La Canada Flintridge, 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 your cash flow before trying to sell your La Canada Flintridge, California restaurant.

The estimated time it takes to sell a La Canada Flintridge, California restaurant is 6 months. Within the six months, there are several things you can do in order to strengthen your profit and cut several costs, and therefore strengthen the value of your La Canada Flintridge, California restaurant.

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

This will aid you in estimating the overall worth of your La Canada Flintridge, California restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Better

The appearance of your La Canada Flintridge, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general aesthetic of your La Canada Flintridge, California restaurant does not look good to buyers, they might take a pass without consideration.

To avoid this from happening, everything in and out of your La Canada Flintridge, California restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create curb appeal for potential buyers.

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

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

Faulty equipment may rouse doubt about your financial situation and production capabilities. It may even lower the mood of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding buying your La Canada Flintridge, California restaurant.

#7 Search for La Canada Flintridge Buyers

Looking for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional La Canada Flintridge, California restaurant broker to help. The professional La Canada Flintridge, California restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this project alone, you will need to create appropriate advertising. You can offer your La Canada Flintridge, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your La Canada Flintridge, California restaurant.

As you will probably run across competition when trying to sell your La Canada Flintridge, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

Whether you decide to sell your La Canada Flintridge, California restaurant yourself, or with a a La Canada Flintridge, California restaurant broker, you should always be ready. Be ready to show your La Canada Flintridge, California restaurant to prospective buyers at all times.

You will never know when a buyer could walk into your La Canada Flintridge, California restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your La Canada Flintridge, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the deal. The documentation often begin with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your La Canada Flintridge, California restaurant, assets and equipment as well as inventory value.

Choosing a La Canada Flintridge, California Restaurant Broker

Although trying to sell your La Canada Flintridge, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first-timers.

It's true, if you're looking to get the most out of the business transaction, you need a higher level of experience to stand above and against your cometitors while attempting to find buyers.

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

With the help of a La Canada Flintridge, California restaurant broker, you can maintain your undivided attention on operating your La Canada Flintridge, California restaurant and rest assured with the knowledge that a professional is in charge of selling your La Canada Flintridge, California restaurant.

Contact a La Canada Flintridge, California Restaurant Broker

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

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

La Canada Flintridge Zip Codes We Support: 91011, 91012