Decided to Sell Your La Habra, California Restaurant?

Following years of hard work, you have made the decision sell your La Habra, California restaurant

Contemplating opening a new eatery, relocating, or maybe slowing down. No matter the reason, selling your La Habra, California restaurant can be a lot more difficult than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to hire a La Habra, California restaurant broker to guide you in selling your La Habra, California restaurant or do the task yourself. If you are considering selling your La Habra, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Necessary Paperwork

This is a necessary initial step to make when you begin the process of offering your La Habra, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of a few generalized documents you may be requierd to have prepared:

• 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 sale of your La Habra, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal all these documents to a prospective buyer right away. However, you should have them on hand because you will certainly need them during the sales process.

Also, putting together these documents allows you to see your La Habra, California restaurant through the lens of a buyer. This provides you a clear image of the La Habra, California restaurant you're selling. Furthermore, it allows you to identify whether there are any areas you'll need to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important aspect of selling your La Habra, California restaurant. That’s why you should make an effort to make these documents accurate and well organized.

Showing your financial records to possible buyers may assist to clear any doubt they may have regarding your La Habra, California restaurant.

Your 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 the documents. This could make it easier for you to transmit the documentation to potential buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later discovers these ommissions post completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your La Habra, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your La Habra, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this helps them estimate the value of the La Habra, California restaurant.

This will be in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow starting to sell your La Habra, California restaurant.

The average time it takes to sell a La Habra, 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 therefore strengthen the worth of your La Habra, 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 may help you in deriving the overall value of your La Habra, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your La Habra, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general curb appeal of your La Habra, California restaurant does not look good to buyers, they might take a pass right off the bat.

To prevent this from happening, everything in and out of your La Habra, California restaurant must be clean. Manicured and a clean parking area could help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also easy items that could help create a memorable initial impression.

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

Non-functional equipment can raise doubt about your financial situation and output abilities. It could even lower the morale of your staff, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 Search for La Habra Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced La Habra, California restaurant broker to help. The professional La Habra, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project yourself, you will need to carry out proper advertising. You can market your La Habra, California restaurant on business websites and let your family and friends know about your plans to market for sale your La Habra, California restaurant.

As you will likely run across competition when trying to sell your La Habra, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You will never know when a buyer will walk into your La Habra, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.

#9 Sell Your La Habra, California Restaurant

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

You may need your attorney’s help in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a La Habra, California Restaurant Broker

Although attempting to sell your La Habra, California restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to get 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 find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced La Habra, California restaurant broker is needed. A La Habra, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your La Habra, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a La Habra, California Restaurant Broker

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

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

La Habra Zip Codes We Support: 90631, 90632, 90633