Right Time to Sell Your La Mesa, California Restaurant?

After years of labor, you have made the decision sell your La Mesa, California restaurant

Contemplating opening a different eatery, relocating, or maybe retiring. Regardless of the reason, selling your La Mesa, California restaurant can be a lot more challenging than you may think. Thats because it takes careful preparation and a solid strategy to successfully get out with enough profit for all the labor you may have put into it.

Important Steps to Take in Selling Your Restaurant

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

#1 Gather any Business Paperwork

This is a necessary first step to make when you start the process of offering your La Mesa, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some general documents you may find helpful to have ready:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your La Mesa, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

In addition, putting together these documents lets you see your La Mesa, California restaurant through the lens of a buyer. It provides you a clear picture of the La Mesa, California restaurant you're selling. Furthermore, it allows you to identify if there are any loopholes you'll have to address.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your La Mesa, California restaurant. That’s the reason you should make it a priority to have your documents accurate and organized.

Offering your financial records to possible buyers could assist to clear any doubt they might have concerning your La Mesa, California restaurant.

These financial records may include:

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

In addition, make sure you have hard copies of all of these documents. This could make it easier for you to send the documentation to potential buyers.

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

#3 Gather the Information On Your Commercial Lease

While preparing to sell your La Mesa, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your La Mesa, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the true value of the La Mesa, California restaurant.

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

The estimated time it takes to sell a La Mesa, 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 value of your La Mesa, California restaurant.

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

This could assist you in coming up with the probable value of your La Mesa, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your La Mesa, California restaurant could go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your La Mesa, California restaurant does not appeal to buyers, they might take a pass without consideration.

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

Spot-free windows, polished handles and a presentable floor are other easy items that would help create a great first impression.

Furthermore, you should ensure all the equipment is in satisfactory 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.

Non-functional equipment could raise doubt about your financial capabilities and production capabilities. It can even lower the mood 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 purchasing your La Mesa, California restaurant.

#7 look for La Mesa Buyers

Searching for prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced La Mesa, California restaurant broker to help. A professional La Mesa, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this task yourself, you will need to create proper advertising. You can market your La Mesa, California restaurant on business websites and let your family and friends know about your plans to sell your La Mesa, California restaurant.

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

#8 Be Prepared

If you decide to sell your La Mesa, California restaurant yourself, or through a La Mesa, California restaurant broker, you need to always be prepared. Be prepared to show your La Mesa, California restaurant to potential buyers at all times.

You will never know when a buyer could walk into your La Mesa, California restaurant. Some buyers might even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your La Mesa, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the contract. The paperwork will usually start with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your La Mesa, California restaurant, items and equipment as well as inventory value.

Choosing a La Mesa, California Restaurant Broker

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

The fact remains, if you're looking to get the most from of the business deal, you need a higher level of expertise in order to stand above and against the competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced La Mesa, California restaurant broker comes in. A La Mesa, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your La Mesa, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a La Mesa, California Restaurant Broker

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

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

La Mesa Zip Codes We Support: 91941, 91942, 91943, 91944