Right Time to Sell Your La Puente, California Restaurant?

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

Considering starting a different eatery, relocating, or even slowing down. No matter the reason, selling your La Puente, 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 walk away with enough profit for all the labor you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Gather the Important Paperwork

This is an important preparatory step to take when you commence the process of selling your La Puente, California restaurant.

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

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

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

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

#2 Put Your Financials in Order

Your financial documents are an important part of selling your La Puente, California restaurant. This is why you should make an effort to make your documents accurate and well organized.

Showing your financial documents to potential buyers could help clear any doubt they might have regarding your La Puente, California restaurant.

The financial documents may include:

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

Also, ensure you have soft copies of all of the documents. This can make it easier for you to send the information to potential buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things could create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your La Puente, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your La Puente, 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 helps with estimating the value of the La Puente, California restaurant.

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

The average time it takes to sell a La Puente, California restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and thus increase the value of your La Puente, California restaurant.

In addition, with regards 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 coming up with the probable value of your La Puente, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your La Puente, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the general aesthetic of your La Puente, California restaurant does not look good to buyers, they likely pass over immediately.

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

Clean windows, polished handles and a presentable floor are also easy items that would help create a memorable initial impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it can convey the message that you're in a hurry 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 mood of your employees, which 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 La Puente, California restaurant.

#7 Search for La Puente Buyers

Marketing to potential buyers can be time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced La Puente, California restaurant broker to help. A professional La Puente, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this task alone, you will need to create proper advertising. You can show your La Puente, California restaurant on business websites and let your family and friends know about your plans to sell your La Puente, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your La Puente, California restaurant yourself, or with a a La Puente, California restaurant broker, you need to always be ready. Be prepared to show your La Puente, California restaurant to potential buyers at all times.

You never know when a buyer could visit your La Puente, California restaurant. Some buyers may even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your La Puente, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the contract. The paperwork will likely begin with the Asset Purchase Agreement.

You may need your attorney’s help in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a La Puente, California Restaurant Broker

While trying to sell your La Puente, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

The fact remains, in order for you to achieve the most from of the business transaction, you need a higher level of expertise in order to stand out against your competition while attempting to attract buyers.

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

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

Contact a La Puente, California Restaurant Broker

Choosing to sell your La Puente, California restaurant through a La Puente, California restaurant broker has many advantages. First, however, you need to select the best La Puente, California restaurant broker to assist you in selling your La Puente, California restaurant.

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

La Puente Zip Codes We Support: 91744, 91746, 91747, 91749