Are You Ready to Sell Your La Quinta, California Restaurant?

Following years of hard work, you have decided to sell your La Quinta, California restaurant

Considering opening a different La Quinta, California restaurant, relocating, or maybe retiring. No matter the reason, selling your La Quinta, California restaurant can be way more challenging than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the time you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your La Quinta, California restaurant or take on the task yourself. If you are considering selling your La Quinta, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather the Necessary Paperwork

This is an important first step to make when you begin the process of marketing your La Quinta, California restaurant.

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

• A list of your assets
• Lease documentation
• 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 comes with experience to help you in the sale of your La Quinta, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show the majority of these documents to a prospective buyer day one. However, you should have them ready because you will certainly need them during the sales process.

Also, putting together these documents lets you view your La Quinta, California restaurant through the lens of a buyer. It provides you a clear picture of the La Quinta, California restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any concerns you will have to take care of.

#2 Get Your Financials in Order

Your financial records are a crucial detail of selling your La Quinta, California restaurant. That’s why you should strive to make your documents accurate and well organized.

Offering your financial records to potential buyers could assist to clear any hesitations they might have regarding your La Quinta, California restaurant.

Your 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 records. This could make it easier for you to send the documentation to prospective buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these liabilities post closing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your La Quinta, 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 have a discussion with your landlord regarding your plan to sell your La Quinta, California restaurant and to potentially extend your lease.

#4 Appraise 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 the La Quinta, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build your cash flow starting to sell your La Quinta, California restaurant.

The estimated time it takes to sell a La Quinta, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and reduce several costs, and thus increase the value of your La Quinta, California restaurant.

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

This could assist you in coming up with the probable worth of your La Quinta, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Make Your Restaurant Look Good

The appearance of your La Quinta, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your La Quinta, California restaurant does not look good to buyers, they might pass over without a second look.

To prevent this from happening, all things in and out of your La Quinta, California restaurant must be clean. Landscaping and a clean parking area may help create appeal for potential buyers.

Clean windows, polished door handles and a clean floor are other simple things that would help create a great first impression.

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

Faulty equipment may rouse doubt about your financial capabilities and production capabilities. It can even lower the mood 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 Quinta, California restaurant.

#7 Search for La Quinta Buyers

Searching for potential buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced La Quinta, California restaurant broker to help. The professional La Quinta, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to carry out appropriate advertising. You can offer your La Quinta, California restaurant on business websites and let your family and friends know about your plans to market for sale your La Quinta, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your La Quinta, California Restaurant

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

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

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

Choosing a La Quinta, California Restaurant Broker

While attempting to sell your La Quinta, California restaurant on your own can be an exciting project, it could also be quite risky, especially for first time sellers.

It's true, if you're looking to get the most from of the business deal, you need some level of expertise to stand above and against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced La Quinta, California restaurant broker is recommended. A La Quinta, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your La Quinta, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a La Quinta, California Restaurant Broker

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

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

La Quinta Zip Codes We Support: 92202, 92247, 92248, 92253, 92274