Right Time to Sell Your La Verne, California Restaurant?

Following years of sweat equity, you have decided to sell your La Verne, California restaurant

Contemplating opening a different eatery, moving, or even slowing down. No matter the reason, selling your La Verne, California restaurant can be way more challenging than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the sweat you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either make the decision to contract with a La Verne, California restaurant broker to guide you in selling your La Verne, California restaurant or do the task yourself. Whether considering selling your La Verne, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together any Business Paperwork

This is an important initial step to take when you start the process of offering your La Verne, California restaurant.

The required paperwork 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 prepared:

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

Corbett Restaurant Group has the experience to assist you in the sale of your La Verne, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a potrntial buyer right away. But, you should 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 Verne, California restaurant through the lens of a buyer. It provides you a clear image of the La Verne, California restaurant you are offering for sale. Furthermore, it helps you show whether there are any concerns you will need to take care of.

#2 Get Your Financials in Order

Your financial records are a crucial part of selling your La Verne, California restaurant. That’s the reason you should strive to have your documents complete and organized.

Showing your financial documents to possible buyers could aid clear any hesitations they might have concerning your La Verne, California restaurant.

The financial records may include:

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

In addition, ensure you have hard copies of all of these records. This will make it easier for you to transmit the documentation to possible buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things can create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your La Verne, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this will help them estimate the true value of your La Verne, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow before trying to sell your La Verne, California restaurant.

The estimated time it takes to sell a La Verne, California restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and cut several costs, and thus strengthen the value of your La Verne, 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 will help you in estimating the overall worth of your La Verne, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your La Verne, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall aesthetic of your La Verne, California restaurant does not appeal to buyers, they could take a pass without consideration.

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

Spot-free windows, polished handles and a presentable floor are also simple things that could help create a memorable initial impression.

Additionally, you should make sure that all the equipment is in top condition. If your equipment is not working properly, it can convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and output abilities. It could even dampen the morale of your staff, 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 buying your La Verne, California restaurant.

#7 look for La Verne Buyers

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

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

#8 Be Ready

Regardless if you decide to sell your La Verne, California restaurant yourself, or with a a La Verne, California restaurant broker, you should always be prepared. Be prepared to show your La Verne, California restaurant to prospective buyers at all times.

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

#9 Sell Your La Verne, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The documentation will usually begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a La Verne, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business deal, you need some level of experience in order to stand out against your competition while trying to attract buyers.

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

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

Contact a La Verne, California Restaurant Broker

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

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

La Verne Zip Codes We Support: 91750