Ready to Sell Your Laguna Beach, California Restaurant?

Following years of hard work, you have made the decision sell your Laguna Beach, California restaurant

Contemplating opening a new Laguna Beach, California restaurant, relocating, or even slowing down. No matter the reason, selling a Laguna Beach, California restaurant can be a lot more difficult than you may realize. Thats because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the labor you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Laguna Beach, California restaurant or do the task yourself. If you are considering selling your Laguna Beach, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together any Business Documentation

This is a necessary first step to take when you begin the process of offering your Laguna Beach, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of some standard documents you may be requierd to have on you:

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

Corbett Restaurant Group comes with expertise to assist you in the market for sale of your Laguna Beach, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show all these documents to a prospective buyer right away. 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 lets you see your Laguna Beach, California restaurant through the lens of a buyer. It gives you a clear picture of the Laguna Beach, California restaurant you are selling. Furthermore, it allows you to identify whether there are any loopholes you'll have to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Laguna Beach, California restaurant. This is why you should strive to make these documents complete and well organized.

Offering your financial records to prospective buyers could assist to clear any hesitations they might have concerning your Laguna Beach, California restaurant.

These financial records could include:

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

Also, ensure you have hard copies of all of the records. This could 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, expected repairs, etc. Failing to inform a buyer regarding these things can create legal problems for you if a buyer later on discovers these liabilities post sealing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Laguna Beach, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting 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 Laguna Beach, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the value of the Laguna Beach, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow planning to sell your Laguna Beach, California restaurant.

The average time it may take to sell a Laguna Beach, California restaurant is six months. Within those six months, there is a lot you can do in order to increase your profit and slash various costs, and thus increase the value of your Laguna Beach, California restaurant.

In addition, with regards 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 estimating the overall worth of your Laguna Beach, California restaurant. If you understand the overall value this could help you settle on a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Laguna Beach, California restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the general look of your Laguna Beach, California restaurant does not look good to buyers, they likely pass over without a second look.

To prevent this from happening, all things in and out of your Laguna Beach, California restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create appeal for prospective buyers.

Spot-free windows, polished door handles and a presentable floor are other small items that could help create a unforgettable initial impression.

Additionally, you should ensure that all your equipment is in top condition. If your equipment is not working, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial situation and production capabilities. It can even lower the mood of your staff, and 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 concerning purchasing your Laguna Beach, California restaurant.

#7 Search for Laguna Beach Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Laguna Beach, California restaurant broker to help. The professional Laguna Beach, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project by yourself, you will need to create appropriate advertising. You can list your Laguna Beach, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Laguna Beach, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Laguna Beach, California restaurant. Some buyers might even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Laguna Beach, California Restaurant

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

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

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

Choosing a Laguna Beach, California Restaurant Broker

While trying to sell your Laguna Beach, California restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business transaction, you need a higher level of experience to stand out against your cometitors while attempting to attract buyers.

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

With the assistance of a Laguna Beach, California restaurant broker, you can focus your undivided attention on operating your Laguna Beach, California restaurant and rest easy with the knowledge that a professional is in charge of selling your Laguna Beach, California restaurant.

Contact a Laguna Beach, California Restaurant Broker

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

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

Laguna Beach Zip Codes We Support: 92637, 92651, 92652, 92677