Decided to Sell Your Lake Forest, California Restaurant?

Following years of labor, you have decided to sell your Lake Forest, California restaurant

Considering starting a different Lake Forest, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling your Lake Forest, California restaurant can be way more complicated than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the sweat you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either think to hire a Lake Forest, California restaurant broker to guide you in selling your Lake Forest, California restaurant or take on the task yourself. If you are considering selling your Lake Forest, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather all Important Documentation

This is an important initial step to make when you begin the process of offering your Lake Forest, California restaurant.

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

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

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

It's probably smart not to show the majority of these documents to a prospective buyer first day. But, you should have them on hand because you will certainly require them during the sales process.

Also, compiling these documents allows you to see your Lake Forest, California restaurant through the lens of a buyer. It provides you a clear picture of the Lake Forest, California restaurant you're selling. In addition, it allows you to identify whether there are any concerns you will need to take care of.

#2 Get Your Financials in Order

Your financial documents are a crucial part of selling your Lake Forest, California restaurant. That’s why you should make an effort to make your documents accurate and organized.

Showing your financial records to potential buyers may help clear any hesitations they may have regarding your Lake Forest, California restaurant.

Your financial documents could include:

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

Also, make sure you have hard copies of all of these documents. This may make it easier for you to transmit the records to prospective buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items may create legal issues for you if a buyer later discovers these ommissions after signing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Lake Forest, 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 Lake Forest, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this will help them evaluate the value of your Lake Forest, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow planning to sell your Lake Forest, California restaurant.

The estimated time it may take to sell a Lake Forest, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and reduce several costs, and thus strengthen the value of your Lake Forest, California restaurant.

In addition, 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 deriving the overall worth of your Lake Forest, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Lake Forest, California restaurant can go a great distance in helping you attract potential buyers. Conversely, if the overall appearance of your Lake Forest, California restaurant does not look good to buyers, they might take a pass right off the bat.

To avoid this from happening, all things in and out of your Lake Forest, California restaurant must be clean. Landscaping and a clean parking lot may help create appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are also easy items that can help create a memorable initial impression.

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

Faulty equipment could raise doubt about your financial status and production abilities. It can even dampen the excitment 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 prospective buyers concerning buying your Lake Forest, California restaurant.

#7 look for Lake Forest Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Lake Forest, California restaurant broker to help. A professional Lake Forest, California restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to carry out proper advertising. You can list your Lake Forest, California restaurant on business websites and let your family and friends know about your intentions to sell your Lake Forest, California restaurant.

As you will likely run across competition when trying to sell your Lake Forest, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

Whether you decide to sell your Lake Forest, California restaurant yourself, or with a a Lake Forest, California restaurant broker, you should always be prepared. Be prepared to show your Lake Forest, California restaurant to prospective buyers at all times.

You never know when a buyer will visit your Lake Forest, California restaurant. Some buyers might even come in as customers in order to perform some research before contacting you.

#9 Sell Your Lake Forest, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the deal. The paperwork will usually start with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

This document includes details including the selling price of your Lake Forest, California restaurant, assets and equipment as well as inventory value.

Choosing a Lake Forest, California Restaurant Broker

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

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

Experience is also vital during negotiations with prospective buyers. This is when an experienced Lake Forest, California restaurant broker is recommended. A Lake Forest, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Lake Forest, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Lake Forest, California Restaurant Broker

Choosing to sell your Lake Forest, California restaurant through a Lake Forest, California restaurant broker has multiple advantages. First, however, you need to select the best Lake Forest, California restaurant broker to help you in selling your Lake Forest, California restaurant.

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

Lake Forest Zip Codes We Support: 92610, 92618, 92630, 92676, 92679, 92691