Decided to Sell Your Lakeside, California Restaurant?

Following years of sweat equity, you have made the decision sell your Lakeside, California restaurant

Considering opening a new Lakeside, California restaurant, relocating, or even retiring. Regardless of the reason, selling a Lakeside, California restaurant can be a lot more difficult than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough profit for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your Lakeside, California restaurant or take on the task on your own. Whether considering selling your Lakeside, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Business Paperwork

This is a necessary preparatory step to take when you commence the process of marketing your Lakeside, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of some general documents you may need to have ready:

• Gather your assets
• Lease documentation
• 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 comes with expertise to assist you in the market for sale of your Lakeside, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a potrntial buyer first day. But, you should have them ready because you will eventually require them during the sales process.

In addition, putting together these documents allows you to view your Lakeside, California restaurant through the lens of a buyer. This provides you a clear image of the Lakeside, California restaurant you are offering for sale. Furthermore, it helps you show whether there are any areas you will have to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Lakeside, California restaurant. That’s why you should strive to have your documents complete and organized.

Offering your financial documents to potential buyers may assist to clear any hesitations they may have regarding your Lakeside, 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 soft copies of all of the records. This could make it easier for you to transmit the documentation to prospective buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things can create legal problems for you if a buyer later discovers these liabilities after signing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Lakeside, 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 talk to your landlord concerning your plan to sell your Lakeside, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Lakeside, California restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to increase your cash flow starting to sell your Lakeside, California restaurant.

The estimated time it may take to sell a Lakeside, California restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and slash various costs, and therefore increase the value of your Lakeside, 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 estimate your assets.

This will assist you in coming up with the probable worth of your Lakeside, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Lakeside, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall curb appeal of your Lakeside, California restaurant does not appeal to buyers, they could take a pass right off the bat.

To avoid this from happening, all things in and out of your Lakeside, California restaurant must be cleaned and maintained. Landscaped and a clean parking area could help create appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are other small things that would help create a memorable first impression.

Furthermore, you should ensure that all your equipment is in top condition. If your equipment is not functioning, it might convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial capabilities and production capabilities. It can even lower the excitment of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning buying your Lakeside, California restaurant.

#7 Search for Lakeside Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Lakeside, California restaurant broker to help. A professional Lakeside, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this task yourself, you will need to create proper advertising. You can list your Lakeside, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Lakeside, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Lakeside, California restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Lakeside, California Restaurant

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

You may need your attorney’s expertise in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Lakeside, California Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business deal, you need a higher level of expertise in order to stand out against your cometitors while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Lakeside, California restaurant broker is recommended. A Lakeside, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Lakeside, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Lakeside, California Restaurant Broker

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

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

Lakeside Zip Codes We Support: 92021, 92040