Right Time to Sell Your Lancaster, California Restaurant?

Following years of labor, you have made the decision sell your Lancaster, California restaurant

Considering opening a new eatery, moving, or even slowing down. No matter the reason, selling your Lancaster, California restaurant can be a lot more difficult than you might think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you may have put into it.

Necessary Actions to Consider in Selling Your Restaurant

You may either decide to contract with a Lancaster, California restaurant broker to guide you in selling your Lancaster, California restaurant or take on the task on your own. Whether considering selling your Lancaster, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather any Business Paperwork

This is a necessary initial step to take when you begin the process of marketing your Lancaster, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some general documents you may need to have on you:

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

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

You certainly do not want to reveal all these documents to a potrntial buyer first day. However, you should have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you see your Lancaster, California restaurant through the lens of a buyer. It gives you a clear picture of the Lancaster, California restaurant you are offering for sale. In addition, it allows you to show whether there are any areas you will have to address.

#2 Put Your Financial Documents in Order

Your financial records are an important detail of selling your Lancaster, California restaurant. This is the reason you should make it a priority to have these documents accurate and organized.

Showing your financial documents to potential buyers could help clear any doubt they might have concerning your Lancaster, California restaurant.

These financial records can include:

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

In addition, make sure you have duplicate copies of all of these documents. This can make it easier for you to transmit the information to potential buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later on discovers these ommissions post completing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Lancaster, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Lancaster, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the true value of the Lancaster, 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 Lancaster, California restaurant.

The average time it may take to sell a Lancaster, California restaurant is 6 months. Within those six months, there are several things you can do to strengthen your profit and reduce several costs, and thus increase the worth of your Lancaster, 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 may assist you in deriving the probable value of your Lancaster, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

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

To prevent this from happening, everything in and out of your Lancaster, California restaurant must be clean. Manicured and a clean parking area may help create curb appeal for potential buyers.

Clean windows, polished handles and a presentable floor are other small items that would help create a great first impression.

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

Non-functional equipment also raises doubt about your financial situation and output capabilities. It may even lower the mood of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Lancaster Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Lancaster, California restaurant broker to help. A professional Lancaster, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this task yourself, you will need to carry out appropriate advertising. You can market your Lancaster, California restaurant on business websites and tell family and friends about your intentions to market for sale your Lancaster, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Lancaster, California restaurant yourself, or with a a Lancaster, California restaurant broker, you should always be ready. Be ready to show your Lancaster, California restaurant to potential buyers at all times.

You'll never know when a buyer could walk into your Lancaster, California restaurant. Some buyers may even visit as customers in order to perform some research before contacting you.

#9 Sell Your Lancaster, 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 transaction. The documentation will likely start with the Asset Purchase Agreement.

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

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

Choosing a Lancaster, California Restaurant Broker

While attempting to sell your Lancaster, California restaurant on your own can be an exhilarating endeavor, it can also be very risky, especially for first-timers.

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

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

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

Contact a Lancaster, California Restaurant Broker

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

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

Lancaster Zip Codes We Support: 93534, 93535, 93536, 93539, 93551, 93584, 93586