Decided to Sell Your Lawndale, California Restaurant?

After years of hard work, you have made the decision sell your Lawndale, California restaurant

Contemplating opening a new eatery, moving, or maybe slowing down. Regardless of the reason, selling a Lawndale, 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 profit for all the time you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either decide to hire a Lawndale, California restaurant broker to assist you in selling your Lawndale, California restaurant or do the task on your own. Whether considering selling your Lawndale, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Put Together all Important Paperwork

This is an important preparatory step to take when you begin the process of marketing your Lawndale, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of a few standard documents you may find helpful to have on you:

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

Corbett Restaurant Group has the experience to help you in the market for sale of your Lawndale, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to show the majority of these documents to a potrntial buyer day one. But, you may want to have them ready because you will certainly need them during the sales process.

Also, compiling these documents allows you to view your Lawndale, California restaurant through the lens of a buyer. This provides you a clear image of the Lawndale, California restaurant you are offering for sale. In addition, it helps you identify whether there are any areas you'll have to address.

#2 Put Your Financial Records in Order

Your financial documents are an important aspect of selling your Lawndale, California restaurant. That’s the reason you should strive to make these documents complete and organized.

Showing your financial documents to prospective buyers may help clear any hesitations they might have concerning your Lawndale, California restaurant.

Your financial documents may 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 these documents. This could make it easier for you to send the records to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items can create legal problems for you if a buyer later on discovers these ommissions post closing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Lawndale, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Lawndale, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth analysis of your financials, whether favorable or not, this helps them evaluate the value of the Lawndale, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow planning to sell your Lawndale, California restaurant.

The average time it may take to sell a Lawndale, California restaurant is 6 months. Within the six months, there are many things you can do in order to increase your profit and cut several costs, and thus increase the value of your Lawndale, California restaurant.

In addition, when it comes to your assets, you need 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 Lawndale, California restaurant. When you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Lawndale, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the general appearance of your Lawndale, California restaurant does not appeal to buyers, they might take a pass without consideration.

To avoid this from happening, everything in and out of your Lawndale, California restaurant must be clean. Manicured and a clean parking lot can help create appeal for potential buyers.

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

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

Faulty equipment could raise doubt about your financial status and production abilities. It could even lower the morale of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Lawndale Buyers

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

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

#8 Be Prepared

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

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

#9 Sell Your Lawndale, California Restaurant

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

You may need your attorney’s expertise in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details such as the selling price of your Lawndale, California restaurant, items and equipment and inventory value.

Choosing a Lawndale, California Restaurant Broker

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

It's true, in order for you to get the most out of the business transaction, you need a higher level of experience in order to stand out against the competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Lawndale, California restaurant broker comes in. A Lawndale, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Lawndale, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Lawndale, California Restaurant Broker

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

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

Lawndale Zip Codes We Support: 90250, 90260