Decided to Sell Your Lennox, California Restaurant?

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

Considering opening a different eatery, moving, or even slowing down. Regardless of the reason, selling your Lennox, California restaurant can be a lot more complicated than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough money for all the sweat you may have put into it.

Important Steps to Take in Selling Your Restaurant

You may either make the decision to contract with a Lennox, California restaurant broker to assist you in selling your Lennox, California restaurant or do the task on your own. If you are considering selling your Lennox, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Paperwork

This is an important initial step to make when you begin the process of marketing your Lennox, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Lennox, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a prospective buyer day one. However, you should have them ready because you will certainly require them during the sales process.

Also, putting together these documents allows you to see your Lennox, California restaurant through the lens of a buyer. It provides you a clear image of the Lennox, California restaurant you're selling. In addition, it helps you show whether there are any areas you'll have to address.

#2 Get Your Financial Records in Order

Your financial records are an important aspect of selling your Lennox, California restaurant. That’s why you should strive to make your documents accurate and well organized.

Showing your financial records to possible buyers could assist to clear any hesitations they may have concerning your Lennox, California restaurant.

Your financial documents may include:

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

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

Also, as the seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later discovers these ommissions after sealing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Lennox, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Lennox, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financial records, whether favorable or not, this will help them evaluate the value of the Lennox, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your Lennox, California restaurant.

The average time it takes to sell a Lennox, California restaurant is 6 months. Within those six months, there are several things you can do to strengthen your profit and slash several costs, and therefore increase the worth of your Lennox, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may help you in coming up with the overall worth of your Lennox, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Lennox, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the general look of your Lennox, California restaurant does not look good to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your Lennox, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Clean windows, polished handles and a clean floor are other simple items that could help create a memorable initial impression.

Furthermore, you should ensure that all your equipment is in satisfactory condition. If your equipment is not working properly, it could convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and production abilities. It may even dampen the excitment of your staff, which 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 Lennox, California restaurant.

#7 Search for Lennox Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Lennox, California restaurant broker to help. The professional Lennox, California restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project alone, you will need to carry out appropriate advertising. You can list your Lennox, California restaurant on business websites and tell family and friends about your intentions to market for sale your Lennox, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Lennox, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the transaction. The documentation will likely start with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Lennox, California Restaurant Broker

Although trying to sell your Lennox, California restaurant on your own can be an exhilarating project, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business deal, you need some level of expertise in order to stand above and against the cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Lennox, California restaurant broker is needed. A Lennox, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Lennox, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Lennox, California Restaurant Broker

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

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

Lennox Zip Codes We Support: 90304