Time to Sell Your Lincoln, California Restaurant?

After years of sweat equity, you have made the decision sell your Lincoln, California restaurant

Contemplating starting a different Lincoln, California restaurant, relocating, or maybe retiring. Regardless of the reason, selling your Lincoln, California restaurant can be way more challenging than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either make the decision to hire a Lincoln, California restaurant broker to help you in selling your Lincoln, California restaurant or do the task yourself. Whether considering selling your Lincoln, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Documentation

This is an important initial step to take when you start the process of selling your Lincoln, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of a few standard documents you may need to have prepared:

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

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

It's probably best not to reveal all these documents to a potrntial buyer right away. However, you should have them at hand because you will certainly require them during the sales process.

In addition, putting together these documents lets you see your Lincoln, California restaurant through the lens of a buyer. It gives you a clear picture of the Lincoln, California restaurant you are selling. Furthermore, it allows you to identify whether there are any loopholes you will have to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Lincoln, California restaurant. This is why you should make an effort to make these documents complete and well organized.

Showing your financial documents to prospective buyers may help clear any doubt they may have concerning your Lincoln, California restaurant.

The financial documents may include:

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

Also, ensure you have soft copies of all of the documents. This may make it easier for you to transmit the information to potential buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later discovers these liabilities post completing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Lincoln, California restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Lincoln, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this will help them evaluate the value of your Lincoln, California restaurant.

This will be 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 Lincoln, California restaurant.

The average time it takes to sell a Lincoln, California restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and reduce several costs, and therefore increase the value of your Lincoln, California restaurant.

Also, 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 will help you in coming up with the overall value of your Lincoln, California restaurant. When you understand the overall value this could help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Lincoln, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the general curb appeal of your Lincoln, California restaurant does not appeal to buyers, they might take a pass right off the bat.

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

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

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

Non-functional equipment may rouse doubt about your financial capabilities and output capabilities. It can even lower the morale of your employees, and in response, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Lincoln Buyers

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

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

#8 Be Ready

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

You'll never know when a buyer will visit your Lincoln, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.

#9 Sell Your Lincoln, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The documentation will likely begin with the Asset Purchase Agreement.

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

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

Choosing a Lincoln, California Restaurant Broker

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

The fact remains, if you're looking to get the most out of the business deal, you need some level of experience to stand out against the competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Lincoln, California restaurant broker comes in. A Lincoln, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Lincoln, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Lincoln, California Restaurant Broker

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

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

Lincoln Zip Codes We Support: 95648, 95650