Are You Ready to Sell Your Livermore, California Restaurant?

Following years of labor, you have decided to sell your Livermore, California restaurant

Contemplating opening a different Livermore, California restaurant, moving, or maybe retiring. Regardless of the reason, selling a Livermore, California restaurant can be way more difficult than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the labor you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

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

#1 Gather any Important Paperwork

This is a necessary preparatory step to make when you start the process of offering your Livermore, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of a few general 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 expertise to assist you in the market for sale of your Livermore, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to show all these documents to a possible buyer first day. However, you should have them ready because you will certainly require them during the sales process.

In addition, putting together these documents allows you to view your Livermore, California restaurant through the lens of a buyer. This gives you a clear picture of the Livermore, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any concerns you will need to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial detail of selling your Livermore, California restaurant. This is the reason you should strive to make these documents complete and organized.

Showing your financial records to prospective buyers may aid clear any doubt they might have regarding your Livermore, California restaurant.

The financial records can include:

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

Also, make sure you have duplicate copies of all of these records. This could make it easier for you to send the information to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions post signing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Livermore, 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 sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the value of the Livermore, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Livermore, California restaurant.

The estimated time it may take to sell a Livermore, California restaurant is six months. Within the six months, there is a lot you can do to increase your profit and reduce various costs, and therefore increase the worth of your Livermore, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This could aid you in estimating the overall value of your Livermore, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

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

To prevent this from happening, all things in and out of your Livermore, California restaurant must be clean. Landscaped and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished handles and a presentable floor are also easy things that can help create a memorable first impression.

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

Faulty equipment could raise doubt about your financial capabilities and production abilities. It could even lower the excitment of your staff, and 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 regarding purchasing your Livermore, California restaurant.

#7 look for Livermore Buyers

Looking 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 Livermore, California restaurant broker to help. The professional Livermore, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to take on this task alone, you will need to carry out proper advertising. You can market your Livermore, California restaurant on listing websites and tell family and friends about your intentions to market for sale your Livermore, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Livermore, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The paperwork often 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 aspect of the transaction.

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

Choosing a Livermore, California Restaurant Broker

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

It's true, in order for you to achieve the most from of the business transaction, you need a higher level of experience in order to stand above and against the cometitors while trying to attract buyers.

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

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

Contact a Livermore, California Restaurant Broker

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

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

Livermore Zip Codes We Support: 94550, 94551, 94588