Ready to Sell Your Lodi, California Restaurant?

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

Considering opening a different Lodi, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Lodi, California restaurant can be way more difficult than you might realize. Thats because it takes careful preparation and a solid strategy to successfully exit with enough money for all the time you’ve put into it.

Necessary Actions to Consider when Selling Your Restaurant

You may either decide to contract with a Lodi, California restaurant broker to help you in selling your Lodi, California restaurant or do the task on your own. Whether considering selling your Lodi, 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 Documentation

This is an important preparatory step to make when you start the process of marketing your Lodi, California restaurant.

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

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

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

It's probably best not to show all these documents to a prospective buyer day one. But, you should have them ready because you will eventually need them during the sales process.

Also, compiling these documents lets you see your Lodi, California restaurant through the lens of a buyer. It gives you a clear image of the Lodi, California restaurant you are offering for sale. Furthermore, it allows you to show whether there are any concerns you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important part of selling your Lodi, California restaurant. That’s why you should strive to make these documents complete and well organized.

Offering your financial records to prospective buyers could aid clear any doubt they may have concerning your Lodi, California restaurant.

Your financial records could 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 documents. This will make it easier for you to send the documentation to prospective buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items may create legal issues for you if a buyer later discovers these liabilities post completing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Lodi, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Lodi, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow starting to sell your Lodi, California restaurant.

The average time it may take to sell a Lodi, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and reduce several costs, and thus increase the value of your Lodi, 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 could assist you in deriving the probable value of your Lodi, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Lodi, California restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general aesthetic of your Lodi, California restaurant does not look good to buyers, they might pass over without a second look.

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

Clean windows, polished door handles and a neat floor are also easy things that would help create a memorable first impression.

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

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

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Lodi, California restaurant.

#7 look for Lodi Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Lodi, California restaurant broker to help. A professional Lodi, California restaurant broker will have recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create appropriate advertising. You can show your Lodi, California restaurant on listing websites and let your family and friends know about your intentions to sell your Lodi, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Lodi, California restaurant yourself, or through a Lodi, California restaurant broker, you need to always be prepared. Be prepared to show your Lodi, California restaurant to prospective buyers at all times.

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

#9 Sell Your Lodi, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the contract. The paperwork will likely begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Lodi, California Restaurant Broker

While trying to sell your Lodi, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

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

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

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

Contact a Lodi, California Restaurant Broker

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

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

Lodi Zip Codes We Support: 95240, 95241, 95242