Right Time to Sell Your Los Banos, California Restaurant?

Following years of hard work, you have made the decision sell your Los Banos, California restaurant

Considering starting a new Los Banos, California restaurant, relocating, or maybe slowing down. Regardless of the reason, selling a Los Banos, California restaurant can be a lot more difficult than you might realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the time you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Put Together any Business Documentation

This is an important preparatory step to make when you commence the process of selling your Los Banos, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of some generalized documents you may need to have at hand:

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

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

It's probably smart not to reveal all these documents to a possible buyer right away. But, you should have them at hand because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Los Banos, California restaurant through the lens of a buyer. It provides you a clear picture of the Los Banos, California restaurant you're offering for sale. In addition, it helps you show if there are any concerns you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Los Banos, California restaurant. This is why you should make an effort to have your documents complete and organized.

Offering your financial documents to prospective buyers could assist to clear any doubt they may have regarding your Los Banos, California restaurant.

The financial documents can include:

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

In addition, ensure you have duplicate copies of all of the records. This could make it easier for you to transmit the information to possible buyers.

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

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Los Banos, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Los Banos, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of your Los Banos, California restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow planning to sell your Los Banos, California restaurant.

The average time it may take to sell a Los Banos, California restaurant is six months. Within those six months, there are several things you can do in order to strengthen your profit and reduce several costs, and therefore strengthen the worth of your Los Banos, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This may aid you in coming up with the probable value of your Los Banos, California restaurant. When you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Los Banos, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Los Banos, California restaurant does not look good to buyers, they might take a pass without a second look.

To prevent this from happening, everything in and out of your Los Banos, California restaurant must be clean. Landscaping and a clean parking lot could help create appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also simple items that could help create a unforgettable first impression.

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

Faulty equipment can raise doubt about your financial capabilities and output abilities. It may even lower the mood of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning purchasing your Los Banos, California restaurant.

#7 Search for Los Banos Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Los Banos, California restaurant broker to help. A professional Los Banos, California restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this task alone, you will need to create appropriate advertising. You can market your Los Banos, California restaurant on listing websites and let your family and friends know about your intentions to sell your Los Banos, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer will walk into your Los Banos, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Los Banos, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Los Banos, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most out of the business transaction, you need a higher level of experience in order to stand above and against the competition while trying to find buyers.

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

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

Contact a Los Banos, California Restaurant Broker

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

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

Los Banos Zip Codes We Support: 93635