Decided to Sell Your Los Gatos, California Restaurant?

After years of hard work, you have decided to sell your Los Gatos, California restaurant

Considering opening a new eatery, moving, or even retiring. No matter the reason, selling your Los Gatos, California restaurant can be way more complicated than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough profit for all the time you may have put into it.

Important Steps to Take when Selling Your Restaurant

You can either decide to hire a eatery broker to guide you in selling your Los Gatos, California restaurant or do the task on your own. If you are considering selling your Los Gatos, 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 Gatos, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of some standard documents you may be requierd to have at hand:

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

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

You certainly do not want to reveal all these documents to a potrntial buyer day one. However, you may want to have them at hand because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Los Gatos, California restaurant through the lens of a buyer. It provides you a clear picture of the Los Gatos, California restaurant you are selling. In addition, it helps you show whether there are any loopholes you will need to take care of.

#2 Get Your Financial Documents in Order

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

Offering your financial records to possible buyers may help clear any hesitations they might have concerning your Los Gatos, California restaurant.

These financial records 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 documentation to possible buyers.

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

#3 Put Together the Details of Your Commercial Lease

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

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Los Gatos, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps them evaluate the value of your Los Gatos, California restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow before trying to sell your Los Gatos, California restaurant.

The average time it takes to sell a Los Gatos, California restaurant is six months. Within those six months, there is a lot you can do in order to increase your profit and cut several costs, and thus strengthen the value of your Los Gatos, California restaurant.

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

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

#5 Make Your Restaurant Look Better

The first impression of your Los Gatos, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the overall look of your Los Gatos, California restaurant does not appeal to buyers, they might pass over without consideration.

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

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

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

Non-functional equipment can raise doubt about your financial status and production capabilities. It may even dampen the morale of your staff, which 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 concerning buying your Los Gatos, California restaurant.

#7 look for Los Gatos Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced Los Gatos, California restaurant broker to help. The professional Los Gatos, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this task alone, you will need to create proper advertising. You can market your Los Gatos, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Los Gatos, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Los Gatos, California Restaurant

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

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

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

Choosing a Los Gatos, California Restaurant Broker

While trying to sell your Los Gatos, California restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business transaction, you need some level of experience to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Los Gatos, California restaurant broker is needed. A Los Gatos, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Los Gatos, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Los Gatos, California Restaurant Broker

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

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

Los Gatos Zip Codes We Support: 95030, 95032, 95033, 95036