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Considering starting a different eatery, moving, or even retiring. Regardless of the reason, selling your Madera, California restaurant can be a lot more complicated than you might think. 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.
You can either make the decision to hire a Madera, California restaurant broker to help you in selling your Madera, California restaurant or take on the task yourself. If you are considering selling your Madera, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.
This is a necessary first step to make when you commence the process of offering your Madera, 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 ready:
Corbett Restaurant Group comes with expertise to assist you in the sale of your Madera, California restaurant. Call today for a no strings attached business review at (888) 266-5182.
It's probably best not to reveal all these documents to a prospective buyer first day. But, you may want to have them at hand because you will certainly need them during the sales process.
In addition, putting together these documents lets you see your Madera, California restaurant through the lens of a buyer. It provides you a clear picture of the Madera, California restaurant you're selling. In addition, it allows you to show if there are any loopholes you will have to address.
Your financial records are a crucial part of selling your Madera, California restaurant. That’s the reason you should make an effort to have these documents complete and well organized.
Showing your financial records to potential buyers may aid clear any doubt they might have concerning your Madera, California restaurant.
Your financial documents may include:
In addition, make sure you have hard copies of all of the documents. This can make it easier for you to send the records to potential buyers.
Also, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items may create legal issues for you if a buyer later on discovers these ommissions after signing the deal.
In the process of preparing to sell your Madera, California restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders 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 Madera, California restaurant and to potentially extend your lease.
Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the true value of your Madera, California restaurant.
It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow before trying to sell your Madera, California restaurant.
The average time it may take to sell a Madera, California restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and therefore strengthen the value of your Madera, 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 will aid you in deriving the overall value of your Madera, California restaurant. If you understand the overall worth this may help you settle on a selling price.
The appearance of your Madera, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general aesthetic of your Madera, California restaurant does not look good to buyers, they might pass over without consideration.
To prevent this from happening, all things in and out of your Madera, California restaurant must be cleaned and maintained. Landscaping and a clean parking area can help create appeal for potential buyers.
Spot-free windows, polished handles and a presentable floor are other small items that can help create a memorable first impression.
Additionally, you should make sure all the equipment is in top condition. If your equipment is not functioning, it could send the message that you're in a hurry to pass a bad deal to the buyer.
Faulty equipment could raise doubt about your financial status and output capabilities. It can even lower the morale of your staff, and in response, negatively affect your output and effect your profit and loss statement.
You should appear credible in order to build the confidence of potential buyers regarding buying your Madera, California restaurant.
Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Madera, California restaurant broker to help. A professional Madera, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this task alone, you will need to create appropriate advertising. You can list your Madera, California restaurant on business websites and tell family and friends about your intentions to sell your Madera, California restaurant.
As you will probably come across competition when trying to sell your Madera, California restaurant, you need your restaurant to stand out.
If you decide to sell your Madera, California restaurant yourself, or with a a Madera, California restaurant broker, you should always be ready. Be prepared to show your Madera, California restaurant to prospective buyers at all times.
You'll never know when a buyer could visit your Madera, California restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.
This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the deal. The documentation will usually begin with the Asset Purchase Agreement.
You should have your attorney’s help in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.
This document includes details such as the selling price of your Madera, California restaurant, items and equipment and inventory value.
Although attempting to sell your Madera, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first-timers.
The fact remains, in order for you to get the most out of the business deal, you need a higher level of experience to stand out against the cometitors while trying to find buyers.
Experience is also vital during negotiations with prospective buyers. This is where an experienced Madera, California restaurant broker is recommended. A Madera, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Madera, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.
With the help of a Madera, California restaurant broker, you can focus your undivided attention on operating your Madera, California restaurant and rest assured with the knowledge that a professional is in charge of selling your Madera, California restaurant.
Deciding to sell your Madera, California restaurant through a Madera, California restaurant broker has many advantages. First, however, you need to select the best Madera, California restaurant broker to help you in selling your Madera, California restaurant.
At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Madera, California restaurant. And, we work harder than any other Madera 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 Madera, California restaurant for a great price.
Madera Zip Codes We Support: 93637, 93638, 93639
We've been in business for over 15 years and its because of the hard work and loyalty of our Brokers and staff. When you partner with us, you'll receive the absolutely best service the industry has to offer.