Are You Ready to Sell Your Manhattan Beach, California Restaurant?

After years of hard work, you have decided to sell your Manhattan Beach, California restaurant

Considering opening a new eatery, moving, or even retiring. No matter the reason, selling a Manhattan Beach, California restaurant can be way more complicated than you may realize. Thats because it takes careful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You may either make the decision to hire a eatery broker to assist you in selling your Manhattan Beach, California restaurant or take on the task yourself. Whether considering selling your Manhattan Beach, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together the Business Paperwork

This is an important initial step to make when you commence the process of marketing your Manhattan Beach, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of some general documents you may be requierd to have ready:

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

Corbett Restaurant Group has the expertise to assist you in the sale of your Manhattan Beach, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a potrntial buyer first day. But, you may want to have them on hand because you will eventually need them during the sales process.

Also, compiling these documents lets you view your Manhattan Beach, California restaurant through the lens of a buyer. It gives you a clear picture of the Manhattan Beach, California restaurant you're offering for sale. In addition, it helps you identify whether there are any areas you will have to take care of.

#2 Get Your Financial Records in Order

Your financial records are an important detail of selling your Manhattan Beach, California restaurant. That’s why you should make an effort to make your documents complete and well organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they might have regarding your Manhattan Beach, California restaurant.

These financial documents can 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 could make it easier for you to send the information to possible buyers.

Also, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later discovers these liabilities after sealing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Manhattan Beach, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Manhattan Beach, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this helps them estimate the value of the Manhattan Beach, California restaurant.

It is therefore 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 Manhattan Beach, California restaurant.

The estimated time it takes to sell a Manhattan Beach, California restaurant is six months. Within those six months, there is a lot you can do to increase your profit and reduce several costs, and thus increase the value of your Manhattan Beach, California restaurant.

In addition, 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 will assist you in estimating the probable value of your Manhattan Beach, California restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Manhattan Beach, California restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the general appearance of your Manhattan Beach, California restaurant does not look good to buyers, they might take a pass immediately.

To avoid this from happening, everything in and out of your Manhattan Beach, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create appeal for potential buyers.

Spot-free windows, polished handles and a clean floor are also easy things that can help create a unforgettable initial impression.

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

Non-functional equipment can raise doubt about your financial capabilities and production abilities. It can even dampen the morale of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Manhattan Beach, California restaurant.

#7 Search for Manhattan Beach Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire a professional Manhattan Beach, California restaurant broker to help. A professional Manhattan Beach, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project by yourself, you will need to carry out proper advertising. You can list your Manhattan Beach, California restaurant on listing websites and tell family and friends about your plans to market for sale your Manhattan Beach, California restaurant.

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

#8 Be Ready

If you decide to sell your Manhattan Beach, California restaurant yourself, or through a Manhattan Beach, California restaurant broker, you need to always be ready. Be prepared to show your Manhattan Beach, California restaurant to prospective buyers at all times.

You will never know when a buyer could visit your Manhattan Beach, California restaurant. Some buyers may even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Manhattan Beach, California Restaurant

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

You may need your attorney’s assistance in creating this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Manhattan Beach, California Restaurant Broker

Although attempting to sell your Manhattan Beach, 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 some level of expertise to stand above and against your competition while trying to attract buyers.

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

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

Contact a Manhattan Beach, California Restaurant Broker

Choosing to sell your Manhattan Beach, California restaurant through a Manhattan Beach, California restaurant broker has many advantages. First, however, you need to select the best Manhattan Beach, California restaurant broker to assist you in selling your Manhattan Beach, California restaurant.

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

Manhattan Beach Zip Codes We Support: 90266