Decided to Sell Your Marina, California Restaurant?

Following years of hard work, you have decided to sell your Marina, California restaurant

Contemplating starting a new eatery, moving, or even retiring. No matter the reason, selling your Marina, California restaurant can be way more challenging than you may realize. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Marina, California restaurant or take on the task yourself. If you are considering selling your Marina, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Business Documentation

This is a necessary first step to make when you commence the process of marketing your Marina, California restaurant.

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

• A list of your assets
• Lease contract
• 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 has the experience to help you in the market for sale of your Marina, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a prospective buyer first day. But, you may want to have them at hand because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Marina, California restaurant through the lens of a buyer. It provides you a clear image of the Marina, California restaurant you are offering for sale. Furthermore, it helps you show whether there are any concerns you'll need to address.

#2 Put Your Financials in Order

Your financial records are a crucial part of selling your Marina, California restaurant. That’s the reason you should strive to make these documents complete and well organized.

Showing your financial documents to prospective buyers may assist to clear any hesitations they might have regarding your Marina, California restaurant.

Your financial documents can include:

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

In addition, ensure you have hard copies of all of the records. This could make it easier for you to send the records to potential buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later discovers these liabilities after sealing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Marina, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from closing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps them estimate the true value of your Marina, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow starting to sell your Marina, California restaurant.

The average time it may take to sell a Marina, California restaurant is six months. Within the six months, there is a lot you can do to increase your profit and slash several costs, and thus strengthen the worth of your Marina, California restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may help you in coming up with the probable worth of your Marina, California restaurant. If you understand the overall value this may help you settle on a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Marina, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the general aesthetic of your Marina, California restaurant does not appeal to buyers, they could pass over without a second look.

To avoid this from happening, everything in and out of your Marina, California restaurant must be clean. Manicured and a clean parking lot could help create appeal for potential buyers.

Spot-free windows, polished door handles and a presentable floor are other small items that can help create a memorable initial impression.

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

Non-functional equipment also raises doubt about your financial capabilities and output capabilities. It can even lower 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 prospective buyers regarding buying your Marina, California restaurant.

#7 look for Marina Buyers

Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire an experienced Marina, California restaurant broker to help. A professional Marina, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project yourself, you will need to carry out proper advertising. You can offer your Marina, California restaurant on listing websites and tell family and friends about your plans to market for sale your Marina, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could walk into your Marina, California restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Marina, California Restaurant

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

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

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

Choosing a Marina, California Restaurant Broker

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

The fact remains, if you're looking to get the most out of the business deal, you need some level of expertise to stand out against the competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Marina, California restaurant broker is needed. A Marina, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Marina, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the assistance of a Marina, California restaurant broker, you can focus your undivided attention on operating your Marina, California restaurant and rest easy knowing that a professional is in charge of selling your Marina, California restaurant.

Contact a Marina, California Restaurant Broker

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

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

Marina Zip Codes We Support: 93933, 93955