Right Time to Sell Your Maywood, California Restaurant?

Following years of sweat equity, you have made the decision sell your Maywood, California restaurant

Considering starting a new eatery, moving, or maybe slowing down. No matter the reason, selling your Maywood, California restaurant can be a lot more difficult than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you’ve put into it.

Important 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 Maywood, California restaurant or take on the task yourself. If you are considering selling your Maywood, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather all Business Documentation

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

The required documents may vary from state to state--even in California, but the following is a list of a few general documents you may be requierd to have on you:

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

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

You certainly do not want to reveal the majority of these documents to a possible buyer day one. However, you may want to have them ready because you will certainly need them during the sales process.

In addition, putting together these documents lets you see your Maywood, California restaurant through the lens of a buyer. It gives you a clear image of the Maywood, California restaurant you are offering for sale. In addition, it allows you to show whether there are any concerns you will need to address.

#2 Put Your Financials in Order

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

Offering your financial documents to potential buyers may aid clear any doubt they might have concerning your Maywood, California restaurant.

Your financial records may include:

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

In addition, make sure you have soft copies of all of the records. This may make it easier for you to send the records to potential buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Put Together the Details of Your Commercial Lease

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

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Maywood, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this will help them evaluate the value of the Maywood, California restaurant.

This will be in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow before trying to sell your Maywood, California restaurant.

The estimated time it takes to sell a Maywood, California restaurant is six months. Within the six months, there is a lot you can do to strengthen your profit and cut various costs, and therefore strengthen the worth of your Maywood, California restaurant.

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

This will assist you in coming up with the overall worth of your Maywood, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Maywood, California restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the general appearance of your Maywood, California restaurant does not appeal to buyers, they likely take a pass right off the bat.

To avoid this from happening, all things in and out of your Maywood, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create appeal for potential buyers.

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

Additionally, you should ensure that all your equipment is in top condition. If your equipment is not working, it could convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and output capabilities. It can even lower the excitment of your employees, 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 concerning buying your Maywood, California restaurant.

#7 Search for Maywood Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Maywood, California restaurant broker to help. A professional Maywood, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this project yourself, you will need to create appropriate advertising. You can show your Maywood, California restaurant on listing websites and tell family and friends about your intentions to market for sale your Maywood, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Maywood, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

This agreement includes details including the selling price of your Maywood, California restaurant, assets and equipment as well as inventory value.

Choosing a Maywood, California Restaurant Broker

While trying to sell your Maywood, California restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to achieve the most out of the business deal, you need a higher level of expertise to stand out against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Maywood, California restaurant broker is needed. A Maywood, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Maywood, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Maywood, California Restaurant Broker

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

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

Maywood Zip Codes We Support: 90270