Time to Sell Your Menifee, California Restaurant?

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

Considering opening a new Menifee, California restaurant, moving, or even slowing down. No matter the reason, selling a Menifee, California restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid game plan to successfully walk away with enough profit for all the time you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either decide to hire a eatery broker to help you in selling your Menifee, California restaurant or take on the task on your own. If you are considering selling your Menifee, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Necessary Paperwork

This is an important initial step to make when you start the process of selling your Menifee, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of some generalized documents you may need to have prepared:

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your Menifee, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer right away. But, you may want to have them at hand because you will certainly require them during the sales process.

Also, compiling these documents lets you view your Menifee, California restaurant through the lens of a buyer. It provides you a clear image of the Menifee, California restaurant you are selling. In addition, it helps you show if there are any areas you'll need to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial aspect of selling your Menifee, California restaurant. That’s the reason you should strive to have these documents accurate and well organized.

Showing your financial documents to potential buyers could aid clear any hesitations they might have regarding your Menifee, California restaurant.

Your financial records may include:

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

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

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

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Menifee, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the value of your Menifee, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Menifee, California restaurant.

The estimated time it may take to sell a Menifee, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and cut several costs, and thus increase the worth of your Menifee, 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 value your assets.

This could aid you in estimating the probable value of your Menifee, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Menifee, California restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Menifee, California restaurant does not appeal to buyers, they might take a pass without consideration.

To prevent this from happening, everything in and out of your Menifee, California restaurant must be clean. Landscaping and a clean parking area can help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are also simple things that can help create a great first impression.

Additionally, you should ensure that all the equipment is in satisfactory condition. If your equipment is not functioning, it could send the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial situation and production abilities. It may even dampen the mood 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 Menifee, California restaurant.

#7 Search for Menifee Buyers

Marketing to prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire a professional Menifee, California restaurant broker to help. A professional Menifee, California restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out proper advertising. You can list your Menifee, California restaurant on business websites and let your family and friends know about your plans to sell your Menifee, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Menifee, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the transaction. The paperwork will usually start with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

This document includes details such as the selling price of your Menifee, California restaurant, assets and equipment and inventory value.

Choosing a Menifee, California Restaurant Broker

Although attempting to sell your Menifee, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most out of the business deal, you need a higher level of experience to stand above and against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Menifee, California restaurant broker comes in. A Menifee, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Menifee, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Menifee, California Restaurant Broker

Choosing to sell your Menifee, California restaurant through a Menifee, California restaurant broker has multiple advantages. First, however, you need to select the best Menifee, California restaurant broker to help you in selling your Menifee, California restaurant.

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

Menifee Zip Codes We Support: 92532, 92564, 92584, 92585, 92586, 92587, 92596