Time to Sell Your Menlo Park, California Restaurant?

After years of hard work, you have decided to sell your Menlo Park, California restaurant

Considering opening a different Menlo Park, California restaurant, moving, or even slowing down. No matter the reason, selling your Menlo Park, California restaurant can be a lot more complicated than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you’ve put into it.

Necessary Actions to Consider when Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your Menlo Park, California restaurant or do the task on your own. Whether considering selling your Menlo Park, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Necessary Documentation

This is an important preparatory step to take when you start the process of offering your Menlo Park, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some generalized documents you may need to have on you:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Menlo Park, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show all these documents to a prospective buyer right away. But, you should have them ready because you will eventually require them during the sales process.

Also, putting together these documents lets you view your Menlo Park, California restaurant through the lens of a buyer. It gives you a clear picture of the Menlo Park, California restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any areas you'll need to take care of.

#2 Get Your Financials in Order

Your financial documents are a crucial aspect of selling your Menlo Park, California restaurant. That’s the reason you should make it a priority to make your documents accurate and well organized.

Showing your financial records to possible buyers may assist to clear any hesitations they might have concerning your Menlo Park, California restaurant.

The financial records can include:

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

Also, ensure you have hard copies of all of these documents. This may make it easier for you to send the records to prospective buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these things could create legal problems for you if a buyer later on discovers these liabilities post signing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Menlo Park, California restaurant, you need to review of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing 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 Menlo Park, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

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

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow starting to sell your Menlo Park, California restaurant.

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

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may aid you in deriving the overall worth of your Menlo Park, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Menlo Park, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Menlo Park, California restaurant does not appeal to buyers, they likely pass over without a second look.

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

Spot-free windows, polished handles and a clean floor are also small things that could help create a unforgettable first impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it might convey 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 production 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 Menlo Park, California restaurant.

#7 Search for Menlo Park Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Menlo Park, California restaurant broker to help. The professional Menlo Park, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this project yourself, you will need to create appropriate advertising. You can show your Menlo Park, California restaurant on business websites and tell family and friends about your intentions to market for sale your Menlo Park, California restaurant.

As you will probably run across competition when trying to sell your Menlo Park, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

You will never know when a buyer could walk into your Menlo Park, California restaurant. Some buyers may even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Menlo Park, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the contract. The paperwork often 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 detail of the deal.

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

Choosing a Menlo Park, California Restaurant Broker

While attempting to sell your Menlo Park, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

It's true, in order for you to get the most from of the business transaction, you need a higher level of expertise to stand above and against the competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Menlo Park, California restaurant broker is needed. A Menlo Park, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Menlo Park, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Menlo Park, California Restaurant Broker

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

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

Menlo Park Zip Codes We Support: 94025, 94027