Are You Ready to Sell Your Merced, California Restaurant?

After years of hard work, you have made the decision sell your Merced, California restaurant

Contemplating starting a different Merced, California restaurant, relocating, or even slowing down. No matter the reason, selling your Merced, California restaurant can be a lot more challenging than you may think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you may have put into it.

Important Actions to Take when Selling Your Restaurant

You can either decide to contract with a eatery broker to assist you in selling your Merced, California restaurant or do the task yourself. Whether considering selling your Merced, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Business Documentation

This is a necessary preparatory step to take when you begin the process of selling your Merced, California restaurant.

The necessary documents 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 document
• 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 sale of your Merced, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to show the majority of these documents to a prospective buyer day one. But, you may want to have them on hand because you will eventually require them during the sales process.

Also, compiling these documents lets you view your Merced, California restaurant through the lens of a buyer. It provides you a clear picture of the Merced, California restaurant you're selling. In addition, it helps you show if there are any concerns you'll have to address.

#2 Get Your Financials in Order

Your financial documents are an important aspect of selling your Merced, California restaurant. That’s the reason you should strive to have your documents complete and well organized.

Showing your financial documents to potential buyers could help clear any doubt they may have concerning your Merced, California restaurant.

The financial records could include:

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

Also, ensure you have duplicate copies of all of these records. This can make it easier for you to send the information to prospective buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items may create legal problems for you if a buyer later discovers these ommissions after sealing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Merced, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Merced, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

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

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

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

Also, 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 may assist you in coming up with the overall value of your Merced, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Merced, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your Merced, California restaurant does not look good to buyers, they might pass over without consideration.

To prevent this from happening, everything in and out of your Merced, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are also simple items that would help create a memorable initial impression.

Additionally, you should ensure all your equipment is in satisfactory condition. If your equipment is not functioning, it can convey 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 status and production capabilities. It may even dampen the morale of your employees, and in response, 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 Merced, California restaurant.

#7 Search for Merced Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Merced, California restaurant broker to help. The professional Merced, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out appropriate advertising. You can market your Merced, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Merced, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Merced, California restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Merced, California Restaurant

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

You may need your attorney’s expertise in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Merced, California Restaurant Broker

While attempting to sell your Merced, California restaurant on your own can be an exhilarating endeavor, 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 expertise to stand out against the cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Merced, California restaurant broker is recommended. A Merced, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Merced, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Merced, California Restaurant Broker

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

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

Merced Zip Codes We Support: 95340, 95341, 95343, 95348