Right Time to Sell Your Mission Viejo, California Restaurant?

After years of sweat equity, you have decided to sell your Mission Viejo, California restaurant

Considering opening a different Mission Viejo, California restaurant, relocating, or maybe slowing down. No matter the reason, selling your Mission Viejo, California restaurant can be a lot more complicated than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough proceeds for all the sweat you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either decide to contract with a eatery broker to guide you in selling your Mission Viejo, California restaurant or take on the task yourself. If you are considering selling your Mission Viejo, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Documentation

This is a necessary first step to make when you start the process of offering your Mission Viejo, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of a few standard documents you may be requierd 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 assist you in the sale of your Mission Viejo, 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 first day. However, you should have them at hand because you will eventually need them during the sales process.

Also, compiling these documents lets you see your Mission Viejo, California restaurant through the lens of a buyer. It provides you a clear picture of the Mission Viejo, California restaurant you are offering for sale. Furthermore, it allows you to identify if there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are an important part of selling your Mission Viejo, California restaurant. This is why you should make it a priority to have your documents accurate and organized.

Showing your financial documents to possible buyers could help clear any doubt they might have regarding your Mission Viejo, California restaurant.

The financial documents may include:

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

Also, ensure you have soft copies of all of the documents. This can make it easier for you to transmit the records to possible buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these ommissions after closing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Mission Viejo, California restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this will help them estimate the true value of the Mission Viejo, California restaurant.

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

The average time it may take to sell a Mission Viejo, California restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and reduce several costs, and therefore strengthen the value of your Mission Viejo, 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 estimate your assets.

This may aid you in coming up with the overall worth of your Mission Viejo, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Mission Viejo, California restaurant will go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Mission Viejo, California restaurant does not look good to buyers, they could take a pass without consideration.

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

Clean windows, polished handles and a presentable floor are also small items that could help create a memorable first impression.

Furthermore, you should make sure 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.

Non-functional equipment may rouse doubt about your financial situation and production capabilities. It could even dampen the excitment of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Mission Viejo, California restaurant.

#7 Search for Mission Viejo Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Mission Viejo, California restaurant broker to help. A professional Mission Viejo, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this task by yourself, you will need to carry out appropriate advertising. You can market your Mission Viejo, California restaurant on listing websites and tell family and friends about your plans to sell your Mission Viejo, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Mission Viejo, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the transaction. The paperwork will usually 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 transaction.

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

Choosing a Mission Viejo, California Restaurant Broker

Although attempting to sell your Mission Viejo, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most out of the business deal, you need a higher level of experience to stand above and against the competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Mission Viejo, California restaurant broker is recommended. A Mission Viejo, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Mission Viejo, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Mission Viejo, California Restaurant Broker

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

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

Mission Viejo Zip Codes We Support: 92653, 92675, 92677, 92679, 92690, 92691, 92692, 92694