Time to Sell Your Montclair, California Restaurant?

After years of labor, you have decided to sell your Montclair, California restaurant

Contemplating starting a different eatery, moving, or maybe slowing down. Regardless of the reason, selling a Montclair, California restaurant can be way more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the sweat you may have put into it.

Important Steps to Consider when Selling Your Restaurant

You may either think to hire a Montclair, California restaurant broker to assist you in selling your Montclair, California restaurant or take on the task yourself. If you are considering selling your Montclair, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together all Business Documentation

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

The necessary paperwork may vary from state to state--even in California, but below is a list of a few general documents you may find helpful to have at hand:

• 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 experience to help you in the sale of your Montclair, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a potrntial buyer right away. However, you should have them on hand because you will certainly need them during the sales process.

Also, putting together these documents allows you to view your Montclair, California restaurant through the lens of a buyer. This gives you a clear image of the Montclair, California restaurant you are offering for sale. Furthermore, it helps you identify if there are any concerns you will need to take care of.

#2 Put Your Financial Documents in Order

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

Offering your financial records to possible buyers may help clear any hesitations they may have regarding your Montclair, California restaurant.

These financial documents 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 these documents. This could make it easier for you to transmit the records to possible buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things could create legal issues for you if a buyer later on discovers these ommissions after closing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Montclair, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Montclair, 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 financials, whether favorable or not, this will help them estimate the true value of your Montclair, California restaurant.

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

The estimated time it takes to sell a Montclair, California restaurant is 6 months. Within those six months, there is a lot you can do in order to strengthen your profit and reduce various costs, and therefore strengthen the worth of your Montclair, California restaurant.

In addition, with regards 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 estimating the overall value of your Montclair, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Montclair, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the overall appearance of your Montclair, California restaurant does not appeal to buyers, they might take a pass immediately.

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

Clean windows, polished handles and a neat floor are also simple items that can help create a great initial impression.

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

Non-functional equipment can raise doubt about your financial status and output abilities. It may even lower the morale of your staff, which in turn, 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 Montclair, California restaurant.

#7 look for Montclair Buyers

Looking for potential buyers is time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire a professional Montclair, California restaurant broker to help. A professional Montclair, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this task by yourself, you will need to carry out proper advertising. You can show your Montclair, California restaurant on business websites and let your family and friends know about your plans to sell your Montclair, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Montclair, California restaurant. Some buyers may even come in as customers just to perform some research before contacting you.

#9 Sell Your Montclair, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The documentation will likely begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details including the selling price of your Montclair, California restaurant, items and equipment and inventory value.

Choosing a Montclair, California Restaurant Broker

Although trying to sell your Montclair, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

It's true, in order for you to get the most out of the business deal, you need some level of expertise to stand above and against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Montclair, California restaurant broker is recommended. A Montclair, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Montclair, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Montclair, California Restaurant Broker

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

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

Montclair Zip Codes We Support: 91762, 91763