Time to Sell Your Montebello, California Restaurant?

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

Considering opening a different eatery, relocating, or even retiring. No matter the reason, selling a Montebello, California restaurant can be way more challenging than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your Montebello, California restaurant or take on the task yourself. Whether considering selling your Montebello, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Important Documentation

This is an important first step to make when you begin the process of offering your Montebello, 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:

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

Corbett Restaurant Group comes with expertise to assist you in the market for sale of your Montebello, California restaurant. Call today for a no-obligation business review 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.

In addition, putting together these documents lets you see your Montebello, California restaurant through the lens of a buyer. It provides you a clear picture of the Montebello, California restaurant you're selling. Furthermore, it allows you to identify whether there are any concerns you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important aspect of selling your Montebello, California restaurant. This is the reason you should make an effort to make your documents complete and organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they may have concerning your Montebello, California restaurant.

The financial records may include:

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

In addition, make sure you have soft copies of all of the records. This can make it easier for you to transmit the documentation to possible buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Montebello, California restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an in-depth analysis of your financial records, whether favorable or not, this will help them evaluate the value of the Montebello, California restaurant.

This will be 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 Montebello, California restaurant.

The estimated time it takes to sell a Montebello, California restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and reduce various costs, and thus strengthen the value of your Montebello, California restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This will aid you in coming up with the probable worth of your Montebello, California restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Montebello, California restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Montebello, California restaurant does not look good to buyers, they likely take a pass immediately.

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

Spot-free windows, polished handles and a clean floor are other easy items that can help create a memorable initial impression.

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

Non-functional equipment also raises 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 concerning buying your Montebello, California restaurant.

#7 Search for Montebello Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced Montebello, California restaurant broker to help. A professional Montebello, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this task alone, you will need to create proper advertising. You can market your Montebello, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Montebello, California restaurant.

As you will probably come across competition when trying to sell your Montebello, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

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

You will never know when a buyer could visit your Montebello, California restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your Montebello, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Montebello, California Restaurant Broker

While trying to sell your Montebello, California restaurant on your own can be an exciting project, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most from of the business deal, you need some level of experience to stand above and against the cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Montebello, California restaurant broker is needed. A Montebello, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Montebello, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

With the help of a Montebello, California restaurant broker, you can maintain your undivided attention on operating your Montebello, California restaurant and rest easy knowing that a professional is in charge of selling your Montebello, California restaurant.

Contact a Montebello, California Restaurant Broker

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

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

Montebello Zip Codes We Support: 90640