Right Time to Sell Your Moorpark, California Restaurant?

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

Considering starting a new Moorpark, California restaurant, moving, or maybe retiring. Regardless of the reason, selling your Moorpark, California restaurant can be way more complicated than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the time you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

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

#1 Put Together all Necessary Paperwork

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

The required paperwork may vary from state to state--even in California, but below is a list of a few generalized documents you may be requierd to have on you:

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

Corbett Restaurant Group has the experience to help you in the sale of your Moorpark, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to show the majority of these documents to a potrntial buyer right away. However, you may want to have them on hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to see your Moorpark, California restaurant through the lens of a buyer. It gives you a clear picture of the Moorpark, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any loopholes you will need to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial aspect of selling your Moorpark, California restaurant. This is the reason you should strive to have your documents complete and organized.

Showing your financial documents to potential buyers may help clear any hesitations they may have concerning your Moorpark, California restaurant.

The financial documents could include:

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

Also, make sure you have duplicate copies of all of these records. This could make it easier for you to transmit the records to possible buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things can create legal problems for you if a buyer later on discovers these ommissions post closing the deal.

#3 Organize the Information On Your Commercial Lease

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

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Moorpark, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this helps with estimating the true value of your Moorpark, California restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow planning to sell your Moorpark, California restaurant.

The estimated time it takes to sell a Moorpark, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and slash various costs, and thus increase the value of your Moorpark, 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 deriving the overall value of your Moorpark, 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 Moorpark, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your Moorpark, California restaurant does not appeal to buyers, they likely pass over without a second look.

To prevent this from happening, everything in and out of your Moorpark, California restaurant must be cleaned and maintained. Manicured and a clean parking area could help create appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are also simple things that would help create a unforgettable initial impression.

Furthermore, you should make sure all the equipment is in satisfactory condition. If your equipment is not working, it can convey the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial status and output abilities. It could even lower the mood of your staff, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Moorpark, California restaurant.

#7 look for Moorpark Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Moorpark, California restaurant broker to help. The professional Moorpark, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can show your Moorpark, California restaurant on listing websites and let your family and friends know about your plans to sell your Moorpark, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Moorpark, California restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your Moorpark, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the deal. The documentation often start with the Asset Purchase Agreement.

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

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

Choosing a Moorpark, California Restaurant Broker

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

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

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

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

Contact a Moorpark, California Restaurant Broker

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

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

Moorpark Zip Codes We Support: 93020, 93021