Are You Ready to Sell Your Morgan Hill, California Restaurant?

After years of sweat equity, you have made the decision sell your Morgan Hill, California restaurant

Considering opening a new Morgan Hill, California restaurant, relocating, or maybe slowing down. Regardless of the reason, selling a Morgan Hill, California restaurant can be a lot more difficult than you might think. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough money for all the labor you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either decide to contract with a Morgan Hill, California restaurant broker to guide you in selling your Morgan Hill, California restaurant or do the task on your own. Whether considering selling your Morgan Hill, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Necessary Documentation

This is an important initial step to make when you begin the process of marketing your Morgan Hill, California restaurant.

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

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Morgan Hill, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a potrntial buyer right away. But, you may want to have them at hand because you will eventually need them during the sales process.

Also, putting together these documents lets you view your Morgan Hill, California restaurant through the lens of a buyer. This gives you a clear image of the Morgan Hill, California restaurant you're offering for sale. In addition, it helps you identify if there are any loopholes you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial part of selling your Morgan Hill, California restaurant. This is the reason you should make an effort to have your documents accurate and organized.

Showing your financial documents to possible buyers could assist to clear any doubt they might have regarding your Morgan Hill, California restaurant.

Your financial records can 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 the documents. This will make it easier for you to transmit the records to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items can create legal issues for you if a buyer later on discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Morgan Hill, California restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Morgan Hill, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an in-depth analysis of your financial records, whether favorable or not, this helps them estimate the value of the Morgan Hill, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow planning to sell your Morgan Hill, California restaurant.

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

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This could assist you in estimating the probable value of your Morgan Hill, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Morgan Hill, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your Morgan Hill, California restaurant does not appeal to buyers, they might take a pass immediately.

To avoid this from happening, all things in and out of your Morgan Hill, California restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other simple items that could help create a memorable first impression.

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

Faulty equipment can raise doubt about your financial status and production capabilities. It could even lower the mood of your employees, which 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 concerning purchasing your Morgan Hill, California restaurant.

#7 Search for Morgan Hill Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Morgan Hill, California restaurant broker to help. The professional Morgan Hill, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you make the decision to handle this project alone, you will need to create appropriate advertising. You can market your Morgan Hill, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Morgan Hill, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer will walk into your Morgan Hill, California restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Morgan Hill, 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 paperwork will likely begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating this document. Working with 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 Morgan Hill, California restaurant, assets and equipment and inventory value.

Choosing a Morgan Hill, California Restaurant Broker

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

The fact remains, in order for you to achieve the most out of the business transaction, you need a higher level of experience to stand above and against your competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Morgan Hill, California restaurant broker is needed. A Morgan Hill, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Morgan Hill, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Morgan Hill, California Restaurant Broker

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

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

Morgan Hill Zip Codes We Support: 95037, 95046