Time to Sell Your Murrieta, California Restaurant?

Following years of hard work, you have made the decision sell your Murrieta, California restaurant

Considering starting a new eatery, moving, or maybe retiring. No matter the reason, selling a Murrieta, California restaurant can be way more difficult 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 Actions to Take in Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Murrieta, California restaurant or do the task on your own. If you are considering selling your Murrieta, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Business Documentation

This is a necessary first step to take when you begin the process of offering your Murrieta, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some general documents you may find helpful to have prepared:

• A list of your assets
• Lease contract
• 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 Murrieta, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to show the majority of these documents to a possible buyer day one. However, you should have them at hand because you will certainly require them during the sales process.

Also, putting together these documents lets you view your Murrieta, California restaurant through the lens of a buyer. This gives you a clear image of the Murrieta, California restaurant you're selling. In addition, it helps you identify if there are any areas you'll need to address.

#2 Get Your Financial Documents in Order

Your financial records are a crucial detail of selling your Murrieta, California restaurant. This is why you should strive to have your documents complete and organized.

Showing your financial records to possible buyers may assist to clear any doubt they may have regarding your Murrieta, California restaurant.

The financial records could 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 the records. This may make it easier for you to transmit the information to prospective buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Murrieta, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Murrieta, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the true value of the Murrieta, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Murrieta, California restaurant.

The estimated time it may take to sell a Murrieta, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and reduce various costs, and therefore increase the value of your Murrieta, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may aid you in deriving the overall value of your Murrieta, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Murrieta, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the overall look of your Murrieta, California restaurant does not look good to buyers, they could take a pass without consideration.

To prevent this from happening, everything in and out of your Murrieta, California restaurant must be cleaned and maintained. Manicured and a clean parking lot can help create appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are other easy things that would help create a great first impression.

Furthermore, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it may convey the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial situation and production capabilities. It can even dampen the morale of your employees, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Murrieta, California restaurant.

#7 Search for Murrieta Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire a professional Murrieta, California restaurant broker to help. A professional Murrieta, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this task alone, you will need to carry out appropriate advertising. You can market your Murrieta, California restaurant on business websites and let your family and friends know about your intentions to sell your Murrieta, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Murrieta, California restaurant. Some buyers might even come in as customers in order to perform some research before contacting you.

#9 Sell Your Murrieta, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the contract. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This document includes details such as the selling price of your Murrieta, California restaurant, items and equipment and inventory value.

Choosing a Murrieta, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business deal, you need some level of experience to stand out against the competition while trying to find buyers.

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

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

Contact a Murrieta, California Restaurant Broker

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

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

Murrieta Zip Codes We Support: 92562, 92563, 92584