Right Time to Sell Your National City, California Restaurant?

Following years of sweat equity, you have decided to sell your National City, California restaurant

Contemplating starting a different eatery, relocating, or even slowing down. Regardless of the reason, selling your National City, California restaurant can be a lot more complicated than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough money for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your National City, California restaurant or take on the task yourself. Whether considering selling your National City, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Necessary Paperwork

This is an important initial step to make when you start the process of marketing your National City, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your National City, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a possible buyer right away. However, you may want to have them ready because you will certainly need them during the sales process.

Also, compiling these documents allows you to view your National City, California restaurant through the lens of a buyer. This provides you a clear picture of the National City, California restaurant you are selling. In addition, it helps you identify whether there are any loopholes you'll need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are an important aspect of selling your National City, California restaurant. This is why you should make an effort to have these documents accurate and well organized.

Showing your financial documents to prospective buyers could assist to clear any doubt they might have regarding your National City, California restaurant.

The financial records can include:

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

Also, ensure you have soft copies of all of these documents. This will make it easier for you to transmit the records to potential buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these items may create legal issues for you if a buyer later discovers these ommissions after completing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your National City, California restaurant, you need to review of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your National City, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the true value of your National City, California restaurant.

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

The average time it takes to sell a National City, California restaurant is 6 months. Within the six months, there are many things you can do to increase your profit and slash several costs, and thus increase the value of your National City, California restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in coming up with the probable worth of your National City, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your National City, California restaurant will go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your National City, California restaurant does not look good to buyers, they likely pass over without a second look.

To avoid this from happening, all things in and out of your National City, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create appeal for potential buyers.

Spot-free windows, polished door handles and a presentable floor are also simple items that would help create a memorable first impression.

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

Faulty equipment may rouse doubt about your financial capabilities and output capabilities. It may even lower the mood of your employees, and 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 regarding buying your National City, California restaurant.

#7 look for National City Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional National City, California restaurant broker to help. A professional National City, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this task alone, you will need to carry out appropriate advertising. You can list your National City, California restaurant on listing websites and tell family and friends about your plans to market for sale your National City, California restaurant.

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

#8 Be Ready

If you decide to sell your National City, California restaurant yourself, or with a a National City, California restaurant broker, you should always be ready. Be prepared to show your National City, California restaurant to potential buyers at all times.

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

#9 Sell Your National City, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The documentation 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 aspect of the contract.

This document includes details such as the selling price of your National City, California restaurant, assets and equipment and inventory value.

Choosing a National City, California Restaurant Broker

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

The fact remains, if you're looking to get the most from of the business deal, you need some level of experience to stand out against the competition while trying to attract buyers.

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

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

Contact a National City, California Restaurant Broker

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

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

National City Zip Codes We Support: 91902, 91947, 91950, 91951, 92136