Decided to Sell Your North Highlands, California Restaurant?

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

Contemplating starting a new North Highlands, California restaurant, moving, or maybe retiring. No matter the reason, selling your North Highlands, California restaurant can be a lot more complicated than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You can either decide to contract with a North Highlands, California restaurant broker to assist you in selling your North Highlands, California restaurant or do the task yourself. If you are considering selling your North Highlands, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Necessary Paperwork

This is an important initial step to make when you start the process of offering your North Highlands, 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 document
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection records
• Architectural plan
• Financial statements and other important financial documents

Corbett Restaurant Group has the experience to assist you in the market for sale of your North Highlands, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to show all these documents to a potrntial buyer right away. But, you should have them on hand because you will eventually require them during the sales process.

In addition, putting together these documents allows you to view your North Highlands, California restaurant through the lens of a buyer. It gives you a clear image of the North Highlands, California restaurant you are offering for sale. Furthermore, it helps you identify whether there are any concerns you'll need to address.

#2 Put Your Financial Records in Order

Your financial documents are a crucial part of selling your North Highlands, California restaurant. This is why you should strive to make your documents complete and organized.

Offering your financial documents to prospective buyers may assist to clear any hesitations they may have concerning your North Highlands, California restaurant.

These financial records can include:

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

Also, make sure you have hard copies of all of the documents. This can make it easier for you to send the records to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things may create legal issues for you if a buyer later on discovers these ommissions post completing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your North Highlands, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your North Highlands, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the value of your North Highlands, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow starting to sell your North Highlands, California restaurant.

The estimated time it may take to sell a North Highlands, California restaurant is six months. Within those six months, there is a lot you can do to increase your profit and slash various costs, and therefore strengthen the worth of your North Highlands, California restaurant.

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

This could help you in deriving the overall worth of your North Highlands, California restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your North Highlands, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall look of your North Highlands, California restaurant does not appeal to buyers, they could take a pass immediately.

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

Clean windows, polished handles and a clean floor are also simple items that can help create a memorable initial impression.

Furthermore, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it could convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial situation and output abilities. It may even lower the morale of your staff, and in response, 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 buying your North Highlands, California restaurant.

#7 look for North Highlands Buyers

Searching for potential buyers is time-consuming and can require specific skills and a certain level of experience. This may demand that you hire a professional North Highlands, California restaurant broker to help. The professional North Highlands, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project yourself, you will need to create appropriate advertising. You can show your North Highlands, California restaurant on business websites and let your family and friends know about your plans to market for sale your North Highlands, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer will visit your North Highlands, California restaurant. Some buyers may even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your North Highlands, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a North Highlands, California Restaurant Broker

Although attempting to sell your North Highlands, California restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

It's true, in order for you to get the most out of the business transaction, you need some level of expertise in order to stand above and against the cometitors while trying to find buyers.

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

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

Contact a North Highlands, California Restaurant Broker

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

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

North Highlands Zip Codes We Support: 95660, 95821, 95841, 95842