Are You Ready to Sell Your North Tustin, California Restaurant?

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

Considering opening a different North Tustin, California restaurant, moving, or even slowing down. Regardless of the reason, selling a North Tustin, California restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you may have put into it.

Important Steps to Take in Selling Your Restaurant

You may either decide to contract with a eatery broker to help you in selling your North Tustin, California restaurant or take on the task yourself. Whether considering selling your North Tustin, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Important Documentation

This is an important initial step to take when you begin the process of marketing your North Tustin, 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 need to have at hand:

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

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

In addition, putting together these documents lets you see your North Tustin, California restaurant through the lens of a buyer. It gives you a clear picture of the North Tustin, California restaurant you are offering for sale. Furthermore, it helps you show whether there are any areas you will have to address.

#2 Get Your Financials in Order

Your financial documents are an important aspect of selling your North Tustin, California restaurant. That’s the reason you should make an effort to have your documents complete and well organized.

Offering your financial records to possible buyers could help clear any doubt they may have concerning your North Tustin, California restaurant.

The financial records can include:

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

In addition, ensure you have hard copies of all of the records. This may make it easier for you to send the documentation to prospective buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things can create legal issues for you if a buyer later on discovers these liabilities after signing the deal.

#3 Gather the Details of Your Commercial Lease

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

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your North Tustin, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this helps with estimating the value of your North Tustin, 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 North Tustin, California restaurant.

The estimated time it takes to sell a North Tustin, 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 strengthen the value of your North Tustin, California restaurant.

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

This could aid you in coming up with the probable worth of your North Tustin, California restaurant. If you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your North Tustin, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the overall appearance of your North Tustin, California restaurant does not appeal to buyers, they might pass over without consideration.

To prevent this from happening, all things in and out of your North Tustin, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are other small items that can help create a unforgettable first impression.

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

Faulty equipment can raise doubt about your financial capabilities and production capabilities. It could even dampen the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your North Tustin, California restaurant.

#7 Search for North Tustin Buyers

Looking for potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional North Tustin, California restaurant broker to help. A professional North Tustin, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project alone, you will need to carry out appropriate advertising. You can market your North Tustin, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your North Tustin, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your North Tustin, California restaurant yourself, or through a North Tustin, California restaurant broker, you should always be prepared. Be ready to show your North Tustin, California restaurant to potential buyers at all times.

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

#9 Sell Your North Tustin, California Restaurant

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

You may need your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a North Tustin, California Restaurant Broker

While trying to sell your North Tustin, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

The fact remains, in order for you to achieve the most out of the business deal, you need some level of expertise in order to stand out against your cometitors while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced North Tustin, California restaurant broker comes in. A North Tustin, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your North Tustin, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a North Tustin, California Restaurant Broker

Deciding to sell your North Tustin, California restaurant through a North Tustin, California restaurant broker has many advantages. First, however, you need to select the best North Tustin, California restaurant broker to help you in selling your North Tustin, California restaurant.

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

North Tustin Zip Codes We Support: 92705, 92711, 92780