Ready to Sell Your Norwalk, California Restaurant?

Following years of hard work, you have decided to sell your Norwalk, California restaurant

Considering opening a new Norwalk, California restaurant, relocating, or even retiring. No matter the reason, selling your Norwalk, California restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

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

#1 Put Together the Necessary Paperwork

This is an important first step to take when you start the process of marketing your Norwalk, California restaurant.

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

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

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

It's probably smart not to show the majority of these documents to a possible buyer right away. However, you may want to have them on hand because you will eventually need them during the sales process.

Also, compiling these documents lets you view your Norwalk, California restaurant through the lens of a buyer. It provides you a clear picture of the Norwalk, California restaurant you're selling. Furthermore, it helps you show whether there are any loopholes you'll need to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important part of selling your Norwalk, California restaurant. That’s the reason you should make it a priority to have these documents complete and organized.

Offering your financial records to prospective buyers could assist to clear any doubt they might have regarding your Norwalk, California restaurant.

The financial records can include:

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

In addition, make sure you have hard copies of all of the documents. This may make it easier for you to transmit the information to potential buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later discovers these ommissions after completing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Norwalk, California restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the true value of your Norwalk, California restaurant.

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

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

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

This could assist you in coming up with the overall worth of your Norwalk, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

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

To prevent this from happening, all things in and out of your Norwalk, California restaurant must be clean. Manicured and a clean parking area may help create curb appeal for prospective buyers.

Clean windows, polished door handles and a presentable floor are also easy things that can help create a unforgettable first impression.

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

Faulty equipment can raise doubt about your financial status and production capabilities. It could even dampen the morale of your employees, which in turn, 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 buying your Norwalk, California restaurant.

#7 look for Norwalk Buyers

Searching for prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Norwalk, California restaurant broker to help. The professional Norwalk, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this task by yourself, you will need to carry out appropriate advertising. You can show your Norwalk, California restaurant on business websites and let your family and friends know about your plans to market for sale your Norwalk, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Norwalk, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the deal. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s help in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

This document includes details including the selling price of your Norwalk, California restaurant, assets and equipment and inventory value.

Choosing a Norwalk, California Restaurant Broker

Although attempting to sell your Norwalk, California restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first-timers.

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 cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Norwalk, California restaurant broker is needed. A Norwalk, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Norwalk, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Norwalk, California Restaurant Broker

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

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

Norwalk Zip Codes We Support: 90650, 90651, 90652, 90659