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Considering starting a new eatery, relocating, or even retiring. No matter the reason, selling a Oakdale, California restaurant can be a lot more challenging than you may realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the sweat you’ve put into it.
You can either make the decision to contract with a Oakdale, California restaurant broker to help you in selling your Oakdale, California restaurant or do the task on your own. Whether considering selling your Oakdale, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.
This is a necessary first step to make when you start the process of offering your Oakdale, California restaurant.
The required paperwork may vary from state to state--even in California, but the following is a list of a few standard documents you may need to have ready:
Corbett Restaurant Group comes with experience to help you in the sale of your Oakdale, California restaurant. Call today for a no-obligation business review at (888) 266-5182.
It's probably best not to reveal all these documents to a potrntial buyer day one. But, you should have them at hand because you will certainly require them during the sales process.
Also, putting together these documents lets you see your Oakdale, California restaurant through the lens of a buyer. This provides you a clear image of the Oakdale, California restaurant you are selling. Furthermore, it helps you show whether there are any loopholes you'll need to address.
Your financial documents are a crucial part of selling your Oakdale, California restaurant. This is the reason you should strive to make your documents accurate and organized.
Offering your financial documents to potential buyers may aid clear any hesitations they may have regarding your Oakdale, California restaurant.
These financial documents may include:
In addition, make sure you have duplicate copies of all of these records. This could make it easier for you to send the information to prospective buyers.
Also, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later on discovers these ommissions post signing the deal.
While preparing to sell your Oakdale, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting 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 Oakdale, California restaurant and to potentially extend your lease.
Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the value of the Oakdale, 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 Oakdale, California restaurant.
The average time it may take to sell a Oakdale, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and cut several costs, and therefore strengthen the value of your Oakdale, California restaurant.
Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.
This will help you in deriving the overall value of your Oakdale, California restaurant. When you understand the overall value this may help you settle on a selling price.
The first impression of your Oakdale, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Oakdale, California restaurant does not appeal to buyers, they might pass over without a second look.
To avoid this from happening, everything in and out of your Oakdale, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create curb appeal for prospective buyers.
Clean windows, polished door handles and a neat floor are also small items that can help create a unforgettable initial impression.
Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not functioning, it might send the message that you are in a hurry to pass a bad deal to the buyer.
Non-functional equipment also raises doubt about your financial situation and output capabilities. It could even dampen the excitment of your employees, and in turn, negatively affect your output and effect your profit and loss statement.
You should appear credible in order to build the confidence of potential buyers regarding purchasing your Oakdale, California restaurant.
Marketing to potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced Oakdale, California restaurant broker to help. A professional Oakdale, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project alone, you will need to carry out appropriate advertising. You can list your Oakdale, California restaurant on listing websites and tell family and friends about your plans to sell your Oakdale, California restaurant.
As you will likely run across competition when trying to sell your Oakdale, California restaurant, you need your restaurant to stand out.
If you decide to sell your Oakdale, California restaurant yourself, or with a a Oakdale, California restaurant broker, you need to always be ready. Be prepared to show your Oakdale, California restaurant to potential buyers at all times.
You'll never know when a buyer could walk into your Oakdale, California restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.
This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the transaction. The documentation will likely begin with the Asset Purchase Agreement.
You should have your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.
This document includes details such as the selling price of your Oakdale, California restaurant, assets and equipment and inventory value.
While attempting to sell your Oakdale, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.
The fact remains, if you're looking to achieve the most out of the business deal, you need some level of experience to stand above and against the competition while trying to attract buyers.
Expertise is also vital during negotiations with prospective buyers. This is where an experienced Oakdale, California restaurant broker comes in. A Oakdale, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Oakdale, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.
With the assistance of a Oakdale, California restaurant broker, you can focus your undivided attention on operating your Oakdale, California restaurant and rest assured knowing that a professional is in charge of selling your Oakdale, California restaurant.
Choosing to sell your Oakdale, California restaurant through a Oakdale, California restaurant broker has several advantages. First, however, you need to select the best Oakdale, California restaurant broker to assist you in selling your Oakdale, California restaurant.
At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Oakdale, California restaurant. And, we work harder than any other Oakdale 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 Oakdale, California restaurant for a great price.
Oakdale Zip Codes We Support: 95361
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