Decided to Sell Your Oakley, California Restaurant?

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

Considering opening a new eatery, relocating, or even retiring. No matter the reason, selling a Oakley, California restaurant can be a lot more difficult than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you’ve put into it.

Important Actions to Consider in Selling Your Restaurant

You may either think to contract with a Oakley, California restaurant broker to guide you in selling your Oakley, California restaurant or take on the task on your own. If you are considering selling your Oakley, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather the Important Paperwork

This is an important preparatory step to take when you commence the process of offering your Oakley, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of a few general documents you may be requierd to have on you:

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

Corbett Restaurant Group comes with expertise to assist you in the sale of your Oakley, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a potrntial buyer day one. But, you may want to have them at hand because you will certainly need them during the sales process.

Also, putting together these documents lets you view your Oakley, California restaurant through the lens of a buyer. It provides you a clear image of the Oakley, California restaurant you're selling. Furthermore, it allows you to show whether there are any areas you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial part of selling your Oakley, California restaurant. This is the reason you should strive to make these documents complete and well organized.

Offering your financial documents to prospective buyers may help clear any doubt they may have regarding your Oakley, California restaurant.

These financial documents could 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 records. This can make it easier for you to send the documentation to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items may create legal problems for you if a buyer later on discovers these ommissions after completing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Oakley, 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 concerning your plan to sell your Oakley, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the value of the Oakley, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your Oakley, California restaurant.

The average time it may take to sell a Oakley, California restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and cut several costs, and thus increase the value of your Oakley, California restaurant.

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

This will aid you in deriving the overall value of your Oakley, California restaurant. If you understand the overall value this could help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Oakley, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall curb appeal of your Oakley, California restaurant does not look good to buyers, they could take a pass without consideration.

To prevent this from happening, everything in and out of your Oakley, California restaurant must be clean. Landscaping and a clean parking area can help create curb appeal for potential buyers.

Clean windows, polished handles and a neat floor are other small items that would help create a unforgettable initial impression.

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

Faulty equipment can raise doubt about your financial capabilities and production abilities. It may even dampen the mood of your staff, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Oakley, California restaurant.

#7 look for Oakley Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire a professional Oakley, California restaurant broker to help. A professional Oakley, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this project alone, you will need to create appropriate advertising. You can offer your Oakley, California restaurant on business websites and tell family and friends about your plans to sell your Oakley, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Oakley, California restaurant yourself, or through a Oakley, California restaurant broker, you need to always be prepared. Be prepared to show your Oakley, California restaurant to prospective buyers at all times.

You'll never know when a buyer could visit your Oakley, California restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Oakley, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Oakley, California Restaurant Broker

While trying to sell your Oakley, California restaurant on your own can be an exhilarating project, 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 transaction, you need some level of experience in order to stand above and against the cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Oakley, California restaurant broker is needed. A Oakley, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Oakley, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Oakley, California Restaurant Broker

Choosing to sell your Oakley, California restaurant through a Oakley, California restaurant broker has many advantages. First, however, you need to select the best Oakley, California restaurant broker to assist you in selling your Oakley, California restaurant.

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

Oakley Zip Codes We Support: 94561