Are You Ready to Sell Your Oceanside, California Restaurant?

After years of labor, you have made the decision sell your Oceanside, California restaurant

Contemplating opening a new eatery, relocating, or maybe retiring. Regardless of the reason, selling your Oceanside, California restaurant can be a lot more difficult than you might think. Thats because it takes careful 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 may either decide to contract with a Oceanside, California restaurant broker to assist you in selling your Oceanside, California restaurant or take on the task on your own. Whether considering selling your Oceanside, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together the Business Documentation

This is an important preparatory step to take when you begin the process of marketing your Oceanside, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of some generalized documents you may need to have at hand:

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

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

You certainly do not want to show all these documents to a possible buyer day one. But, you should have them at hand because you will eventually need them during the sales process.

Also, putting together these documents lets you see your Oceanside, California restaurant through the lens of a buyer. It provides you a clear picture of the Oceanside, California restaurant you're selling. In addition, it helps you identify whether there are any loopholes you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important part of selling your Oceanside, California restaurant. That’s why you should strive to make these documents complete and organized.

Showing your financial records to possible buyers could aid clear any doubt they may have regarding your Oceanside, California restaurant.

The financial documents could include:

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

In addition, ensure you have soft copies of all of these documents. This will make it easier for you to send the records to prospective buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal issues for you if a buyer later discovers these liabilities post signing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Oceanside, California restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from sealing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Oceanside, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the value of the Oceanside, California restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Oceanside, California restaurant.

The estimated time it may take to sell a Oceanside, California restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and cut various costs, and thus strengthen the value of your Oceanside, California restaurant.

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

This will help you in deriving the overall worth of your Oceanside, California restaurant. When you understand the overall value this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Oceanside, California restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the general aesthetic of your Oceanside, California restaurant does not look good to buyers, they might pass over without a second look.

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

Clean windows, polished handles and a clean floor are also small items that could help create a unforgettable first impression.

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

Faulty equipment also raises doubt about your financial situation and output abilities. It may even lower the excitment of your staff, and in response, 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 Oceanside, California restaurant.

#7 Search for Oceanside Buyers

Searching for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Oceanside, California restaurant broker to help. The professional Oceanside, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this task yourself, you will need to create appropriate advertising. You can list your Oceanside, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Oceanside, California restaurant.

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

#8 Be Ready

If you decide to sell your Oceanside, California restaurant yourself, or with a a Oceanside, California restaurant broker, you need to always be ready. Be ready to show your Oceanside, California restaurant to potential buyers at all times.

You'll never know when a buyer will visit your Oceanside, California restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Oceanside, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the deal. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Oceanside, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business deal, you need some level of expertise in order to stand out against your competition while trying to find buyers.

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

With the assistance of a Oceanside, California restaurant broker, you can focus your undivided attention on operating your Oceanside, California restaurant and rest assured knowing that a professional is in charge of selling your Oceanside, California restaurant.

Contact a Oceanside, California Restaurant Broker

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

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

Oceanside Zip Codes We Support: 92003, 92028, 92049, 92051, 92052, 92054, 92056, 92057, 92058, 92068