Time to Sell Your Oildale, California Restaurant?

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

Considering opening a new eatery, relocating, or even retiring. Regardless of the reason, selling your Oildale, California restaurant can be way more complicated than you might realize. Thats because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the time you may have put into it.

Important Actions to Take when Selling Your Restaurant

You can either think to contract with a Oildale, California restaurant broker to help you in selling your Oildale, California restaurant or do the task on your own. Whether considering selling your Oildale, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together all Business Documentation

This is a necessary first step to take when you start the process of offering your Oildale, California restaurant.

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

• 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 has the experience to help you in the sale of your Oildale, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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 require them during the sales process.

In addition, compiling these documents lets you see your Oildale, California restaurant through the lens of a buyer. This gives you a clear image of the Oildale, California restaurant you're selling. Furthermore, it allows you to identify if there are any concerns you'll need to address.

#2 Put Your Financial Records in Order

Your financial records are an important detail of selling your Oildale, California restaurant. That’s the reason you should make an effort to make your documents complete and organized.

Offering your financial documents to possible buyers may aid clear any doubt they might have concerning your Oildale, California restaurant.

These financial documents could include:

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

In addition, ensure you have duplicate copies of all of these records. This will make it easier for you to transmit the information to potential buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things can create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Oildale, California restaurant, you must find out the terms 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 talk to your landlord regarding your plan to sell your Oildale, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of the Oildale, California restaurant.

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

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

Also, 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 assist you in estimating the probable worth of your Oildale, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Oildale, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Oildale, California restaurant does not appeal to buyers, they might pass over immediately.

To prevent this from happening, everything in and out of your Oildale, California restaurant must be clean. Manicured and a clean parking lot can help create appeal for potential buyers.

Clean windows, polished door handles and a clean floor are also simple things that could help create a unforgettable initial impression.

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

Non-functional equipment can raise doubt about your financial situation and output capabilities. It may even lower the morale of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Oildale, California restaurant.

#7 look for Oildale Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire an experienced Oildale, California restaurant broker to help. The professional Oildale, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project by yourself, you will need to create appropriate advertising. You can offer your Oildale, California restaurant on business websites and tell family and friends about your intentions to sell your Oildale, California restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could walk into your Oildale, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Oildale, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the contract. The documentation will usually start with the Asset Purchase Agreement.

You may need your attorney’s assistance 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 including the selling price of your Oildale, California restaurant, assets and equipment as well as inventory value.

Choosing a Oildale, California Restaurant Broker

While trying to sell your Oildale, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business deal, you need a higher level of experience to stand above and against your competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Oildale, California restaurant broker comes in. A Oildale, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Oildale, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Oildale, California Restaurant Broker

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

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

Oildale Zip Codes We Support: 93308, 93388