Time to Sell Your Ontario, California Restaurant?

Following years of sweat equity, you have made the decision sell your Ontario, California restaurant

Contemplating opening a new Ontario, California restaurant, moving, or even retiring. Regardless of the reason, selling your Ontario, California restaurant can be way more difficult than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the time you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either decide to contract with a Ontario, California restaurant broker to assist you in selling your Ontario, California restaurant or take on the task on your own. Whether considering selling your Ontario, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Important Paperwork

This is an important preparatory step to make when you start the process of marketing your Ontario, California restaurant.

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

• A list of your assets
• Lease documentation
• 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 experience to assist you in the market for sale of your Ontario, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer first day. However, you should have them ready because you will certainly require them during the sales process.

Also, compiling these documents lets you see your Ontario, California restaurant through the lens of a buyer. It provides you a clear image of the Ontario, California restaurant you are selling. In addition, 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 detail of selling your Ontario, California restaurant. That’s why you should make an effort to make your documents accurate and well organized.

Showing your financial records to possible buyers could help clear any doubt they might have concerning your Ontario, California restaurant.

Your financial documents could include:

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

Also, ensure you have soft copies of all of these documents. This could make it easier for you to transmit the information to possible buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items could create legal issues for you if a buyer later discovers these ommissions after sealing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Ontario, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Ontario, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps them evaluate the true value of your Ontario, 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 starting to sell your Ontario, California restaurant.

The average time it takes to sell a Ontario, California restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and slash various costs, and thus strengthen the value of your Ontario, 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 may help you in estimating the probable value of your Ontario, California restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Ontario, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the overall appearance of your Ontario, California restaurant does not look good to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your Ontario, California restaurant must be cleaned and maintained. Manicured and a clean parking area could help create curb appeal for potential buyers.

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

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

Faulty equipment could raise doubt about your financial situation and production abilities. It can even lower the excitment of your staff, which 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 concerning buying your Ontario, California restaurant.

#7 Search for Ontario 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 an experienced Ontario, California restaurant broker to help. A professional Ontario, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project yourself, you will need to carry out appropriate advertising. You can list your Ontario, California restaurant on business websites and tell family and friends about your intentions to sell your Ontario, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Ontario, California restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Ontario, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

This agreement includes details such as the selling price of your Ontario, California restaurant, items and equipment as well as inventory value.

Choosing a Ontario, California Restaurant Broker

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

The fact remains, in order for you to achieve the most out of the business deal, you need a higher level of expertise to stand out against your competition while trying to attract buyers.

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

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

Contact a Ontario, California Restaurant Broker

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

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

Ontario Zip Codes We Support: 91743, 91758, 91761, 91762, 91764, 91798