Ready to Sell Your Orange, California Restaurant?

Following years of hard work, you have made the decision sell your Orange, California restaurant

Considering starting a new eatery, relocating, or maybe slowing down. Regardless of the reason, selling a Orange, California restaurant can be a lot more complicated than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the sweat you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Gather all Important Documentation

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

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

• A list of 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 help you in the sale of your Orange, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal all these documents to a possible buyer first day. But, you may want to have them ready because you will eventually require them during the sales process.

Also, putting together these documents allows you to view your Orange, California restaurant through the lens of a buyer. This gives you a clear picture of the Orange, California restaurant you're offering for sale. In addition, it allows you to identify whether there are any loopholes you'll need to take care of.

#2 Get Your Financial Records in Order

Your financial records are an important aspect of selling your Orange, California restaurant. That’s the reason you should strive to make these documents accurate and organized.

Showing your financial documents to possible buyers may help clear any hesitations they may have concerning your Orange, California restaurant.

The financial records can include:

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

In addition, make sure you have soft copies of all of these documents. This could make it easier for you to transmit the documentation to prospective buyers.

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

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Orange, California restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting 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 concerning your plan to sell your Orange, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this helps with estimating the value of the Orange, 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 planning to sell your Orange, California restaurant.

The estimated time it may take to sell a Orange, California restaurant is six months. Within those six months, there is a lot you can do to increase your profit and cut various costs, and therefore increase the value of your Orange, 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 will assist you in coming up with the overall value of your Orange, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Orange, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Orange, California restaurant does not appeal to buyers, they might pass over without consideration.

To avoid this from happening, everything in and out of your Orange, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also easy things that would help create a memorable first impression.

Additionally, you should make sure that all your equipment is in satisfactory condition. If your equipment is not functioning, it may send the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and output abilities. It could 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 regarding purchasing your Orange, California restaurant.

#7 look for Orange Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Orange, California restaurant broker to help. A professional Orange, California restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out proper advertising. You can offer your Orange, California restaurant on listing websites and let your family and friends know about your intentions to sell your Orange, California restaurant.

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

#8 Be Ready

Whether you decide to sell your Orange, California restaurant yourself, or with a a Orange, California restaurant broker, you should always be ready. Be prepared to show your Orange, California restaurant to prospective buyers at all times.

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

#9 Sell Your Orange, California Restaurant

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

You may need your attorney’s help in creating this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Orange, California Restaurant Broker

While trying to sell your Orange, 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 get the most from of the business transaction, you need a higher level of experience to stand above and against the cometitors while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Orange, California restaurant broker comes in. A Orange, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Orange, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Orange, California Restaurant Broker

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

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

Orange Zip Codes We Support: 92602, 92676, 92705, 92782, 92806, 92807, 92856, 92857, 92859, 92862, 92865, 92866, 92867, 92868, 92869