Decided to Sell Your Orcutt, California Restaurant?

After years of sweat equity, you have decided to sell your Orcutt, California restaurant

Contemplating opening a new Orcutt, California restaurant, moving, or maybe slowing down. No matter the reason, selling a Orcutt, California restaurant can be a lot more difficult than you may think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough profit for all the labor you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either make the decision to hire a eatery broker to assist you in selling your Orcutt, California restaurant or do the task yourself. Whether considering selling your Orcutt, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Important Paperwork

This is a necessary first step to take when you begin the process of marketing your Orcutt, 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 find helpful to have on you:

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

Corbett Restaurant Group has the experience to help you in the market for sale of your Orcutt, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to show the majority of these documents to a prospective buyer right away. But, you may want to have them on hand because you will eventually require them during the sales process.

In addition, putting together these documents allows you to see your Orcutt, California restaurant through the lens of a buyer. This gives you a clear picture of the Orcutt, California restaurant you are selling. In addition, it allows you to show if there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Orcutt, California restaurant. That’s why you should make it a priority to have these documents complete and well organized.

Showing your financial documents to prospective buyers could help clear any doubt they might have regarding your Orcutt, California restaurant.

The financial documents can include:

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

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

Also, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these things may create legal issues for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Orcutt, California restaurant, you need to understand of your commercial lease. It could be devestating 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 concerning your plan to sell your Orcutt, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the true value of the Orcutt, 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 before trying to sell your Orcutt, California restaurant.

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

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This may aid you in deriving the probable value of your Orcutt, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Orcutt, California restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall curb appeal of your Orcutt, California restaurant does not look good to buyers, they could pass over immediately.

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

Clean windows, polished door handles and a neat floor are other easy things that could help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial capabilities and production capabilities. It could even dampen the mood of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding buying your Orcutt, California restaurant.

#7 look for Orcutt Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Orcutt, California restaurant broker to help. The professional Orcutt, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this project alone, you will need to carry out proper advertising. You can offer your Orcutt, California restaurant on listing websites and let your family and friends know about your intentions to sell your Orcutt, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Orcutt, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the deal. The paperwork will usually start with the Asset Purchase Agreement.

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

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

Choosing a Orcutt, California Restaurant Broker

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

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

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

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

Contact a Orcutt, California Restaurant Broker

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

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

Orcutt Zip Codes We Support: 93455, 93457