Right Time to Sell Your Oxnard, California Restaurant?

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

Considering opening a different eatery, moving, or even retiring. No matter the reason, selling a Oxnard, California restaurant can be way more challenging than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Oxnard, California restaurant or do the task on your own. Whether considering selling your Oxnard, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather the Necessary Documentation

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

The necessary documents may vary from state to state--even in California, but below is a list of a few standard documents you may be requierd to have on you:

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

Corbett Restaurant Group comes with experience to help you in the sale of your Oxnard, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a potrntial buyer first day. However, you may want to have them ready because you will certainly need them during the sales process.

In addition, compiling these documents lets you see your Oxnard, California restaurant through the lens of a buyer. It gives you a clear image of the Oxnard, California restaurant you are offering for sale. In addition, it helps you identify if there are any concerns you'll have to take care of.

#2 Put Your Financial Records in Order

Your financial records are a crucial part of selling your Oxnard, California restaurant. This is the reason you should make an effort to make these documents accurate and well organized.

Offering your financial records to possible buyers could assist to clear any doubt they might have concerning your Oxnard, California restaurant.

These financial documents could include:

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

Also, make sure you have soft copies of all of the records. This may make it easier for you to transmit the records to possible buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later discovers these ommissions after signing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Oxnard, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Oxnard, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this will help them estimate the true value of the Oxnard, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow starting to sell your Oxnard, California restaurant.

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

Also, 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 assist you in estimating the overall value of your Oxnard, California restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

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

To prevent this from happening, everything in and out of your Oxnard, California restaurant must be cleaned and maintained. Manicured and a clean parking area can help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are other easy items that could help create a unforgettable initial impression.

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

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

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

#7 Search for Oxnard Buyers

Looking for potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Oxnard, California restaurant broker to help. A professional Oxnard, 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 show your Oxnard, California restaurant on listing websites and tell family and friends about your plans to market for sale your Oxnard, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer will visit your Oxnard, California restaurant. Some buyers might even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Oxnard, California Restaurant

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

You should have your attorney’s expertise in creating this document. Involving 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 Oxnard, California restaurant, items and equipment and inventory value.

Choosing a Oxnard, California Restaurant Broker

Although attempting to sell your Oxnard, California restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

It's true, if you're looking to achieve the most from of the business deal, you need a higher level of experience in order to stand out against the cometitors while attempting to attract buyers.

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

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

Contact a Oxnard, California Restaurant Broker

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

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

Oxnard Zip Codes We Support: 93001, 93030, 93031, 93032, 93033, 93034, 93035, 93036, 93041