Are You Ready to Sell Your Palm Desert, California Restaurant?

Following years of hard work, you have decided to sell your Palm Desert, California restaurant

Contemplating starting a different eatery, moving, or even retiring. Regardless of the reason, selling a Palm Desert, California restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough money for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You may either think to contract with a Palm Desert, California restaurant broker to guide you in selling your Palm Desert, California restaurant or take on the task yourself. Whether considering selling your Palm Desert, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Necessary Documentation

This is an important initial step to take when you begin the process of selling your Palm Desert, California restaurant.

The required paperwork 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 document
• 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 expertise to assist you in the market for sale of your Palm Desert, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a possible buyer right away. But, you may want to have them on hand because you will certainly need them during the sales process.

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

#2 Put Your Financial Records in Order

Your financial records are an important aspect of selling your Palm Desert, California restaurant. This is the reason you should strive to make these documents complete and well organized.

Offering your financial documents to prospective buyers could aid clear any doubt they may have concerning your Palm Desert, California restaurant.

Your financial documents could include:

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

In addition, make sure you have duplicate copies of all of the documents. This will make it easier for you to send the records to prospective buyers.

In addition, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things can create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Palm Desert, 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 closing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Palm Desert, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the value of the Palm Desert, 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 Palm Desert, California restaurant.

The estimated time it may take to sell a Palm Desert, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and cut various costs, and therefore strengthen the value of your Palm Desert, 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 value your assets.

This could assist you in coming up with the overall worth of your Palm Desert, California restaurant. If you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Palm Desert, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general appearance of your Palm Desert, California restaurant does not appeal to buyers, they likely take a pass immediately.

To prevent this from happening, everything in and out of your Palm Desert, California restaurant must be clean. Landscaped and a clean parking lot could help create appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also small items that would help create a unforgettable first impression.

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

Faulty equipment could raise doubt about your financial status and output capabilities. It could even lower the mood of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Palm Desert Buyers

Searching for potential buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire an experienced Palm Desert, California restaurant broker to help. The professional Palm Desert, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this project alone, you will need to create appropriate advertising. You can show your Palm Desert, California restaurant on listing websites and tell family and friends about your intentions to sell your Palm Desert, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Palm Desert, California Restaurant

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

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Palm Desert, California Restaurant Broker

While attempting to sell your Palm Desert, California restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most out of the business deal, you need a higher level of expertise to stand above and against your cometitors while attempting to find buyers.

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

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

Contact a Palm Desert, California Restaurant Broker

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

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

Palm Desert Zip Codes We Support: 92211, 92255, 92260, 92261