Ready to Sell Your Palmdale, California Restaurant?

After years of labor, you have made the decision sell your Palmdale, California restaurant

Considering opening a new eatery, moving, or even retiring. No matter the reason, selling a Palmdale, California restaurant can be way more complicated than you may realize. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough money for all the labor you may have put into it.

Important Actions to Consider when Selling Your Restaurant

You can either think to hire a eatery broker to help you in selling your Palmdale, California restaurant or do the task on your own. Whether considering selling your Palmdale, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Business Paperwork

This is a necessary first step to take when you begin the process of selling your Palmdale, California restaurant.

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

• Gather your assets
• Lease document
• 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 expertise to assist you in the market for sale of your Palmdale, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to reveal all these documents to a possible buyer day one. But, you may want to have them on hand because you will eventually need them during the sales process.

In addition, putting together these documents lets you view your Palmdale, California restaurant through the lens of a buyer. This provides you a clear image of the Palmdale, California restaurant you are offering for sale. Furthermore, it helps you show if there are any concerns you will need to address.

#2 Put Your Financials in Order

Your financial records are an important part of selling your Palmdale, California restaurant. This is the reason you should make it a priority to make your documents accurate and organized.

Offering your financial records to possible buyers could help clear any doubt they might have regarding your Palmdale, California restaurant.

Your financial records may include:

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

In addition, ensure you have soft copies of all of the documents. This will make it easier for you to transmit the documentation to possible buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Gather the Details of Your Commercial Lease

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of your Palmdale, 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 your cash flow starting to sell your Palmdale, California restaurant.

The estimated time it takes to sell a Palmdale, California restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and reduce several costs, and therefore increase the value of your Palmdale, California restaurant.

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

This may assist you in deriving the probable value of your Palmdale, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Palmdale, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the overall appearance of your Palmdale, California restaurant does not look good to buyers, they might pass over right off the bat.

To prevent this from happening, all things in and out of your Palmdale, California restaurant must be clean. Landscaped and a clean parking area can help create appeal for prospective buyers.

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

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

Faulty equipment may rouse doubt about your financial status and output abilities. It could even dampen the morale of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Palmdale, California restaurant.

#7 look for Palmdale Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Palmdale, California restaurant broker to help. The professional Palmdale, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this task yourself, you will need to create proper advertising. You can show your Palmdale, California restaurant on business websites and tell family and friends about your plans to sell your Palmdale, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Palmdale, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the contract. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Palmdale, California Restaurant Broker

Although trying to sell your Palmdale, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business deal, you need some level of experience to stand above and against the competition while trying to find buyers.

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

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

Contact a Palmdale, California Restaurant Broker

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

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

Palmdale Zip Codes We Support: 91390, 93535, 93543, 93550, 93551, 93552, 93590, 93591, 93599