Decided to Sell Your Paradise, California Restaurant?

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

Contemplating opening a different Paradise, California restaurant, moving, or maybe retiring. No matter the reason, selling your Paradise, California restaurant can be a lot more challenging than you may realize. This is because it takes careful preparation and a solid strategy to successfully exit with enough money for all the labor you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You may either decide to contract with a Paradise, California restaurant broker to help you in selling your Paradise, California restaurant or take on the task on your own. If you are considering selling your Paradise, 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 Necessary Paperwork

This is an important preparatory step to take when you commence the process of marketing your Paradise, California restaurant.

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

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

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

It's probably smart not to reveal all these documents to a prospective buyer day one. But, you should have them ready because you will eventually need them during the sales process.

Also, putting together these documents lets you see your Paradise, California restaurant through the lens of a buyer. This provides you a clear image of the Paradise, California restaurant you are offering for sale. Furthermore, it allows you to show whether there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial records are a crucial aspect of selling your Paradise, California restaurant. That’s the reason you should make it a priority to have these documents complete and organized.

Showing your financial documents to prospective buyers could assist to clear any hesitations they may have concerning your Paradise, California restaurant.

Your financial records may 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 the documents. This could make it easier for you to transmit the records to possible buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items may create legal issues for you if a buyer later discovers these ommissions after signing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Paradise, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease hinders you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Paradise, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this will help them estimate the value of the Paradise, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow starting to sell your Paradise, California restaurant.

The estimated time it takes to sell a Paradise, California restaurant is 6 months. Within those six months, there are several things you can do in order to increase your profit and cut several costs, and thus increase the worth of your Paradise, California restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

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

#5 Make Your Restaurant Attractive

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

To avoid this from happening, everything in and out of your Paradise, California restaurant must be cleaned and maintained. Landscaping and a clean parking area may help create curb appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are also simple items that can help create a unforgettable initial impression.

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

Faulty equipment can raise doubt about your financial capabilities and production abilities. It may even lower the mood of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for Paradise Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Paradise, California restaurant broker to help. A professional Paradise, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this task yourself, you will need to create proper advertising. You can list your Paradise, California restaurant on business websites and let your family and friends know about your intentions to sell your Paradise, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Paradise, California restaurant yourself, or through a Paradise, California restaurant broker, you should always be prepared. Be prepared to show your Paradise, California restaurant to prospective buyers at all times.

You will never know when a buyer will visit your Paradise, California restaurant. Some buyers may even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your Paradise, California Restaurant

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

You should have your attorney’s help in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Paradise, California Restaurant Broker

Although attempting to sell your Paradise, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first time sellers.

It's true, if you're looking to achieve the most from of the business transaction, you need some level of experience to stand above and against the cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Paradise, California restaurant broker is needed. A Paradise, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Paradise, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

With the help of a Paradise, California restaurant broker, you can focus your undivided attention on operating your Paradise, California restaurant and rest easy knowing that a professional is in charge of selling your Paradise, California restaurant.

Contact a Paradise, California Restaurant Broker

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

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

Paradise Zip Codes We Support: 95965, 95967, 95969