Are You Ready to Sell Your Paramount, California Restaurant?

After years of hard work, you have decided to sell your Paramount, California restaurant

Contemplating opening a different Paramount, California restaurant, moving, or maybe slowing down. No matter the reason, selling your Paramount, California restaurant can be way more complicated than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Put Together any Business Paperwork

This is a necessary first step to take when you commence the process of offering your Paramount, California restaurant.

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

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

Corbett Restaurant Group has the expertise to help you in the sale of your Paramount, 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 potrntial buyer day one. However, you may want to have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents lets you view your Paramount, California restaurant through the lens of a buyer. This provides you a clear image of the Paramount, California restaurant you are offering for sale. In addition, it helps you identify whether there are any concerns you'll have to take care of.

#2 Put Your Financials in Order

Your financial records are a crucial detail of selling your Paramount, California restaurant. That’s why you should make an effort to have your documents accurate and organized.

Offering your financial records to potential buyers could aid clear any hesitations they might have concerning your Paramount, California restaurant.

These 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 hard copies of all of these documents. This will make it easier for you to transmit the documentation to potential buyers.

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

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Paramount, California restaurant, you need to understand of your commercial lease. It would 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 Paramount, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the true value of the Paramount, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build up your cash flow starting to sell your Paramount, California restaurant.

The average time it may take to sell a Paramount, California restaurant is six months. Within those six months, there are several things you can do in order to strengthen your profit and slash various costs, and therefore strengthen the value of your Paramount, California restaurant.

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may help you in coming up with the probable worth of your Paramount, California restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Paramount, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the overall look of your Paramount, California restaurant does not appeal to buyers, they could take a pass immediately.

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

Clean windows, polished door handles and a presentable floor are other small items that would help create a great first impression.

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

Non-functional equipment also raises doubt about your financial situation and production abilities. It may even lower the excitment of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your Paramount, California restaurant.

#7 Search for Paramount Buyers

Searching for potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Paramount, California restaurant broker to help. A professional Paramount, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project alone, you will need to carry out proper advertising. You can market your Paramount, California restaurant on listing websites and let your family and friends know about your plans to sell your Paramount, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Paramount, California Restaurant

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

You should have your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Paramount, California Restaurant Broker

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

The fact remains, in order for you to get the most out of the business deal, you need a higher level of experience in order to stand above and against your competition while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Paramount, California restaurant broker is needed. A Paramount, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Paramount, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Paramount, California Restaurant Broker

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

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

Paramount Zip Codes We Support: 90262, 90723