Decided to Sell Your Paso Robles, California Restaurant?

After years of sweat equity, you have decided to sell your Paso Robles, California restaurant

Considering opening a different Paso Robles, California restaurant, moving, or even slowing down. Regardless of the reason, selling a Paso Robles, California restaurant can be a lot more difficult than you might think. This is because it takes careful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You can either make the decision to contract with a Paso Robles, California restaurant broker to assist you in selling your Paso Robles, California restaurant or take on the task yourself. Whether considering selling your Paso Robles, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather the Important Documentation

This is a necessary first step to make when you begin the process of offering your Paso Robles, California restaurant.

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

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

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It's probably best not to show all these documents to a prospective buyer day one. But, you may want to have them ready because you will certainly require them during the sales process.

In addition, compiling these documents allows you to view your Paso Robles, California restaurant through the lens of a buyer. This provides you a clear picture of the Paso Robles, California restaurant you're offering for sale. Furthermore, it allows you to identify whether there are any areas you'll need to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial part of selling your Paso Robles, California restaurant. This is why you should make it a priority to have these documents accurate and organized.

Offering your financial documents to prospective buyers may assist to clear any doubt they might have concerning your Paso Robles, 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 duplicate copies of all of these records. This may make it easier for you to send the information to possible buyers.

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

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Paso Robles, California restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the true value of the Paso Robles, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow planning to sell your Paso Robles, California restaurant.

The average time it may take to sell a Paso Robles, California restaurant is 6 months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and thus increase the worth of your Paso Robles, California restaurant.

Also, 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 aid you in coming up with the probable value of your Paso Robles, California restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Paso Robles, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general look of your Paso Robles, California restaurant does not appeal to buyers, they might take a pass immediately.

To avoid this from happening, all things in and out of your Paso Robles, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create curb appeal for prospective buyers.

Clean windows, polished handles and a clean floor are other easy items that can help create a unforgettable initial impression.

Furthermore, you should make sure all your equipment is in satisfactory 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 may rouse doubt about your financial situation and output capabilities. It could even lower the excitment 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 buying your Paso Robles, California restaurant.

#7 Search for Paso Robles Buyers

Searching for potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Paso Robles, California restaurant broker to help. The professional Paso Robles, California restaurant broker will come with recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out proper advertising. You can list your Paso Robles, California restaurant on listing websites and let your family and friends know about your intentions to sell your Paso Robles, California restaurant.

As you will likely come across competition when trying to sell your Paso Robles, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You'll never know when a buyer could walk into your Paso Robles, California restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Paso Robles, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the contract. The documentation will usually start 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 contract.

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

Choosing a Paso Robles, California Restaurant Broker

While trying to sell your Paso Robles, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

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

Experience is also vital during negotiations with prospective buyers. This is when an experienced Paso Robles, California restaurant broker comes in. A Paso Robles, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Paso Robles, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

With the help of a Paso Robles, California restaurant broker, you can maintain your undivided attention on operating your Paso Robles, California restaurant and rest assured with the knowledge that a professional is in charge of selling your Paso Robles, California restaurant.

Contact a Paso Robles, California Restaurant Broker

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

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

Paso Robles Zip Codes We Support: 93446, 93447