Ready to Sell Your Patterson, California Restaurant?

Following years of sweat equity, you have decided to sell your Patterson, California restaurant

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

Necessary Steps to Take in Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your Patterson, California restaurant or take on the task yourself. Whether considering selling your Patterson, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather all Important Documentation

This is an important first step to take when you begin the process of selling your Patterson, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of some generalized documents you may be requierd 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 plans
• Financial statements and other important financial documents

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

It's probably smart not to show all these documents to a possible buyer first day. But, you may want to have them ready because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your Patterson, California restaurant through the lens of a buyer. This gives you a clear picture of the Patterson, California restaurant you're offering for sale. In addition, it allows you to show if there are any areas you will have to take care of.

#2 Put Your Financial Records in Order

Your financial documents are an important detail of selling your Patterson, California restaurant. This is why you should make it a priority to have your documents accurate and well organized.

Offering your financial documents to potential buyers may aid clear any hesitations they might have regarding your Patterson, California restaurant.

Your financial records may include:

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

Also, make sure you have hard copies of all of the records. This will make it easier for you to send the information to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these things may create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Patterson, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Patterson, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the true value of the Patterson, California restaurant.

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

The estimated time it takes to sell a Patterson, California restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and slash several costs, and therefore increase the worth of your Patterson, California restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may aid you in coming up with the overall value of your Patterson, California restaurant. When you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Patterson, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the general aesthetic of your Patterson, California restaurant does not look good to buyers, they might take a pass immediately.

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

Spot-free windows, polished handles and a presentable floor are other easy items that would help create a memorable first impression.

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

Faulty equipment also raises doubt about your financial status and production capabilities. It can even dampen the mood of your employees, 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 potential buyers regarding buying your Patterson, California restaurant.

#7 look for Patterson Buyers

Searching for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Patterson, California restaurant broker to help. A professional Patterson, California restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you make the decision to handle this project by yourself, you will need to create appropriate advertising. You can offer your Patterson, California restaurant on listing websites and let your family and friends know about your plans to sell your Patterson, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Patterson, California restaurant. Some buyers might even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your Patterson, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Patterson, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business deal, you need a higher level of expertise in order to stand out against your competition while trying to attract buyers.

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

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

Contact a Patterson, California Restaurant Broker

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

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

Patterson Zip Codes We Support: 95363