Right Time to Sell Your Perris, California Restaurant?

Following years of labor, you have decided to sell your Perris, California restaurant

Contemplating opening a different eatery, moving, or maybe retiring. Regardless of the reason, selling a Perris, California restaurant can be way more challenging than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Actions to Consider in Selling Your Restaurant

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

#1 Put Together any Necessary Paperwork

This is a necessary preparatory step to make when you begin the process of marketing your Perris, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of a few general documents you may be requierd to have prepared:

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

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

You certainly do not want to show all these documents to a prospective buyer day one. But, you should have them ready because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Perris, California restaurant through the lens of a buyer. This provides you a clear picture of the Perris, California restaurant you're selling. In addition, it allows you to show whether there are any concerns you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial part of selling your Perris, California restaurant. That’s why you should make an effort to make your documents complete and well organized.

Offering your financial documents to prospective buyers could assist to clear any hesitations they may have regarding your Perris, California restaurant.

The 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 could make it easier for you to transmit the information to prospective buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items can create legal problems for you if a buyer later discovers these liabilities after closing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Perris, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Perris, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this will help them estimate the value of your Perris, California restaurant.

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

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

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

This will aid you in deriving the overall value of your Perris, California restaurant. When you understand the overall value this could help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Perris, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the general aesthetic of your Perris, California restaurant does not look good to buyers, they might take a pass right off the bat.

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

Spot-free windows, polished handles and a clean floor are also easy things that can help create a unforgettable first impression.

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

Non-functional equipment also raises doubt about your financial status and production capabilities. It may even dampen the morale of your employees, 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 prospective buyers regarding purchasing your Perris, California restaurant.

#7 Search for Perris Buyers

Looking for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Perris, California restaurant broker to help. The professional Perris, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this task alone, you will need to carry out appropriate advertising. You can market your Perris, California restaurant on business websites and let your family and friends know about your plans to market for sale your Perris, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer could walk into your Perris, California restaurant. Some buyers might even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your Perris, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The paperwork often begin with the Asset Purchase Agreement.

You may need your attorney’s expertise 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 Perris, California restaurant, assets and equipment as well as inventory value.

Choosing a Perris, California Restaurant Broker

Although attempting to sell your Perris, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

It's true, if you're looking to achieve the most out of the business deal, you need some level of expertise in order 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 Perris, California restaurant broker is recommended. A Perris, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Perris, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Perris, California Restaurant Broker

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

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

Perris Zip Codes We Support: 92570, 92571, 92572, 92585, 92586, 92587, 92599