Right Time to Sell Your Petaluma, California Restaurant?

After years of labor, you have made the decision sell your Petaluma, California restaurant

Considering starting a different Petaluma, California restaurant, moving, or maybe retiring. No matter the reason, selling a Petaluma, California restaurant can be a lot more complicated than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the sweat you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Gather the Business Paperwork

This is an important first step to make when you commence the process of offering your Petaluma, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of some standard documents you may need to have ready:

• Gather 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 has the expertise to assist you in the sale of your Petaluma, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a prospective buyer first day. However, you should have them ready because you will certainly need them during the sales process.

In addition, compiling these documents lets you see your Petaluma, California restaurant through the lens of a buyer. It gives you a clear picture of the Petaluma, California restaurant you are selling. Furthermore, it helps you identify if there are any areas you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial part of selling your Petaluma, California restaurant. That’s the reason you should make an effort to have these documents accurate and organized.

Offering your financial records to prospective buyers may assist to clear any doubt they may have concerning your Petaluma, California restaurant.

Your financial records can include:

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

In addition, make sure you have soft copies of all of the records. This can make it easier for you to send the documentation to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Petaluma, California restaurant, you need to understand 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 may advisable to have a discussion with your landlord concerning your plan to sell your Petaluma, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the value of your Petaluma, California restaurant.

This will be in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow planning to sell your Petaluma, California restaurant.

The estimated time it may take to sell a Petaluma, California restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and slash various costs, and therefore increase the worth of your Petaluma, California restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This may assist you in deriving the probable worth of your Petaluma, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Petaluma, California restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the overall look of your Petaluma, California restaurant does not look good to buyers, they might take a pass without consideration.

To avoid this from happening, all things in and out of your Petaluma, California restaurant must be clean. Landscaping and a clean parking area may help create curb appeal for potential buyers.

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

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working, it may send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and output abilities. It could even dampen the morale of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Petaluma Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Petaluma, California restaurant broker to help. The professional Petaluma, California restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this task alone, you will need to carry out proper advertising. You can show your Petaluma, California restaurant on listing websites and tell family and friends about your intentions to sell your Petaluma, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Petaluma, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

You may need 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 contract.

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

Choosing a Petaluma, California Restaurant Broker

Although trying to sell your Petaluma, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to achieve the most from of the business transaction, you need a higher level of expertise to stand above and against your competition while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Petaluma, California restaurant broker comes in. A Petaluma, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Petaluma, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Petaluma, California Restaurant Broker

Deciding to sell your Petaluma, California restaurant through a Petaluma, California restaurant broker has many advantages. First, however, you need to select the best Petaluma, California restaurant broker to assist you in selling your Petaluma, California restaurant.

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

Petaluma Zip Codes We Support: 94952, 94953, 94954, 94955, 94975, 94999