Time to Sell Your Pico Rivera, California Restaurant?

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

Considering starting a different eatery, moving, or maybe retiring. Regardless of the reason, selling your Pico Rivera, California restaurant can be way more difficult than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the time you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

You may either decide to contract with a eatery broker to guide you in selling your Pico Rivera, California restaurant or do the task on your own. Whether considering selling your Pico Rivera, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together the Necessary Documentation

This is a necessary preparatory step to make when you start the process of offering your Pico Rivera, California restaurant.

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

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

Corbett Restaurant Group has the experience to help you in the sale of your Pico Rivera, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to show all these documents to a potrntial buyer right away. But, you may want to have them ready because you will eventually need them during the sales process.

In addition, putting together these documents lets you view your Pico Rivera, California restaurant through the lens of a buyer. This provides you a clear image of the Pico Rivera, California restaurant you are selling. In addition, it helps you show if there are any loopholes you will need to address.

#2 Get Your Financial Records in Order

Your financial documents are an important aspect of selling your Pico Rivera, California restaurant. This is the reason you should make it a priority to have these documents complete and well organized.

Showing your financial documents to potential buyers may help clear any hesitations they may have concerning your Pico Rivera, California restaurant.

The financial records can include:

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

Also, make sure you have soft copies of all of the documents. This will make it easier for you to transmit the information to potential buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items may create legal issues for you if a buyer later discovers these ommissions post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Pico Rivera, California restaurant, you need to review of your commercial lease. It could be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Pico Rivera, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the value of the Pico Rivera, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your Pico Rivera, California restaurant.

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

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in deriving the probable value of your Pico Rivera, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Pico Rivera, California restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the overall look of your Pico Rivera, California restaurant does not appeal to buyers, they might take a pass immediately.

To prevent this from happening, all things in and out of your Pico Rivera, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot could help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are other easy things that would help create a memorable initial impression.

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

Faulty equipment could raise doubt about your financial status and production abilities. It may even lower the morale of your staff, which 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 Pico Rivera, California restaurant.

#7 Search for Pico Rivera Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Pico Rivera, California restaurant broker to help. A professional Pico Rivera, California restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create proper advertising. You can offer your Pico Rivera, California restaurant on listing websites and tell family and friends about your plans to market for sale your Pico Rivera, California restaurant.

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

#8 Be Ready

Whether you decide to sell your Pico Rivera, California restaurant yourself, or through a Pico Rivera, California restaurant broker, you should always be prepared. Be ready to show your Pico Rivera, California restaurant to potential buyers at all times.

You never know when a buyer could walk into your Pico Rivera, California restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your Pico Rivera, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the deal. The paperwork often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Pico Rivera, California Restaurant Broker

While attempting to sell your Pico Rivera, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business deal, you need a higher level of expertise to stand out against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Pico Rivera, California restaurant broker comes in. A Pico Rivera, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Pico Rivera, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Pico Rivera, California Restaurant Broker

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

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

Pico Rivera Zip Codes We Support: 90601, 90606, 90640, 90660, 90661, 90662