Decided to Sell Your Pittsburg, California Restaurant?

After years of labor, you have decided to sell your Pittsburg, California restaurant

Considering starting a new Pittsburg, California restaurant, relocating, or even slowing down. Regardless of the reason, selling a Pittsburg, California restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the sweat you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either decide to hire a eatery broker to assist you in selling your Pittsburg, California restaurant or take on the task on your own. Whether considering selling your Pittsburg, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Important Paperwork

This is a necessary preparatory step to take when you commence the process of selling your Pittsburg, 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 find helpful to have at hand:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Pittsburg, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, putting together these documents allows you to view your Pittsburg, California restaurant through the lens of a buyer. It gives you a clear picture of the Pittsburg, California restaurant you are selling. Furthermore, it allows you to show whether there are any concerns you'll have to address.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Pittsburg, California restaurant. This is why you should strive to make these documents complete and organized.

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

These financial documents may 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 the records. This may make it easier for you to send the documentation to potential buyers.

Also, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal problems for you if a buyer later discovers these liabilities post sealing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Pittsburg, California restaurant, you need to review of your commercial lease. It would be devestating 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 Pittsburg, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the value of the Pittsburg, California restaurant.

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

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

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could help you in deriving the probable value of your Pittsburg, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Pittsburg, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your Pittsburg, California restaurant does not appeal to buyers, they likely take a pass right off the bat.

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

Clean windows, polished door handles and a presentable floor are also easy items that could help create a unforgettable first impression.

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

Faulty equipment could raise doubt about your financial capabilities and production abilities. It may even lower the morale of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Pittsburg 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 an experienced Pittsburg, California restaurant broker to help. A professional Pittsburg, California restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out appropriate advertising. You can market your Pittsburg, California restaurant on listing websites and let your family and friends know about your intentions to sell your Pittsburg, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could walk into your Pittsburg, California restaurant. Some buyers might even come in as customers just to carry out some research before contacting you.

#9 Sell Your Pittsburg, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the contract. The paperwork will likely 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 detail of the transaction.

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

Choosing a Pittsburg, California Restaurant Broker

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

The fact remains, in order for you to achieve the most out of the business deal, you need a higher level of experience in order to stand out against the cometitors while attempting to attract buyers.

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

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

Contact a Pittsburg, California Restaurant Broker

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

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

Pittsburg Zip Codes We Support: 94509, 94565