Right Time to Sell Your Placentia, California Restaurant?

Following years of sweat equity, you have made the decision sell your Placentia, California restaurant

Considering starting a different Placentia, California restaurant, moving, or even retiring. Regardless of the reason, selling your Placentia, California restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the labor you’ve put into it.

Important Steps to Take when Selling Your Restaurant

You may either make the decision to contract with a eatery broker to assist you in selling your Placentia, California restaurant or do the task yourself. Whether considering selling your Placentia, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Important Documentation

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

The required 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 on you:

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

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

You probably do not want to show all these documents to a prospective buyer first day. However, you should have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents allows you to see your Placentia, California restaurant through the lens of a buyer. This provides you a clear picture of the Placentia, California restaurant you're offering for sale. Furthermore, it helps you show whether there are any concerns you will have to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important detail of selling your Placentia, California restaurant. This is why you should make an effort to have these documents complete and organized.

Showing your financial documents to potential buyers may help clear any doubt they may have concerning your Placentia, California restaurant.

The financial documents may include:

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

Also, ensure you have hard copies of all of these documents. This may make it easier for you to send the documentation to possible buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Placentia, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Placentia, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps them estimate the value of the Placentia, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow planning to sell your Placentia, California restaurant.

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

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

This will aid you in coming up with the probable value of your Placentia, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Placentia, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Placentia, California restaurant does not appeal to buyers, they could take a pass right off the bat.

To prevent this from happening, everything in and out of your Placentia, California restaurant must be clean. Landscaped and a clean parking lot can help create curb appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are also simple things that can help create a unforgettable first impression.

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

Non-functional equipment could raise doubt about your financial situation and output abilities. It can even lower the morale of your employees, and in response, 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 purchasing your Placentia, California restaurant.

#7 look for Placentia Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Placentia, California restaurant broker to help. The professional Placentia, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project yourself, you will need to carry out proper advertising. You can offer your Placentia, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Placentia, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Placentia, California restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Placentia, California Restaurant

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

You should have your attorney’s expertise in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Placentia, California Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business transaction, you need some level of experience in order to stand out against the cometitors while attempting to attract buyers.

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

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

Contact a Placentia, California Restaurant Broker

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

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

Placentia Zip Codes We Support: 92870, 92871