Decided to Sell Your Pomona, California Restaurant?

Following years of labor, you have made the decision sell your Pomona, California restaurant

Contemplating starting a new eatery, relocating, or even retiring. Regardless of the reason, selling a Pomona, California restaurant can be a lot more challenging than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the labor you may have put into it.

Important Actions to Consider in Selling Your Restaurant

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

#1 Gather all Necessary Documentation

This is a necessary initial step to make when you begin the process of offering your Pomona, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of a few standard documents you may be requierd to have at hand:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Pomona, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show the majority of these documents to a possible buyer right away. But, you may want to have them ready because you will eventually require them during the sales process.

Also, putting together these documents lets you see your Pomona, California restaurant through the lens of a buyer. It provides you a clear image of the Pomona, California restaurant you are offering for sale. In addition, it allows you to show whether there are any loopholes you will have to take care of.

#2 Get Your Financials in Order

Your financial documents are a crucial part of selling your Pomona, California restaurant. This is why you should make an effort to make your documents complete and organized.

Showing your financial records to potential buyers could help clear any doubt they might have regarding your Pomona, California restaurant.

Your financial records could include:

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

In addition, ensure you have soft copies of all of these records. This will make it easier for you to transmit the records to possible buyers.

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

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Pomona, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the true value of the Pomona, California restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Pomona, California restaurant.

The average time it may take to sell a Pomona, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and cut various costs, and thus strengthen the worth of your Pomona, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could help you in coming up with the overall worth of your Pomona, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Pomona, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall appearance of your Pomona, California restaurant does not look good to buyers, they likely take a pass right off the bat.

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

Spot-free windows, polished handles and a clean floor are also simple things that would help create a great initial impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it might 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 dampen the mood of your employees, which in response, negatively affect your output and effect your profit and loss statement.

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

#7 Search for Pomona Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional Pomona, California restaurant broker to help. A professional Pomona, California restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this task by yourself, you will need to carry out appropriate advertising. You can show your Pomona, California restaurant on listing websites and let your family and friends know about your intentions to sell your Pomona, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer will visit your Pomona, California restaurant. Some buyers may even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Pomona, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Pomona, California Restaurant Broker

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

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

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Pomona, California restaurant broker is recommended. A Pomona, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Pomona, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Pomona, California Restaurant Broker

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

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

Pomona Zip Codes We Support: 91750, 91765, 91766, 91767, 91768, 91769, 91789, 91799