Are You Ready to Sell Your Port Hueneme, California Restaurant?

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

Considering starting a new Port Hueneme, California restaurant, moving, or even retiring. Regardless of the reason, selling a Port Hueneme, California restaurant can be way more difficult than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the labor you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You can either make the decision to hire a Port Hueneme, California restaurant broker to help you in selling your Port Hueneme, California restaurant or take on the task on your own. Whether considering selling your Port Hueneme, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together any Necessary Documentation

This is an important initial step to take when you commence the process of selling your Port Hueneme, California restaurant.

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

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

Corbett Restaurant Group comes with expertise to assist you in the market for sale of your Port Hueneme, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show the majority of these documents to a possible buyer right away. But, you may want to have them on hand because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Port Hueneme, California restaurant through the lens of a buyer. It provides you a clear picture of the Port Hueneme, California restaurant you're offering for sale. In addition, it helps you identify if there are any areas you'll need to take care of.

#2 Get Your Financials in Order

Your financial records are an important part of selling your Port Hueneme, California restaurant. This is the reason you should strive to have these documents accurate and organized.

Showing your financial records to potential buyers could help clear any hesitations they may have regarding your Port Hueneme, California restaurant.

The financial documents may 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 may make it easier for you to transmit the documentation to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things could create legal issues for you if a buyer later on discovers these ommissions after signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Port Hueneme, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the true value of the Port Hueneme, California restaurant.

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow before trying to sell your Port Hueneme, California restaurant.

The average time it may take to sell a Port Hueneme, California restaurant is six months. Within the six months, there are many things you can do to strengthen your profit and cut several costs, and thus strengthen the worth of your Port Hueneme, 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 help you in estimating the overall value of your Port Hueneme, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Port Hueneme, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Port Hueneme, California restaurant does not look good to buyers, they might pass over without consideration.

To prevent this from happening, all things in and out of your Port Hueneme, California restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create appeal for prospective buyers.

Clean windows, polished handles and a neat floor are other small items that can help create a great initial impression.

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

Faulty equipment can raise doubt about your financial situation and production abilities. It could even dampen the excitment 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 concerning buying your Port Hueneme, California restaurant.

#7 look for Port Hueneme Buyers

Marketing to prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Port Hueneme, California restaurant broker to help. The professional Port Hueneme, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this project by yourself, you will need to carry out appropriate advertising. You can show your Port Hueneme, California restaurant on listing websites and let your family and friends know about your intentions to sell your Port Hueneme, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Port Hueneme, California restaurant yourself, or with a a Port Hueneme, California restaurant broker, you need to always be prepared. Be ready to show your Port Hueneme, California restaurant to potential buyers at all times.

You never know when a buyer could walk into your Port Hueneme, California restaurant. Some buyers might even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your Port Hueneme, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

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

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

Choosing a Port Hueneme, California Restaurant Broker

While attempting to sell your Port Hueneme, California restaurant on your own can be an exciting project, it could also be very risky, especially for first-timers.

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 out against your competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Port Hueneme, California restaurant broker is recommended. A Port Hueneme, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Port Hueneme, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

With the assistance of a Port Hueneme, California restaurant broker, you can focus your undivided attention on operating your Port Hueneme, California restaurant and rest assured knowing that a professional is in charge of selling your Port Hueneme, California restaurant.

Contact a Port Hueneme, California Restaurant Broker

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

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

Port Hueneme Zip Codes We Support: 93041, 93043, 93044