Ready to Sell Your Porterville, California Restaurant?

After years of labor, you have made the decision sell your Porterville, California restaurant

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

Necessary Steps to Consider when Selling Your Restaurant

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

#1 Gather all Important Documentation

This is an important initial step to take when you commence the process of offering your Porterville, California restaurant.

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

• A list of your assets
• Lease document
• 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 comes with experience to help you in the sale of your Porterville, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a prospective buyer first day. But, you may want to have them on hand because you will certainly require them during the sales process.

Also, putting together these documents allows you to view your Porterville, California restaurant through the lens of a buyer. This provides you a clear image of the Porterville, California restaurant you're offering for sale. Furthermore, it helps you show if there are any concerns you will have to take care of.

#2 Get Your Financials in Order

Your financial records are a crucial aspect of selling your Porterville, California restaurant. That’s why you should make an effort to make your documents complete and well organized.

Showing your financial records to potential buyers could assist to clear any hesitations they may have concerning your Porterville, California restaurant.

The 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 soft copies of all of these records. This may make it easier for you to transmit the documentation to prospective buyers.

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

#3 Organize the Information On Your Commercial Lease

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

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this helps them estimate the value of the Porterville, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your Porterville, California restaurant.

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

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

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

#5 Increase Curb Appeal

The first impression of your Porterville, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Porterville, California restaurant does not appeal to buyers, they might take a pass immediately.

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

Clean windows, polished handles and a presentable floor are also small items that can help create a unforgettable initial impression.

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

Non-functional equipment could raise doubt about your financial status and output capabilities. It can even dampen the mood of your staff, 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 prospective buyers regarding buying your Porterville, California restaurant.

#7 Search for Porterville Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Porterville, California restaurant broker to help. A professional Porterville, California restaurant broker will come with recommendations for saving time & money 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 show your Porterville, California restaurant on listing websites and let your family and friends know about your plans to sell your Porterville, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Porterville, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The paperwork often start with the Asset Purchase Agreement.

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

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

Choosing a Porterville, California Restaurant Broker

Although attempting to sell your Porterville, 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 from of the business deal, you need a higher level of experience to stand out against the competition while attempting to attract buyers.

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

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

Contact a Porterville, California Restaurant Broker

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

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

Porterville Zip Codes We Support: 93257