Ready to Sell Your Rancho Palos Verdes, California Restaurant?

After years of labor, you have made the decision sell your Rancho Palos Verdes, California restaurant

Contemplating starting a new eatery, moving, or maybe retiring. Regardless of the reason, selling your Rancho Palos Verdes, California restaurant can be way more challenging than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough profit for all the sweat you’ve put into it.

Necessary Steps to Take in Selling Your Restaurant

You may either decide to hire a eatery broker to help you in selling your Rancho Palos Verdes, California restaurant or take on the task yourself. If you are considering selling your Rancho Palos Verdes, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Business Documentation

This is an important preparatory step to take when you start the process of selling your Rancho Palos Verdes, California restaurant.

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

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

Corbett Restaurant Group comes with expertise to assist you in the sale of your Rancho Palos Verdes, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a potrntial buyer first day. But, you should have them ready because you will eventually need them during the sales process.

Also, putting together these documents lets you see your Rancho Palos Verdes, California restaurant through the lens of a buyer. This provides you a clear image of the Rancho Palos Verdes, California restaurant you're selling. Furthermore, it allows you to show if there are any concerns you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Rancho Palos Verdes, California restaurant. This is the reason you should make it a priority to make these documents accurate and organized.

Showing your financial documents to possible buyers may help clear any doubt they may have regarding your Rancho Palos Verdes, California restaurant.

Your financial records could 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 these records. This will make it easier for you to send the documentation to prospective buyers.

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

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Rancho Palos Verdes, California restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Rancho Palos Verdes, California restaurant and to potentially 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 will help them evaluate the value of your Rancho Palos Verdes, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build your cash flow planning to sell your Rancho Palos Verdes, California restaurant.

The estimated time it may take to sell a Rancho Palos Verdes, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and thus increase the value of your Rancho Palos Verdes, California restaurant.

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

This could aid you in deriving the probable worth of your Rancho Palos Verdes, 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 Rancho Palos Verdes, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Rancho Palos Verdes, California restaurant does not appeal to buyers, they likely pass over without a second look.

To avoid this from happening, all things in and out of your Rancho Palos Verdes, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create appeal for potential buyers.

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

Furthermore, you should ensure all your equipment is in satisfactory condition. If your equipment is not working properly, it may convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial status and output capabilities. It could even dampen the mood of your employees, and in response, 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 Rancho Palos Verdes, California restaurant.

#7 Search for Rancho Palos Verdes Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Rancho Palos Verdes, California restaurant broker to help. The professional Rancho Palos Verdes, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to create appropriate advertising. You can show your Rancho Palos Verdes, California restaurant on listing websites and tell family and friends about your intentions to sell your Rancho Palos Verdes, California restaurant.

As you will probably come across competition when trying to sell your Rancho Palos Verdes, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Rancho Palos Verdes, California restaurant yourself, or with a a Rancho Palos Verdes, California restaurant broker, you need to always be prepared. Be prepared to show your Rancho Palos Verdes, California restaurant to prospective buyers at all times.

You will never know when a buyer could walk into your Rancho Palos Verdes, California restaurant. Some buyers might even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Rancho Palos Verdes, 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 contract. The paperwork often begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details such as the selling price of your Rancho Palos Verdes, California restaurant, assets and equipment as well as inventory value.

Choosing a Rancho Palos Verdes, California Restaurant Broker

While trying to sell your Rancho Palos Verdes, California restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business transaction, you need a higher level of expertise to stand above and against your competition while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Rancho Palos Verdes, California restaurant broker comes in. A Rancho Palos Verdes, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Rancho Palos Verdes, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Rancho Palos Verdes, California Restaurant Broker

Choosing to sell your Rancho Palos Verdes, California restaurant through a Rancho Palos Verdes, California restaurant broker has multiple advantages. First, however, you need to select the best Rancho Palos Verdes, California restaurant broker to help you in selling your Rancho Palos Verdes, California restaurant.

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

Rancho Palos Verdes Zip Codes We Support: 90275