Decided to Sell Your Rancho San Diego, California Restaurant?

After years of labor, you have decided to sell your Rancho San Diego, California restaurant

Contemplating opening a new Rancho San Diego, California restaurant, moving, or even retiring. Regardless of the reason, selling your Rancho San Diego, California restaurant can be way more complicated than you may think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either decide to contract with a eatery broker to assist you in selling your Rancho San Diego, California restaurant or do the task yourself. If you are considering selling your Rancho San Diego, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together the Necessary Paperwork

This is an important initial step to take when you begin the process of marketing your Rancho San Diego, California restaurant.

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

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

You probably do not want to reveal the majority of these documents to a potrntial buyer right away. But, you may want to have them at hand because you will certainly require them during the sales process.

Also, compiling these documents allows you to see your Rancho San Diego, California restaurant through the lens of a buyer. It gives you a clear image of the Rancho San Diego, California restaurant you're selling. In addition, it allows you to show if there are any loopholes you'll need to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important aspect of selling your Rancho San Diego, California restaurant. This is the reason you should strive to make your documents complete and organized.

Showing your financial documents to prospective buyers could assist to clear any hesitations they might have concerning your Rancho San Diego, California restaurant.

These financial documents can include:

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

In addition, ensure you have hard copies of all of these documents. This may make it easier for you to transmit the records to potential buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things may create legal problems for you if a buyer later discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

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

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Rancho San Diego, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this will help them estimate the value of the Rancho San Diego, California restaurant.

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

The average time it takes to sell a Rancho San Diego, California restaurant is 6 months. Within the six months, there are several things you can do to strengthen your profit and reduce various costs, and thus increase the value of your Rancho San Diego, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could help you in coming up with the probable value of your Rancho San Diego, California restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Rancho San Diego, California restaurant could go a great distance in helping you bring potential buyers. Conversely, if the general aesthetic of your Rancho San Diego, California restaurant does not look good to buyers, they might take a pass without a second look.

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

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

Additionally, you should ensure that all the equipment is in top condition. If your equipment is not functioning, it might send 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 production abilities. It can even dampen the excitment of your employees, which 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 buying your Rancho San Diego, California restaurant.

#7 Search for Rancho San Diego Buyers

Looking 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 Rancho San Diego, California restaurant broker to help. A professional Rancho San Diego, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this project yourself, you will need to carry out appropriate advertising. You can offer your Rancho San Diego, California restaurant on listing websites and let your family and friends know about your intentions to sell your Rancho San Diego, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Rancho San Diego, California restaurant yourself, or through a Rancho San Diego, California restaurant broker, you need to always be ready. Be prepared to show your Rancho San Diego, California restaurant to potential buyers at all times.

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

#9 Sell Your Rancho San Diego, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the contract. The documentation will usually start with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the contract.

This agreement includes details such as the selling price of your Rancho San Diego, California restaurant, items and equipment as well as inventory value.

Choosing a Rancho San Diego, California Restaurant Broker

While trying to sell your Rancho San Diego, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business transaction, you need some level of expertise to stand above and against your cometitors while attempting to attract buyers.

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

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

Contact a Rancho San Diego, California Restaurant Broker

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

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

Rancho San Diego Zip Codes We Support: 91941, 92019, 92020