Decided to Sell Your Redding, California Restaurant?

Following years of hard work, you have made the decision sell your Redding, California restaurant

Considering starting a new eatery, relocating, or even slowing down. No matter the reason, selling a Redding, California restaurant can be a lot more challenging than you may think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the time you may have put into it.

Important Steps to Take when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Redding, California restaurant or do the task on your own. Whether considering selling your Redding, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together all Necessary Documentation

This is a necessary preparatory step to take when you start the process of marketing your Redding, California restaurant.

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

• 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 has the experience to assist you in the market for sale of your Redding, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to reveal all these documents to a possible buyer first day. But, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you view your Redding, California restaurant through the lens of a buyer. It gives you a clear image of the Redding, California restaurant you are selling. Furthermore, it allows you to identify whether there are any concerns you will have to take care of.

#2 Put Your Financials in Order

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

Showing your financial records to prospective buyers could help clear any hesitations they might have regarding your Redding, California restaurant.

Your financial documents could include:

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

In addition, make sure you have duplicate copies of all of these documents. This can make it easier for you to send the records to possible buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these items could create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Redding, 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 could be advisable to have a discussion with your landlord regarding your plan to sell your Redding, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this will help them estimate the true value of your Redding, 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 planning to sell your Redding, California restaurant.

The estimated time it may take to sell a Redding, California restaurant is six months. Within those six months, there is a lot you can do to strengthen your profit and slash several costs, and thus strengthen the value of your Redding, California restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This may help you in estimating the probable value of your Redding, California restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Redding, California restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Redding, California restaurant does not appeal to buyers, they might pass over immediately.

To prevent this from happening, everything in and out of your Redding, California restaurant must be cleaned and maintained. Manicured and a clean parking area can help create appeal for prospective buyers.

Clean windows, polished handles and a neat floor are other easy things that can help create a great first impression.

Additionally, you should ensure all your equipment is in top condition. If your equipment is not functioning, it might convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial capabilities and output capabilities. It could even lower the mood of your employees, and 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 regarding buying your Redding, California restaurant.

#7 look for Redding Buyers

Marketing to potential buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced Redding, California restaurant broker to help. The professional Redding, 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 alone, you will need to create appropriate advertising. You can list your Redding, California restaurant on business websites and let your family and friends know about your plans to sell your Redding, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Redding, California restaurant. Some buyers may even visit as customers just to carry out some research before contacting you.

#9 Sell Your Redding, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

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

This document includes details including the selling price of your Redding, California restaurant, items and equipment and inventory value.

Choosing a Redding, California Restaurant Broker

While trying to sell your Redding, California restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

It's true, in order for you to achieve the most out of the business transaction, you need a higher level of experience to stand above and against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Redding, California restaurant broker is needed. A Redding, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Redding, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Redding, California Restaurant Broker

Deciding to sell your Redding, California restaurant through a Redding, California restaurant broker has multiple advantages. First, however, you need to select the best Redding, California restaurant broker to help you in selling your Redding, California restaurant.

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

Redding Zip Codes We Support: 96001, 96002, 96003, 96007, 96019, 96049, 96099