Are You Ready to Sell Your Redlands, California Restaurant?

After years of hard work, you have made the decision sell your Redlands, California restaurant

Contemplating starting a new eatery, moving, or maybe retiring. No matter the reason, selling a Redlands, California restaurant can be way more challenging than you might realize. Thats because it takes careful preparation and a solid strategy to successfully exit with enough money for all the sweat you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

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

#1 Put Together any Important Paperwork

This is a necessary first step to make when you start the process of marketing your Redlands, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Redlands, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

Also, compiling these documents allows you to view your Redlands, California restaurant through the lens of a buyer. This provides you a clear image of the Redlands, California restaurant you are selling. In addition, it helps you identify if there are any loopholes you'll have to address.

#2 Get Your Financials in Order

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

Offering your financial records to potential buyers may aid clear any hesitations they might have regarding your Redlands, California restaurant.

These financial documents may include:

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

Also, make sure you have duplicate copies of all of these documents. This can make it easier for you to send the documentation to potential buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items could create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Redlands, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Redlands, California restaurant.

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

The average time it takes to sell a Redlands, California restaurant is six months. Within those six months, there are several things you can do to strengthen your profit and reduce various costs, and therefore increase the worth of your Redlands, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will help you in deriving the overall worth of your Redlands, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Redlands, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general aesthetic of your Redlands, California restaurant does not look good to buyers, they could pass over without a second look.

To avoid this from happening, all things in and out of your Redlands, California restaurant must be clean. Landscaped and a clean parking lot may help create curb appeal for potential buyers.

Clean windows, polished handles and a clean floor are also small items that can help create a great first impression.

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

Faulty equipment may rouse doubt about your financial situation and output capabilities. It can 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 Redlands, California restaurant.

#7 look for Redlands Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Redlands, California restaurant broker to help. The professional Redlands, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to handle this project alone, you will need to create appropriate advertising. You can show your Redlands, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Redlands, California restaurant.

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

#8 Be Prepared

If you decide to sell your Redlands, California restaurant yourself, or through a Redlands, California restaurant broker, you need to always be ready. Be prepared to show your Redlands, California restaurant to prospective buyers at all times.

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

#9 Sell Your Redlands, California Restaurant

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

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

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

Choosing a Redlands, California Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business transaction, you need a higher level of experience to stand out against the competition while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Redlands, California restaurant broker is recommended. A Redlands, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Redlands, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a Redlands, California Restaurant Broker

Choosing to sell your Redlands, California restaurant through a Redlands, California restaurant broker has multiple advantages. First, however, you need to select the best Redlands, California restaurant broker to assist you in selling your Redlands, California restaurant.

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

Redlands Zip Codes We Support: 92346, 92359, 92373, 92374, 92375, 92399