Are You Ready to Sell Your Redondo Beach, California Restaurant?

After years of sweat equity, you have made the decision sell your Redondo Beach, California restaurant

Considering opening a new eatery, relocating, or maybe retiring. Regardless of the reason, selling your Redondo Beach, California restaurant can be a lot more difficult than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

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

#1 Gather the Business Paperwork

This is a necessary first step to take when you commence the process of marketing your Redondo Beach, 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 on you:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Redondo Beach, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to reveal all these documents to a prospective buyer right away. But, you may want to have them at hand because you will certainly require them during the sales process.

In addition, putting together these documents allows you to view your Redondo Beach, California restaurant through the lens of a buyer. This gives you a clear picture of the Redondo Beach, California restaurant you are offering for sale. 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 documents are an important detail of selling your Redondo Beach, California restaurant. This is the reason you should make an effort to have your documents complete and well organized.

Offering your financial records to possible buyers may aid clear any hesitations they may have regarding your Redondo Beach, California restaurant.

Your financial records could include:

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

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

Likewise, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these ommissions post closing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Redondo Beach, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps them estimate the true value of the Redondo Beach, California restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow before trying to sell your Redondo Beach, California restaurant.

The average time it may take to sell a Redondo Beach, California restaurant is 6 months. Within those six months, there is a lot you can do to strengthen your profit and slash several costs, and thus strengthen the worth of your Redondo Beach, California restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will help you in coming up with the overall value of your Redondo Beach, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Redondo Beach, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the general appearance of your Redondo Beach, California restaurant does not appeal to buyers, they could pass over immediately.

To avoid this from happening, everything in and out of your Redondo Beach, California restaurant must be cleaned and maintained. Landscaped and a clean parking area may help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are other easy things that can help create a memorable initial impression.

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working properly, 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 capabilities and production abilities. It may even lower the morale of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Redondo Beach, California restaurant.

#7 Search for Redondo Beach Buyers

Marketing to prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Redondo Beach, California restaurant broker to help. The professional Redondo Beach, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can show your Redondo Beach, California restaurant on listing websites and tell family and friends about your plans to sell your Redondo Beach, California restaurant.

As you will probably run across competition when trying to sell your Redondo Beach, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You never know when a buyer will visit your Redondo Beach, California restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Redondo Beach, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the deal. The documentation will likely begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Redondo Beach, California Restaurant Broker

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

The fact remains, in order for you to get the most from of the business deal, you need a higher level of expertise in order to stand above and against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Redondo Beach, California restaurant broker is recommended. A Redondo Beach, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Redondo Beach, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Redondo Beach, California Restaurant Broker

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

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

Redondo Beach Zip Codes We Support: 90261, 90277, 90278