Ready to Sell Your Reedley, California Restaurant?

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

Considering starting a different eatery, moving, or even retiring. No matter the reason, selling your Reedley, California restaurant can be way more challenging than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the time you’ve put into it.

Important Actions to Consider in Selling Your Restaurant

You can either think to hire a eatery broker to guide you in selling your Reedley, California restaurant or take on the task yourself. Whether considering selling your Reedley, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Business Paperwork

This is a necessary initial step to make when you begin the process of selling your Reedley, California restaurant.

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

• Gather your assets
• Lease contract
• 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 has the expertise to help you in the market for sale of your Reedley, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer first day. But, you should have them at hand because you will certainly need them during the sales process.

In addition, putting together these documents allows you to view your Reedley, California restaurant through the lens of a buyer. This provides you a clear picture of the Reedley, California restaurant you're selling. In addition, it allows you to identify if there are any concerns you will need to address.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial part of selling your Reedley, California restaurant. This is the reason you should make an effort to make your documents accurate and organized.

Offering your financial records to potential buyers may assist to clear any hesitations they might have regarding your Reedley, 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 duplicate copies of all of these records. This could make it easier for you to send the documentation to possible buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Reedley, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Reedley, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the value of your Reedley, California restaurant.

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

The estimated time it takes to sell a Reedley, California restaurant is six months. Within the six months, there are many things you can do to strengthen your profit and slash several costs, and therefore increase the worth of your Reedley, 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 estimate your assets.

This will aid you in coming up with the overall worth of your Reedley, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Reedley, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the general aesthetic of your Reedley, California restaurant does not appeal to buyers, they might pass over right off the bat.

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

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

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

Faulty equipment can raise doubt about your financial situation and output capabilities. It could even lower the mood 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 potential buyers regarding purchasing your Reedley, California restaurant.

#7 look for Reedley Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Reedley, California restaurant broker to help. The professional Reedley, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to take on this task yourself, you will need to create appropriate advertising. You can list your Reedley, California restaurant on business websites and let your family and friends know about your intentions to sell your Reedley, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer will walk into your Reedley, California restaurant. Some buyers may even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Reedley, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The paperwork will likely start with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Reedley, California Restaurant Broker

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

The fact remains, if you're looking to get the most out 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.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Reedley, California restaurant broker is recommended. A Reedley, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Reedley, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the help of a Reedley, California restaurant broker, you can focus your undivided attention on operating your Reedley, California restaurant and rest easy knowing that a professional is in charge of selling your Reedley, California restaurant.

Contact a Reedley, California Restaurant Broker

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

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

Reedley Zip Codes We Support: 93654