Ready to Sell Your Ridgecrest, California Restaurant?

Following years of labor, you have made the decision sell your Ridgecrest, California restaurant

Considering starting a different Ridgecrest, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Ridgecrest, California restaurant can be a lot more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you may have put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either decide to hire a Ridgecrest, California restaurant broker to help you in selling your Ridgecrest, California restaurant or do the task on your own. If you are considering selling your Ridgecrest, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather all Necessary Paperwork

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

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

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

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

You probably do not want to show all these documents to a prospective buyer right away. However, you may want to have them at hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to see your Ridgecrest, California restaurant through the lens of a buyer. This gives you a clear image of the Ridgecrest, California restaurant you are selling. In addition, it allows you to identify whether there are any concerns you will need to take care of.

#2 Put Your Financial Records in Order

Your financial records are an important aspect of selling your Ridgecrest, California restaurant. That’s why you should make an effort to have your documents complete and well organized.

Offering your financial records to prospective buyers could aid clear any hesitations they might have regarding your Ridgecrest, California restaurant.

The financial records may include:

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

In addition, make sure you have soft copies of all of these documents. This may make it easier for you to send the information to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these liabilities after signing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Ridgecrest, California restaurant, you need to understand of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Ridgecrest, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this helps them evaluate the value of the Ridgecrest, 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 planning to sell your Ridgecrest, California restaurant.

The average time it takes to sell a Ridgecrest, California restaurant is 6 months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and therefore strengthen the worth of your Ridgecrest, California restaurant.

Also, 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 deriving the overall worth of your Ridgecrest, California restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Ridgecrest, California restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall appearance of your Ridgecrest, California restaurant does not appeal to buyers, they might pass over without a second look.

To avoid this from happening, everything in and out of your Ridgecrest, California restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also small items that can help create a memorable first impression.

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

Faulty equipment could raise doubt about your financial status and production capabilities. It may even dampen the excitment of your staff, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Ridgecrest, California restaurant.

#7 look for Ridgecrest Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Ridgecrest, California restaurant broker to help. A professional Ridgecrest, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this project yourself, you will need to carry out appropriate advertising. You can show your Ridgecrest, California restaurant on business websites and let your family and friends know about your plans to market for sale your Ridgecrest, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Ridgecrest, California Restaurant

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

You may need your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

This document includes details such as the selling price of your Ridgecrest, California restaurant, assets and equipment and inventory value.

Choosing a Ridgecrest, California Restaurant Broker

Although trying to sell your Ridgecrest, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

It's true, if you're looking to achieve the most from of the business transaction, you need a higher level of experience in order to stand above and against your cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Ridgecrest, California restaurant broker is needed. A Ridgecrest, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Ridgecrest, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Ridgecrest, California Restaurant Broker

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

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

Ridgecrest Zip Codes We Support: 93555, 93556