Are You Ready to Sell Your Riverbank, California Restaurant?

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

Considering opening a different Riverbank, California restaurant, moving, or maybe slowing down. No matter the reason, selling a Riverbank, California restaurant can be a lot more difficult than you may think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the labor you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either think to contract with a Riverbank, California restaurant broker to assist you in selling your Riverbank, California restaurant or do the task on your own. Whether considering selling your Riverbank, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather the Business Paperwork

This is an important first step to make when you start the process of marketing your Riverbank, 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 ready:

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

Corbett Restaurant Group has the experience to help you in the sale of your Riverbank, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, putting together these documents lets you view your Riverbank, California restaurant through the lens of a buyer. This provides you a clear picture of the Riverbank, California restaurant you are offering for sale. In addition, it helps you show whether there are any areas you'll need to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Riverbank, California restaurant. That’s why you should make it a priority to make these documents complete and organized.

Showing your financial documents to potential buyers could help clear any hesitations they might have regarding your Riverbank, California restaurant.

Your financial documents could 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 the documents. This will make it easier for you to send the documentation to possible buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these things can create legal issues for you if a buyer later on discovers these ommissions post closing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Riverbank, California restaurant, you need to understand 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 concerning your plan to sell your Riverbank, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of your Riverbank, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow starting to sell your Riverbank, California restaurant.

The estimated time it may take to sell a Riverbank, California restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and cut various costs, and therefore increase the value of your Riverbank, 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 value your assets.

This will help you in deriving the probable value of your Riverbank, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Riverbank, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the overall curb appeal of your Riverbank, California restaurant does not appeal to buyers, they might pass over immediately.

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

Clean windows, polished handles and a neat floor are also small things that could help create a memorable first impression.

Furthermore, you should make sure all your equipment is in top condition. If your equipment is not working, it can convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial situation and production capabilities. It can even dampen the excitment of your staff, and in turn, 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 Riverbank, California restaurant.

#7 look for Riverbank Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire a professional Riverbank, California restaurant broker to help. The professional Riverbank, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this task yourself, you will need to create appropriate advertising. You can market your Riverbank, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Riverbank, California restaurant.

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

#8 Be Ready

Whether you decide to sell your Riverbank, California restaurant yourself, or through a Riverbank, California restaurant broker, you should always be prepared. Be prepared to show your Riverbank, California restaurant to prospective buyers at all times.

You never know when a buyer will visit your Riverbank, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Riverbank, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Riverbank, California Restaurant Broker

Although trying to sell your Riverbank, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business deal, you need some level of expertise in order to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Riverbank, California restaurant broker comes in. A Riverbank, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Riverbank, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

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

Contact a Riverbank, California Restaurant Broker

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

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

Riverbank Zip Codes We Support: 95357, 95361, 95367