Ready to Sell Your Rosemead, California Restaurant?

Following years of labor, you have decided to sell your Rosemead, California restaurant

Contemplating opening a new eatery, moving, or maybe slowing down. No matter the reason, selling a Rosemead, California restaurant can be a lot more difficult than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the time you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either decide to hire a eatery broker to help you in selling your Rosemead, California restaurant or take on the task on your own. If you are considering selling your Rosemead, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Necessary Documentation

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

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

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

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

You certainly do not want to show all these documents to a possible buyer first day. But, you should have them ready because you will eventually need them during the sales process.

Also, putting together these documents allows you to see your Rosemead, California restaurant through the lens of a buyer. This gives you a clear picture of the Rosemead, California restaurant you're selling. In addition, it allows you to show if there are any loopholes you'll need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial aspect of selling your Rosemead, California restaurant. That’s the reason you should make it a priority to have your documents complete and well organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they may have concerning your Rosemead, California restaurant.

The financial documents could include:

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

Also, ensure you have soft copies of all of these records. This can make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Rosemead, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this helps them estimate the true value of your Rosemead, California restaurant.

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

The estimated time it may take to sell a Rosemead, California restaurant is 6 months. Within the six months, there are several things you can do in order to strengthen your profit and slash several costs, and therefore strengthen the value of your Rosemead, California restaurant.

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

This could assist you in estimating the overall worth of your Rosemead, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Rosemead, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the general look of your Rosemead, California restaurant does not appeal to buyers, they could pass over right off the bat.

To avoid this from happening, everything in and out of your Rosemead, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot can help create curb appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are other small items that would help create a unforgettable initial impression.

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

Faulty equipment may rouse doubt about your financial capabilities and output abilities. It can even lower the mood of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning buying your Rosemead, California restaurant.

#7 look for Rosemead Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Rosemead, California restaurant broker to help. The professional Rosemead, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this task alone, you will need to create appropriate advertising. You can offer your Rosemead, California restaurant on business websites and tell family and friends about your intentions to market for sale your Rosemead, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Rosemead, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Rosemead, California Restaurant Broker

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

It's true, if you're looking to get the most from of the business transaction, you need a higher level of expertise to stand out against your competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Rosemead, California restaurant broker is needed. A Rosemead, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Rosemead, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Rosemead, California Restaurant Broker

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

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

Rosemead Zip Codes We Support: 90640, 91770, 91771, 91772, 91776