Right Time to Sell Your Rosemont, California Restaurant?

Following years of hard work, you have made the decision sell your Rosemont, California restaurant

Contemplating starting a new Rosemont, California restaurant, moving, or maybe retiring. No matter the reason, selling your Rosemont, California restaurant can be way more challenging than you might think. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You may either decide to contract with a Rosemont, California restaurant broker to assist you in selling your Rosemont, California restaurant or take on the task on your own. If you are considering selling your Rosemont, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Important Paperwork

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

The required documents may vary from state to state--even in California, but the following is a list of some generalized documents you may find helpful 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 experience to assist you in the sale of your Rosemont, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a prospective buyer first day. However, you may want to have them on hand because you will eventually require them during the sales process.

Also, putting together these documents lets you view your Rosemont, California restaurant through the lens of a buyer. It gives you a clear image of the Rosemont, California restaurant you're offering for sale. Furthermore, it allows you to show if there are any concerns you will need to take care of.

#2 Get Your Financials in Order

Your financial records are an important part of selling your Rosemont, California restaurant. This is why you should strive to make these documents accurate and well organized.

Showing your financial records to prospective buyers may assist to clear any doubt they might have concerning your Rosemont, California restaurant.

The financial documents may include:

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

In addition, make sure you have duplicate copies of all of the documents. This will make it easier for you to send the records to possible buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things can create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Rosemont, California restaurant, you need to review 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 could be advisable to talk to your landlord concerning your plan to sell your Rosemont, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this will help them estimate the true value of your Rosemont, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow planning to sell your Rosemont, California restaurant.

The average time it may take to sell a Rosemont, California restaurant is six months. Within the six months, there are several things you can do in order to increase your profit and cut various costs, and thus increase the value of your Rosemont, California restaurant.

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

This will help you in estimating the overall value of your Rosemont, California restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Rosemont, California restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Rosemont, 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 Rosemont, California restaurant must be cleaned and maintained. Landscaping and a clean parking area can help create appeal for potential buyers.

Clean windows, polished handles and a presentable floor are other small items that would help create a memorable first impression.

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

Non-functional equipment can raise doubt about your financial situation and production abilities. It can even dampen the morale of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Rosemont Buyers

Looking for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Rosemont, California restaurant broker to help. The professional Rosemont, California restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project by yourself, you will need to create proper advertising. You can list your Rosemont, California restaurant on listing websites and tell family and friends about your intentions to sell your Rosemont, California restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Rosemont, California restaurant yourself, or with a a Rosemont, California restaurant broker, you should always be prepared. Be ready to show your Rosemont, California restaurant to prospective buyers at all times.

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

#9 Sell Your Rosemont, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the deal. The documentation will usually start with the Asset Purchase Agreement.

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

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

Choosing a Rosemont, California Restaurant Broker

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

The fact remains, in order for you to achieve the most from of the business deal, 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 where an experienced Rosemont, California restaurant broker is needed. A Rosemont, California restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Rosemont, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Rosemont, California Restaurant Broker

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

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

Rosemont Zip Codes We Support: 95826, 95827