Ready to Sell Your Rowland Heights, California Restaurant?

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

Contemplating starting a new eatery, relocating, or maybe retiring. No matter the reason, selling your Rowland Heights, California restaurant can be a lot more difficult than you might 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.

Important Steps to Take when Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your Rowland Heights, California restaurant or do the task yourself. Whether considering selling your Rowland Heights, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Important Paperwork

This is a necessary first step to make when you begin the process of marketing your Rowland Heights, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some standard documents you may find helpful to have at hand:

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Rowland Heights, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a potrntial buyer right away. However, you should have them ready because you will certainly need them during the sales process.

Also, compiling these documents lets you view your Rowland Heights, California restaurant through the lens of a buyer. It gives you a clear image of the Rowland Heights, California restaurant you're selling. Furthermore, it helps you identify if there are any areas you will have to take care of.

#2 Put Your Financial Documents in Order

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

Offering your financial records to potential buyers may assist to clear any doubt they may have regarding your Rowland Heights, California restaurant.

Your financial records may include:

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

In addition, ensure you have soft copies of all of the records. This will make it easier for you to send the documentation to prospective buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items could create legal issues for you if a buyer later discovers these liabilities after closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Rowland Heights, California restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of the Rowland Heights, California restaurant.

This will be 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 Rowland Heights, California restaurant.

The estimated time it takes to sell a Rowland Heights, California restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and cut various costs, and thus increase the worth of your Rowland Heights, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may assist you in deriving the probable value of your Rowland Heights, California restaurant. When you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Rowland Heights, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the general look of your Rowland Heights, California restaurant does not appeal to buyers, they likely pass over without consideration.

To prevent this from happening, everything in and out of your Rowland Heights, California restaurant must be clean. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also easy items that can help create a great initial impression.

Furthermore, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial situation and production capabilities. It could even dampen the excitment 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 potential buyers regarding buying your Rowland Heights, California restaurant.

#7 Search for Rowland Heights Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Rowland Heights, California restaurant broker to help. The professional Rowland Heights, California restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this task by yourself, you will need to carry out proper advertising. You can market your Rowland Heights, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Rowland Heights, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Rowland Heights, California restaurant. Some buyers may even visit as customers in order to perform some research before contacting you.

#9 Sell Your Rowland Heights, California Restaurant

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

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

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

Choosing a Rowland Heights, California Restaurant Broker

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

The fact remains, if you're looking to get the most from of the business deal, you need a higher level of experience to stand out against your competition while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Rowland Heights, California restaurant broker comes in. A Rowland Heights, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Rowland Heights, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Rowland Heights, California Restaurant Broker

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

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

Rowland Heights Zip Codes We Support: 91748, 91789