Are You Ready to Sell Your Sacramento, California Restaurant?

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

Considering opening a different eatery, moving, or maybe retiring. No matter the reason, selling a Sacramento, California restaurant can be way more difficult than you might think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the sweat you may have put into it.

Important Steps to Take in Selling Your Restaurant

You may either make the decision to hire a eatery broker to assist you in selling your Sacramento, California restaurant or do the task yourself. Whether considering selling your Sacramento, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather all Business Documentation

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

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

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

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

It's probably smart not to show all these documents to a prospective buyer right away. However, you may want to have them ready because you will certainly require them during the sales process.

In addition, putting together these documents lets you see your Sacramento, California restaurant through the lens of a buyer. This provides you a clear picture of the Sacramento, California restaurant you're selling. In addition, it allows you to identify if there are any areas you will have to take care of.

#2 Get Your Financial Records in Order

Your financial documents are an important part of selling your Sacramento, California restaurant. That’s the reason you should make an effort to have these documents accurate and organized.

Showing your financial records to prospective buyers could aid clear any doubt they might have concerning your Sacramento, California restaurant.

The financial records may 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 these documents. This can make it easier for you to send the records to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these items could create legal issues for you if a buyer later on discovers these liabilities after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Sacramento, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Sacramento, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

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

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow planning to sell your Sacramento, California restaurant.

The average time it may take to sell a Sacramento, California restaurant is 6 months. Within those six months, there is a lot you can do to increase your profit and reduce various costs, and therefore strengthen the worth of your Sacramento, California restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in coming up with the probable value of your Sacramento, California restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Sacramento, California restaurant will go a long way in helping you bring potential buyers. Alternatively, if the general look of your Sacramento, California restaurant does not look good to buyers, they could pass over immediately.

To avoid this from happening, all things in and out of your Sacramento, California restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create appeal for potential buyers.

Spot-free windows, polished door handles and a clean floor are also simple things that can 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 in a hurry to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial status and production capabilities. It may even dampen the mood 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 prospective buyers regarding buying your Sacramento, California restaurant.

#7 look for Sacramento Buyers

Looking for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Sacramento, California restaurant broker to help. The professional Sacramento, California restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to take on this project by yourself, you will need to create proper advertising. You can market your Sacramento, California restaurant on business websites and let your family and friends know about your intentions to sell your Sacramento, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Sacramento, California Restaurant

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

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

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

Choosing a Sacramento, California Restaurant Broker

Although trying to sell your Sacramento, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first-timers.

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

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

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

Contact a Sacramento, California Restaurant Broker

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

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

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