Are You Ready to Sell Your San Bruno, California Restaurant?

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

Contemplating starting a new San Bruno, California restaurant, relocating, or even retiring. Regardless of the reason, selling your San Bruno, California restaurant can be a lot more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the time you may have put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to hire a eatery broker to help you in selling your San Bruno, California restaurant or do the task yourself. Whether considering selling your San Bruno, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together all Necessary Documentation

This is a necessary first step to take when you start the process of marketing your San Bruno, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of some generalized documents you may need to have prepared:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your San Bruno, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a potrntial buyer day one. But, you should have them ready because you will certainly require them during the sales process.

In addition, putting together these documents allows you to view your San Bruno, California restaurant through the lens of a buyer. This provides you a clear image of the San Bruno, California restaurant you're selling. In addition, it helps you identify whether there are any concerns you will need to address.

#2 Get Your Financial Records in Order

Your financial documents are an important aspect of selling your San Bruno, California restaurant. That’s the reason you should strive to make these documents accurate and organized.

Offering your financial records to prospective buyers may help clear any doubt they may have concerning your San Bruno, California restaurant.

These financial records could include:

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

In addition, ensure you have duplicate copies of all of the documents. This may make it easier for you to transmit the documentation to prospective buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your San Bruno, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your San Bruno, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this will help them evaluate the value of the San Bruno, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to increase your cash flow starting to sell your San Bruno, California restaurant.

The average time it takes to sell a San Bruno, California restaurant is six months. Within the six months, there is a lot you can do in order to increase your profit and reduce various costs, and therefore strengthen the value of your San Bruno, California restaurant.

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This could help you in deriving the probable value of your San Bruno, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your San Bruno, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your San Bruno, California restaurant does not appeal to buyers, they likely pass over without a second look.

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

Clean windows, polished handles and a presentable floor are other easy things that could help create a great initial impression.

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

Non-functional equipment may rouse doubt about your financial status and production capabilities. It may even lower the mood of your employees, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning purchasing your San Bruno, California restaurant.

#7 look for San Bruno Buyers

Marketing to 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 San Bruno, California restaurant broker to help. A professional San Bruno, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this project alone, you will need to create appropriate advertising. You can offer your San Bruno, California restaurant on listing websites and tell family and friends about your plans to market for sale your San Bruno, California restaurant.

As you will likely come across competition when trying to sell your San Bruno, California restaurant, you need your restaurant to stand out.

#8 Be Ready

If you decide to sell your San Bruno, California restaurant yourself, or with a a San Bruno, California restaurant broker, you should always be ready. Be ready to show your San Bruno, California restaurant to prospective buyers at all times.

You will never know when a buyer could visit your San Bruno, California restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your San Bruno, California Restaurant

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

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a San Bruno, California Restaurant Broker

While attempting to sell your San Bruno, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business transaction, you need a higher level of expertise in order to stand above and against the competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced San Bruno, California restaurant broker is needed. A San Bruno, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your San Bruno, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a San Bruno, California Restaurant Broker

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

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

San Bruno Zip Codes We Support: 94030, 94066