Ready to Sell Your San Carlos, California Restaurant?

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

Considering starting a different San Carlos, California restaurant, moving, or even slowing down. No matter the reason, selling your San Carlos, California restaurant can be a lot more challenging than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the sweat you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either think to contract with a San Carlos, California restaurant broker to assist you in selling your San Carlos, California restaurant or take on the task yourself. Whether considering selling your San Carlos, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Important Paperwork

This is an important first step to take when you start the process of selling your San Carlos, California restaurant.

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

• A list of your assets
• Lease documentation
• 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 comes with expertise to assist you in the market for sale of your San Carlos, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

Also, compiling these documents allows you to view your San Carlos, California restaurant through the lens of a buyer. It gives you a clear picture of the San Carlos, California restaurant you are offering for sale. Furthermore, it allows you to show if there are any loopholes you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial aspect of selling your San Carlos, California restaurant. This is why you should make an effort to have these documents complete and organized.

Offering your financial documents to possible buyers may aid clear any hesitations they may have concerning your San Carlos, California restaurant.

Your financial records may include:

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

In addition, make sure you have soft copies of all of these records. This can make it easier for you to send the documentation to potential 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 issues for you if a buyer later on discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your San Carlos, California restaurant, you need to review 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 have a discussion with your landlord regarding your plan to sell your San Carlos, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the true value of the San Carlos, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow before trying to sell your San Carlos, California restaurant.

The estimated time it may take to sell a San Carlos, 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 therefore increase the value of your San Carlos, California restaurant.

Also, 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 will assist you in estimating the probable worth of your San Carlos, California restaurant. When you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your San Carlos, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the overall curb appeal of your San Carlos, California restaurant does not look good to buyers, they likely pass over without consideration.

To avoid this from happening, all things in and out of your San Carlos, California restaurant must be clean. Landscaping and a clean parking area may help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are also simple things that can help create a memorable initial impression.

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

Faulty equipment also raises doubt about your financial situation and output capabilities. It may even dampen 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 potential buyers concerning purchasing your San Carlos, California restaurant.

#7 Search for San Carlos Buyers

Looking for prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced San Carlos, California restaurant broker to help. The professional San Carlos, California restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this task yourself, you will need to create proper advertising. You can list your San Carlos, California restaurant on business websites and let your family and friends know about your plans to market for sale your San Carlos, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your San Carlos, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the transaction. The documentation often begin with the Asset Purchase Agreement.

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

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

Choosing a San Carlos, California Restaurant Broker

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

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

Expertise is also vital during negotiations with prospective buyers. This is when an experienced San Carlos, California restaurant broker is recommended. A San Carlos, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your San Carlos, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a San Carlos, California Restaurant Broker

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

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

San Carlos Zip Codes We Support: 94070