Right Time to Sell Your San Clemente, California Restaurant?

Following years of sweat equity, you have decided to sell your San Clemente, California restaurant

Considering starting a different eatery, moving, or maybe retiring. Regardless of the reason, selling a San Clemente, California restaurant can be way more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough money for all the labor you may have put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Gather the Business Documentation

This is a necessary initial step to take when you commence the process of marketing your San Clemente, California restaurant.

The necessary documents 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 prepared:

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

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

It's probably best not to show all these documents to a possible buyer first day. But, you may want to have them at hand because you will eventually need them during the sales process.

Also, compiling these documents allows you to see your San Clemente, California restaurant through the lens of a buyer. It provides you a clear picture of the San Clemente, California restaurant you're selling. Furthermore, it helps you show whether there are any concerns you will need to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial aspect of selling your San Clemente, California restaurant. That’s why you should make it a priority to have your documents accurate and organized.

Showing your financial documents to prospective buyers could assist to clear any hesitations they may have concerning your San Clemente, California restaurant.

These financial records could include:

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

Also, ensure you have soft copies of all of the documents. This can make it easier for you to transmit the information to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later on discovers these liabilities post signing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your San Clemente, California restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your San Clemente, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this helps with estimating the value of the San Clemente, California restaurant.

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

The average time it may take to sell a San Clemente, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and cut various costs, and therefore strengthen the worth of your San Clemente, California restaurant.

Also, 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 deriving the overall value of your San Clemente, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your San Clemente, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the overall curb appeal of your San Clemente, California restaurant does not look good to buyers, they might pass over without consideration.

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

Clean windows, polished door handles and a neat floor are also small items that can help create a memorable first impression.

Additionally, you should make sure that all your equipment is in top condition. If your equipment is not functioning, it can send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial status and production capabilities. It may even dampen the excitment of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding buying your San Clemente, California restaurant.

#7 look for San Clemente Buyers

Searching for potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire a professional San Clemente, California restaurant broker to help. A professional San Clemente, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this task by yourself, you will need to create appropriate advertising. You can list your San Clemente, California restaurant on business websites and let your family and friends know about your intentions to sell your San Clemente, California restaurant.

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

#8 Be Ready

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

You never know when a buyer will walk into your San Clemente, California restaurant. Some buyers might even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your San Clemente, California Restaurant

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

You should have your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a San Clemente, California Restaurant Broker

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

The fact remains, in order for you to get the most out of the business deal, you need some level of expertise in order to stand out against your cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced San Clemente, California restaurant broker is needed. A San Clemente, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your San Clemente, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a San Clemente, California Restaurant Broker

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

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

San Clemente Zip Codes We Support: 92624, 92672, 92673, 92674