Time to Sell Your San Dimas, California Restaurant?

After years of sweat equity, you have made the decision sell your San Dimas, California restaurant

Considering starting a new eatery, relocating, or even slowing down. No matter the reason, selling a San Dimas, California restaurant can be way more difficult than you may realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Steps to Take when Selling Your Restaurant

You may either think to contract with a eatery broker to assist you in selling your San Dimas, California restaurant or take on the task yourself. If you are considering selling your San Dimas, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together any Business Paperwork

This is a necessary preparatory step to make when you start the process of selling your San Dimas, California restaurant.

The necessary documents may vary from state to state--even in California, but below is a list of a few standard documents you may find helpful to have on you:

• Gather 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 sale of your San Dimas, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal the majority of these documents to a prospective buyer first day. However, you may want to have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents allows you to view your San Dimas, California restaurant through the lens of a buyer. This provides you a clear picture of the San Dimas, California restaurant you are offering for sale. Furthermore, it helps you identify if there are any concerns you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial part of selling your San Dimas, California restaurant. This is the reason you should make it a priority to have your documents accurate and organized.

Offering your financial documents to potential buyers could help clear any doubt they may have concerning your San Dimas, California restaurant.

Your financial documents 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 the records. This may make it easier for you to transmit the records to potential buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal issues for you if a buyer later discovers these liabilities after signing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your San Dimas, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your San Dimas, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

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

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow starting to sell your San Dimas, California restaurant.

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

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may assist you in coming up with the overall worth of your San Dimas, California restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your San Dimas, California restaurant could go a great distance in helping you bring potential buyers. Conversely, if the overall look of your San Dimas, California restaurant does not appeal to buyers, they likely pass over immediately.

To prevent this from happening, all things in and out of your San Dimas, California restaurant must be clean. Landscaped and a clean parking area can help create curb appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are also easy things that could help create a memorable first impression.

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

Faulty equipment can raise doubt about your financial situation and output capabilities. It could even lower the morale of your staff, 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 San Dimas, California restaurant.

#7 look for San Dimas Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced San Dimas, California restaurant broker to help. A professional San Dimas, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project alone, you will need to create appropriate advertising. You can offer your San Dimas, California restaurant on business websites and let your family and friends know about your intentions to sell your San Dimas, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your San Dimas, California Restaurant

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

You may need your attorney’s help in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a San Dimas, California Restaurant Broker

Although trying to sell your San Dimas, 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 achieve the most out of the business transaction, you need some level of expertise to stand above and against your competition while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced San Dimas, California restaurant broker is needed. A San Dimas, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your San Dimas, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a San Dimas, California Restaurant Broker

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

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

San Dimas Zip Codes We Support: 91724, 91750, 91768, 91773