Ready to Sell Your San Fernando, California Restaurant?

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

Contemplating starting a new eatery, relocating, or maybe slowing down. No matter the reason, selling a San Fernando, California restaurant can be a lot more complicated than you may think. This is because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the time you may have put into it.

Important Actions to Consider in Selling Your Restaurant

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

#1 Put Together all Business Documentation

This is an important first step to make when you start the process of offering your San Fernando, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of a few general documents you may be requierd to have on you:

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

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

It's probably best not to reveal the majority of these documents to a potrntial buyer day one. But, you should have them at hand because you will certainly need them during the sales process.

In addition, putting together these documents allows you to view your San Fernando, California restaurant through the lens of a buyer. This gives you a clear picture of the San Fernando, California restaurant you are offering for sale. In addition, it helps you show whether there are any areas you will need to address.

#2 Get Your Financials in Order

Your financial documents are a crucial detail of selling your San Fernando, California restaurant. That’s the reason you should make it a priority to have your documents accurate and well organized.

Showing your financial records to potential buyers may aid clear any doubt they may have concerning your San Fernando, California restaurant.

The financial documents could include:

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

Also, ensure you have duplicate copies of all of the records. This may make it easier for you to send the documentation to prospective buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your San Fernando, California restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps them evaluate the value of your San Fernando, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build your cash flow before trying to sell your San Fernando, California restaurant.

The estimated time it may take to sell a San Fernando, California restaurant is six months. Within those six months, there is a lot you can do to strengthen your profit and cut various costs, and therefore strengthen the worth of your San Fernando, 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 could assist you in coming up with the probable value of your San Fernando, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

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

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

Spot-free windows, polished door handles and a clean floor are other small items that could help create a unforgettable first impression.

Additionally, you should ensure that all the 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.

Non-functional equipment also raises doubt about your financial capabilities and production abilities. It may even lower the excitment of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your San Fernando, California restaurant.

#7 Search for San Fernando Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced San Fernando, California restaurant broker to help. A professional San Fernando, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this task alone, you will need to create proper advertising. You can list your San Fernando, California restaurant on listing websites and let your family and friends know about your plans to sell your San Fernando, California restaurant.

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

#8 Be Prepared

If you decide to sell your San Fernando, California restaurant yourself, or through a San Fernando, California restaurant broker, you need to always be prepared. Be prepared to show your San Fernando, California restaurant to prospective buyers at all times.

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

#9 Sell Your San Fernando, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the contract. The documentation will likely start with the Asset Purchase Agreement.

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

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

Choosing a San Fernando, California Restaurant Broker

Although attempting to sell your San Fernando, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first-timers.

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

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

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

Contact a San Fernando, California Restaurant Broker

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

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

San Fernando Zip Codes We Support: 91340, 91341, 91342, 91392