Right Time to Sell Your San Gabriel, California Restaurant?

After years of hard work, you have made the decision sell your San Gabriel, California restaurant

Contemplating opening a new eatery, moving, or maybe retiring. No matter the reason, selling your San Gabriel, California restaurant can be a lot more difficult than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough profit for all the labor you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You can either make the decision to contract with a San Gabriel, California restaurant broker to help you in selling your San Gabriel, California restaurant or do the task on your own. If you are considering selling your San Gabriel, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather any Business Documentation

This is an important initial step to take when you begin the process of selling your San Gabriel, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some standard documents you may find helpful to have at hand:

• A list of 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 experience to assist you in the sale of your San Gabriel, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show all these documents to a potrntial buyer first day. But, you should have them ready because you will certainly need them during the sales process.

In addition, compiling these documents allows you to see your San Gabriel, California restaurant through the lens of a buyer. It gives you a clear picture of the San Gabriel, California restaurant you are offering for sale. In addition, it helps you identify if there are any loopholes you will need to take care of.

#2 Put Your Financial Records in Order

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

Offering your financial documents to prospective buyers could assist to clear any hesitations they might have regarding your San Gabriel, California restaurant.

Your 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 documents. This can make it easier for you to send the documentation to prospective buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these items could create legal problems for you if a buyer later on discovers these liabilities after signing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your San Gabriel, California restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

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

#4 Have Your Restauarant Appraised

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

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to build up your cash flow planning to sell your San Gabriel, California restaurant.

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

Also, with regards 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 aid you in estimating the probable worth of your San Gabriel, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your San Gabriel, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the overall aesthetic of your San Gabriel, California restaurant does not look good to buyers, they might take a pass immediately.

To avoid this from happening, everything in and out of your San Gabriel, California restaurant must be cleaned and maintained. 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 great first impression.

Additionally, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working, it might convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and production abilities. It can even dampen the mood of your staff, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for San Gabriel Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional San Gabriel, California restaurant broker to help. A professional San Gabriel, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this task yourself, you will need to create proper advertising. You can list your San Gabriel, California restaurant on business websites and tell family and friends about your intentions to sell your San Gabriel, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could walk into your San Gabriel, California restaurant. Some buyers might even come in as customers in order to carry out some research before contacting you.

#9 Sell Your San Gabriel, 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 contract. The paperwork often begin with the Asset Purchase Agreement.

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

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

Choosing a San Gabriel, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business transaction, you need some level of experience to stand above and against your competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced San Gabriel, California restaurant broker comes in. A San Gabriel, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your San Gabriel, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a San Gabriel, California Restaurant Broker

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

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

San Gabriel Zip Codes We Support: 91775, 91776, 91778