Time to Sell Your San Leandro, California Restaurant?

After years of labor, you have made the decision sell your San Leandro, California restaurant

Contemplating starting a new eatery, moving, or maybe retiring. Regardless of the reason, selling a San Leandro, California restaurant can be way more challenging than you may realize. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You may either make the decision to hire a eatery broker to guide you in selling your San Leandro, California restaurant or take on the task yourself. Whether considering selling your San Leandro, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Business Paperwork

This is a necessary first step to make when you begin the process of offering your San Leandro, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of some standard documents you may be requierd to have at hand:

• Gather your assets
• Lease contract
• 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 has the expertise to help you in the sale of your San Leandro, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a possible buyer first day. However, you may want to have them on hand because you will certainly need them during the sales process.

In addition, putting together these documents lets you view your San Leandro, California restaurant through the lens of a buyer. It gives you a clear picture of the San Leandro, California restaurant you're offering for sale. Furthermore, it helps you identify whether there are any concerns you'll need to address.

#2 Put Your Financial Records in Order

Your financial records are an important part of selling your San Leandro, California restaurant. This is the reason you should strive to make your documents accurate and organized.

Offering your financial records to prospective buyers could aid clear any hesitations they might have concerning your San Leandro, California restaurant.

The financial documents could include:

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

Also, make sure you have hard copies of all of these documents. This could make it easier for you to send the information to prospective buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these things may create legal problems for you if a buyer later on discovers these liabilities after closing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your San Leandro, California restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your San Leandro, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the value of your San Leandro, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your San Leandro, California restaurant.

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

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could assist you in estimating the probable value of your San Leandro, California restaurant. If you understand the overall value this could help you settle on a selling price.

#5 Make Your Restaurant Look Good

The appearance of your San Leandro, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general aesthetic of your San Leandro, California restaurant does not look good to buyers, they could pass over immediately.

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

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

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

Non-functional equipment also raises doubt about your financial status and output abilities. It could even lower the mood of your employees, and in response, 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 buying your San Leandro, California restaurant.

#7 look for San Leandro Buyers

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

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

#8 Be Ready

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

You never know when a buyer will walk into your San Leandro, California restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your San Leandro, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the transaction. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a San Leandro, California Restaurant Broker

While trying to sell your San Leandro, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first time sellers.

The fact remains, if you're looking to get the most out of the business deal, you need a higher level of experience to stand above and against the cometitors while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced San Leandro, California restaurant broker comes in. A San Leandro, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your San Leandro, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

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

Contact a San Leandro, California Restaurant Broker

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

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

San Leandro Zip Codes We Support: 94577, 94578, 94579, 94603