Decided to Sell Your San Lorenzo, California Restaurant?

Following years of hard work, you have decided to sell your San Lorenzo, California restaurant

Contemplating starting a different eatery, moving, or even retiring. Regardless of the reason, selling your San Lorenzo, California restaurant can be way more complicated than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the time you may have put into it.

Necessary Steps to Consider in Selling Your Restaurant

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

#1 Put Together any Important Documentation

This is an important preparatory step to make when you start the process of marketing your San Lorenzo, California restaurant.

The required 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 at hand:

• Gather your assets
• Lease contract
• 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 comes with experience to assist you in the sale of your San Lorenzo, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

Also, putting together these documents allows you to see your San Lorenzo, California restaurant through the lens of a buyer. It provides you a clear picture of the San Lorenzo, California restaurant you're offering for sale. In addition, it helps you identify if there are any areas you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important part of selling your San Lorenzo, California restaurant. That’s why you should strive to have these documents accurate and well organized.

Offering your financial documents to prospective buyers could assist to clear any doubt they might have concerning your San Lorenzo, California restaurant.

The financial records can 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 the documents. This can make it easier for you to send the information to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these things may create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your San Lorenzo, California restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps them evaluate the value of your San Lorenzo, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build your cash flow starting to sell your San Lorenzo, California restaurant.

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

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

This could help you in deriving the probable worth of your San Lorenzo, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your San Lorenzo, California restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your San Lorenzo, California restaurant does not appeal to buyers, they might pass over without consideration.

To prevent this from happening, everything in and out of your San Lorenzo, California restaurant must be clean. Landscaping and a clean parking lot can help create curb appeal for potential buyers.

Clean windows, polished door handles and a clean floor are also small items that would help create a great first impression.

Furthermore, you should ensure that all your equipment is in top condition. If your equipment is not functioning, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial situation and output capabilities. It could even dampen the mood of your employees, and 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 concerning purchasing your San Lorenzo, California restaurant.

#7 look for San Lorenzo Buyers

Searching for 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 Lorenzo, California restaurant broker to help. A professional San Lorenzo, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this project yourself, you will need to create appropriate advertising. You can show your San Lorenzo, California restaurant on listing websites and let your family and friends know about your plans to sell your San Lorenzo, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your San Lorenzo, California restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your San Lorenzo, California Restaurant

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

You should have your attorney’s help in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a San Lorenzo, California Restaurant Broker

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

The fact remains, in order for you to get the most out of the business deal, you need some level of experience in order to stand out against the competition while attempting to find buyers.

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

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

Contact a San Lorenzo, California Restaurant Broker

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

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

San Lorenzo Zip Codes We Support: 94541, 94580