Right Time to Sell Your San Marcos, California Restaurant?

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

Considering starting a different San Marcos, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling your San Marcos, California restaurant can be way more complicated than you might think. Thats because it takes careful preparation and a solid strategy to successfully get out with enough profit for all the sweat you may have put into it.

Important Actions to Consider when Selling Your Restaurant

You can either make the decision to hire a eatery broker to guide you in selling your San Marcos, California restaurant or do the task on your own. If you are considering selling your San Marcos, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather all Necessary Documentation

This is a necessary initial step to take when you begin the process of marketing your San Marcos, California restaurant.

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

• Gather your assets
• Lease document
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural drawings
• Financial statements and other important financial documents

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

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

Also, compiling these documents allows you to view your San Marcos, California restaurant through the lens of a buyer. It gives you a clear image of the San Marcos, California restaurant you are selling. Furthermore, it allows you to identify whether there are any areas you will need to address.

#2 Get Your Financial Records in Order

Your financial records are an important part of selling your San Marcos, California restaurant. This is why you should strive to make these documents complete and well organized.

Showing your financial records to prospective buyers could help clear any doubt they may have concerning your San Marcos, California restaurant.

The financial documents can include:

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

Also, make sure you have soft copies of all of the records. This can make it easier for you to send the records to potential buyers.

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

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your San Marcos, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this will help them evaluate the true value of the San Marcos, California restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your San Marcos, California restaurant.

The average time it may take to sell a San Marcos, California restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and slash several costs, and therefore strengthen the value of your San Marcos, 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 will help you in coming up with the probable value of your San Marcos, California restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your San Marcos, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the overall aesthetic of your San Marcos, California restaurant does not appeal to buyers, they could pass over immediately.

To prevent this from happening, everything in and out of your San Marcos, California restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create appeal for potential buyers.

Clean windows, polished handles and a presentable floor are also small things that can help create a great initial impression.

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

Non-functional equipment may rouse doubt about your financial capabilities and production capabilities. It can even dampen the excitment of your staff, 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 prospective buyers concerning purchasing your San Marcos, California restaurant.

#7 look for San Marcos Buyers

Marketing to potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional San Marcos, California restaurant broker to help. A professional San Marcos, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this project by yourself, you will need to create appropriate advertising. You can show your San Marcos, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your San Marcos, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your San Marcos, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The paperwork often begin with the Asset Purchase Agreement.

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

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

Choosing a San Marcos, California Restaurant Broker

While attempting to sell your San Marcos, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

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

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

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

Contact a San Marcos, California Restaurant Broker

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

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

San Marcos Zip Codes We Support: 92009, 92029, 92069, 92078, 92079, 92084, 92096