Are You Ready to Sell Your San Mateo, California Restaurant?

After years of labor, you have decided to sell your San Mateo, California restaurant

Considering starting a new eatery, moving, or maybe slowing down. Regardless of the reason, selling a San Mateo, California restaurant can be way more challenging than you may think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

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

#1 Gather the Important Documentation

This is an important preparatory step to make when you commence the process of selling your San Mateo, California restaurant.

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

• 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 comes with expertise to help you in the market for sale of your San Mateo, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a potrntial buyer first day. However, you should have them at hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to view your San Mateo, California restaurant through the lens of a buyer. This gives you a clear image of the San Mateo, California restaurant you're offering for sale. In addition, it helps you show whether there are any concerns you'll have to address.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial part of selling your San Mateo, California restaurant. This is the reason you should make an effort to make these documents accurate and well organized.

Showing your financial records to potential buyers could help clear any hesitations they might have concerning your San Mateo, California restaurant.

These financial records can include:

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

In addition, ensure you have hard copies of all of the documents. This can make it easier for you to send the information to potential buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later discovers these liabilities after closing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your San Mateo, California restaurant, you must find out the terms of your commercial lease. It could be devestating 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 Mateo, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

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

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

The estimated time it may take to sell a San Mateo, California restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and reduce various costs, and therefore strengthen the value of your San Mateo, 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 could aid you in estimating the probable worth of your San Mateo, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your San Mateo, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the overall curb appeal of your San Mateo, California restaurant does not look good to buyers, they likely pass over without a second look.

To prevent this from happening, everything in and out of your San Mateo, California restaurant must be clean. Landscaped and a clean parking area could help create appeal for potential buyers.

Clean windows, polished handles and a neat floor are other simple items that would help create a great initial impression.

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not working properly, it may convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial situation and output abilities. It could even dampen the morale of your employees, 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 concerning purchasing your San Mateo, California restaurant.

#7 Search for San Mateo Buyers

Searching for prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire a professional San Mateo, California restaurant broker to help. A professional San Mateo, California restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this project by yourself, you will need to carry out proper advertising. You can offer your San Mateo, California restaurant on listing websites and let your family and friends know about your plans to sell your San Mateo, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will walk into your San Mateo, California restaurant. Some buyers may even come in as customers just to perform some research before contacting you.

#9 Sell Your San Mateo, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the contract. The paperwork often begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a San Mateo, California Restaurant Broker

While trying to sell your San Mateo, California restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first-timers.

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

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

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

Contact a San Mateo, California Restaurant Broker

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

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

San Mateo Zip Codes We Support: 94011, 94401, 94402, 94403, 94404, 94497