Ready to Sell Your San Rafael, California Restaurant?

Following years of sweat equity, you have decided to sell your San Rafael, California restaurant

Considering starting a new eatery, moving, or maybe slowing down. Regardless of the reason, selling your San Rafael, California restaurant can be a lot more difficult than you may realize. Thats because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the sweat you may have put into it.

Important Steps to Take when Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your San Rafael, California restaurant or take on the task on your own. If you are considering selling your San Rafael, 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 offering your San Rafael, California restaurant.

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

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your San Rafael, 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 prospective buyer day one. But, you should have them at hand because you will certainly need them during the sales process.

Also, compiling these documents lets you view your San Rafael, California restaurant through the lens of a buyer. It gives you a clear picture of the San Rafael, California restaurant you are selling. Furthermore, it allows you to identify if there are any loopholes you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial detail of selling your San Rafael, California restaurant. This is the reason you should strive to make your documents complete and well organized.

Offering your financial documents to potential buyers could assist to clear any hesitations they may have concerning your San Rafael, California restaurant.

These financial records could include:

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

In addition, ensure you have soft copies of all of these records. This could make it easier for you to send the information to possible buyers.

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

#3 Organize the Information On Your Commercial Lease

While preparing to sell your San Rafael, California restaurant, you need to understand of your commercial lease. It could be devestating 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 regarding your plan to sell your San Rafael, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

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 Rafael, California restaurant.

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

The average time it takes to sell a San Rafael, California restaurant is 6 months. Within those six months, there is a lot you can do in order to increase your profit and slash several costs, and thus strengthen the value of your San Rafael, California restaurant.

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

This will assist you in estimating the probable worth of your San Rafael, California restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your San Rafael, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall aesthetic of your San Rafael, California restaurant does not appeal to buyers, they could pass over without consideration.

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

Clean windows, polished handles and a clean floor are also simple things that can help create a unforgettable initial impression.

Furthermore, you should make sure all the equipment is in satisfactory condition. If your equipment is not functioning, it can convey 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 production abilities. It could even lower the excitment of your staff, and in response, 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 purchasing your San Rafael, California restaurant.

#7 look for San Rafael Buyers

Searching 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 Rafael, California restaurant broker to help. A professional San Rafael, California restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to handle this task by yourself, you will need to create proper advertising. You can list your San Rafael, California restaurant on business websites and tell family and friends about your intentions to market for sale your San Rafael, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your San Rafael, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the contract. The documentation will likely start 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 aspect of the deal.

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

Choosing a San Rafael, California Restaurant Broker

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

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

Expertise is also vital during negotiations with prospective buyers. This is when an experienced San Rafael, California restaurant broker is needed. A San Rafael, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your San Rafael, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a San Rafael, California Restaurant Broker

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

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

San Rafael Zip Codes We Support: 94901, 94903, 94912, 94913, 94915