Ready to Sell Your Santa Clara, California Restaurant?

After years of labor, you have decided to sell your Santa Clara, California restaurant

Contemplating opening a new eatery, relocating, or even retiring. Regardless of the reason, selling a Santa Clara, California restaurant can be a lot more difficult than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to contract with a eatery broker to guide you in selling your Santa Clara, California restaurant or take on the task yourself. If you are considering selling your Santa Clara, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather the Business Paperwork

This is an important initial step to take when you start the process of offering your Santa Clara, California restaurant.

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

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

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It's probably smart not to show all these documents to a possible buyer first day. However, you should have them ready because you will eventually need them during the sales process.

Also, compiling these documents allows you to view your Santa Clara, California restaurant through the lens of a buyer. It gives you a clear image of the Santa Clara, California restaurant you're offering for sale. Furthermore, it allows you to identify if there are any areas you'll have to address.

#2 Get Your Financials in Order

Your financial records are a crucial detail of selling your Santa Clara, California restaurant. This is why you should make it a priority to have these documents complete and organized.

Showing your financial records to prospective buyers may help clear any hesitations they might have concerning your Santa Clara, California restaurant.

The financial records may 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 records. This may make it easier for you to transmit the records to prospective buyers.

Likewise, as a seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Santa Clara, California restaurant, you must find out the terms of your commercial lease. It would 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 have a discussion with your landlord concerning your plan to sell your Santa Clara, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth analysis of your financials, whether favorable or not, this helps them estimate the value of your Santa Clara, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Santa Clara, California restaurant.

The estimated time it may take to sell a Santa Clara, California restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and cut several costs, and thus strengthen the value of your Santa Clara, California restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may help you in deriving the probable value of your Santa Clara, California restaurant. If you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Santa Clara, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Santa Clara, California restaurant does not appeal to buyers, they might pass over right off the bat.

To prevent this from happening, all things in and out of your Santa Clara, California restaurant must be clean. Manicured and a clean parking area could help create curb appeal for prospective buyers.

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

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

Non-functional equipment also raises doubt about your financial capabilities and production capabilities. It may even lower the excitment of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your Santa Clara, California restaurant.

#7 Search for Santa Clara Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire a professional Santa Clara, California restaurant broker to help. The professional Santa Clara, California restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this project yourself, you will need to carry out appropriate advertising. You can list your Santa Clara, California restaurant on listing websites and tell family and friends about your plans to market for sale your Santa Clara, California restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Santa Clara, California Restaurant

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

You may need your attorney’s expertise 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 Santa Clara, California restaurant, assets and equipment as well as inventory value.

Choosing a Santa Clara, California Restaurant Broker

Although attempting to sell your Santa Clara, California restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most from of the business transaction, you need a higher level of experience in order to stand out against the competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Santa Clara, California restaurant broker is recommended. A Santa Clara, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Santa Clara, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Santa Clara, California Restaurant Broker

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

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

Santa Clara Zip Codes We Support: 95050, 95051, 95052, 95053, 95054, 95055, 95056, 95110, 95117