Are You Ready to Sell Your Santa Maria, California Restaurant?

Following years of sweat equity, you have decided to sell your Santa Maria, California restaurant

Considering opening a new eatery, relocating, or even retiring. No matter the reason, selling your Santa Maria, California restaurant can be way more challenging than you might think. This is because it takes careful preparation and a solid game plan to successfully exit with enough money for all the labor you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your Santa Maria, California restaurant or do the task on your own. If you are considering selling your Santa Maria, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather any Important Paperwork

This is an important initial step to make when you commence the process of selling your Santa Maria, California restaurant.

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

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

Corbett Restaurant Group comes with expertise to help you in the market for sale of your Santa Maria, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show all these documents to a potrntial buyer right away. However, you should have them at hand because you will eventually require them during the sales process.

In addition, putting together these documents lets you see your Santa Maria, California restaurant through the lens of a buyer. It gives you a clear image of the Santa Maria, California restaurant you're selling. Furthermore, it helps you identify whether there are any loopholes you will have to take care of.

#2 Put Your Financials in Order

Your financial documents are an important part of selling your Santa Maria, California restaurant. This is why you should make an effort to have your documents complete and organized.

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

Your financial documents 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 these documents. This could make it easier for you to send the records to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Santa Maria, California restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders 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 Santa Maria, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this helps them estimate the value of your Santa Maria, 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 before trying to sell your Santa Maria, California restaurant.

The estimated time it takes to sell a Santa Maria, California restaurant is 6 months. Within the six months, there are many things you can do in order to increase your profit and slash various costs, and therefore strengthen the worth of your Santa Maria, California restaurant.

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

This will help you in coming up with the probable worth of your Santa Maria, California restaurant. When you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Good

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

To prevent this from happening, all things in and out of your Santa Maria, California restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also simple items that can help create a great initial impression.

Furthermore, you should ensure that all your equipment is in top condition. If your equipment is not working, it may send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial status and output abilities. It could even lower the excitment of your employees, 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 buying your Santa Maria, California restaurant.

#7 look for Santa Maria Buyers

Marketing to potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced Santa Maria, California restaurant broker to help. The professional Santa Maria, California restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this project yourself, you will need to carry out appropriate advertising. You can list your Santa Maria, California restaurant on business websites and tell family and friends about your plans to sell your Santa Maria, California restaurant.

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

#8 Be Ready

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

You will never know when a buyer will walk into your Santa Maria, California restaurant. Some buyers might even visit as customers just to carry out some research before contacting you.

#9 Sell Your Santa Maria, California Restaurant

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

You may need your attorney’s expertise in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This document includes details including the selling price of your Santa Maria, California restaurant, assets and equipment as well as inventory value.

Choosing a Santa Maria, California Restaurant Broker

While attempting to sell your Santa Maria, California restaurant on your own can be an exciting project, it could also be quite 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 expertise in order to stand above and against the cometitors while trying to attract buyers.

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

With the assistance of a Santa Maria, California restaurant broker, you can maintain your undivided attention on operating your Santa Maria, California restaurant and rest easy with the knowledge that a professional is in charge of selling your Santa Maria, California restaurant.

Contact a Santa Maria, California Restaurant Broker

Choosing to sell your Santa Maria, California restaurant through a Santa Maria, California restaurant broker has multiple advantages. First, however, you need to select the best Santa Maria, California restaurant broker to assist you in selling your Santa Maria, California restaurant.

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

Santa Maria Zip Codes We Support: 93454, 93455, 93456, 93458