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

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

Contemplating opening a new eatery, moving, or maybe slowing down. No matter the reason, selling a Santa Paula, California restaurant can be way more complicated than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the time you’ve put into it.

Important Actions to Consider in Selling Your Restaurant

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

#1 Put Together the Business Documentation

This is an important first step to take when you start the process of marketing your Santa Paula, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of some general documents you may need to have at hand:

• Gather your assets
• Lease documentation
• 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 experience to help you in the sale of your Santa Paula, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer day one. However, you may want to have them on hand because you will eventually need them during the sales process.

Also, putting together these documents lets you see your Santa Paula, California restaurant through the lens of a buyer. It gives you a clear picture of the Santa Paula, California restaurant you are offering for sale. In addition, it allows you to show whether there are any areas you will have to address.

#2 Put Your Financial Records in Order

Your financial documents are a crucial aspect of selling your Santa Paula, California restaurant. This is why you should strive to make your documents complete and well organized.

Offering your financial documents to potential buyers could assist to clear any doubt they might have concerning your Santa Paula, California restaurant.

These financial documents may include:

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

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

Likewise, as a seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Santa Paula, California restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the true value of your Santa Paula, California restaurant.

This will be in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow before trying to sell your Santa Paula, California restaurant.

The average time it may take to sell a Santa Paula, California restaurant is 6 months. Within the six months, there is a lot you can do to strengthen your profit and cut several costs, and therefore increase the value of your Santa Paula, California restaurant.

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

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

#5 Increase Curb Appeal

The appearance of your Santa Paula, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the overall appearance of your Santa Paula, California restaurant does not look good to buyers, they might take a pass immediately.

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

Spot-free windows, polished handles and a neat floor are other simple items that could help create a great first impression.

Additionally, you should make sure all your equipment is in top condition. If your equipment is not working properly, it may send 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 status and output abilities. It may even dampen the mood of your employees, and 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 Santa Paula, California restaurant.

#7 Search for Santa Paula Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Santa Paula, California restaurant broker to help. The professional Santa Paula, California restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this project by yourself, you will need to carry out appropriate advertising. You can market your Santa Paula, California restaurant on business websites and let your family and friends know about your plans to market for sale your Santa Paula, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Santa Paula, California restaurant yourself, or through a Santa Paula, California restaurant broker, you should always be prepared. Be ready to show your Santa Paula, California restaurant to potential buyers at all times.

You will never know when a buyer could walk into your Santa Paula, California restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Santa Paula, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the deal. The paperwork will likely start with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Santa Paula, California Restaurant Broker

While trying to sell your Santa Paula, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

It's true, if you're looking to achieve the most out of the business deal, you need some level of experience in order to stand above and against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Santa Paula, California restaurant broker comes in. A Santa Paula, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Santa Paula, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

With the help of a Santa Paula, California restaurant broker, you can focus your undivided attention on operating your Santa Paula, California restaurant and rest easy knowing that a professional is in charge of selling your Santa Paula, California restaurant.

Contact a Santa Paula, California Restaurant Broker

Choosing to sell your Santa Paula, California restaurant through a Santa Paula, California restaurant broker has many advantages. First, however, you need to select the best Santa Paula, California restaurant broker to help you in selling your Santa Paula, California restaurant.

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

Santa Paula Zip Codes We Support: 93060, 93061