Decided to Sell Your Seal Beach, California Restaurant?

Following years of sweat equity, you have decided to sell your Seal Beach, California restaurant

Considering opening a different Seal Beach, California restaurant, relocating, or maybe retiring. No matter the reason, selling a Seal Beach, California restaurant can be way more complicated than you might think. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your Seal Beach, California restaurant or do the task yourself. Whether considering selling your Seal Beach, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Gather the Important Documentation

This is a necessary initial step to take when you commence the process of selling your Seal Beach, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of some general documents you may need to have on you:

• A list of your assets
• Lease contract
• 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 experience to help you in the market for sale of your Seal Beach, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer right away. However, you may want to have them at hand because you will eventually require them during the sales process.

In addition, putting together these documents allows you to view your Seal Beach, California restaurant through the lens of a buyer. It provides you a clear image of the Seal Beach, California restaurant you're offering for sale. Furthermore, it helps you identify whether there are any concerns you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are an important part of selling your Seal Beach, California restaurant. This is the reason you should make an effort to make your documents accurate and well organized.

Offering your financial documents to possible buyers may assist to clear any doubt they may have regarding your Seal Beach, California restaurant.

The financial documents could include:

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

Also, ensure you have soft copies of all of the records. This will make it easier for you to transmit the information to prospective buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these things may create legal issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Seal Beach, California restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Seal Beach, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this helps with estimating the value of the Seal Beach, California restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build your cash flow before trying to sell your Seal Beach, California restaurant.

The average time it takes to sell a Seal Beach, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and reduce various costs, and thus strengthen the value of your Seal Beach, California restaurant.

In addition, 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 assist you in coming up with the overall value of your Seal Beach, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Seal Beach, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Seal Beach, California restaurant does not appeal to buyers, they could pass over right off the bat.

To avoid this from happening, all things in and out of your Seal Beach, California restaurant must be clean. Landscaping and a clean parking lot could help create appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are other small things that could help create a great initial impression.

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

Non-functional equipment can raise doubt about your financial capabilities and output capabilities. It may even lower the excitment of your employees, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding buying your Seal Beach, California restaurant.

#7 Search for Seal Beach Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire a professional Seal Beach, California restaurant broker to help. The professional Seal Beach, California restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to create appropriate advertising. You can list your Seal Beach, California restaurant on listing websites and let your family and friends know about your plans to sell your Seal Beach, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Seal Beach, California restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your Seal Beach, California Restaurant

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

You should have your attorney’s help in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Seal Beach, California Restaurant Broker

Although trying to sell your Seal Beach, California restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first-timers.

It's true, if you're looking to get the most out of the business deal, you need a higher level of experience in order to stand above and against the cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Seal Beach, California restaurant broker is needed. A Seal Beach, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Seal Beach, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

With the assistance of a Seal Beach, California restaurant broker, you can focus your undivided attention on operating your Seal Beach, California restaurant and rest assured with the knowledge that a professional is in charge of selling your Seal Beach, California restaurant.

Contact a Seal Beach, California Restaurant Broker

Deciding to sell your Seal Beach, California restaurant through a Seal Beach, California restaurant broker has many advantages. First, however, you need to select the best Seal Beach, California restaurant broker to help you in selling your Seal Beach, California restaurant.

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

Seal Beach Zip Codes We Support: 90720, 90740, 90743, 92649