Decided to Sell Your Sherman Oaks, California Restaurant?

After years of sweat equity, you have made the decision sell your Sherman Oaks, California restaurant

Considering starting a new Sherman Oaks, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling your Sherman Oaks, California restaurant can be a lot more complicated than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the sweat you’ve put into it.

Necessary Actions to Consider when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Sherman Oaks, California restaurant or take on the task on your own. If you are considering selling your Sherman Oaks, California restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Put Together the Necessary Documentation

This is an important first step to take when you begin the process of offering your Sherman Oaks, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of some standard documents you may be requierd to have at hand:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Sherman Oaks, 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 day one. However, you should have them ready because you will eventually require them during the sales process.

In addition, compiling these documents lets you see your Sherman Oaks, California restaurant through the lens of a buyer. It gives you a clear image of the Sherman Oaks, California restaurant you are offering for sale. In addition, it helps you identify whether there are any areas you'll need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial aspect of selling your Sherman Oaks, California restaurant. That’s the reason you should make an effort to make your documents complete and organized.

Showing your financial documents to potential buyers may aid clear any doubt they may have regarding your Sherman Oaks, California restaurant.

Your financial documents could include:

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

In addition, ensure you have duplicate copies of all of the documents. This could make it easier for you to send the documentation to prospective buyers.

Likewise, as the seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Sherman Oaks, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Sherman Oaks, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth analysis of your financial records, whether favorable or not, this helps them estimate the value of the Sherman Oaks, California restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow before trying to sell your Sherman Oaks, California restaurant.

The estimated time it may take to sell a Sherman Oaks, California restaurant is six months. Within those six months, there are several things you can do in order to increase your profit and cut several costs, and therefore strengthen the worth of your Sherman Oaks, California restaurant.

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

This will assist you in estimating the overall worth of your Sherman Oaks, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Sherman Oaks, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the general look of your Sherman Oaks, California restaurant does not look good to buyers, they could pass over without consideration.

To prevent this from happening, everything in and out of your Sherman Oaks, California restaurant must be cleaned and maintained. Manicured and a clean parking area could help create appeal for prospective buyers.

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

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

Non-functional equipment could raise doubt about your financial status and output capabilities. It could even lower the morale of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning buying your Sherman Oaks, California restaurant.

#7 Search for Sherman Oaks Buyers

Looking for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Sherman Oaks, California restaurant broker to help. The professional Sherman Oaks, California restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project alone, you will need to create appropriate advertising. You can list your Sherman Oaks, California restaurant on listing websites and tell family and friends about your intentions to market for sale your Sherman Oaks, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Sherman Oaks, California restaurant. Some buyers may even visit as customers in order to perform some research before contacting you.

#9 Sell Your Sherman Oaks, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the transaction. The documentation will likely begin with the Asset Purchase Agreement.

You may need your attorney’s help in creating 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 Sherman Oaks, California restaurant, assets and equipment as well as inventory value.

Choosing a Sherman Oaks, California Restaurant Broker

While attempting to sell your Sherman Oaks, California restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business transaction, you need a higher level of expertise in order to stand out against the cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Sherman Oaks, California restaurant broker is recommended. A Sherman Oaks, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Sherman Oaks, California restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Sherman Oaks, California Restaurant Broker

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

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

Sherman Oaks Zip Codes We Support: 91403, 91413, 91423, 91495