Time to Sell Your Simi Valley, California Restaurant?

Following years of sweat equity, you have decided to sell your Simi Valley, California restaurant

Contemplating opening a different Simi Valley, California restaurant, moving, or even slowing down. No matter the reason, selling your Simi Valley, California restaurant can be a lot more difficult than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough proceeds for all the sweat you may have put into it.

Important Actions to Consider when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to guide you in selling your Simi Valley, California restaurant or take on the task yourself. If you are considering selling your Simi Valley, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Business Paperwork

This is a necessary preparatory step to take when you commence the process of marketing your Simi Valley, California restaurant.

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

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

Corbett Restaurant Group has the expertise to help you in the sale of your Simi Valley, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to show the majority of these documents to a potrntial buyer day one. However, you may want to have them at hand because you will eventually require them during the sales process.

Also, compiling these documents allows you to view your Simi Valley, California restaurant through the lens of a buyer. It provides you a clear picture of the Simi Valley, California restaurant you are selling. In addition, it allows you to show if there are any areas you'll have to take care of.

#2 Put Your Financials in Order

Your financial documents are an important aspect of selling your Simi Valley, California restaurant. That’s why you should make an effort to make these documents complete and well organized.

Showing your financial records to prospective buyers could assist to clear any doubt they might have concerning your Simi Valley, California restaurant.

Your financial documents can include:

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

Also, ensure you have duplicate copies of all of these records. This can make it easier for you to transmit the records to prospective buyers.

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

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Simi Valley, California restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Simi Valley, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth analysis of your financial records, whether favorable or not, this will help them estimate the value of your Simi Valley, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to build your cash flow before trying to sell your Simi Valley, California restaurant.

The average time it takes to sell a Simi Valley, California restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and reduce several costs, and therefore increase the value of your Simi Valley, California restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will aid you in deriving the probable value of your Simi Valley, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Simi Valley, California restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall aesthetic of your Simi Valley, California restaurant does not appeal to buyers, they might pass over right off the bat.

To avoid this from happening, all things in and out of your Simi Valley, California restaurant must be cleaned and maintained. Landscaped and a clean parking area could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a clean floor are also simple things that could help create a memorable initial impression.

Furthermore, you should make sure that all the equipment is in satisfactory condition. If your equipment is not functioning, 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 capabilities and output capabilities. It could even lower the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 Search for Simi Valley Buyers

Searching for potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Simi Valley, California restaurant broker to help. A professional Simi Valley, California restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out proper advertising. You can offer your Simi Valley, California restaurant on business websites and tell family and friends about your plans to market for sale your Simi Valley, California restaurant.

As you will probably run across competition when trying to sell your Simi Valley, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Simi Valley, California restaurant yourself, or with a a Simi Valley, California restaurant broker, you should always be ready. Be ready to show your Simi Valley, California restaurant to potential buyers at all times.

You will never know when a buyer could walk into your Simi Valley, California restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Simi Valley, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the contract. The paperwork often begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

This agreement includes details including the selling price of your Simi Valley, California restaurant, items and equipment as well as inventory value.

Choosing a Simi Valley, California Restaurant Broker

Although trying to sell your Simi Valley, California restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business transaction, you need a higher level of expertise in order to stand above and against the competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Simi Valley, California restaurant broker is needed. A Simi Valley, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Simi Valley, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Simi Valley, California Restaurant Broker

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

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

Simi Valley Zip Codes We Support: 91362, 93021, 93062, 93063, 93064, 93065, 93093, 93094, 93099