Decided to Sell Your South El Monte, California Restaurant?

Following years of sweat equity, you have decided to sell your South El Monte, California restaurant

Considering opening a different South El Monte, California restaurant, moving, or even retiring. No matter the reason, selling a South El Monte, California restaurant can be a lot more challenging than you might realize. Thats because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the time you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You may either decide to contract with a eatery broker to help you in selling your South El Monte, California restaurant or take on the task yourself. Whether considering selling your South El Monte, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Business Paperwork

This is an important first step to take when you begin the process of marketing your South El Monte, California restaurant.

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

• A list of your assets
• Lease contract
• 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 comes with experience to assist you in the market for sale of your South El Monte, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a possible buyer right away. But, you should have them at hand because you will certainly require them during the sales process.

Also, putting together these documents lets you see your South El Monte, California restaurant through the lens of a buyer. This provides you a clear picture of the South El Monte, California restaurant you are selling. Furthermore, it allows you to show whether there are any concerns you will need to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial detail of selling your South El Monte, California restaurant. That’s why you should make it a priority to have your documents complete and well organized.

Offering your financial documents to prospective buyers may assist to clear any hesitations they may have concerning your South El Monte, California restaurant.

These financial records 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 may make it easier for you to transmit the documentation to potential buyers.

Also, as a seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later discovers these ommissions post sealing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your South El Monte, California restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your South El Monte, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed evaluation of your financials, whether favorable or not, this will help them estimate the true value of your South El Monte, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow planning to sell your South El Monte, California restaurant.

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

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This will help you in coming up with the probable worth of your South El Monte, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your South El Monte, California restaurant will go a long way in helping you attract potential buyers. Alternatively, if the overall look of your South El Monte, California restaurant does not look good to buyers, they likely take a pass immediately.

To prevent this from happening, everything in and out of your South El Monte, California restaurant must be clean. Landscaping and a clean parking lot may help create appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are also easy things that would help create a memorable initial impression.

Additionally, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working, it may send the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial capabilities and production abilities. It can even dampen the morale of your employees, which 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 regarding purchasing your South El Monte, California restaurant.

#7 Search for South El Monte Buyers

Looking for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced South El Monte, California restaurant broker to help. A professional South El Monte, California restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project yourself, you will need to create appropriate advertising. You can list your South El Monte, California restaurant on listing websites and tell family and friends about your plans to sell your South El Monte, California restaurant.

As you will likely come across competition when trying to sell your South El Monte, California restaurant, you need your restaurant to stand out.

#8 Be Ready

Whether you decide to sell your South El Monte, California restaurant yourself, or with a a South El Monte, California restaurant broker, you need to always be prepared. Be ready to show your South El Monte, California restaurant to potential buyers at all times.

You will never know when a buyer will walk into your South El Monte, California restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your South El Monte, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the contract. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a South El Monte, California Restaurant Broker

Although attempting to sell your South El Monte, California restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business transaction, you need some level of experience to stand out against your competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced South El Monte, California restaurant broker comes in. A South El Monte, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your South El Monte, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a South El Monte, California Restaurant Broker

Choosing to sell your South El Monte, California restaurant through a South El Monte, California restaurant broker has many advantages. First, however, you need to select the best South El Monte, California restaurant broker to assist you in selling your South El Monte, California restaurant.

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

South El Monte Zip Codes We Support: 91733