Decided to Sell Your South Gate, California Restaurant?

Following years of labor, you have made the decision sell your South Gate, California restaurant

Contemplating starting a new South Gate, California restaurant, relocating, or even retiring. No matter the reason, selling a South Gate, California restaurant can be a lot more difficult than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the sweat you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to hire a South Gate, California restaurant broker to guide you in selling your South Gate, California restaurant or do the task on your own. If you are considering selling your South Gate, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together all Business Documentation

This is an important preparatory step to take when you commence the process of marketing your South Gate, 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 has the expertise to help you in the market for sale of your South Gate, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show all these documents to a prospective buyer first day. But, you may want to have them ready because you will eventually need them during the sales process.

In addition, compiling these documents allows you to see your South Gate, California restaurant through the lens of a buyer. This gives you a clear image of the South Gate, California restaurant you're selling. Furthermore, it helps you identify if there are any concerns you'll need to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial aspect of selling your South Gate, California restaurant. That’s why you should make an effort to make these documents complete and organized.

Showing your financial records to prospective buyers could assist to clear any hesitations they may have regarding your South Gate, California restaurant.

The financial records could include:

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

Also, make sure you have soft copies of all of these documents. This may make it easier for you to transmit the documentation to prospective buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these things could create legal issues for you if a buyer later discovers these ommissions post closing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your South Gate, California restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financials, whether favorable or not, this will help them estimate the value of the South Gate, 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 Gate, California restaurant.

The estimated time it takes to sell a South Gate, California restaurant is six months. Within those six months, there are several things you can do to increase your profit and cut various costs, and therefore increase the worth of your South Gate, 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 may aid you in estimating the probable worth of your South Gate, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your South Gate, California restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the overall appearance of your South Gate, California restaurant does not look good to buyers, they could pass over without a second look.

To prevent this from happening, all things in and out of your South Gate, California restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are other small things that can help create a memorable initial impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not functioning, it might send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial capabilities and production abilities. It may even lower the excitment of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding purchasing your South Gate, California restaurant.

#7 look for South Gate Buyers

Looking for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced South Gate, California restaurant broker to help. The professional South Gate, California restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this task yourself, you will need to carry out appropriate advertising. You can market your South Gate, California restaurant on business websites and tell family and friends about your plans to sell your South Gate, California restaurant.

As you will likely run across competition when trying to sell your South Gate, California restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You never know when a buyer will visit your South Gate, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your South Gate, California Restaurant

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

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

This document includes details including the selling price of your South Gate, California restaurant, assets and equipment as well as inventory value.

Choosing a South Gate, California Restaurant Broker

Although attempting to sell your South Gate, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

It's true, if you're looking to get the most out of the business transaction, you need some level of experience in order to stand out against your cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced South Gate, California restaurant broker comes in. A South Gate, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your South Gate, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the help of a South Gate, California restaurant broker, you can maintain your undivided attention on operating your South Gate, California restaurant and rest assured knowing that a professional is in charge of selling your South Gate, California restaurant.

Contact a South Gate, California Restaurant Broker

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

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

South Gate Zip Codes We Support: 90280