Are You Ready to Sell Your South San Francisco, California Restaurant?

After years of sweat equity, you have decided to sell your South San Francisco, California restaurant

Contemplating starting a different eatery, relocating, or even retiring. No matter the reason, selling your South San Francisco, 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 money for all the labor you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either make the decision to hire a eatery broker to guide you in selling your South San Francisco, California restaurant or do the task on your own. Whether considering selling your South San Francisco, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Documentation

This is an important first step to take when you start the process of marketing your South San Francisco, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the market for sale of your South San Francisco, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a prospective buyer right away. However, you should have them on hand because you will certainly require them during the sales process.

In addition, putting together these documents lets you view your South San Francisco, California restaurant through the lens of a buyer. It gives you a clear picture of the South San Francisco, California restaurant you're selling. In addition, it allows you to identify if there are any areas you will have to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important detail of selling your South San Francisco, California restaurant. This is why you should make it a priority to have these documents accurate and well organized.

Offering your financial documents to potential buyers may aid clear any doubt they might have concerning your South San Francisco, California restaurant.

These financial documents can include:

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

Also, make sure you have hard copies of all of the records. This may make it easier for you to send the documentation to prospective buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things can create legal issues for you if a buyer later on discovers these liabilities post closing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your South San Francisco, California restaurant, you must find out the terms 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 may advisable to have a discussion with your landlord concerning your plan to sell your South San Francisco, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the value of the South San Francisco, California restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your South San Francisco, California restaurant.

The average time it may take to sell a South San Francisco, California restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and reduce various costs, and therefore increase the value of your South San Francisco, 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 may help you in estimating the probable worth of your South San Francisco, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your South San Francisco, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the general appearance of your South San Francisco, California restaurant does not look good to buyers, they might pass over immediately.

To prevent this from happening, everything in and out of your South San Francisco, California restaurant must be cleaned and maintained. Manicured 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 unforgettable first impression.

Additionally, you should ensure all your equipment is in satisfactory condition. If your equipment is not functioning, it can send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment could raise doubt about your financial status and production abilities. It could even lower the morale of your staff, 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 prospective buyers concerning purchasing your South San Francisco, California restaurant.

#7 look for South San Francisco Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of experience. This may require that you hire an experienced South San Francisco, California restaurant broker to help. The professional South San Francisco, California restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this task alone, you will need to create appropriate advertising. You can offer your South San Francisco, California restaurant on listing websites and tell family and friends about your plans to sell your South San Francisco, California restaurant.

As you will probably run across competition when trying to sell your South San Francisco, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

Regardless if you decide to sell your South San Francisco, California restaurant yourself, or through a South San Francisco, California restaurant broker, you should always be prepared. Be ready to show your South San Francisco, California restaurant to prospective buyers at all times.

You never know when a buyer will walk into your South San Francisco, California restaurant. Some buyers may even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your South San Francisco, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your South San Francisco, California restaurant, assets and equipment and inventory value.

Choosing a South San Francisco, California Restaurant Broker

While trying to sell your South San Francisco, California restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business transaction, you need a higher level of expertise to stand out against the competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced South San Francisco, California restaurant broker is needed. A South San Francisco, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your South San Francisco, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

With the help of a South San Francisco, California restaurant broker, you can maintain your undivided attention on operating your South San Francisco, California restaurant and rest easy with the knowledge that a professional is in charge of selling your South San Francisco, California restaurant.

Contact a South San Francisco, California Restaurant Broker

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

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

South San Francisco Zip Codes We Support: 94080, 94083, 94128