Time to Sell Your Thousand Oaks, California Restaurant?

Following years of labor, you have decided to sell your Thousand Oaks, California restaurant

Contemplating opening a new Thousand Oaks, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Thousand Oaks, California restaurant can be a lot more difficult than you might realize. Thats because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the sweat you may have put into it.

Important Actions to Consider in Selling Your Restaurant

You may either make the decision to contract with a Thousand Oaks, California restaurant broker to assist you in selling your Thousand Oaks, California restaurant or do the task yourself. Whether considering selling your Thousand Oaks, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Necessary Paperwork

This is an important initial step to take when you commence the process of selling your Thousand Oaks, California restaurant.

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

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

Corbett Restaurant Group comes with experience to assist you in the sale of your Thousand Oaks, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal the majority of these documents to a prospective buyer first day. However, you should have them ready because you will eventually require them during the sales process.

In addition, putting together these documents lets you view your Thousand Oaks, California restaurant through the lens of a buyer. It provides you a clear image of the Thousand Oaks, California restaurant you are selling. Furthermore, it allows you to identify whether there are any loopholes you'll have to address.

#2 Put Your Financial Records in Order

Your financial documents are an important part of selling your Thousand Oaks, California restaurant. This is why you should make an effort to make these documents accurate and well organized.

Offering your financial records to possible buyers may aid clear any hesitations they may have regarding your Thousand Oaks, California restaurant.

These financial records can include:

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

In addition, make sure you have hard copies of all of the records. This will make it easier for you to transmit the records to possible buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items can create legal problems for you if a buyer later discovers these ommissions post completing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Thousand Oaks, California restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this helps them evaluate the value of your Thousand Oaks, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to build up your cash flow starting to sell your Thousand Oaks, California restaurant.

The estimated time it may take to sell a Thousand Oaks, California restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and slash various costs, and therefore increase the value of your Thousand Oaks, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may help you in deriving the overall value of your Thousand Oaks, California restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Thousand Oaks, California restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall curb appeal of your Thousand Oaks, California restaurant does not appeal to buyers, they likely pass over without consideration.

To prevent this from happening, all things in and out of your Thousand Oaks, California restaurant must be cleaned and maintained. Landscaped and a clean parking area may help create curb appeal for potential buyers.

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

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not functioning, it may convey 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 status and production capabilities. It may even dampen the morale of your employees, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Thousand Oaks, California restaurant.

#7 look for Thousand Oaks Buyers

Searching for potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Thousand Oaks, California restaurant broker to help. The professional Thousand Oaks, California restaurant broker will have 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 create appropriate advertising. You can show your Thousand Oaks, California restaurant on business websites and tell family and friends about your plans to market for sale your Thousand Oaks, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Thousand Oaks, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the contract. The paperwork will likely begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Thousand Oaks, California Restaurant Broker

While attempting to sell your Thousand Oaks, California restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

The fact remains, in order for you to get the most from of the business deal, you need a higher level of expertise to stand above and against your competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Thousand Oaks, California restaurant broker is recommended. A Thousand Oaks, California restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Thousand Oaks, California restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Thousand Oaks, California Restaurant Broker

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

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

Thousand Oaks Zip Codes We Support: 91319, 91320, 91358, 91359, 91360, 91361, 91362, 93012, 93021, 93065