Decided to Sell Your Tujunga, California Restaurant?

Following years of sweat equity, you have made the decision sell your Tujunga, California restaurant

Contemplating opening a different eatery, moving, or maybe retiring. No matter the reason, selling a Tujunga, California restaurant can be way more challenging than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the labor you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You may either think to contract with a eatery broker to guide you in selling your Tujunga, California restaurant or do the task on your own. If you are considering selling your Tujunga, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together any Business Paperwork

This is an important preparatory step to take when you start the process of marketing your Tujunga, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of a few generalized documents you may find helpful to have at hand:

• A list of your assets
• Lease documentation
• 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 comes with expertise to assist you in the market for sale of your Tujunga, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal all these documents to a possible buyer day one. But, you may want to have them ready because you will eventually require them during the sales process.

Also, compiling these documents allows you to see your Tujunga, California restaurant through the lens of a buyer. This provides you a clear image of the Tujunga, California restaurant you're selling. In addition, it allows you to identify if there are any concerns you'll need to take care of.

#2 Get Your Financials in Order

Your financial documents are an important part of selling your Tujunga, California restaurant. This is the reason you should make it a priority to have these documents accurate and organized.

Offering your financial documents to possible buyers may help clear any hesitations they may have regarding your Tujunga, California restaurant.

The financial documents can include:

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

In addition, make sure you have soft copies of all of the documents. This will make it easier for you to transmit the information to prospective buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later discovers these ommissions after signing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Tujunga, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Tujunga, California restaurant and to possibly 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 your Tujunga, California restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Tujunga, California restaurant.

The estimated time it takes to sell a Tujunga, California restaurant is 6 months. Within those six months, there is a lot you can do to strengthen your profit and reduce several costs, and thus increase the value of your Tujunga, California restaurant.

In addition, when it comes to your assets, you'll 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 Tujunga, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Tujunga, California restaurant will go a great distance in helping you attract potential buyers. Conversely, if the general look of your Tujunga, California restaurant does not look good to buyers, they likely take a pass immediately.

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

Spot-free windows, polished door handles and a presentable floor are other simple items that would help create a memorable first impression.

Furthermore, you should ensure that all your equipment is in top condition. If your equipment is not working properly, it may convey the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial capabilities and output capabilities. It could even lower the mood of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Tujunga, California restaurant.

#7 look for Tujunga Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Tujunga, California restaurant broker to help. The professional Tujunga, California restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this project yourself, you will need to carry out proper advertising. You can show your Tujunga, California restaurant on listing websites and let your family and friends know about your intentions to sell your Tujunga, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Tujunga, California restaurant yourself, or with a a Tujunga, California restaurant broker, you need to always be prepared. Be ready to show your Tujunga, California restaurant to potential buyers at all times.

You will never know when a buyer could visit your Tujunga, California restaurant. Some buyers may even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Tujunga, California Restaurant

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

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

This document includes details such as the selling price of your Tujunga, California restaurant, items and equipment and inventory value.

Choosing a Tujunga, California Restaurant Broker

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

The fact remains, in order for you to achieve the most from of the business transaction, you need a higher level of experience in order to stand out against the cometitors while attempting to find buyers.

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

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

Contact a Tujunga, California Restaurant Broker

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

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

Tujunga Zip Codes We Support: 91042, 91043