Are You Ready to Sell Your Turlock, California Restaurant?

Following years of hard work, you have made the decision sell your Turlock, California restaurant

Considering opening a new Turlock, California restaurant, relocating, or maybe slowing down. Regardless of the reason, selling a Turlock, California restaurant can be way more difficult than you may think. Thats because it takes careful preparation and a solid strategy to successfully get out with enough money for all the time you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either think to hire a Turlock, California restaurant broker to assist you in selling your Turlock, California restaurant or do the task on your own. Whether considering selling your Turlock, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Important Documentation

This is an important initial step to make when you commence the process of offering your Turlock, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some general documents you may find helpful to have ready:

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your Turlock, California restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show all these documents to a prospective buyer right away. However, you may want to have them at hand because you will certainly require them during the sales process.

In addition, putting together these documents lets you view your Turlock, California restaurant through the lens of a buyer. This provides you a clear picture of the Turlock, California restaurant you're selling. In addition, it helps you show if there are any areas you'll need to address.

#2 Get Your Financial Documents in Order

Your financial records are an important aspect of selling your Turlock, California restaurant. That’s the reason you should strive to make these documents accurate and organized.

Showing your financial documents to potential buyers may assist to clear any hesitations they might have regarding your Turlock, California restaurant.

These financial records may include:

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

Also, make sure you have duplicate copies of all of these records. This can make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items may create legal problems for you if a buyer later discovers these liabilities post closing the deal.

#3 Organize the Information On Your Commercial Lease

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

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Turlock, California restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the value of your Turlock, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow planning to sell your Turlock, California restaurant.

The estimated time it may take to sell a Turlock, California restaurant is 6 months. Within those six months, there is a lot you can do in order to increase your profit and reduce several costs, and therefore strengthen the worth of your Turlock, California restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in coming up with the overall worth of your Turlock, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Turlock, California restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the general curb appeal of your Turlock, California restaurant does not look good to buyers, they likely take a pass without a second look.

To avoid this from happening, all things in and out of your Turlock, California restaurant must be cleaned and maintained. Landscaping and a clean parking area can help create appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are other small things that could help create a unforgettable first impression.

Furthermore, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it could convey the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and output capabilities. It could even lower the morale of your employees, 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 regarding purchasing your Turlock, California restaurant.

#7 look for Turlock Buyers

Marketing to prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Turlock, California restaurant broker to help. The professional Turlock, California restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this project alone, you will need to create proper advertising. You can list your Turlock, California restaurant on listing websites and let your family and friends know about your intentions to market for sale your Turlock, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Turlock, California restaurant. Some buyers may even visit as customers just to carry out some research before contacting you.

#9 Sell Your Turlock, California Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. The documentation will usually start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Turlock, California Restaurant Broker

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

It's true, in order for you to achieve the most out of the business transaction, you need some level of experience to stand above and against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Turlock, California restaurant broker is recommended. A Turlock, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Turlock, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Turlock, California Restaurant Broker

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

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

Turlock Zip Codes We Support: 95316, 95380, 95381, 95382