Decided to Sell Your Tustin, California Restaurant?

After years of sweat equity, you have decided to sell your Tustin, California restaurant

Considering opening a different Tustin, California restaurant, moving, or maybe slowing down. No matter the reason, selling your Tustin, California restaurant can be way more difficult than you may realize. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough money for all the sweat you may have put into it.

Important Steps to Consider in Selling Your Restaurant

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

#1 Gather all Necessary Documentation

This is an important preparatory step to make when you start the process of offering your Tustin, California restaurant.

The required paperwork may vary from state to state--even in California, but the following is a list of some generalized documents you may need to have at hand:

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

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You probably do not want to show the majority of these documents to a potrntial buyer day one. But, you may want to have them ready because you will certainly require them during the sales process.

Also, compiling these documents allows you to view your Tustin, California restaurant through the lens of a buyer. It provides you a clear picture of the Tustin, California restaurant you're selling. In addition, it helps you identify if there are any loopholes you will need to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important part of selling your Tustin, California restaurant. This is why you should make it a priority to make your documents accurate and well organized.

Offering your financial documents to possible buyers could aid clear any hesitations they might have regarding your Tustin, California restaurant.

These financial documents can include:

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

Also, ensure you have hard copies of all of the records. This will make it easier for you to transmit the documentation to prospective buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items can create legal problems for you if a buyer later on discovers these liabilities post completing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Tustin, California restaurant, you need to understand of your commercial lease. It would be devestating if, after attracting a buyer, your lease prevents you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Tustin, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the true value of your Tustin, California restaurant.

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

The estimated time it takes to sell a Tustin, California restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and slash various costs, and thus increase the worth of your Tustin, California restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will assist you in estimating the probable value of your Tustin, California restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Tustin, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Tustin, California restaurant does not look good to buyers, they likely take a pass right off the bat.

To prevent this from happening, everything in and out of your Tustin, California restaurant must be clean. Landscaped and a clean parking area could help create appeal for prospective buyers.

Spot-free windows, polished handles and a presentable floor are also easy things that can help create a memorable first impression.

Furthermore, you should make sure that all the equipment is in top condition. If your equipment is not working, it can send 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 capabilities and production capabilities. It can even lower the excitment of your staff, and in response, 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 buying your Tustin, California restaurant.

#7 Search for Tustin Buyers

Searching for prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Tustin, California restaurant broker to help. A professional Tustin, California restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you make the decision to take on this project by yourself, you will need to create proper advertising. You can list your Tustin, California restaurant on business websites and tell family and friends about your plans to sell your Tustin, California restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Tustin, California restaurant. Some buyers might even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Tustin, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to finalize the deal. The documentation will likely 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 aspect of the deal.

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

Choosing a Tustin, California Restaurant Broker

Although attempting to sell your Tustin, California restaurant on your own can be an exhilarating project, it can also be very risky, especially for first time sellers.

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

Experience is also vital during negotiations with prospective buyers. This is where an experienced Tustin, California restaurant broker comes in. A Tustin, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Tustin, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Tustin, California Restaurant Broker

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

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

Tustin Zip Codes We Support: 92602, 92606, 92705, 92710, 92780, 92781, 92782