Are You Ready to Sell Your Upland, California Restaurant?

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

Considering opening a different eatery, relocating, or maybe retiring. Regardless of the reason, selling your Upland, California restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You may either decide to hire a Upland, California restaurant broker to guide you in selling your Upland, California restaurant or take on the task yourself. Whether considering selling your Upland, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together the Business Documentation

This is an important preparatory step to take when you begin the process of selling your Upland, California restaurant.

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

• Gather your assets
• Lease document
• 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 has the experience to help you in the sale of your Upland, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, compiling these documents lets you see your Upland, California restaurant through the lens of a buyer. It gives you a clear picture of the Upland, California restaurant you are offering for sale. Furthermore, it allows you to identify whether there are any areas you'll need to address.

#2 Put Your Financial Records in Order

Your financial records are an important detail of selling your Upland, California restaurant. That’s why you should make an effort to make these documents accurate and well organized.

Offering your financial records to potential buyers may aid clear any hesitations they may have regarding your Upland, California restaurant.

These financial documents can include:

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

In addition, ensure you have hard copies of all of these records. This could make it easier for you to transmit the information to prospective buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these things could create legal problems for you if a buyer later on discovers these liabilities after signing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Upland, California restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed analysis of your financial records, whether favorable or not, this will help them estimate the true value of your Upland, California restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow starting to sell your Upland, California restaurant.

The average time it takes to sell a Upland, California restaurant is 6 months. Within those six months, there is a lot you can do to increase your profit and reduce several costs, and therefore strengthen the value of your Upland, 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 will assist you in coming up with the probable worth of your Upland, California restaurant. If you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Upland, California restaurant could go a long way in helping you attract potential buyers. Conversely, if the general look of your Upland, California restaurant does not look good to buyers, they could take a pass immediately.

To avoid this from happening, everything in and out of your Upland, California restaurant must be clean. Landscaped and a clean parking area can help create appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are other simple items that can help create a memorable initial impression.

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

Faulty equipment can raise doubt about your financial capabilities and production abilities. It could even lower the morale of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning purchasing your Upland, California restaurant.

#7 look for Upland Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Upland, California restaurant broker to help. A professional Upland, California restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you decide to handle this task yourself, you will need to create appropriate advertising. You can show your Upland, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Upland, California restaurant.

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

#8 Be Prepared

If you decide to sell your Upland, California restaurant yourself, or with a a Upland, California restaurant broker, you need to always be prepared. Be ready to show your Upland, California restaurant to prospective buyers at all times.

You never know when a buyer could walk into your Upland, California restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Upland, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the deal. The paperwork often begin with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your Upland, California restaurant, items and equipment as well as inventory value.

Choosing a Upland, California Restaurant Broker

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

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

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

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

Contact a Upland, California Restaurant Broker

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

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

Upland Zip Codes We Support: 91784, 91785, 91786