Are You Ready to Sell Your Vallejo, California Restaurant?

Following years of hard work, you have decided to sell your Vallejo, California restaurant

Contemplating starting a new Vallejo, California restaurant, moving, or even retiring. Regardless of the reason, selling a Vallejo, California restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the sweat you’ve put into it.

Necessary Actions to Consider when Selling Your Restaurant

You may either make the decision to contract with a eatery broker to assist you in selling your Vallejo, California restaurant or take on the task yourself. Whether considering selling your Vallejo, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Necessary Documentation

This is a necessary first step to make when you start the process of offering your Vallejo, California restaurant.

The necessary paperwork may vary from state to state--even in California, but the following is a list of a few general documents you may find helpful to have prepared:

• Gather your assets
• Lease contract
• 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 experience to assist you in the sale of your Vallejo, California restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

In addition, compiling these documents allows you to view your Vallejo, California restaurant through the lens of a buyer. This provides you a clear picture of the Vallejo, California restaurant you're selling. Furthermore, it helps you show if there are any loopholes you'll need to take care of.

#2 Put Your Financial Documents in Order

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

Showing your financial records to prospective buyers may assist to clear any doubt they might have concerning your Vallejo, California restaurant.

Your financial records 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 these documents. This can make it easier for you to send the records to prospective buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items could create legal issues for you if a buyer later on discovers these ommissions post closing the deal.

#3 Gather the Information On Your Commercial Lease

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

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Vallejo, California restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the value of your Vallejo, California restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow starting to sell your Vallejo, California restaurant.

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

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

This may assist you in estimating the overall worth of your Vallejo, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Vallejo, California restaurant will go a great distance in helping you bring potential buyers. Conversely, if the general curb appeal of your Vallejo, California restaurant does not look good to buyers, they could pass over without a second look.

To avoid this from happening, all things in and out of your Vallejo, California restaurant must be cleaned and maintained. Manicured and a clean parking area could help create curb appeal for potential buyers.

Clean windows, polished handles and a presentable floor are also easy things that would help create a unforgettable first impression.

Additionally, you should ensure that all the equipment is in satisfactory condition. If your equipment is not working properly, it may convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial situation and production abilities. It could even lower the mood of your staff, and in response, 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 Vallejo, California restaurant.

#7 Search for Vallejo Buyers

Marketing to prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Vallejo, California restaurant broker to help. The professional Vallejo, California restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project by yourself, you will need to create proper advertising. You can list your Vallejo, California restaurant on listing websites and tell family and friends about your intentions to market for sale your Vallejo, California restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Vallejo, California restaurant. Some buyers may even visit as customers in order to carry out some research before contacting you.

#9 Sell Your Vallejo, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the deal. The paperwork will likely start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the contract.

This agreement includes details such as the selling price of your Vallejo, California restaurant, assets and equipment as well as inventory value.

Choosing a Vallejo, California Restaurant Broker

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

It's true, if you're looking to get the most out of the business transaction, you need some level of experience to stand above and against your cometitors while trying to attract buyers.

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

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

Contact a Vallejo, California Restaurant Broker

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

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

Vallejo Zip Codes We Support: 94534, 94589, 94590, 94591, 94592