Decided to Sell Your Ventura, California Restaurant?

After years of hard work, you have decided to sell your Ventura, California restaurant

Contemplating starting a new eatery, moving, or maybe slowing down. Regardless of the reason, selling a Ventura, California restaurant can be a lot more difficult than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the sweat you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You may either decide to contract with a Ventura, California restaurant broker to assist you in selling your Ventura, California restaurant or take on the task on your own. If you are considering selling your Ventura, California restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Necessary Paperwork

This is an important first step to take when you commence the process of selling your Ventura, 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 find helpful to have on you:

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

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It's probably smart not to reveal the majority of these documents to a possible buyer day one. However, you may want to have them on hand because you will certainly require them during the sales process.

Also, putting together these documents lets you see your Ventura, California restaurant through the lens of a buyer. This gives you a clear picture of the Ventura, California restaurant you're selling. Furthermore, it allows you to identify whether there are any areas you will need to take care of.

#2 Put Your Financial Records in Order

Your financial documents are an important aspect of selling your Ventura, California restaurant. This is why you should make an effort to make your documents complete and well organized.

Offering your financial records to possible buyers could aid clear any doubt they may have regarding your Ventura, California restaurant.

The financial records could include:

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

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

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Ventura, California restaurant, you need to review 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 may advisable to have a discussion with your landlord concerning your plan to sell your Ventura, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the true value of the Ventura, California restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build your cash flow before trying to sell your Ventura, California restaurant.

The average time it may take to sell a Ventura, California restaurant is six months. Within the six months, there are several things you can do to strengthen your profit and slash various costs, and thus increase the worth of your Ventura, 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 assist you in deriving the probable worth of your Ventura, California restaurant. When you understand the overall value this may help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Ventura, California restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the overall look of your Ventura, California restaurant does not look good to buyers, they might take a pass immediately.

To avoid this from happening, everything in and out of your Ventura, California restaurant must be clean. Landscaped and a clean parking lot can help create curb appeal for prospective buyers.

Clean windows, polished handles and a clean floor are other easy things that would help create a memorable first impression.

Furthermore, you should ensure all your equipment is in satisfactory condition. If your equipment is not functioning, it can convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment could raise doubt about your financial capabilities and production capabilities. It can 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 regarding buying your Ventura, California restaurant.

#7 Search for Ventura Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Ventura, California restaurant broker to help. A professional Ventura, California restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this task alone, you will need to carry out appropriate advertising. You can show your Ventura, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Ventura, California restaurant.

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

#8 Be Ready

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

You'll never know when a buyer will visit your Ventura, California restaurant. Some buyers may even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Ventura, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Ventura, California Restaurant Broker

Although attempting to sell your Ventura, California restaurant on your own can be an exciting endeavor, it can also be very 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 expertise to stand above and against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Ventura, California restaurant broker comes in. A Ventura, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Ventura, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Ventura, California Restaurant Broker

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

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

Ventura Zip Codes We Support: 93001, 93002, 93003, 93004, 93005, 93006, 93007, 93009