Time to Sell Your Visalia, California Restaurant?

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

Contemplating opening a different Visalia, California restaurant, relocating, or even slowing down. Regardless of the reason, selling a Visalia, California restaurant can be a lot more complicated than you might realize. Thats because it takes thoughtful preparation and a solid strategy to successfully exit with enough money for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to hire a eatery broker to help you in selling your Visalia, California restaurant or do the task yourself. Whether considering selling your Visalia, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together all Business Paperwork

This is a necessary preparatory step to make when you commence the process of offering your Visalia, California restaurant.

The required paperwork may vary from state to state--even in California, but below is a list of some generalized documents you may be requierd to have on you:

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

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

It's probably smart not to show all these documents to a potrntial buyer first day. But, you may want to have them ready because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Visalia, California restaurant through the lens of a buyer. This provides you a clear image of the Visalia, California restaurant you're offering for sale. In addition, it allows you to show whether there are any areas you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial detail of selling your Visalia, California restaurant. That’s the reason you should make it a priority to make your documents complete and well organized.

Showing your financial documents to potential buyers may aid clear any hesitations they might have concerning your Visalia, California restaurant.

The 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 records. This will make it easier for you to transmit the information to prospective buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later discovers these liabilities post completing the deal.

#3 Put Together the Details of Your Commercial Lease

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

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Visalia, California restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of your Visalia, 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 Visalia, California restaurant.

The average time it may take to sell a Visalia, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and reduce various costs, and thus strengthen the value of your Visalia, 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 estimating the probable worth of your Visalia, California restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Visalia, California restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the general curb appeal of your Visalia, California restaurant does not appeal to buyers, they could pass over without consideration.

To avoid this from happening, all things in and out of your Visalia, California restaurant must be clean. Landscaped and a clean parking area could help create appeal for prospective buyers.

Clean windows, polished handles and a presentable floor are also simple items that can help create a great first impression.

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

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

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

#7 Search for Visalia Buyers

Marketing to prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Visalia, California restaurant broker to help. A professional Visalia, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this task alone, you will need to create proper advertising. You can list your Visalia, California restaurant on listing websites and let your family and friends know about your plans to sell your Visalia, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer will visit your Visalia, California restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your Visalia, California Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Visalia, California Restaurant Broker

Although attempting to sell your Visalia, California restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most out of the business deal, you need some level of expertise to stand out against the competition while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Visalia, California restaurant broker is needed. A Visalia, California restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Visalia, California restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Visalia, California Restaurant Broker

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

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

Visalia Zip Codes We Support: 93227, 93277, 93278, 93279, 93290, 93291, 93292