Right Time to Sell Your Walnut Creek, California Restaurant?

After years of sweat equity, you have made the decision sell your Walnut Creek, California restaurant

Contemplating starting a new Walnut Creek, California restaurant, relocating, or even retiring. No matter the reason, selling a Walnut Creek, California restaurant can be a lot more challenging than you may think. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the labor you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Walnut Creek, California restaurant or do the task yourself. If you are considering selling your Walnut Creek, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together any Business Documentation

This is a necessary preparatory step to take when you commence the process of selling your Walnut Creek, 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 be requierd to have on you:

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your Walnut Creek, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a potrntial buyer day one. But, you should have them on hand because you will certainly need them during the sales process.

Also, putting together these documents allows you to see your Walnut Creek, California restaurant through the lens of a buyer. This provides you a clear image of the Walnut Creek, California restaurant you're offering for sale. Furthermore, it helps you identify whether there are any areas you'll need to address.

#2 Get Your Financial Documents in Order

Your financial documents are an important part of selling your Walnut Creek, California restaurant. That’s why you should make an effort to have your documents accurate and well organized.

Offering your financial records to possible buyers may aid clear any doubt they may have concerning your Walnut Creek, California restaurant.

These financial documents may include:

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

Also, ensure you have soft copies of all of these documents. This could make it easier for you to transmit the records to potential buyers.

In addition, as the seller, you have to disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these items could create legal problems for you if a buyer later discovers these liabilities post closing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Walnut Creek, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Walnut Creek, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the value of your Walnut Creek, California restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow planning to sell your Walnut Creek, California restaurant.

The estimated time it may take to sell a Walnut Creek, California restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and reduce several costs, and therefore strengthen the value of your Walnut Creek, California restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

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

#5 Increase Curb Appeal

The appearance of your Walnut Creek, California restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general aesthetic of your Walnut Creek, California restaurant does not appeal to buyers, they might take a pass right off the bat.

To prevent this from happening, all things in and out of your Walnut Creek, California restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create curb appeal for prospective buyers.

Clean windows, polished handles and a clean floor are also simple things that would help create a unforgettable initial impression.

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

Faulty equipment also raises doubt about your financial capabilities and production abilities. It can even dampen the morale of your employees, and in turn, 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 Walnut Creek, California restaurant.

#7 Search for Walnut Creek Buyers

Marketing to potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire an experienced Walnut Creek, California restaurant broker to help. A professional Walnut Creek, California restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this task yourself, you will need to carry out appropriate advertising. You can offer your Walnut Creek, California restaurant on business websites and tell family and friends about your intentions to sell your Walnut Creek, California restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Walnut Creek, California restaurant yourself, or through a Walnut Creek, California restaurant broker, you should always be ready. Be ready to show your Walnut Creek, California restaurant to prospective buyers at all times.

You never know when a buyer will visit your Walnut Creek, California restaurant. Some buyers might even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Walnut Creek, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The documentation will usually start with the Asset Purchase Agreement.

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

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

Choosing a Walnut Creek, California Restaurant Broker

While trying to sell your Walnut Creek, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first time sellers.

It's true, in order for you to achieve the most out of the business deal, you need a higher level of expertise to stand out against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Walnut Creek, California restaurant broker is needed. A Walnut Creek, California restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Walnut Creek, California restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

With the help of a Walnut Creek, California restaurant broker, you can focus your undivided attention on operating your Walnut Creek, California restaurant and rest assured knowing that a professional is in charge of selling your Walnut Creek, California restaurant.

Contact a Walnut Creek, California Restaurant Broker

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

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

Walnut Creek Zip Codes We Support: 94507, 94518, 94521, 94529, 94595, 94596, 94597, 94598