Ready to Sell Your Watsonville, California Restaurant?

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

Considering opening a new Watsonville, California restaurant, relocating, or even slowing down. No matter the reason, selling your Watsonville, California restaurant can be way more challenging than you may think. Thats because it takes careful preparation and a solid game plan to successfully exit with enough money for all the time you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

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

#1 Gather the Important Documentation

This is a necessary preparatory step to take when you start the process of selling your Watsonville, California restaurant.

The required documents may vary from state to state--even in California, but below is a list of a few general documents you may find helpful to have at hand:

• A list of 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 assist you in the market for sale of your Watsonville, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to show all these documents to a possible buyer day one. But, you should have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Watsonville, California restaurant through the lens of a buyer. This gives you a clear image of the Watsonville, California restaurant you're selling. In addition, it helps you show if there are any loopholes you'll need to address.

#2 Get Your Financial Documents in Order

Your financial records are an important detail of selling your Watsonville, California restaurant. This is why you should make an effort to make your documents accurate and well organized.

Offering your financial records to possible buyers could help clear any doubt they might have concerning your Watsonville, 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 documents. This can make it easier for you to transmit the documentation to prospective buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these things could create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Watsonville, California restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this will help them estimate the value of your Watsonville, California restaurant.

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

The estimated time it may take to sell a Watsonville, California restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and reduce various costs, and thus strengthen the worth of your Watsonville, 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 may aid you in deriving the probable worth of your Watsonville, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Watsonville, California restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general appearance of your Watsonville, California restaurant does not look good to buyers, they might pass over immediately.

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

Spot-free windows, polished handles and a presentable floor are also simple items that would help create a great first impression.

Additionally, you should ensure that all the equipment is in satisfactory 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 may rouse doubt about your financial status and output capabilities. It can even lower the mood of your employees, which 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 regarding purchasing your Watsonville, California restaurant.

#7 Search for Watsonville Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Watsonville, California restaurant broker to help. The professional Watsonville, California restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out appropriate advertising. You can market your Watsonville, California restaurant on listing websites and tell family and friends about your intentions to market for sale your Watsonville, California restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Watsonville, California restaurant. Some buyers may even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Watsonville, California Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the contract. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Watsonville, California Restaurant Broker

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

It's true, if you're looking to achieve the most out of the business deal, you need some level of expertise in order to stand out against your cometitors while attempting to find buyers.

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

With the help of a Watsonville, California restaurant broker, you can maintain your undivided attention on operating your Watsonville, California restaurant and rest easy knowing that a professional is in charge of selling your Watsonville, California restaurant.

Contact a Watsonville, California Restaurant Broker

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

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

Watsonville Zip Codes We Support: 95019, 95076, 95077