Ready to Sell Your West Hills, California Restaurant?

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

Considering opening a different West Hills, California restaurant, moving, or even retiring. Regardless of the reason, selling your West Hills, California restaurant can be way more complicated than you might realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough profit for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either make the decision to hire a eatery broker to help you in selling your West Hills, California restaurant or take on the task yourself. If you are considering selling your West Hills, California restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Necessary Paperwork

This is an important first step to make when you commence the process of offering your West Hills, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of some standard documents you may need to have at hand:

• A list of your assets
• Lease documentation
• 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 comes with experience to help you in the sale of your West Hills, California restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, putting together these documents allows you to view your West Hills, California restaurant through the lens of a buyer. This gives you a clear image of the West Hills, California restaurant you are selling. Furthermore, it helps you show if there are any concerns you will have to address.

#2 Put Your Financials in Order

Your financial documents are an important aspect of selling your West Hills, California restaurant. This is the reason you should make it a priority to make these documents complete and organized.

Showing your financial records to potential buyers may assist to clear any hesitations they might have regarding your West Hills, California restaurant.

The financial documents could 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 will make it easier for you to send the information to possible buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your West Hills, California restaurant, you need to review 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 is advisable to have a discussion with your landlord regarding your plan to sell your West Hills, California restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

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

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow planning to sell your West Hills, California restaurant.

The average time it may take to sell a West Hills, California restaurant is 6 months. Within those six months, there is a lot you can do in order to strengthen your profit and cut several costs, and thus increase the value of your West Hills, California restaurant.

Also, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may aid you in deriving the probable worth of your West Hills, California restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Better

The appearance of your West Hills, California restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general look of your West Hills, California restaurant does not look good to buyers, they likely take a pass right off the bat.

To avoid this from happening, everything in and out of your West Hills, California restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a clean floor are also simple items that can help create a great initial impression.

Additionally, you should make sure all the equipment is in top 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 status and output abilities. It could even dampen 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 potential buyers concerning buying your West Hills, California restaurant.

#7 Search for West Hills Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced West Hills, California restaurant broker to help. The professional West Hills, 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 project alone, you will need to carry out appropriate advertising. You can offer your West Hills, California restaurant on listing websites and let your family and friends know about your plans to market for sale your West Hills, California restaurant.

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

#8 Be Ready

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

You'll never know when a buyer will walk into your West Hills, California restaurant. Some buyers may even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your West Hills, California Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the transaction. The paperwork will usually start with the Asset Purchase Agreement.

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

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

Choosing a West Hills, California Restaurant Broker

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

It's true, in order for you to achieve the most out of the business deal, you need some level of experience to stand out against the cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced West Hills, California restaurant broker is needed. A West Hills, California restaurant broker has the resources, experience and strategy required to easily take on the task of selling your West Hills, California restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

With the assistance of a West Hills, California restaurant broker, you can focus your undivided attention on operating your West Hills, California restaurant and rest easy with the knowledge that a professional is in charge of selling your West Hills, California restaurant.

Contact a West Hills, California Restaurant Broker

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

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

West Hills Zip Codes We Support: 91307, 91308