Decided to Sell Your Woodland Hills, California Restaurant?

After years of hard work, you have made the decision sell your Woodland Hills, California restaurant

Contemplating opening a different Woodland Hills, California restaurant, moving, or maybe retiring. Regardless of the reason, selling your Woodland 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 get out with enough money for all the sweat you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either think to contract with a Woodland Hills, California restaurant broker to assist you in selling your Woodland Hills, California restaurant or do the task yourself. If you are considering selling your Woodland Hills, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather any Important Paperwork

This is a necessary preparatory step to make when you commence the process of selling your Woodland Hills, California restaurant.

The necessary paperwork may vary from state to state--even in California, but below is a list of some generalized documents you may find helpful to have at hand:

• Gather 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 has the experience to help you in the sale of your Woodland Hills, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a possible buyer right away. However, you may want to have them at hand because you will eventually require them during the sales process.

In addition, compiling these documents allows you to view your Woodland Hills, California restaurant through the lens of a buyer. This gives you a clear picture of the Woodland Hills, California restaurant you are selling. Furthermore, it helps you identify if there are any concerns you will need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your Woodland Hills, California restaurant. That’s the reason you should strive to have these documents complete and well organized.

Offering your financial records to potential buyers may aid clear any doubt they may have regarding your Woodland Hills, California restaurant.

These financial documents could include:

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

Also, make sure you have hard copies of all of these documents. This could make it easier for you to send the records to possible buyers.

Likewise, as a seller, you have to disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these liabilities post closing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Woodland Hills, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Woodland Hills, California restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this helps them evaluate the true value of your Woodland Hills, 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 up your cash flow starting to sell your Woodland Hills, California restaurant.

The estimated time it may take to sell a Woodland Hills, California restaurant is 6 months. Within the six months, there are many things you can do in order to strengthen your profit and reduce several costs, and therefore increase the value of your Woodland 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 will assist you in coming up with the probable worth of your Woodland Hills, California restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Woodland Hills, California restaurant will go a long way in helping you bring potential buyers. Conversely, if the overall aesthetic of your Woodland Hills, California restaurant does not appeal to buyers, they might take a pass immediately.

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

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

Furthermore, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working, 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 could even lower the morale of your staff, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Woodland Hills, California restaurant.

#7 look for Woodland Hills Buyers

Looking for potential buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire a professional Woodland Hills, California restaurant broker to help. The professional Woodland Hills, California restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project yourself, you will need to carry out appropriate advertising. You can show your Woodland Hills, California restaurant on business websites and let your family and friends know about your intentions to market for sale your Woodland Hills, California restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Woodland Hills, California Restaurant

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

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

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

Choosing a Woodland Hills, California Restaurant Broker

While attempting to sell your Woodland Hills, California restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

It's true, if you're looking to achieve the most out of the business transaction, you need some level of experience to stand out against your cometitors while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Woodland Hills, California restaurant broker is recommended. A Woodland Hills, California restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Woodland Hills, California restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Woodland Hills, California Restaurant Broker

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

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

Woodland Hills Zip Codes We Support: 91364, 91365, 91367, 91371