Ready to Sell Your Yuba City, California Restaurant?

Following years of labor, you have decided to sell your Yuba City, California restaurant

Considering opening a different Yuba City, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Yuba City, California restaurant can be a lot more challenging than you may think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the time you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to help you in selling your Yuba City, California restaurant or do the task on your own. Whether considering selling your Yuba City, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather the Business Documentation

This is an important initial step to make when you commence the process of offering your Yuba City, California restaurant.

The required documents may vary from state to state--even in California, but the following is a list of a few generalized documents you may be requierd to have at hand:

• A list of your assets
• Lease document
• 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 sale of your Yuba City, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to show all these documents to a potrntial buyer right away. However, you may want to have them ready because you will eventually need them during the sales process.

In addition, putting together these documents lets you view your Yuba City, California restaurant through the lens of a buyer. This provides you a clear picture of the Yuba City, California restaurant you're selling. Furthermore, it helps you show if there are any concerns you'll have to address.

#2 Put Your Financial Records in Order

Your financial documents are a crucial detail of selling your Yuba City, California restaurant. That’s the reason you should make an effort to make these documents accurate and organized.

Showing your financial documents to potential buyers could aid clear any doubt they might have regarding your Yuba City, California restaurant.

Your financial documents could include:

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

Also, make sure you have duplicate copies of all of these documents. This may make it easier for you to send the records to prospective buyers.

Also, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items can create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Details of Your Commercial Lease

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

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financials, whether favorable or not, this will help them evaluate the value of your Yuba City, California restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build up your cash flow before trying to sell your Yuba City, California restaurant.

The estimated time it takes to sell a Yuba City, California restaurant is six months. Within the six months, there are several things you can do to strengthen your profit and reduce various costs, and thus increase the worth of your Yuba City, California restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may help you in deriving the overall worth of your Yuba City, California restaurant. If you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Yuba City, California restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall appearance of your Yuba City, California restaurant does not appeal to buyers, they could take a pass without a second look.

To prevent this from happening, all things in and out of your Yuba City, California restaurant must be cleaned and maintained. Manicured and a clean parking lot may help create curb appeal for potential buyers.

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

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working properly, it can convey the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial status and production abilities. It can even dampen the excitment 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 regarding buying your Yuba City, California restaurant.

#7 Search for Yuba City Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Yuba City, California restaurant broker to help. The professional Yuba City, California restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you make the decision to handle this project by yourself, you will need to carry out proper advertising. You can list your Yuba City, California restaurant on business websites and let your family and friends know about your plans to market for sale your Yuba City, California restaurant.

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

#8 Be Prepared

If you decide to sell your Yuba City, California restaurant yourself, or with a a Yuba City, California restaurant broker, you need to always be ready. Be prepared to show your Yuba City, California restaurant to prospective buyers at all times.

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

#9 Sell Your Yuba City, California Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the transaction. The paperwork often start with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Yuba City, California Restaurant Broker

Although attempting to sell your Yuba City, California restaurant on your own can be an exciting project, it can also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business transaction, you need a higher level of experience in order to stand above and against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Yuba City, California restaurant broker comes in. A Yuba City, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Yuba City, California restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Yuba City, California Restaurant Broker

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

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

Yuba City Zip Codes We Support: 95991, 95992, 95993