Decided to Sell Your Baldwin, New York Restaurant?

After years of hard work, you have made the decision sell your Baldwin, New York restaurant

Contemplating opening a new Baldwin, New York restaurant, relocating, or even retiring. Regardless of the reason, selling a Baldwin, New York restaurant can be a lot more challenging than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the time you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either think to contract with a Baldwin, New York restaurant broker to assist you in selling your Baldwin, New York restaurant or take on the task on your own. Whether considering selling your Baldwin, New York restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Documentation

This is a necessary first step to make when you start the process of offering your Baldwin, New York restaurant.

The necessary documents may vary from state to state--even in New York, but below is a list of some standard documents you may need to have prepared:

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

Corbett Restaurant Group comes with expertise to help you in the sale of your Baldwin, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to reveal all these documents to a prospective buyer day one. However, you may want to have them at hand because you will eventually need them during the sales process.

In addition, putting together these documents allows you to see your Baldwin, New York restaurant through the lens of a buyer. It provides you a clear image of the Baldwin, New York restaurant you are selling. Furthermore, it allows you to show whether there are any concerns you will have to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial part of selling your Baldwin, New York restaurant. That’s the reason you should make it a priority to make these documents complete and well organized.

Showing your financial records to possible buyers may help clear any doubt they might have regarding your Baldwin, New York restaurant.

The financial documents can include:

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

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

Likewise, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things can create legal problems for you if a buyer later discovers these liabilities post signing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Baldwin, New York restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Baldwin, New York restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this helps them evaluate the true value of the Baldwin, New York restaurant.

This will be in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow starting to sell your Baldwin, New York restaurant.

The average time it may take to sell a Baldwin, New York restaurant is 6 months. Within the six months, there is a lot you can do in order to strengthen your profit and slash several costs, and thus strengthen the worth of your Baldwin, New York restaurant.

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

This could assist you in coming up with the probable value of your Baldwin, New York restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Baldwin, New York restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Baldwin, New York restaurant does not look good to buyers, they might pass over without a second look.

To avoid this from happening, everything in and out of your Baldwin, New York restaurant must be cleaned and maintained. Landscaping and a clean parking lot can help create appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are also small things that would help create a unforgettable first impression.

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

Faulty equipment may rouse doubt about your financial status and output abilities. It can even dampen the morale of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning purchasing your Baldwin, New York restaurant.

#7 Search for Baldwin Buyers

Looking for potential buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire an experienced Baldwin, New York restaurant broker to help. A professional Baldwin, New York restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you make the decision to take on this task yourself, you will need to carry out proper advertising. You can list your Baldwin, New York restaurant on listing websites and tell family and friends about your plans to sell your Baldwin, New York restaurant.

As you will likely come across competition when trying to sell your Baldwin, New York restaurant, you need your restaurant to stand out.

#8 Be Ready

Regardless if you decide to sell your Baldwin, New York restaurant yourself, or through a Baldwin, New York restaurant broker, you need to always be ready. Be ready to show your Baldwin, New York restaurant to potential buyers at all times.

You will never know when a buyer will visit your Baldwin, New York restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Baldwin, New York Restaurant

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

You should have your attorney’s help in drafting this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the transaction.

This agreement includes details including the selling price of your Baldwin, New York restaurant, items and equipment and inventory value.

Choosing a Baldwin, New York Restaurant Broker

While trying to sell your Baldwin, New York restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first-timers.

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

Expertise is also vital during negotiations with potential buyers. This is where an experienced Baldwin, New York restaurant broker is needed. A Baldwin, New York restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Baldwin, New York restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

With the help of a Baldwin, New York restaurant broker, you can focus your undivided attention on operating your Baldwin, New York restaurant and rest easy knowing that a professional is in charge of selling your Baldwin, New York restaurant.

Contact a Baldwin, New York Restaurant Broker

Deciding to sell your Baldwin, New York restaurant through a Baldwin, New York restaurant broker has several advantages. First, however, you need to select the best Baldwin, New York restaurant broker to help you in selling your Baldwin, New York restaurant.

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

Baldwin Zip Codes We Support: 11510, 11575