Decided to Sell Your Brighton, New York Restaurant?

Following years of sweat equity, you have made the decision sell your Brighton, New York restaurant

Contemplating starting a different Brighton, New York restaurant, moving, or maybe slowing down. No matter the reason, selling a Brighton, New York restaurant can be a lot more complicated than you might realize. This is because it takes careful preparation and a solid strategy to successfully get out with enough money for all the time you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either decide to contract with a Brighton, New York restaurant broker to guide you in selling your Brighton, New York restaurant or do the task on your own. Whether considering selling your Brighton, New York restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together all Business Paperwork

This is a necessary initial step to make when you commence the process of marketing your Brighton, New York restaurant.

The required paperwork may vary from state to state--even in New York, but the following is a list of a few generalized documents you may need to have on you:

• Gather your assets
• Lease document
• 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 has the expertise to assist you in the market for sale of your Brighton, New York 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 prospective buyer right away. However, you should have them at hand because you will certainly need them during the sales process.

In addition, putting together these documents lets you view your Brighton, New York restaurant through the lens of a buyer. It provides you a clear image of the Brighton, New York restaurant you're selling. Furthermore, it allows you to identify whether there are any areas you will have to take care of.

#2 Put Your Financial Records in Order

Your financial documents are an important detail of selling your Brighton, New York restaurant. That’s the reason you should make it a priority to have your documents accurate and organized.

Offering your financial records to possible buyers may aid clear any doubt they might have regarding your Brighton, New York restaurant.

These financial records 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 will make it easier for you to transmit the records to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later on discovers these liabilities after signing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Brighton, New York restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Brighton, New York restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of the Brighton, New York restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your Brighton, New York restaurant.

The estimated time it may take to sell a Brighton, New York restaurant is six months. Within those six months, there is a lot you can do to strengthen your profit and cut several costs, and thus strengthen the worth of your Brighton, New York restaurant.

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

This may assist you in deriving the probable worth of your Brighton, New York restaurant. When you understand the overall worth this could help you settle on a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Brighton, New York restaurant could go a great distance in helping you bring potential buyers. Conversely, if the overall aesthetic of your Brighton, New York restaurant does not appeal to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your Brighton, New York restaurant must be cleaned and maintained. Manicured and a clean parking area could help create appeal for potential buyers.

Clean windows, polished door handles and a presentable floor are other small items that can help create a unforgettable initial impression.

Additionally, you should ensure all the equipment is in satisfactory condition. If your equipment is not functioning, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and production capabilities. It can even lower the mood of your staff, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Brighton, New York restaurant.

#7 look for Brighton Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Brighton, New York restaurant broker to help. A professional Brighton, New York restaurant broker will offer recommendations for saving time & money for drawing in more potential buyers. However, if you decide to take on this project yourself, you will need to create proper advertising. You can market your Brighton, New York restaurant on listing websites and let your family and friends know about your intentions to market for sale your Brighton, New York restaurant.

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

#8 Be Prepared

If you decide to sell your Brighton, New York restaurant yourself, or with a a Brighton, New York restaurant broker, you need to always be ready. Be ready to show your Brighton, New York restaurant to potential buyers at all times.

You'll never know when a buyer will walk into your Brighton, New York restaurant. Some buyers might even come in as customers just to perform some research before contacting you.

#9 Sell Your Brighton, New York Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the deal. The documentation will usually start with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the contract.

This document includes details such as the selling price of your Brighton, New York restaurant, assets and equipment and inventory value.

Choosing a Brighton, New York Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business transaction, you need a higher level of expertise to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Brighton, New York restaurant broker comes in. A Brighton, New York restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Brighton, New York restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Brighton, New York Restaurant Broker

Choosing to sell your Brighton, New York restaurant through a Brighton, New York restaurant broker has several advantages. First, however, you need to select the best Brighton, New York restaurant broker to assist you in selling your Brighton, New York restaurant.

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

Brighton Zip Codes We Support: 14610, 14618, 14620, 14623, 14625