Right Time to Sell Your Cicero, New York Restaurant?

Following years of hard work, you have decided to sell your Cicero, New York restaurant

Considering opening a different Cicero, New York restaurant, relocating, or maybe slowing down. No matter the reason, selling a Cicero, New York restaurant can be way more difficult than you might realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either decide to hire a Cicero, New York restaurant broker to help you in selling your Cicero, New York restaurant or take on the task on your own. Whether considering selling your Cicero, New York restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together any Important Paperwork

This is a necessary initial step to take when you begin the process of selling your Cicero, New York restaurant.

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

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

Corbett Restaurant Group has the expertise to help you in the market for sale of your Cicero, New York restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer day one. But, you may want to have them ready because you will certainly need them during the sales process.

In addition, putting together these documents allows you to view your Cicero, New York restaurant through the lens of a buyer. This gives you a clear picture of the Cicero, New York restaurant you're offering for sale. In addition, it allows you to show if there are any loopholes you will have to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial detail of selling your Cicero, New York restaurant. This is why you should strive to make these documents complete and organized.

Offering your financial records to potential buyers could assist to clear any hesitations they might have concerning your Cicero, New York restaurant.

These financial documents can 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 the records. This can make it easier for you to send the information to possible buyers.

Also, as a seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these items can create legal problems for you if a buyer later on discovers these ommissions post completing the deal.

#3 Gather the Details of Your Commercial Lease

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

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Cicero, New York restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the true value of the Cicero, New York restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to build your cash flow before trying to sell your Cicero, New York restaurant.

The average time it takes to sell a Cicero, New York restaurant is six months. Within the six months, there are several things you can do in order to strengthen your profit and slash various costs, and therefore strengthen the worth of your Cicero, New York restaurant.

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

This may aid you in coming up with the overall value of your Cicero, New York restaurant. If you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Cicero, New York restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall appearance of your Cicero, New York restaurant does not appeal to buyers, they might pass over without consideration.

To avoid this from happening, all things in and out of your Cicero, New York restaurant must be clean. Landscaped and a clean parking area can help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a neat floor are also small items that could help create a unforgettable initial impression.

Additionally, you should ensure that all the equipment is in top condition. If your equipment is not working properly, it may send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and production capabilities. It can even lower the morale of your employees, which in turn, 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 purchasing your Cicero, New York restaurant.

#7 look for Cicero Buyers

Searching for prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Cicero, New York restaurant broker to help. A professional Cicero, New York restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this task alone, you will need to carry out appropriate advertising. You can offer your Cicero, New York restaurant on business websites and tell family and friends about your plans to sell your Cicero, New York restaurant.

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

#8 Be Ready

Whether you decide to sell your Cicero, New York restaurant yourself, or with a a Cicero, New York restaurant broker, you should always be ready. Be prepared to show your Cicero, New York restaurant to potential buyers at all times.

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

#9 Sell Your Cicero, New York Restaurant

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

You may need your attorney’s expertise in creating this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Cicero, New York Restaurant Broker

While attempting to sell your Cicero, New York restaurant on your own can be an exciting project, it can also be quite 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 above and against the cometitors while attempting to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Cicero, New York restaurant broker comes in. A Cicero, New York restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Cicero, New York restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Cicero, New York Restaurant Broker

Choosing to sell your Cicero, New York restaurant through a Cicero, New York restaurant broker has many advantages. First, however, you need to select the best Cicero, New York restaurant broker to help you in selling your Cicero, New York restaurant.

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

Cicero Zip Codes We Support: 13029, 13030, 13039, 13041, 13057, 13082, 13212