Ready to Sell Your Clay, New York Restaurant?

After years of sweat equity, you have made the decision sell your Clay, New York restaurant

Contemplating starting a new eatery, moving, or maybe retiring. No matter the reason, selling a Clay, New York restaurant can be a lot more difficult than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough money for all the time you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You can either make the decision to hire a Clay, New York restaurant broker to guide you in selling your Clay, New York restaurant or do the task on your own. If you are considering selling your Clay, New York restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather all Necessary Paperwork

This is an important initial step to take when you start the process of selling your Clay, 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 standard documents you may find helpful to have on you:

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

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It's probably smart not to reveal the majority of these documents to a potrntial buyer right away. But, you may want to have them ready because you will certainly require them during the sales process.

In addition, compiling these documents lets you view your Clay, New York restaurant through the lens of a buyer. It provides you a clear image of the Clay, New York restaurant you're offering for sale. In addition, it helps you identify whether there are any areas you'll have to address.

#2 Put Your Financial Documents in Order

Your financial records are a crucial detail of selling your Clay, New York restaurant. That’s why you should make an effort to have your documents complete and organized.

Showing your financial documents to possible buyers could assist to clear any hesitations they may have regarding your Clay, New York restaurant.

Your financial documents can include:

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

Also, make sure you have soft copies of all of these documents. This will make it easier for you to send the documentation to potential 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 issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Clay, New York restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this will help them estimate the value of your Clay, New York restaurant.

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

The average time it may take to sell a Clay, New York restaurant is six months. Within those six months, there are several things you can do to increase your profit and cut various costs, and therefore strengthen the worth of your Clay, 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 help you in estimating the overall worth of your Clay, New York restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Clay, New York restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Clay, New York restaurant does not appeal to buyers, they likely pass over immediately.

To avoid this from happening, all things in and out of your Clay, 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 clean floor are also easy items that could help create a unforgettable initial impression.

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

Faulty equipment may rouse doubt about your financial capabilities and output abilities. It may even lower the mood of your employees, and 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 concerning buying your Clay, New York restaurant.

#7 look for Clay Buyers

Searching for prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Clay, New York restaurant broker to help. The professional Clay, New York restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this project by yourself, you will need to carry out appropriate advertising. You can market your Clay, New York restaurant on business websites and tell family and friends about your intentions to market for sale your Clay, New York restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Clay, New York Restaurant

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

You may need your attorney’s help in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Clay, New York Restaurant Broker

While attempting to sell your Clay, New York restaurant on your own can be an exciting project, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to get the most out of the business transaction, you need a higher level of experience to stand above and against the competition while attempting to find buyers.

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

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

Contact a Clay, New York Restaurant Broker

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

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

Clay Zip Codes We Support: 13027, 13029, 13041, 13088, 13090, 13212