Right Time to Sell Your Clifton Park, New York Restaurant?

After years of sweat equity, you have decided to sell your Clifton Park, New York restaurant

Contemplating starting a different Clifton Park, New York restaurant, moving, or maybe retiring. Regardless of the reason, selling your Clifton Park, New York restaurant can be a lot more difficult than you might realize. This is because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the labor you’ve put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either decide to contract with a Clifton Park, New York restaurant broker to assist you in selling your Clifton Park, New York restaurant or do the task on your own. Whether considering selling your Clifton Park, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Business Paperwork

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

The necessary 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 at hand:

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

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

You certainly do not want to reveal the majority of these documents to a possible buyer first day. However, you should have them at hand because you will certainly need them during the sales process.

Also, putting together these documents lets you view your Clifton Park, New York restaurant through the lens of a buyer. It gives you a clear image of the Clifton Park, New York restaurant you are offering for sale. In addition, it allows you to identify whether there are any loopholes you will need to take care of.

#2 Put Your Financial Records in Order

Your financial documents are an important aspect of selling your Clifton Park, New York restaurant. This is the reason you should strive to make your documents accurate and well organized.

Showing your financial records to potential buyers may assist to clear any hesitations they may have regarding your Clifton Park, New York restaurant.

These financial records may 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 can make it easier for you to send the information to potential buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these things can create legal issues for you if a buyer later on discovers these liabilities post signing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Clifton Park, New York restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Clifton Park, New York restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your Clifton Park, New York restaurant.

The estimated time it may take to sell a Clifton Park, New York restaurant is 6 months. Within those six months, there is a lot you can do to increase your profit and slash several costs, and thus strengthen the value of your Clifton Park, New York restaurant.

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

This may aid you in coming up with the probable value of your Clifton Park, New York restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Clifton Park, New York restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general appearance of your Clifton Park, New York restaurant does not look good to buyers, they might take a pass without a second look.

To prevent this from happening, all things in and out of your Clifton Park, New York restaurant must be cleaned and maintained. Landscaping and a clean parking lot could help create appeal for potential buyers.

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

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it may convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial status and output capabilities. It may even dampen the excitment 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 prospective buyers concerning buying your Clifton Park, New York restaurant.

#7 look for Clifton Park Buyers

Looking for potential buyers is time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire a professional Clifton Park, New York restaurant broker to help. A professional Clifton Park, New York restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this task yourself, you will need to carry out appropriate advertising. You can offer your Clifton Park, New York restaurant on business websites and tell family and friends about your plans to market for sale your Clifton Park, New York restaurant.

As you will probably come across competition when trying to sell your Clifton Park, New York restaurant, you need your restaurant to stand out.

#8 Be Ready

If you decide to sell your Clifton Park, New York restaurant yourself, or through a Clifton Park, New York restaurant broker, you need to always be prepared. Be prepared to show your Clifton Park, New York restaurant to prospective buyers at all times.

You will never know when a buyer could visit your Clifton Park, New York restaurant. Some buyers may even come in as customers just to perform some research before contacting you.

#9 Sell Your Clifton Park, New York Restaurant

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

You should have your attorney’s expertise in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Clifton Park, New York Restaurant Broker

While attempting to sell your Clifton Park, New York restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first-timers.

The fact remains, if you're looking to achieve the most out of the business transaction, you need a higher level of expertise to stand out against your cometitors while trying to attract buyers.

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

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

Contact a Clifton Park, New York Restaurant Broker

Deciding to sell your Clifton Park, New York restaurant through a Clifton Park, New York restaurant broker has many advantages. First, however, you need to select the best Clifton Park, New York restaurant broker to assist you in selling your Clifton Park, New York restaurant.

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

Clifton Park Zip Codes We Support: 12019, 12065, 12148, 12151