Decided to Sell Your East Fishkill, New York Restaurant?

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

Considering opening a new East Fishkill, New York restaurant, moving, or maybe retiring. Regardless of the reason, selling a East Fishkill, New York restaurant can be a lot more difficult than you might think. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the time you’ve put into it.

Important Steps to Take in Selling Your Restaurant

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

#1 Gather all Necessary Documentation

This is an important initial step to take when you begin the process of marketing your East Fishkill, New York restaurant.

The required paperwork may vary from state to state--even in New York, but the following is a list of some general documents you may find helpful to have prepared:

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

Corbett Restaurant Group has the experience to help you in the market for sale of your East Fishkill, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a potrntial buyer right away. However, you may want to have them ready because you will eventually need them during the sales process.

Also, compiling these documents lets you view your East Fishkill, New York restaurant through the lens of a buyer. It gives you a clear image of the East Fishkill, New York restaurant you are selling. In addition, it helps you show if there are any concerns you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your East Fishkill, New York restaurant. That’s the reason you should strive to have your documents accurate and well organized.

Offering your financial records to prospective buyers could assist to clear any doubt they might have concerning your East Fishkill, New York restaurant.

Your financial records could include:

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

In addition, ensure you have duplicate copies of all of these records. This can make it easier for you to send the documentation to possible buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your East Fishkill, New York restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your East Fishkill, New York restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the value of your East Fishkill, New York restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your East Fishkill, New York restaurant.

The average time it may take to sell a East Fishkill, New York restaurant is 6 months. Within the six months, there is a lot you can do in order to increase your profit and cut various costs, and thus increase the value of your East Fishkill, New York restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will aid you in estimating the probable worth of your East Fishkill, New York restaurant. When you understand the overall value this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your East Fishkill, New York restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your East Fishkill, New York restaurant does not appeal to buyers, they might pass over right off the bat.

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

Clean windows, polished door handles and a presentable floor are also simple things that could help create a great first impression.

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

Non-functional equipment may rouse doubt about your financial situation and production abilities. It could even lower 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 regarding buying your East Fishkill, New York restaurant.

#7 look for East Fishkill Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced East Fishkill, New York restaurant broker to help. The professional East Fishkill, New York restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this project alone, you will need to create appropriate advertising. You can show your East Fishkill, New York restaurant on business websites and let your family and friends know about your plans to sell your East Fishkill, New York restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your East Fishkill, 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 transaction. The paperwork will usually start with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your East Fishkill, New York restaurant, assets and equipment as well as inventory value.

Choosing a East Fishkill, New York Restaurant Broker

While attempting to sell your East Fishkill, New York restaurant on your own can be an exhilarating project, it could 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 a higher level of experience to stand out against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced East Fishkill, New York restaurant broker is recommended. A East Fishkill, New York restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your East Fishkill, New York restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a East Fishkill, New York Restaurant Broker

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

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

East Fishkill Zip Codes We Support: 12524, 12531, 12533, 12582, 12590