Ready to Sell Your Forest Hills, New York Restaurant?

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

Considering starting a new Forest Hills, New York restaurant, moving, or maybe retiring. Regardless of the reason, selling a Forest Hills, New York restaurant can be way more challenging than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your Forest Hills, New York restaurant or take on the task yourself. Whether considering selling your Forest Hills, New York restaurant on your own for the first time or with a restauarant broker, here are some steps you can expect.

#1 Gather all Necessary Documentation

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

The necessary paperwork may vary from state to state--even in New York, but below 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 documentation
• Architectural plan
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to assist you in the sale of your Forest Hills, 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 possible buyer day one. But, you should have them at hand because you will certainly need them during the sales process.

In addition, compiling these documents allows you to view your Forest Hills, New York restaurant through the lens of a buyer. This provides you a clear image of the Forest Hills, New York restaurant you're offering for sale. Furthermore, it helps you show whether there are any areas you will need to take care of.

#2 Get Your Financials in Order

Your financial records are an important aspect of selling your Forest Hills, New York restaurant. This is the reason you should make an effort to have your documents accurate and organized.

Showing your financial records to prospective buyers could assist to clear any doubt they may have regarding your Forest Hills, New York restaurant.

Your financial records may include:

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

In addition, ensure you have hard copies of all of these records. This can make it easier for you to transmit the information to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later discovers these ommissions after closing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Forest Hills, New York restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this will help them estimate the value of the Forest Hills, New York restaurant.

It is therefore in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow planning to sell your Forest Hills, New York restaurant.

The average time it may take to sell a Forest Hills, New York restaurant is 6 months. Within the six months, there are many things you can do to increase your profit and cut various costs, and therefore strengthen the value of your Forest Hills, New York restaurant.

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

This could assist you in estimating the probable worth of your Forest Hills, New York restaurant. When you understand the overall value this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Forest Hills, New York restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general curb appeal of your Forest Hills, New York restaurant does not look good to buyers, they likely pass over immediately.

To avoid this from happening, all things in and out of your Forest Hills, New York restaurant must be clean. Manicured and a clean parking area may help create curb appeal for potential buyers.

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

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

Non-functional equipment can raise doubt about your financial status and production abilities. It could even dampen the mood of your employees, which in turn, 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 Forest Hills, New York restaurant.

#7 look for Forest Hills Buyers

Marketing to prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Forest Hills, New York restaurant broker to help. The professional Forest Hills, New York restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this task by yourself, you will need to create proper advertising. You can offer your Forest Hills, New York restaurant on business websites and tell family and friends about your intentions to sell your Forest Hills, New York restaurant.

As you will likely come across competition when trying to sell your Forest Hills, New York restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Forest Hills, New York restaurant yourself, or through a Forest Hills, New York restaurant broker, you should always be ready. Be prepared to show your Forest Hills, New York restaurant to prospective buyers at all times.

You'll never know when a buyer will walk into your Forest Hills, New York restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Forest Hills, New York Restaurant

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

You should have your attorney’s help in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Forest Hills, New York Restaurant Broker

While attempting to sell your Forest Hills, New York restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first time sellers.

The fact remains, if you're looking to get the most from of the business deal, you need a higher level of expertise to stand above and against the competition while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Forest Hills, New York restaurant broker is needed. A Forest Hills, New York restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Forest Hills, New York restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Forest Hills, New York Restaurant Broker

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

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

Forest Hills Zip Codes We Support: 11375