Time to Sell Your Fort Hamilton, New York Restaurant?

Following years of labor, you have decided to sell your Fort Hamilton, New York restaurant

Contemplating starting a new Fort Hamilton, New York restaurant, relocating, or maybe slowing down. No matter the reason, selling a Fort Hamilton, New York restaurant can be way more difficult than you may realize. 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 Actions to Consider when Selling Your Restaurant

You may either make the decision to hire a Fort Hamilton, New York restaurant broker to assist you in selling your Fort Hamilton, New York restaurant or take on the task yourself. If you are considering selling your Fort Hamilton, New York restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather all Business Documentation

This is a necessary preparatory step to make when you begin the process of marketing your Fort Hamilton, New York restaurant.

The required paperwork may vary from state to state--even in New York, but below is a list of some standard documents you may find helpful to have on you:

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

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

It's probably best not to show the majority of these documents to a prospective buyer first day. But, you should have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents lets you see your Fort Hamilton, New York restaurant through the lens of a buyer. This gives you a clear picture of the Fort Hamilton, New York restaurant you're selling. In addition, it helps you identify whether there are any concerns you'll have to take care of.

#2 Put Your Financials in Order

Your financial records are an important part of selling your Fort Hamilton, New York restaurant. That’s the reason you should make an effort to have these documents accurate and well organized.

Showing your financial records to potential buyers could aid clear any hesitations they might have concerning your Fort Hamilton, New York restaurant.

These financial records can include:

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

Also, ensure you have hard copies of all of these documents. This could make it easier for you to transmit the records to possible buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these things can create legal problems for you if a buyer later on discovers these liabilities post completing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Fort Hamilton, New York restaurant, you need to review of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors could request an in-depth evaluation of your financial records, whether favorable or not, this helps them evaluate the true value of the Fort Hamilton, New York restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Fort Hamilton, New York restaurant.

The estimated time it may take to sell a Fort Hamilton, New York restaurant is six months. Within those six months, there are several things you can do in order to increase your profit and reduce several costs, and thus strengthen the value of your Fort Hamilton, New York restaurant.

In addition, 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 aid you in coming up with the overall worth of your Fort Hamilton, New York restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Fort Hamilton, New York restaurant can go a long way in helping you bring potential buyers. Conversely, if the general aesthetic of your Fort Hamilton, New York restaurant does not appeal to buyers, they might take a pass right off the bat.

To prevent this from happening, everything in and out of your Fort Hamilton, New York restaurant must be cleaned and maintained. Landscaped and a clean parking lot can help create curb appeal for potential buyers.

Clean windows, polished door handles and a neat floor are also easy items that could help create a great initial impression.

Furthermore, you should make sure that all the equipment is in satisfactory condition. If your equipment is not functioning, it might convey the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and output abilities. It could even lower the morale of your staff, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers concerning buying your Fort Hamilton, New York restaurant.

#7 Search for Fort Hamilton Buyers

Looking for potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Fort Hamilton, New York restaurant broker to help. The professional Fort Hamilton, New York restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this task alone, you will need to carry out proper advertising. You can list your Fort Hamilton, New York restaurant on listing websites and tell family and friends about your intentions to sell your Fort Hamilton, New York restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could visit your Fort Hamilton, New York restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Fort Hamilton, New York Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The paperwork will usually begin 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 aspect of the deal.

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

Choosing a Fort Hamilton, New York Restaurant Broker

While attempting to sell your Fort Hamilton, New York restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first-timers.

The fact remains, in order for you to achieve the most from of the business deal, you need a higher level of experience in order to stand above and against your cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Fort Hamilton, New York restaurant broker comes in. A Fort Hamilton, New York restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Fort Hamilton, New York restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Fort Hamilton, New York Restaurant Broker

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

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

Fort Hamilton Zip Codes We Support: 11252