Time to Sell Your Fresh Meadows, New York Restaurant?

Following years of hard work, you have made the decision sell your Fresh Meadows, New York restaurant

Considering opening a new eatery, moving, or maybe retiring. No matter the reason, selling a Fresh Meadows, New York restaurant can be way more complicated than you might realize. Thats 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.

Necessary Steps to Take in Selling Your Restaurant

You can either decide to hire a Fresh Meadows, New York restaurant broker to assist you in selling your Fresh Meadows, New York restaurant or take on the task on your own. If you are considering selling your Fresh Meadows, New York restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Put Together the Important Documentation

This is a necessary preparatory step to make when you begin the process of marketing your Fresh Meadows, 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 generalized documents you may find helpful to have at hand:

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

Corbett Restaurant Group has the experience to help you in the sale of your Fresh Meadows, New York restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer day one. However, you may want to have them ready because you will certainly need them during the sales process.

In addition, putting together these documents allows you to see your Fresh Meadows, New York restaurant through the lens of a buyer. It gives you a clear image of the Fresh Meadows, New York restaurant you are offering for sale. Furthermore, it allows you to show whether there are any areas you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important aspect of selling your Fresh Meadows, New York restaurant. This is why you should make an effort to have these documents accurate and organized.

Showing your financial records to possible buyers may help clear any hesitations they might have concerning your Fresh Meadows, New York restaurant.

These financial records can include:

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

In addition, make sure you have soft copies of all of the records. This can make it easier for you to transmit the records to possible buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these things could create legal problems for you if a buyer later on discovers these liabilities after closing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Fresh Meadows, New York restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing 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 Fresh Meadows, New York restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of the Fresh Meadows, New York restaurant.

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

The average time it may take to sell a Fresh Meadows, New York restaurant is 6 months. Within those six months, there are several things you can do in order to strengthen your profit and cut several costs, and thus strengthen the value of your Fresh Meadows, 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 will aid you in deriving the overall worth of your Fresh Meadows, New York restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Fresh Meadows, New York restaurant could go a long way in helping you attract potential buyers. Conversely, if the general curb appeal of your Fresh Meadows, New York restaurant does not appeal to buyers, they likely pass over without consideration.

To avoid this from happening, all things in and out of your Fresh Meadows, New York restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are other simple things that can help create a great first impression.

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working, it may convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial situation and production capabilities. It may even dampen the mood of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Fresh Meadows, New York restaurant.

#7 Search for Fresh Meadows Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire a professional Fresh Meadows, New York restaurant broker to help. A professional Fresh Meadows, New York restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you make the decision to handle this project alone, you will need to carry out appropriate advertising. You can show your Fresh Meadows, New York restaurant on listing websites and tell family and friends about your intentions to sell your Fresh Meadows, New York restaurant.

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

#8 Be Ready

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

You never know when a buyer could visit your Fresh Meadows, New York restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your Fresh Meadows, New York Restaurant

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

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

This agreement includes details such as the selling price of your Fresh Meadows, New York restaurant, assets and equipment and inventory value.

Choosing a Fresh Meadows, New York Restaurant Broker

Although trying to sell your Fresh Meadows, New York restaurant on your own can be an exciting project, it could 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 expertise to stand out against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Fresh Meadows, New York restaurant broker comes in. A Fresh Meadows, New York restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Fresh Meadows, New York restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

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

Contact a Fresh Meadows, New York Restaurant Broker

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

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

Fresh Meadows Zip Codes We Support: 11365, 11366