Are You Ready to Sell Your Gates, New York Restaurant?

After years of labor, you have decided to sell your Gates, New York restaurant

Contemplating starting a different Gates, New York restaurant, moving, or even retiring. No matter the reason, selling your Gates, New York restaurant can be way more difficult than you may realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the time you’ve put into it.

Important Actions to Consider in Selling Your Restaurant

You can either make the decision to contract with a eatery broker to assist you in selling your Gates, New York restaurant or take on the task yourself. If you are considering selling your Gates, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Important Paperwork

This is an important preparatory step to take when you start the process of offering your Gates, New York restaurant.

The necessary documents may vary from state to state--even in New York, but the following is a list of some general documents you may need to have at hand:

• 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 has the experience to help you in the market for sale of your Gates, New York restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show all these documents to a potrntial buyer right away. However, you may want to have them at hand because you will certainly require them during the sales process.

In addition, compiling these documents allows you to see your Gates, New York restaurant through the lens of a buyer. This gives you a clear image of the Gates, New York restaurant you are selling. Furthermore, it allows you to show if there are any areas you'll need to address.

#2 Put Your Financials in Order

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

Showing your financial records to potential buyers may help clear any hesitations they may have concerning your Gates, New York restaurant.

Your financial records may include:

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

Also, ensure you have duplicate copies of all of the records. This can make it easier for you to transmit the information to potential buyers.

Also, as the seller, you have to disclose information such as 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 liabilities after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Gates, New York restaurant, you must find out the terms of your commercial lease. It could be devestating 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 regarding your plan to sell your Gates, New York restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this helps with estimating the value of the Gates, 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 planning to sell your Gates, New York restaurant.

The average time it takes to sell a Gates, New York restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and cut several costs, and therefore strengthen the worth of your Gates, New York restaurant.

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

This will help you in estimating the probable worth of your Gates, New York restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Gates, New York restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Gates, New York restaurant does not appeal to buyers, they might pass over immediately.

To prevent this from happening, everything in and out of your Gates, New York restaurant must be clean. Manicured and a clean parking area can help create curb appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are other simple items that could help create a memorable first impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not working, it might send 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 output capabilities. It may even dampen the morale 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 potential buyers regarding buying your Gates, New York restaurant.

#7 Search for Gates Buyers

Looking for prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional Gates, New York restaurant broker to help. The professional Gates, New York restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to take on this task yourself, you will need to carry out appropriate advertising. You can show your Gates, New York restaurant on business websites and tell family and friends about your plans to market for sale your Gates, New York restaurant.

As you will likely run across competition when trying to sell your Gates, New York restaurant, you need your restaurant to stand out.

#8 Be Ready

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

You will never know when a buyer will walk into your Gates, New York restaurant. Some buyers may even come in as customers just to carry out some research before contacting you.

#9 Sell Your Gates, New York Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The documentation often begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

This document includes details including the selling price of your Gates, New York restaurant, items and equipment and inventory value.

Choosing a Gates, New York Restaurant Broker

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

It's true, if you're looking to achieve the most out of the business deal, you need a higher level of experience to stand out against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Gates, New York restaurant broker comes in. A Gates, New York restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Gates, New York restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Gates, New York Restaurant Broker

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

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

Gates Zip Codes We Support: 14559, 14606, 14624