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

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

Considering opening a new eatery, relocating, or maybe retiring. Regardless of the reason, selling a Halfmoon, New York restaurant can be way more difficult than you might think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Important Steps to Take when Selling Your Restaurant

You can either think to contract with a eatery broker to assist you in selling your Halfmoon, New York restaurant or take on the task yourself. If you are considering selling your Halfmoon, New York restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather any Important Paperwork

This is a necessary preparatory step to take when you start the process of offering your Halfmoon, New York restaurant.

The required documents may vary from state to state--even in New York, but below is a list of a few standard documents you may need to have ready:

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

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

You probably do not want to show the majority of these documents to a potrntial buyer first day. But, you should have them on hand because you will certainly need them during the sales process.

Also, compiling these documents lets you see your Halfmoon, New York restaurant through the lens of a buyer. It gives you a clear image of the Halfmoon, New York restaurant you're selling. In addition, it allows you to identify whether there are any areas you'll need to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important aspect of selling your Halfmoon, New York restaurant. This is why you should strive to have these documents complete and well organized.

Showing your financial documents to prospective buyers could assist to clear any doubt they might have concerning your Halfmoon, 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 soft copies of all of these documents. This will make it easier for you to send the records to possible buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later on discovers these liabilities after sealing the deal.

#3 Organize the Details of Your Commercial Lease

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

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Halfmoon, New York restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of the Halfmoon, New York restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to build your cash flow starting to sell your Halfmoon, New York restaurant.

The estimated time it takes to sell a Halfmoon, New York restaurant is six months. Within the six months, there is a lot you can do to increase your profit and reduce several costs, and thus increase the value of your Halfmoon, New York restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This could help you in coming up with the probable value of your Halfmoon, New York restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Halfmoon, New York restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall look of your Halfmoon, New York restaurant does not appeal to buyers, they might pass over without consideration.

To prevent this from happening, all things in and out of your Halfmoon, New York restaurant must be cleaned and maintained. Landscaping and a clean parking area may help create curb appeal for potential buyers.

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

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

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

You should look credible in order to build the confidence of potential buyers regarding purchasing your Halfmoon, New York restaurant.

#7 Search for Halfmoon Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Halfmoon, New York restaurant broker to help. A professional Halfmoon, New York restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to carry out proper advertising. You can list your Halfmoon, New York restaurant on listing websites and tell family and friends about your plans to sell your Halfmoon, New York restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Halfmoon, New York Restaurant

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

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Halfmoon, New York Restaurant Broker

Although trying to sell your Halfmoon, New York restaurant on your own can be an exciting project, it could also be quite risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business deal, you need some level of expertise in order to stand out against the cometitors while attempting to find buyers.

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

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

Contact a Halfmoon, New York Restaurant Broker

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

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

Halfmoon Zip Codes We Support: 12065, 12118, 12151, 12188