Decided to Sell Your Henrietta, New York Restaurant?

Following years of hard work, you have decided to sell your Henrietta, New York restaurant

Considering opening a new eatery, relocating, or maybe slowing down. No matter the reason, selling your Henrietta, 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 get out with enough profit for all the sweat you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You can either decide to contract with a eatery broker to help you in selling your Henrietta, New York restaurant or do the task yourself. Whether considering selling your Henrietta, 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 Documentation

This is an important first step to make when you commence the process of selling your Henrietta, New York restaurant.

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

• A list of 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 has the experience to assist you in the sale of your Henrietta, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer right away. However, you should have them at hand because you will eventually need them during the sales process.

In addition, putting together these documents lets you view your Henrietta, New York restaurant through the lens of a buyer. It gives you a clear image of the Henrietta, New York restaurant you're selling. Furthermore, it helps you identify whether there are any concerns you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important aspect of selling your Henrietta, New York restaurant. That’s the reason you should make it a priority to make your documents complete and organized.

Showing your financial documents to prospective buyers could assist to clear any doubt they might have concerning your Henrietta, New York restaurant.

The financial records could 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 the records. This will make it easier for you to send the records to prospective buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these items may create legal problems for you if a buyer later discovers these liabilities post signing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Henrietta, New York restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Henrietta, New York restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the true value of the Henrietta, New York restaurant.

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

The estimated time it takes to sell a Henrietta, New York restaurant is 6 months. Within those six months, there are many things you can do in order to increase your profit and reduce various costs, and thus strengthen the value of your Henrietta, New York restaurant.

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

This could aid you in deriving the probable worth of your Henrietta, New York restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Henrietta, New York restaurant could go a great distance in helping you bring potential buyers. Conversely, if the general curb appeal of your Henrietta, New York restaurant does not look good to buyers, they likely take a pass immediately.

To avoid this from happening, everything in and out of your Henrietta, New York restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other small items that can help create a unforgettable initial impression.

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

Non-functional equipment may rouse doubt about your financial situation and production abilities. It may even dampen the mood 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 prospective buyers concerning purchasing your Henrietta, New York restaurant.

#7 look for Henrietta Buyers

Looking for prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Henrietta, New York restaurant broker to help. A professional Henrietta, New York restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this project by yourself, you will need to create appropriate advertising. You can show your Henrietta, New York restaurant on listing websites and let your family and friends know about your plans to sell your Henrietta, New York restaurant.

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

#8 Be Prepared

If you decide to sell your Henrietta, New York restaurant yourself, or with a a Henrietta, New York restaurant broker, you need to always be ready. Be ready to show your Henrietta, New York restaurant to prospective buyers at all times.

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

#9 Sell Your Henrietta, New York Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the contract. The paperwork will likely start 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 agreement includes details including the selling price of your Henrietta, New York restaurant, items and equipment as well as inventory value.

Choosing a Henrietta, New York Restaurant Broker

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

The fact remains, if you're looking to achieve the most out of the business deal, you need some level of expertise in order to stand out against the cometitors while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Henrietta, New York restaurant broker comes in. A Henrietta, New York restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Henrietta, New York restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Henrietta, New York Restaurant Broker

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

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

Henrietta Zip Codes We Support: 14467, 14534, 14543, 14586, 14618, 14623