Ready to Sell Your Holtsville, New York Restaurant?

After years of sweat equity, you have decided to sell your Holtsville, New York restaurant

Considering starting a new Holtsville, New York restaurant, relocating, or even slowing down. No matter the reason, selling your Holtsville, New York restaurant can be way more challenging than you might think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the sweat you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

You may either make the decision to contract with a Holtsville, New York restaurant broker to assist you in selling your Holtsville, New York restaurant or do the task yourself. If you are considering selling your Holtsville, 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 a necessary first step to make when you start the process of selling your Holtsville, 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 ready:

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

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

You probably do not want to reveal the majority of these documents to a possible buyer day one. But, you should have them at hand because you will certainly need them during the sales process.

Also, putting together these documents lets you view your Holtsville, New York restaurant through the lens of a buyer. This provides you a clear image of the Holtsville, New York restaurant you're selling. In addition, it helps you show whether there are any areas you'll need to address.

#2 Get Your Financial Records in Order

Your financial records are an important detail of selling your Holtsville, New York restaurant. This is why you should make it a priority to make your documents accurate and well organized.

Showing your financial documents to potential buyers could help clear any doubt they may have regarding your Holtsville, New York restaurant.

The 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 could make it easier for you to send the information to possible buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later discovers these ommissions after sealing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Holtsville, New York restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Holtsville, New York restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this helps them evaluate the value of the Holtsville, 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 your cash flow planning to sell your Holtsville, New York restaurant.

The average time it takes to sell a Holtsville, New York restaurant is six months. Within the six months, there are several things you can do to increase your profit and slash various costs, and therefore increase the value of your Holtsville, 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 estimate your assets.

This may help you in estimating the overall worth of your Holtsville, New York restaurant. When you understand the overall value this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Holtsville, New York restaurant can go a long way in helping you bring potential buyers. Conversely, if the overall aesthetic of your Holtsville, New York restaurant does not look good to buyers, they could pass over immediately.

To avoid this from happening, all things in and out of your Holtsville, New York restaurant must be cleaned and maintained. Landscaping and a clean parking lot can help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are other easy things that can help create a great initial impression.

Furthermore, you should make sure all your equipment is in top condition. If your equipment is not working properly, it can send the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial situation and production capabilities. It could even lower the mood of your staff, which 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 regarding buying your Holtsville, New York restaurant.

#7 look for Holtsville Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Holtsville, New York restaurant broker to help. A professional Holtsville, New York restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this task by yourself, you will need to carry out proper advertising. You can offer your Holtsville, New York restaurant on listing websites and tell family and friends about your intentions to sell your Holtsville, New York restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Holtsville, New York Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to complete the contract. The paperwork will usually start with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Holtsville, New York Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business deal, you need some level of experience in order to stand above and against your competition while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Holtsville, New York restaurant broker is needed. A Holtsville, New York restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Holtsville, 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 Holtsville, New York restaurant broker, you can focus your undivided attention on operating your Holtsville, New York restaurant and rest easy with the knowledge that a professional is in charge of selling your Holtsville, New York restaurant.

Contact a Holtsville, New York Restaurant Broker

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

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

Holtsville Zip Codes We Support: 00501, 00544, 11738, 11741, 11742, 11763, 11772, 11779