Decided to Sell Your Huntington Station, New York Restaurant?

Following years of sweat equity, you have decided to sell your Huntington Station, New York restaurant

Contemplating starting a new eatery, moving, or maybe slowing down. No matter the reason, selling a Huntington Station, New York restaurant can be way more difficult than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you’ve put into it.

Necessary Steps to Take when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Huntington Station, New York restaurant or take on the task yourself. If you are considering selling your Huntington Station, New York restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Business Paperwork

This is an important first step to make when you start the process of offering your Huntington Station, New York restaurant.

The required documents may vary from state to state--even in New York, but the following is a list of a few generalized documents you may be requierd to have ready:

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

Corbett Restaurant Group comes with expertise to help you in the market for sale of your Huntington Station, New York restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal all these documents to a possible buyer day one. However, you may want to have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents lets you view your Huntington Station, New York restaurant through the lens of a buyer. It provides you a clear image of the Huntington Station, New York restaurant you're selling. In addition, it helps you identify if there are any loopholes you'll have to address.

#2 Get Your Financial Documents in Order

Your financial records are an important part of selling your Huntington Station, New York restaurant. This is the reason you should make it a priority to make these documents complete and organized.

Showing your financial records to prospective buyers may assist to clear any doubt they might have concerning your Huntington Station, 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 duplicate copies of all of these records. This can make it easier for you to send the documentation to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal issues for you if a buyer later on discovers these liabilities after closing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Huntington Station, 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 sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the value of your Huntington Station, 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 increase your cash flow starting to sell your Huntington Station, New York restaurant.

The estimated time it may take to sell a Huntington Station, New York restaurant is 6 months. Within the six months, there is a lot you can do in order to strengthen your profit and slash various costs, and thus strengthen the value of your Huntington Station, New York restaurant.

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

This may assist you in deriving the overall value of your Huntington Station, New York restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Huntington Station, New York restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Huntington Station, New York restaurant does not appeal to buyers, they might take a pass without a second look.

To avoid this from happening, everything in and out of your Huntington Station, New York restaurant must be cleaned and maintained. Landscaped and a clean parking area may help create curb appeal for potential buyers.

Clean windows, polished handles and a clean floor are also easy things that can help create a great initial impression.

Furthermore, you should ensure that all the equipment is in top condition. If your equipment is not functioning, it might convey the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial capabilities and output abilities. It could even dampen the morale of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Huntington Station Buyers

Marketing to prospective buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Huntington Station, New York restaurant broker to help. A professional Huntington Station, New York restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you decide to handle this task alone, you will need to carry out proper advertising. You can offer your Huntington Station, New York restaurant on listing websites and let your family and friends know about your intentions to sell your Huntington Station, New York restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Huntington Station, New York Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the deal. The documentation will usually begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating 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 Huntington Station, New York restaurant, assets and equipment and inventory value.

Choosing a Huntington Station, New York Restaurant Broker

Although trying to sell your Huntington Station, New York restaurant on your own can be an exciting endeavor, it can 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 in order to stand above and against your competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Huntington Station, New York restaurant broker is recommended. A Huntington Station, New York restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Huntington Station, New York restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Huntington Station, New York Restaurant Broker

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

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

Huntington Station Zip Codes We Support: 11743, 11746