Decided to Sell Your Lindenhurst, New York Restaurant?

Following years of labor, you have decided to sell your Lindenhurst, New York restaurant

Considering starting a new Lindenhurst, New York restaurant, moving, or maybe retiring. No matter the reason, selling your Lindenhurst, New York restaurant can be way more complicated than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough profit for all the time you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You can either decide to hire a Lindenhurst, New York restaurant broker to assist you in selling your Lindenhurst, New York restaurant or do the task on your own. Whether considering selling your Lindenhurst, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together all Business Paperwork

This is a necessary initial step to take when you commence the process of offering your Lindenhurst, New York restaurant.

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

• A list of your assets
• Lease document
• 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 Lindenhurst, New York restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a prospective buyer first day. But, you should have them on hand because you will certainly require them during the sales process.

Also, putting together these documents lets you see your Lindenhurst, New York restaurant through the lens of a buyer. This provides you a clear image of the Lindenhurst, New York restaurant you're offering for sale. Furthermore, it allows you to show if there are any areas you will need to take care of.

#2 Put Your Financial Records in Order

Your financial documents are a crucial part of selling your Lindenhurst, New York restaurant. This is the reason you should make an effort to have your documents complete and well organized.

Showing your financial records to possible buyers may assist to clear any hesitations they may have regarding your Lindenhurst, New York restaurant.

These financial records can include:

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

Also, ensure you have soft copies of all of these documents. This will make it easier for you to transmit the records to potential buyers.

Also, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items can create legal problems for you if a buyer later on discovers these ommissions post signing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Lindenhurst, New York restaurant, you need to review of your commercial lease. It could be disappointing 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 concerning your plan to sell your Lindenhurst, New York restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the true value of your Lindenhurst, New York restaurant.

This will be in your best interest to make sure that you increase sales and make a reduction in your expenses to build up your cash flow planning to sell your Lindenhurst, New York restaurant.

The estimated time it takes to sell a Lindenhurst, New York restaurant is 6 months. Within the six months, there are several things you can do to strengthen your profit and slash several costs, and thus increase the worth of your Lindenhurst, New York restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in estimating the probable value of your Lindenhurst, New York restaurant. When you understand the overall worth this could help you come up with a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Lindenhurst, New York restaurant can go a great distance in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Lindenhurst, New York restaurant does not appeal to buyers, they could pass over right off the bat.

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

Clean windows, polished handles and a presentable floor are other small items that could help create a memorable first impression.

Furthermore, you should make sure that all the equipment is in top condition. If your equipment is not working, it might send 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 production capabilities. It could even dampen the mood of your employees, 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 concerning purchasing your Lindenhurst, New York restaurant.

#7 look for Lindenhurst Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire an experienced Lindenhurst, New York restaurant broker to help. A professional Lindenhurst, New York restaurant broker will offer recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this task by yourself, you will need to create proper advertising. You can list your Lindenhurst, New York restaurant on listing websites and tell family and friends about your intentions to market for sale your Lindenhurst, New York restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Lindenhurst, New York Restaurant

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

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

This document includes details such as the selling price of your Lindenhurst, New York restaurant, assets and equipment as well as inventory value.

Choosing a Lindenhurst, New York Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business deal, you need a higher level of expertise to stand above and against the cometitors while trying to attract buyers.

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

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

Contact a Lindenhurst, New York Restaurant Broker

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

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

Lindenhurst Zip Codes We Support: 11757