Decided to Sell Your Middletown, New York Restaurant?

After years of sweat equity, you have made the decision sell your Middletown, New York restaurant

Contemplating starting a different Middletown, New York restaurant, relocating, or maybe slowing down. No matter the reason, selling your Middletown, New York restaurant can be way more challenging than you may think. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough profit for all the sweat you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

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

#1 Put Together the Important Paperwork

This is an important preparatory step to make when you begin the process of marketing your Middletown, New York restaurant.

The required documents may vary from state to state--even in New York, but the following is a list of some standard documents you may be requierd to have at hand:

• A list of your assets
• Lease contract
• 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 assist you in the sale of your Middletown, New York restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

In addition, compiling these documents lets you view your Middletown, New York restaurant through the lens of a buyer. This gives you a clear image of the Middletown, New York restaurant you're selling. Furthermore, it allows you to identify whether there are any concerns you will have to address.

#2 Get Your Financial Documents in Order

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

Showing your financial records to possible buyers may help clear any doubt they might have concerning your Middletown, New York restaurant.

The financial records may include:

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

Also, make sure you have hard copies of all of these records. This can make it easier for you to transmit the records to potential buyers.

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

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Middletown, New York restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this will help them evaluate the value of the Middletown, New York restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build up your cash flow planning to sell your Middletown, New York restaurant.

The estimated time it may take to sell a Middletown, New York restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and slash various costs, and thus strengthen the value of your Middletown, 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 will help you in estimating the probable worth of your Middletown, New York restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Middletown, New York restaurant can go a long way in helping you bring potential buyers. Conversely, if the overall look of your Middletown, New York restaurant does not appeal to buyers, they could pass over right off the bat.

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

Spot-free windows, polished door handles and a neat floor are other simple items that could help create a unforgettable initial impression.

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

Non-functional equipment could raise doubt about your financial situation and production capabilities. It can even lower the mood of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

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

#7 look for Middletown Buyers

Searching for prospective buyers is time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Middletown, New York restaurant broker to help. The professional Middletown, New York restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you decide to take on this project alone, you will need to carry out appropriate advertising. You can list your Middletown, New York restaurant on listing websites and tell family and friends about your intentions to market for sale your Middletown, New York restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could walk into your Middletown, New York restaurant. Some buyers may even visit as customers in order to perform some research before reaching out to you.

#9 Sell Your Middletown, New York Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the deal. The paperwork often start with the Asset Purchase Agreement.

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

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

Choosing a Middletown, New York Restaurant Broker

Although attempting to sell your Middletown, New York restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

It's true, in order for you to get the most out of the business transaction, you need some level of expertise in order to stand out against the competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Middletown, New York restaurant broker comes in. A Middletown, New York restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Middletown, New York restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Middletown, New York Restaurant Broker

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

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

Middletown Zip Codes We Support: 10940, 10941, 10943