Ready to Sell Your New Windsor, New York Restaurant?

After years of hard work, you have made the decision sell your New Windsor, New York restaurant

Considering starting a new eatery, moving, or even slowing down. No matter the reason, selling a New Windsor, New York restaurant can be way more complicated than you might think. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the sweat you may have put into it.

Important Actions to Take when Selling Your Restaurant

You may either decide to contract with a eatery broker to help you in selling your New Windsor, New York restaurant or do the task on your own. If you are considering selling your New Windsor, New York restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Gather any Important Paperwork

This is an important first step to take when you begin the process of marketing your New Windsor, New York restaurant.

The required documents may vary from state to state--even in New York, but below is a list of a few generalized documents you may find helpful to have prepared:

• 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 comes with experience to assist you in the sale of your New Windsor, New York restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably smart not to show the majority of these documents to a prospective buyer right away. But, you should have them at hand because you will eventually require them during the sales process.

In addition, putting together these documents allows you to see your New Windsor, New York restaurant through the lens of a buyer. This provides you a clear image of the New Windsor, New York restaurant you are selling. Furthermore, it helps you identify whether there are any areas you will need to take care of.

#2 Put Your Financial Records in Order

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

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

The financial records may 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 could make it easier for you to transmit the documentation to potential buyers.

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

#3 Organize the Details of Your Commercial Lease

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

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your New Windsor, New York restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this helps with estimating the true value of your New Windsor, 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 your cash flow planning to sell your New Windsor, New York restaurant.

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

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This could help you in coming up with the overall worth of your New Windsor, New York restaurant. If you understand the overall value this may help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your New Windsor, New York restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall appearance of your New Windsor, New York restaurant does not look good to buyers, they might take a pass immediately.

To prevent this from happening, all things in and out of your New Windsor, New York restaurant must be clean. Manicured and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also simple items that would help create a great initial impression.

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

Faulty equipment can raise doubt about your financial situation and production abilities. It could even dampen the excitment of your staff, 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 concerning purchasing your New Windsor, New York restaurant.

#7 look for New Windsor Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced New Windsor, New York restaurant broker to help. A professional New Windsor, New York restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this project alone, you will need to carry out appropriate advertising. You can offer your New Windsor, New York restaurant on listing websites and let your family and friends know about your intentions to market for sale your New Windsor, New York restaurant.

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

#8 Be Prepared

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

You will never know when a buyer could visit your New Windsor, New York restaurant. Some buyers might even visit as customers in order to carry out some research before contacting you.

#9 Sell Your New Windsor, 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 complete the deal. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a New Windsor, New York Restaurant Broker

While trying to sell your New Windsor, New York restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

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

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

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

Contact a New Windsor, New York Restaurant Broker

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

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

New Windsor Zip Codes We Support: 10992, 12543, 12550, 12553, 12575, 12577