Ready to Sell Your Oceanside, New York Restaurant?

After years of hard work, you have decided to sell your Oceanside, New York restaurant

Considering opening a new Oceanside, New York restaurant, moving, or maybe retiring. No matter the reason, selling a Oceanside, New York restaurant can be a lot 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 labor you’ve put into it.

Important Steps to Take in Selling Your Restaurant

You can either make the decision to contract with a eatery broker to assist you in selling your Oceanside, New York restaurant or take on the task yourself. Whether considering selling your Oceanside, New York restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Paperwork

This is a necessary preparatory step to make when you start the process of marketing your Oceanside, New York restaurant.

The required documents may vary from state to state--even in New York, but the following is a list of some general documents you may find helpful to have on you:

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

Corbett Restaurant Group has the expertise to assist you in the sale of your Oceanside, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

You probably do not want to show all these documents to a potrntial buyer first day. However, you should have them ready because you will eventually require them during the sales process.

Also, compiling these documents allows you to view your Oceanside, New York restaurant through the lens of a buyer. It provides you a clear picture of the Oceanside, New York restaurant you're offering for sale. Furthermore, it allows you to show if there are any concerns you'll have to address.

#2 Get Your Financials in Order

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

Offering your financial documents to possible buyers may assist to clear any doubt they might have concerning your Oceanside, New York restaurant.

Your financial documents 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 the records. This could make it easier for you to transmit the information to possible buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these items may create legal issues for you if a buyer later discovers these ommissions after signing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Oceanside, New York restaurant, you need to understand of your commercial lease. It would be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Oceanside, New York restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth evaluation of your financial records, whether favorable or not, this will help them evaluate the value of the Oceanside, New York restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build up your cash flow planning to sell your Oceanside, New York restaurant.

The estimated time it takes to sell a Oceanside, New York restaurant is six months. Within those six months, there are several things you can do to strengthen your profit and slash several costs, and therefore strengthen the worth of your Oceanside, 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 could assist you in coming up with the overall worth of your Oceanside, New York restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Oceanside, New York restaurant can go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Oceanside, New York restaurant does not look good to buyers, they might pass over right off the bat.

To prevent this from happening, everything in and out of your Oceanside, New York restaurant must be clean. Landscaped and a clean parking lot may help create curb appeal for prospective buyers.

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

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

Non-functional equipment can raise doubt about your financial status and production abilities. It could even dampen the morale of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for Oceanside Buyers

Marketing to potential buyers is time-consuming and can require specific skills and a certain level of experience. This may require that you hire a professional Oceanside, New York restaurant broker to help. The professional Oceanside, New York restaurant broker will offer recommendations for saving time for drawing in more prospective buyers. However, if you decide to take on this project yourself, you will need to create appropriate advertising. You can list your Oceanside, New York restaurant on listing websites and let your family and friends know about your intentions to sell your Oceanside, New York restaurant.

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

#8 Be Prepared

Whether you decide to sell your Oceanside, New York restaurant yourself, or through a Oceanside, New York restaurant broker, you should always be ready. Be prepared to show your Oceanside, New York restaurant to potential buyers at all times.

You will never know when a buyer will walk into your Oceanside, New York restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Oceanside, New York Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to finalize the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Oceanside, New York Restaurant Broker

While attempting to sell your Oceanside, New York restaurant on your own can be an exhilarating project, it could also be very risky, especially for first-timers.

It's true, if you're looking to get the most out of the business deal, you need a higher level of expertise to stand out against the competition while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Oceanside, New York restaurant broker is needed. A Oceanside, New York restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Oceanside, New York restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Oceanside, New York Restaurant Broker

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

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

Oceanside Zip Codes We Support: 11510, 11572