Time to Sell Your Orangetown, New York Restaurant?

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

Considering opening a new eatery, relocating, or even retiring. No matter the reason, selling your Orangetown, New York restaurant can be a lot more difficult than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you may have put into it.

Important Actions to Take in Selling Your Restaurant

You may either make the decision to contract with a Orangetown, New York restaurant broker to assist you in selling your Orangetown, New York restaurant or do the task yourself. Whether considering selling your Orangetown, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Necessary Paperwork

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

The necessary documents may vary from state to state--even in New York, but the following is a list of a few standard documents you may find helpful to have at hand:

• 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 comes with experience to help you in the sale of your Orangetown, New York restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to show all these documents to a possible buyer right away. But, you may want to have them on hand because you will eventually require them during the sales process.

Also, compiling these documents lets you see your Orangetown, New York restaurant through the lens of a buyer. This provides you a clear image of the Orangetown, New York restaurant you are selling. In addition, it helps you show if there are any loopholes you'll need to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are an important aspect of selling your Orangetown, New York restaurant. That’s the reason you should make an effort to make these documents accurate and well organized.

Showing your financial documents to potential buyers could aid clear any doubt they may have regarding your Orangetown, New York restaurant.

Your financial documents may include:

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

Also, make sure you have soft copies of all of these documents. This may make it easier for you to transmit the documentation to possible buyers.

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

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Orangetown, New York restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Appraise Your Restaurant

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

It is therefore in your best interest to make sure that you increase sales and make a reduction in your expenses to build your cash flow starting to sell your Orangetown, New York restaurant.

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

Also, 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 assist you in deriving the probable value of your Orangetown, New York restaurant. If you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Orangetown, New York restaurant could go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Orangetown, New York restaurant does not look good to buyers, they might pass over without a second look.

To avoid this from happening, everything in and out of your Orangetown, New York restaurant must be clean. Manicured and a clean parking lot can help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also small items that can help create a unforgettable first impression.

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

Faulty equipment may rouse doubt about your financial status and production abilities. It can even dampen the excitment of your staff, which in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding buying your Orangetown, New York restaurant.

#7 Search for Orangetown Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Orangetown, New York restaurant broker to help. The professional Orangetown, New York restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project by yourself, you will need to carry out proper advertising. You can list your Orangetown, New York restaurant on listing websites and let your family and friends know about your intentions to market for sale your Orangetown, New York restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Orangetown, New York restaurant yourself, or through a Orangetown, New York restaurant broker, you need to always be ready. Be prepared to show your Orangetown, New York restaurant to potential buyers at all times.

You'll never know when a buyer will visit your Orangetown, New York restaurant. Some buyers may even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Orangetown, New York Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. The documentation will likely begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Orangetown, New York Restaurant Broker

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

It's true, in order for you to get the most from of the business deal, you need some level of expertise to stand above and against the competition while attempting to attract buyers.

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

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

Contact a Orangetown, New York Restaurant Broker

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

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

Orangetown Zip Codes We Support: 10913, 10954, 10960, 10962, 10964, 10965, 10968, 10976, 10983, 10994