Time to Sell Your Queens Village, New York Restaurant?

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

Considering opening a different Queens Village, New York restaurant, relocating, or maybe retiring. Regardless of the reason, selling a Queens Village, New York restaurant can be a lot more complicated than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the labor you may have put into it.

Important Actions to Take in Selling Your Restaurant

You may either make the decision to hire a eatery broker to help you in selling your Queens Village, New York restaurant or do the task on your own. If you are considering selling your Queens Village, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather any Necessary Documentation

This is an important initial step to take when you begin the process of marketing your Queens Village, 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 general documents you may find helpful to have at hand:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Queens Village, New York restaurant. Call today for a no strings attached consultation 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 certainly need them during the sales process.

Also, putting together these documents lets you see your Queens Village, New York restaurant through the lens of a buyer. It gives you a clear image of the Queens Village, New York restaurant you're selling. In addition, it allows you to identify if there are any loopholes you will need to take care of.

#2 Get Your Financials in Order

Your financial documents are a crucial aspect of selling your Queens Village, New York restaurant. This is the reason you should make an effort to have your documents accurate and organized.

Offering your financial documents to prospective buyers could assist to clear any hesitations they might have concerning your Queens Village, New York restaurant.

These financial records could 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 can make it easier for you to transmit the records to potential buyers.

Also, as a seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these items may create legal problems for you if a buyer later discovers these liabilities post closing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Queens Village, New York restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this helps them evaluate the true value of the Queens Village, New York restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your Queens Village, New York restaurant.

The estimated time it takes to sell a Queens Village, New York restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and reduce various costs, and therefore increase the worth of your Queens Village, New York restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

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

#5 Increase Curb Appeal

The appearance of your Queens Village, New York restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Queens Village, New York restaurant does not look good to buyers, they might pass over without consideration.

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

Clean windows, polished handles and a presentable floor are also easy things that could help create a memorable initial impression.

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

Non-functional equipment can raise doubt about your financial situation and production capabilities. It can even dampen the morale of your staff, 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 potential buyers concerning buying your Queens Village, New York restaurant.

#7 look for Queens Village Buyers

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

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

#8 Be Ready

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

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

#9 Sell Your Queens Village, New York Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the transaction. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Queens Village, New York Restaurant Broker

Although trying to sell your Queens Village, New York restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, if you're looking to get the most out of the business transaction, you need some level of experience to stand above and against your cometitors while trying to find buyers.

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

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

Contact a Queens Village, New York Restaurant Broker

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

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

Queens Village Zip Codes We Support: 11427, 11428, 11429