Are You Ready to Sell Your Rockville Centre, New York Restaurant?

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

Considering opening a new eatery, moving, or even slowing down. No matter the reason, selling your Rockville Centre, New York restaurant can be a lot more difficult than you may think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough proceeds for all the labor you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either make the decision to contract with a Rockville Centre, New York restaurant broker to guide you in selling your Rockville Centre, New York restaurant or take on the task on your own. If you are considering selling your Rockville Centre, New York restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together the Necessary Documentation

This is a necessary preparatory step to make when you commence the process of offering your Rockville Centre, New York restaurant.

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

• A list of your assets
• Lease document
• 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 comes with experience to assist you in the market for sale of your Rockville Centre, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

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

In addition, compiling these documents allows you to view your Rockville Centre, New York restaurant through the lens of a buyer. It provides you a clear picture of the Rockville Centre, New York restaurant you are offering for sale. Furthermore, it allows you to show whether there are any areas you will need to address.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Rockville Centre, New York restaurant. This is why you should strive to make your documents accurate and well organized.

Offering your financial documents to potential buyers could assist to clear any doubt they may have regarding your Rockville Centre, New York restaurant.

The financial documents may include:

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

Also, ensure you have hard copies of all of the documents. This will make it easier for you to transmit the records to prospective buyers.

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

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Rockville Centre, New York restaurant, you must find out the terms of your commercial lease. It could be devestating if, after attracting a buyer, your lease ends up preventing you from closing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this helps them estimate the value of your Rockville Centre, New York restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build your cash flow before trying to sell your Rockville Centre, New York restaurant.

The estimated time it may take to sell a Rockville Centre, New York restaurant is 6 months. Within the six months, there are several things you can do to increase your profit and slash several costs, and therefore increase the worth of your Rockville Centre, New York restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This could assist you in deriving the overall value of your Rockville Centre, New York restaurant. If you understand the overall value this could help you determine a selling price.

#5 Increase Curb Appeal

The appearance of your Rockville Centre, New York restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall appearance of your Rockville Centre, New York restaurant does not look good to buyers, they could pass over without consideration.

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

Clean windows, polished handles and a presentable floor are other easy things that can help create a great initial impression.

Additionally, you should ensure all the equipment is in top condition. If your equipment is not functioning, it can convey the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment also raises doubt about your financial situation and output abilities. It may even dampen the excitment of your employees, and in response, 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 buying your Rockville Centre, New York restaurant.

#7 look for Rockville Centre Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Rockville Centre, New York restaurant broker to help. A professional Rockville Centre, 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 by yourself, you will need to create proper advertising. You can offer your Rockville Centre, New York restaurant on listing websites and let your family and friends know about your intentions to sell your Rockville Centre, New York restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Rockville Centre, New York restaurant. Some buyers might even come in as customers in order to perform some research before contacting you.

#9 Sell Your Rockville Centre, New York Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the deal. The paperwork will usually begin with the Asset Purchase Agreement.

You may need your attorney’s help in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Rockville Centre, New York Restaurant Broker

While trying to sell your Rockville Centre, New York restaurant on your own can be an exhilarating endeavor, it can 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 in order to stand above and against your competition while attempting to find buyers.

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

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

Contact a Rockville Centre, New York Restaurant Broker

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

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

Rockville Centre Zip Codes We Support: 11563, 11570, 11571