Are You Ready to Sell Your Rotterdam, New York Restaurant?

Following years of hard work, you have decided to sell your Rotterdam, New York restaurant

Considering opening a different eatery, relocating, or maybe retiring. No matter the reason, selling a Rotterdam, New York restaurant can be way more complicated than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the time you may have put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Gather all Necessary Documentation

This is an important initial step to make when you commence the process of offering your Rotterdam, New York restaurant.

The necessary documents may vary from state to state--even in New York, but below is a list of some generalized documents you may be requierd to have at hand:

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

Corbett Restaurant Group has the experience to help you in the sale of your Rotterdam, New York restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably best not to reveal all these documents to a possible buyer right away. However, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you see your Rotterdam, New York restaurant through the lens of a buyer. This gives you a clear image of the Rotterdam, New York restaurant you're offering for sale. Furthermore, it allows you to identify if there are any areas you will have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are a crucial part of selling your Rotterdam, New York restaurant. That’s why you should strive to make your documents accurate and organized.

Showing your financial documents to possible buyers could assist to clear any doubt they may have regarding your Rotterdam, New York restaurant.

The financial documents could 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 records. This will make it easier for you to send the records to prospective buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these things may create legal problems for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Rotterdam, New York restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this will help them evaluate the value of the Rotterdam, New York restaurant.

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

The estimated time it takes to sell a Rotterdam, New York restaurant is six months. Within the six months, there are several things you can do in order to strengthen your profit and reduce several costs, and therefore increase the value of your Rotterdam, 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 will aid you in estimating the probable value of your Rotterdam, New York restaurant. If you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Look Good

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

To avoid this from happening, everything in and out of your Rotterdam, New York restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create appeal for potential buyers.

Clean windows, polished handles and a clean floor are also small things that would help create a unforgettable initial impression.

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

Faulty equipment may rouse doubt about your financial status and output abilities. It may even lower the excitment of your employees, 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 regarding purchasing your Rotterdam, New York restaurant.

#7 Search for Rotterdam Buyers

Marketing to prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire an experienced Rotterdam, New York restaurant broker to help. A professional Rotterdam, New York restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you make the decision to handle this project by yourself, you will need to create proper advertising. You can list your Rotterdam, New York restaurant on listing websites and let your family and friends know about your plans to market for sale your Rotterdam, New York restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Rotterdam, New York Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the deal. The documentation often start with the Asset Purchase Agreement.

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

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

Choosing a Rotterdam, New York Restaurant Broker

Although attempting to sell your Rotterdam, New York restaurant on your own can be an exciting endeavor, it can also be quite risky, especially for first time sellers.

It's true, if you're looking to get the most from of the business deal, you need some level of expertise in order to stand out against your cometitors while trying to attract buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Rotterdam, New York restaurant broker comes in. A Rotterdam, New York restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Rotterdam, New York restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Rotterdam, New York Restaurant Broker

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

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

Rotterdam Zip Codes We Support: 12137, 12150, 12303, 12304, 12306