Time to Sell Your Spring Valley, New York Restaurant?

Following years of labor, you have made the decision sell your Spring Valley, New York restaurant

Contemplating starting a different eatery, moving, or maybe slowing down. Regardless of the reason, selling a Spring Valley, New York restaurant can be a lot more challenging than you may think. Thats because it takes careful preparation and a solid strategy to successfully get out with enough money for all the time you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You can either decide to contract with a Spring Valley, New York restaurant broker to guide you in selling your Spring Valley, New York restaurant or take on the task on your own. Whether considering selling your Spring Valley, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Important Paperwork

This is a necessary preparatory step to take when you begin the process of marketing your Spring Valley, New York restaurant.

The required paperwork may vary from state to state--even in New York, but the following 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 has the expertise to help you in the sale of your Spring Valley, New York restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a possible buyer right away. But, you should have them ready because you will eventually need them during the sales process.

Also, putting together these documents allows you to see your Spring Valley, New York restaurant through the lens of a buyer. It gives you a clear image of the Spring Valley, New York restaurant you're selling. In addition, it allows you to identify if there are any concerns you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are a crucial aspect of selling your Spring Valley, New York restaurant. That’s why you should make an effort to make your documents accurate and organized.

Showing your financial records to possible buyers could aid clear any hesitations they may have concerning your Spring Valley, New York restaurant.

These financial documents may include:

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

Also, make sure you have hard copies of all of these documents. This may make it easier for you to transmit the information to potential buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions after signing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Spring Valley, 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 closing the deal.

For this reason, it could be advisable to have a discussion with your landlord regarding your plan to sell your Spring Valley, New York restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

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

It is therefore in your best interest to make sure that you augment sales and reduce expenses to build your cash flow planning to sell your Spring Valley, New York restaurant.

The estimated time it may take to sell a Spring Valley, New York restaurant is six months. Within those six months, there is a lot you can do to increase your profit and slash several costs, and therefore increase the value of your Spring Valley, New York restaurant.

In addition, with regards 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 help you in deriving the overall value of your Spring Valley, New York restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Spring Valley, New York restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your Spring Valley, New York restaurant does not look good to buyers, they might pass over immediately.

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

Spot-free windows, polished handles and a neat floor are other simple items that could help create a memorable initial impression.

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

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

You should look credible in order to build the confidence of prospective buyers concerning buying your Spring Valley, New York restaurant.

#7 Search for Spring Valley Buyers

Searching for prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Spring Valley, New York restaurant broker to help. The professional Spring Valley, New York restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to handle this task alone, you will need to create proper advertising. You can list your Spring Valley, New York restaurant on listing websites and let your family and friends know about your intentions to market for sale your Spring Valley, New York restaurant.

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

#8 Be Prepared

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

You never know when a buyer could visit your Spring Valley, New York restaurant. Some buyers may even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Spring Valley, New York Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the contract. The documentation will likely start with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the deal.

This agreement includes details such as the selling price of your Spring Valley, New York restaurant, assets and equipment as well as inventory value.

Choosing a Spring Valley, New York Restaurant Broker

While attempting to sell your Spring Valley, New York restaurant on your own can be an exciting endeavor, it can 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 experience to stand out against your cometitors while trying to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Spring Valley, New York restaurant broker is needed. A Spring Valley, New York restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Spring Valley, New York restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Spring Valley, New York Restaurant Broker

Deciding to sell your Spring Valley, New York restaurant through a Spring Valley, New York restaurant broker has many advantages. First, however, you need to select the best Spring Valley, New York restaurant broker to help you in selling your Spring Valley, New York restaurant.

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

Spring Valley Zip Codes We Support: 10952, 10977