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

After years of hard work, you have made the decision sell your Wallkill, New York restaurant

Considering opening a different eatery, relocating, or even slowing down. Regardless of the reason, selling your Wallkill, New York restaurant can be a lot more challenging than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully exit with enough proceeds for all the labor you’ve put into it.

Necessary Steps to Consider in Selling Your Restaurant

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

#1 Gather any Important Paperwork

This is a necessary first step to make when you begin the process of selling your Wallkill, New York restaurant.

The necessary documents may vary from state to state--even in New York, but below is a list of a few general documents you may be requierd to have on you:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Wallkill, New York restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show all these documents to a potrntial buyer right away. But, you should have them on hand because you will eventually need them during the sales process.

Also, putting together these documents allows you to see your Wallkill, New York restaurant through the lens of a buyer. It provides you a clear picture of the Wallkill, New York restaurant you are offering for sale. In addition, it allows you to show if there are any concerns you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are an important detail of selling your Wallkill, New York restaurant. This is why you should make it a priority to make your documents accurate and well organized.

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

The financial documents can 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 can make it easier for you to transmit the information to prospective buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Wallkill, New York restaurant, you need to review of your commercial lease. It would be devestating if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the value of your Wallkill, New York restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to build your cash flow starting to sell your Wallkill, New York restaurant.

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

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

This may help you in estimating the probable worth of your Wallkill, New York restaurant. When you understand the overall worth this may help you determine a selling price.

#5 Make Your Restaurant Look Good

The first impression of your Wallkill, New York restaurant will go a great distance in helping you bring potential buyers. Conversely, if the general look of your Wallkill, New York restaurant does not look good to buyers, they likely take a pass without a second look.

To avoid this from happening, all things in and out of your Wallkill, New York restaurant must be cleaned and maintained. Landscaping and a clean parking lot could help create appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other simple things that could help create a memorable first impression.

Furthermore, you should make sure that all the equipment is in top condition. If your equipment is not working, 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 output abilities. It could even dampen the mood of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Wallkill, New York restaurant.

#7 Search for Wallkill Buyers

Searching for potential buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Wallkill, New York restaurant broker to help. A professional Wallkill, New York restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this task by yourself, you will need to carry out proper advertising. You can market your Wallkill, New York restaurant on business websites and let your family and friends know about your plans to market for sale your Wallkill, New York restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Wallkill, New York Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The paperwork often start with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your Wallkill, New York restaurant, assets and equipment and inventory value.

Choosing a Wallkill, New York Restaurant Broker

While trying to sell your Wallkill, New York restaurant on your own can be an exciting project, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most from of the business transaction, you need a higher level of expertise in order to stand out against your competition while trying to attract buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Wallkill, New York restaurant broker comes in. A Wallkill, New York restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Wallkill, New York restaurant. Additionally, a restaurant broker can help you sell quicker and for more money.

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

Contact a Wallkill, New York Restaurant Broker

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

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

Wallkill Zip Codes We Support: 10919, 10924, 10932, 10940, 10941, 12549, 12721