Time to Sell Your Rocky Hill, Connecticut Restaurant?

After years of labor, you have made the decision sell your Rocky Hill, Connecticut restaurant

Contemplating starting a different Rocky Hill, Connecticut restaurant, relocating, or even retiring. Regardless of the reason, selling a Rocky Hill, Connecticut restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the time you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You can either decide to contract with a Rocky Hill, Connecticut restaurant broker to help you in selling your Rocky Hill, Connecticut restaurant or do the task yourself. If you are considering selling your Rocky Hill, Connecticut restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Necessary Documentation

This is a necessary preparatory step to make when you commence the process of marketing your Rocky Hill, Connecticut restaurant.

The necessary documents may vary from state to state--even in Connecticut, but the following is a list of a few generalized documents you may need to have at hand:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Rocky Hill, Connecticut restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to show the majority of these documents to a prospective buyer first day. However, you should have them ready because you will eventually require them during the sales process.

Also, putting together these documents allows you to see your Rocky Hill, Connecticut restaurant through the lens of a buyer. This gives you a clear picture of the Rocky Hill, Connecticut restaurant you're offering for sale. In addition, it allows you to identify if there are any concerns you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial aspect of selling your Rocky Hill, Connecticut restaurant. This is why you should make an effort to have these documents complete and well organized.

Offering your financial documents to possible buyers may aid clear any hesitations they might have concerning your Rocky Hill, Connecticut restaurant.

The financial records may include:

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

Also, ensure you have duplicate copies of all of these records. This may make it easier for you to send the information to possible buyers.

Also, as a seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later on discovers these ommissions after completing the deal.

#3 Put Together the Details of Your Commercial Lease

While preparing to sell your Rocky Hill, Connecticut restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to have a discussion with your landlord regarding your plan to sell your Rocky Hill, Connecticut restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this helps them estimate the value of the Rocky Hill, Connecticut restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to build your cash flow before trying to sell your Rocky Hill, Connecticut restaurant.

The estimated time it takes to sell a Rocky Hill, Connecticut restaurant is 6 months. Within those six months, there is a lot you can do in order to increase your profit and reduce several costs, and thus increase the value of your Rocky Hill, Connecticut restaurant.

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

This may assist you in coming up with the probable worth of your Rocky Hill, Connecticut restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Rocky Hill, Connecticut restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall aesthetic of your Rocky Hill, Connecticut restaurant does not appeal to buyers, they could take a pass immediately.

To avoid this from happening, all things in and out of your Rocky Hill, Connecticut restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create curb appeal for potential buyers.

Spot-free windows, polished door handles and a presentable floor are other easy things that would help create a great initial impression.

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

Non-functional equipment can raise doubt about your financial status and production abilities. It can even dampen the morale of your staff, which in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Rocky Hill, Connecticut restaurant.

#7 look for Rocky Hill Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Rocky Hill, Connecticut restaurant broker to help. The professional Rocky Hill, Connecticut restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you make the decision to take on this project yourself, you will need to carry out appropriate advertising. You can show your Rocky Hill, Connecticut restaurant on listing websites and let your family and friends know about your plans to market for sale your Rocky Hill, Connecticut restaurant.

As you will likely run across competition when trying to sell your Rocky Hill, Connecticut restaurant, you need your restaurant to stand out.

#8 Be Prepared

Regardless if you decide to sell your Rocky Hill, Connecticut restaurant yourself, or through a Rocky Hill, Connecticut restaurant broker, you need to always be ready. Be ready to show your Rocky Hill, Connecticut restaurant to potential buyers at all times.

You will never know when a buyer could walk into your Rocky Hill, Connecticut restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Rocky Hill, Connecticut Restaurant

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

You may need your attorney’s assistance in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the transaction.

This document includes details such as the selling price of your Rocky Hill, Connecticut restaurant, assets and equipment as well as inventory value.

Choosing a Rocky Hill, Connecticut Restaurant Broker

Although trying to sell your Rocky Hill, Connecticut restaurant on your own can be an exhilarating project, it can also be very risky, especially for first time sellers.

It's true, in order for you to achieve the most out of the business deal, you need a higher level of experience in order to stand above and against your cometitors while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is when an experienced Rocky Hill, Connecticut restaurant broker is needed. A Rocky Hill, Connecticut restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Rocky Hill, Connecticut restaurant. Additionally, a restaurant broker will liekly help you sell faster and for more money.

With the assistance of a Rocky Hill, Connecticut restaurant broker, you can focus your undivided attention on operating your Rocky Hill, Connecticut restaurant and rest assured knowing that a professional is in charge of selling your Rocky Hill, Connecticut restaurant.

Contact a Rocky Hill, Connecticut Restaurant Broker

Choosing to sell your Rocky Hill, Connecticut restaurant through a Rocky Hill, Connecticut restaurant broker has multiple advantages. First, however, you need to select the best Rocky Hill, Connecticut restaurant broker to help you in selling your Rocky Hill, Connecticut restaurant.

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

Rocky Hill Zip Codes We Support: 06067