Are You Ready to Sell Your Windham, Connecticut Restaurant?

After years of hard work, you have made the decision sell your Windham, Connecticut restaurant

Contemplating opening a new eatery, relocating, or even retiring. No matter the reason, selling a Windham, Connecticut restaurant can be way more complicated than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you’ve put into it.

Necessary Steps to Take in Selling Your Restaurant

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

#1 Put Together the Important Paperwork

This is an important first step to take when you start the process of offering your Windham, Connecticut restaurant.

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

• Gather your assets
• Lease contract
• 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 sale of your Windham, Connecticut restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to show all these documents to a potrntial buyer day one. However, you should have them on hand because you will eventually require them during the sales process.

Also, putting together these documents lets you view your Windham, Connecticut restaurant through the lens of a buyer. It provides you a clear picture of the Windham, Connecticut restaurant you are selling. In addition, it helps you identify whether there are any loopholes you'll have to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important part of selling your Windham, Connecticut restaurant. This is why you should make it a priority to make your documents complete and well organized.

Showing your financial records to prospective buyers may aid clear any doubt they might have regarding your Windham, Connecticut restaurant.

These financial documents 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 the documents. This will make it easier for you to transmit the information to potential buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items may create legal issues for you if a buyer later on discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Windham, Connecticut restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease hinders you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps them estimate the value of the Windham, Connecticut restaurant.

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

The average time it takes to sell a Windham, Connecticut restaurant is six months. Within the 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 Windham, Connecticut restaurant.

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

This could aid you in coming up with the probable worth of your Windham, Connecticut restaurant. If you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Windham, Connecticut restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general aesthetic of your Windham, Connecticut restaurant does not look good to buyers, they likely take a pass right off the bat.

To avoid this from happening, everything in and out of your Windham, Connecticut restaurant must be clean. Landscaped and a clean parking area may help create appeal for prospective buyers.

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

Furthermore, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it could send the message that you are in a hurry to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial status and output abilities. It could even lower the excitment of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Windham, Connecticut restaurant.

#7 Search for Windham Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Windham, Connecticut restaurant broker to help. The professional Windham, Connecticut restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project alone, you will need to carry out proper advertising. You can market your Windham, Connecticut restaurant on listing websites and let your family and friends know about your plans to market for sale your Windham, Connecticut restaurant.

As you will probably come across competition when trying to sell your Windham, Connecticut restaurant, you need your restaurant to stand out.

#8 Be Prepared

Regardless if you decide to sell your Windham, Connecticut restaurant yourself, or with a a Windham, Connecticut restaurant broker, you should always be ready. Be prepared to show your Windham, Connecticut restaurant to prospective buyers at all times.

You'll never know when a buyer could visit your Windham, Connecticut restaurant. Some buyers may even come in as customers in order to carry out some research before reaching out to you.

#9 Sell Your Windham, Connecticut Restaurant

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

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

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

Choosing a Windham, Connecticut Restaurant Broker

While trying to sell your Windham, Connecticut restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

It's true, if you're looking to get the most from of the business transaction, you need a higher level of experience to stand out against the cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Windham, Connecticut restaurant broker comes in. A Windham, Connecticut restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Windham, Connecticut restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Windham, Connecticut Restaurant Broker

Deciding to sell your Windham, Connecticut restaurant through a Windham, Connecticut restaurant broker has multiple advantages. First, however, you need to select the best Windham, Connecticut restaurant broker to assist you in selling your Windham, Connecticut restaurant.

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

Windham Zip Codes We Support: 06226, 06256, 06266, 06280