Time to Sell Your Acton, Massachusetts Restaurant?

Following years of labor, you have decided to sell your Acton, Massachusetts restaurant

Contemplating opening a different eatery, moving, or even slowing down. Regardless of the reason, selling your Acton, Massachusetts restaurant can be a lot more complicated than you might realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the labor you may have put into it.

Necessary Actions to Consider when Selling Your Restaurant

You may either think to contract with a eatery broker to assist you in selling your Acton, Massachusetts restaurant or do the task yourself. If you are considering selling your Acton, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some steps you can plan for.

#1 Gather the Business Paperwork

This is a necessary preparatory step to make when you begin the process of selling your Acton, Massachusetts restaurant.

The required paperwork may vary from state to state--even in Massachusetts, but the following is a list of some generalized documents you may be requierd to have on you:

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

Corbett Restaurant Group comes with experience to help you in the sale of your Acton, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

Also, compiling these documents allows you to see your Acton, Massachusetts restaurant through the lens of a buyer. It gives you a clear image of the Acton, Massachusetts restaurant you are selling. Furthermore, it allows you to identify whether there are any areas you'll need to address.

#2 Put Your Financial Records in Order

Your financial documents are a crucial aspect of selling your Acton, Massachusetts restaurant. That’s why you should make an effort to have these documents complete and organized.

Showing your financial documents to potential buyers could assist to clear any hesitations they may have regarding your Acton, Massachusetts restaurant.

The financial documents may include:

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

In addition, make sure you have soft copies of all of the documents. This can make it easier for you to transmit the records to prospective buyers.

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

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Acton, Massachusetts restaurant, you need to review of your commercial lease. It would be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it could be advisable to talk to your landlord concerning your plan to sell your Acton, Massachusetts restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps them estimate the true value of the Acton, Massachusetts restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to increase your cash flow before trying to sell your Acton, Massachusetts restaurant.

The average time it takes to sell a Acton, Massachusetts restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and reduce various costs, and thus strengthen the value of your Acton, Massachusetts restaurant.

In addition, 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 may help you in coming up with the overall value of your Acton, Massachusetts restaurant. When you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Acton, Massachusetts restaurant can go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Acton, Massachusetts restaurant does not look good to buyers, they likely pass over without consideration.

To prevent this from happening, all things in and out of your Acton, Massachusetts restaurant must be clean. Landscaped and a clean parking area could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a presentable floor are also small things that can help create a unforgettable first impression.

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

Faulty equipment could raise doubt about your financial capabilities and production capabilities. 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 potential buyers regarding buying your Acton, Massachusetts restaurant.

#7 Search for Acton Buyers

Marketing to prospective buyers can be time-consuming and can require specific skills and a certain level of experience. This may demand that you hire a professional Acton, Massachusetts restaurant broker to help. The professional Acton, Massachusetts restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this project alone, you will need to create proper advertising. You can market your Acton, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to sell your Acton, Massachusetts restaurant.

As you will likely come across competition when trying to sell your Acton, Massachusetts restaurant, you need your restaurant to stand out.

#8 Be Prepared

Whether you decide to sell your Acton, Massachusetts restaurant yourself, or with a a Acton, Massachusetts restaurant broker, you should always be prepared. Be prepared to show your Acton, Massachusetts restaurant to prospective buyers at all times.

You'll never know when a buyer will walk into your Acton, Massachusetts restaurant. Some buyers might even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Acton, Massachusetts Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

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

This document includes details such as the selling price of your Acton, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Acton, Massachusetts Restaurant Broker

Although trying to sell your Acton, Massachusetts restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

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 the cometitors while trying to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Acton, Massachusetts restaurant broker is needed. A Acton, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Acton, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Acton, Massachusetts Restaurant Broker

Choosing to sell your Acton, Massachusetts restaurant through a Acton, Massachusetts restaurant broker has multiple advantages. First, however, you need to select the best Acton, Massachusetts restaurant broker to assist you in selling your Acton, Massachusetts restaurant.

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

Acton Zip Codes We Support: 01718, 01720, 01742