Ready to Sell Your Agawam, Massachusetts Restaurant?

After years of labor, you have made the decision sell your Agawam, Massachusetts restaurant

Contemplating starting a new eatery, moving, or even slowing down. Regardless of the reason, selling a Agawam, Massachusetts restaurant can be way more complicated than you may think. Thats because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the time you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You may either decide to contract with a eatery broker to help you in selling your Agawam, Massachusetts restaurant or do the task yourself. If you are considering selling your Agawam, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Business Paperwork

This is an important preparatory step to make when you start the process of marketing your Agawam, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but the following is a list of some standard documents you may need to have on you:

• Gather your assets
• Lease documentation
• 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 experience to help you in the sale of your Agawam, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show the majority of these documents to a possible buyer first day. But, you may want to have them ready because you will eventually require them during the sales process.

Also, compiling these documents allows you to view your Agawam, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Agawam, Massachusetts restaurant you are selling. In addition, it allows you to identify if there are any loopholes you will need to take care of.

#2 Put Your Financials in Order

Your financial records are an important detail of selling your Agawam, Massachusetts restaurant. This is why you should make it a priority to make your documents complete and organized.

Offering your financial documents to potential buyers may assist to clear any doubt they may have regarding your Agawam, Massachusetts restaurant.

The 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 records. This could make it easier for you to transmit the information to prospective buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later on discovers these ommissions after completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Agawam, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Agawam, Massachusetts restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of your Agawam, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Agawam, Massachusetts restaurant.

The average time it may take to sell a Agawam, Massachusetts restaurant is 6 months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and thus strengthen the worth of your Agawam, Massachusetts restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will aid you in estimating the overall worth of your Agawam, Massachusetts restaurant. When you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Agawam, Massachusetts restaurant can go a long way in helping you attract potential buyers. Alternatively, if the general curb appeal of your Agawam, Massachusetts restaurant does not look good to buyers, they likely pass over right off the bat.

To prevent this from happening, everything in and out of your Agawam, Massachusetts restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create curb appeal for potential buyers.

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

Additionally, you should make sure all your equipment is in top condition. If your equipment is not functioning, it could send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and output capabilities. It can even dampen the excitment of your employees, which in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Agawam, Massachusetts restaurant.

#7 Search for Agawam Buyers

Looking for prospective buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Agawam, Massachusetts restaurant broker to help. The professional Agawam, Massachusetts restaurant broker will offer recommendations for saving time for attracting more prospective buyers. However, if you make the decision to take on this task alone, you will need to carry out appropriate advertising. You can offer your Agawam, Massachusetts restaurant on business websites and let your family and friends know about your plans to sell your Agawam, Massachusetts restaurant.

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

#8 Be Ready

If you decide to sell your Agawam, Massachusetts restaurant yourself, or with a a Agawam, Massachusetts restaurant broker, you need to always be ready. Be prepared to show your Agawam, Massachusetts restaurant to prospective buyers at all times.

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

#9 Sell Your Agawam, Massachusetts Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the contract. The paperwork will usually start with the Asset Purchase Agreement.

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

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

Choosing a Agawam, Massachusetts Restaurant Broker

While attempting to sell your Agawam, Massachusetts restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

It's true, in order for you to achieve the most from of the business transaction, you need a higher level of experience in order to stand out against your cometitors while trying to attract buyers.

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

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

Contact a Agawam, Massachusetts Restaurant Broker

Deciding to sell your Agawam, Massachusetts restaurant through a Agawam, Massachusetts restaurant broker has several advantages. First, however, you need to select the best Agawam, Massachusetts restaurant broker to assist you in selling your Agawam, Massachusetts restaurant.

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

Agawam Zip Codes We Support: 01001