Decided to Sell Your Amherst, Massachusetts Restaurant?

Following years of sweat equity, you have made the decision sell your Amherst, Massachusetts restaurant

Considering starting a different Amherst, Massachusetts restaurant, relocating, or maybe retiring. No matter the reason, selling your Amherst, Massachusetts restaurant can be a lot more challenging than you might think. 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.

Important Actions to Consider in Selling Your Restaurant

You may either decide to hire a eatery broker to assist you in selling your Amherst, Massachusetts restaurant or take on the task yourself. If you are considering selling your Amherst, Massachusetts 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 preparatory step to take when you start the process of marketing your Amherst, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but below is a list of some standard documents you may be requierd to have ready:

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

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

It's probably best not to show the majority of these documents to a potrntial buyer right away. But, you may want to have them ready because you will certainly need them during the sales process.

Also, compiling these documents allows you to see your Amherst, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Amherst, Massachusetts restaurant you're selling. In addition, it allows you to show if there are any loopholes you will have to address.

#2 Put Your Financial Documents in Order

Your financial documents are an important aspect of selling your Amherst, Massachusetts restaurant. That’s why you should make it a priority to make your documents accurate and well organized.

Offering your financial documents to possible buyers may help clear any doubt they may have concerning your Amherst, Massachusetts restaurant.

Your financial documents can include:

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

In addition, ensure you have duplicate copies of all of the records. This can make it easier for you to send the documentation to potential buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Amherst, Massachusetts restaurant, you need to understand of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from closing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Amherst, Massachusetts restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth evaluation of your financials, whether favorable or not, this will help them estimate the true value of the Amherst, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow planning to sell your Amherst, Massachusetts restaurant.

The average time it may take to sell a Amherst, Massachusetts restaurant is six months. Within the six months, there are several things you can do in order to increase your profit and cut several costs, and therefore increase the value of your Amherst, Massachusetts restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This may aid you in coming up with the overall value of your Amherst, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Amherst, Massachusetts restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the general look of your Amherst, Massachusetts restaurant does not look good to buyers, they might pass over without consideration.

To avoid this from happening, all things in and out of your Amherst, Massachusetts restaurant must be clean. Manicured and a clean parking lot may help create appeal for prospective buyers.

Spot-free windows, polished handles and a clean floor are also simple items that could help create a great first impression.

Additionally, you should ensure that all the equipment is in satisfactory condition. If your equipment is not working properly, it might send the message that you are hurried to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and production abilities. It may even lower the excitment of your staff, 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 regarding buying your Amherst, Massachusetts restaurant.

#7 Search for Amherst Buyers

Marketing to potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Amherst, Massachusetts restaurant broker to help. The professional Amherst, Massachusetts restaurant broker will offer recommendations for saving time for attracting more potential buyers. However, if you decide to handle this task alone, you will need to carry out proper advertising. You can market your Amherst, Massachusetts restaurant on listing websites and let your family and friends know about your plans to market for sale your Amherst, Massachusetts restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Amherst, Massachusetts restaurant. Some buyers might even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Amherst, Massachusetts Restaurant

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

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

This document includes details including the selling price of your Amherst, Massachusetts restaurant, items and equipment and inventory value.

Choosing a Amherst, Massachusetts Restaurant Broker

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

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

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

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

Contact a Amherst, Massachusetts Restaurant Broker

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

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

Amherst Zip Codes We Support: 01002, 01003, 01004, 01059