Ready to Sell Your Arlington, Massachusetts Restaurant?

After years of labor, you have decided to sell your Arlington, Massachusetts restaurant

Contemplating starting a new Arlington, Massachusetts restaurant, relocating, or even slowing down. Regardless of the reason, selling your Arlington, Massachusetts restaurant can be way more difficult than you may realize. Thats because it takes thoughtful preparation and a solid game plan to successfully exit with enough profit for all the labor you’ve put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either think to hire a eatery broker to help you in selling your Arlington, Massachusetts restaurant or take on the task on your own. If you are considering selling your Arlington, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather any Necessary Documentation

This is an important preparatory step to make when you commence the process of offering your Arlington, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but the following is a list of a few standard documents you may find helpful to have ready:

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

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It's probably smart not to show the majority of these documents to a prospective buyer right away. However, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Arlington, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Arlington, Massachusetts restaurant you're selling. In addition, it allows you to show whether there are any concerns you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important part of selling your Arlington, Massachusetts restaurant. This is the reason you should make it a priority to make your documents complete and well organized.

Offering your financial documents to prospective buyers could assist to clear any hesitations they may have concerning your Arlington, Massachusetts restaurant.

Your financial records could 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 these records. This may make it easier for you to send the information to prospective buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these things could create legal problems for you if a buyer later discovers these liabilities after sealing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Arlington, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed evaluation of your financial records, whether favorable or not, this helps with estimating the value of your Arlington, Massachusetts restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow planning to sell your Arlington, Massachusetts restaurant.

The average time it takes to sell a Arlington, Massachusetts restaurant is 6 months. Within those six months, there are several things you can do in order to increase your profit and cut various costs, and therefore strengthen the worth of your Arlington, Massachusetts 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 will assist you in estimating the overall worth of your Arlington, Massachusetts restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Arlington, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall aesthetic of your Arlington, Massachusetts restaurant does not look good to buyers, they likely take a pass without a second look.

To avoid this from happening, all things in and out of your Arlington, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking area may help create appeal for prospective buyers.

Spot-free windows, polished handles and a clean floor are also small items that would help create a memorable initial impression.

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

Faulty equipment also raises doubt about your financial status and production capabilities. It can even lower the excitment of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Arlington, Massachusetts restaurant.

#7 Search for Arlington Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Arlington, Massachusetts restaurant broker to help. A professional Arlington, Massachusetts restaurant broker will offer recommendations for saving time for drawing in more potential buyers. However, if you decide to take on this project alone, you will need to create proper advertising. You can offer your Arlington, Massachusetts restaurant on listing websites and let your family and friends know about your plans to market for sale your Arlington, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Arlington, Massachusetts Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the deal. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

This document includes details including the selling price of your Arlington, Massachusetts restaurant, assets and equipment as well as inventory value.

Choosing a Arlington, Massachusetts Restaurant Broker

While trying to sell your Arlington, Massachusetts restaurant on your own can be an exciting endeavor, 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 attempting to attract buyers.

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

With the help of a Arlington, Massachusetts restaurant broker, you can focus your undivided attention on operating your Arlington, Massachusetts restaurant and rest easy knowing that a professional is in charge of selling your Arlington, Massachusetts restaurant.

Contact a Arlington, Massachusetts Restaurant Broker

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

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

Arlington Zip Codes We Support: 02474, 02476