Are You Ready to Sell Your Bridgewater, Massachusetts Restaurant?

After years of sweat equity, you have made the decision sell your Bridgewater, Massachusetts restaurant

Contemplating opening a different eatery, relocating, or maybe retiring. Regardless of the reason, selling your Bridgewater, Massachusetts restaurant can be a lot more complicated than you might think. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You may either make the decision to hire a eatery broker to assist you in selling your Bridgewater, Massachusetts restaurant or take on the task yourself. Whether considering selling your Bridgewater, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Important Paperwork

This is an important first step to take when you start the process of selling your Bridgewater, Massachusetts restaurant.

The required documents may vary from state to state--even in Massachusetts, but the following is a list of some general 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 documentation
• Architectural plans
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to help you in the sale of your Bridgewater, Massachusetts restaurant. Call today for a no-obligation business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a prospective buyer first day. However, you may want to have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you see your Bridgewater, Massachusetts restaurant through the lens of a buyer. It provides you a clear image of the Bridgewater, Massachusetts restaurant you are selling. In addition, it allows you to show if there are any loopholes you will have to take care of.

#2 Put Your Financial Documents in Order

Your financial records are an important detail of selling your Bridgewater, Massachusetts restaurant. That’s why you should make it a priority to have these documents complete and organized.

Offering your financial documents to potential buyers could assist to clear any doubt they might have regarding your Bridgewater, Massachusetts restaurant.

The financial documents could include:

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

Also, ensure you have hard copies of all of these documents. This will make it easier for you to send the records to prospective buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things may create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Bridgewater, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the true value of the Bridgewater, Massachusetts restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow starting to sell your Bridgewater, Massachusetts restaurant.

The average time it may take to sell a Bridgewater, Massachusetts restaurant is six months. Within those six months, there is a lot you can do to strengthen your profit and slash several costs, and thus strengthen the value of your Bridgewater, Massachusetts restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This could aid you in estimating the overall value of your Bridgewater, 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 Bridgewater, Massachusetts restaurant can go a long way in helping you bring potential buyers. Conversely, if the general curb appeal of your Bridgewater, Massachusetts restaurant does not look good to buyers, they might pass over right off the bat.

To prevent this from happening, all things in and out of your Bridgewater, Massachusetts restaurant must be clean. Landscaping 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 simple things that would help create a unforgettable first impression.

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working, it can convey the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial capabilities and production capabilities. It may even dampen 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 regarding buying your Bridgewater, Massachusetts restaurant.

#7 Search for Bridgewater Buyers

Looking for prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Bridgewater, Massachusetts restaurant broker to help. The professional Bridgewater, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create proper advertising. You can market your Bridgewater, Massachusetts restaurant on business websites and let your family and friends know about your plans to market for sale your Bridgewater, Massachusetts restaurant.

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

#8 Be Prepared

Whether you decide to sell your Bridgewater, Massachusetts restaurant yourself, or through a Bridgewater, Massachusetts restaurant broker, you need to always be ready. Be ready to show your Bridgewater, Massachusetts restaurant to prospective buyers at all times.

You never know when a buyer could walk into your Bridgewater, Massachusetts restaurant. Some buyers may even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Bridgewater, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to complete the contract. The documentation often start with the Asset Purchase Agreement.

You should have your attorney’s expertise in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Bridgewater, Massachusetts Restaurant Broker

While trying to sell your Bridgewater, Massachusetts restaurant on your own can be an exhilarating endeavor, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most from of the business transaction, you need a higher level of experience in order to stand above and against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Bridgewater, Massachusetts restaurant broker comes in. A Bridgewater, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Bridgewater, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Bridgewater, Massachusetts Restaurant Broker

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

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

Bridgewater Zip Codes We Support: 02324, 02325