Decided to Sell Your Brockton, Massachusetts Restaurant?

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

Considering opening a different eatery, relocating, or even slowing down. No matter the reason, selling your Brockton, Massachusetts restaurant can be way more difficult than you may realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the sweat you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either make the decision to contract with a Brockton, Massachusetts restaurant broker to help you in selling your Brockton, Massachusetts restaurant or take on the task yourself. Whether considering selling your Brockton, 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 a necessary preparatory step to take when you start the process of offering your Brockton, 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 need to have prepared:

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

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

It's probably best not to reveal 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.

In addition, putting together these documents allows you to view your Brockton, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Brockton, Massachusetts restaurant you are offering for sale. In addition, it allows you to identify if there are any loopholes you will need to address.

#2 Get Your Financials in Order

Your financial records are an important aspect of selling your Brockton, Massachusetts restaurant. That’s why you should strive to make your documents accurate and organized.

Offering your financial documents to prospective buyers may aid clear any hesitations they might have concerning your Brockton, Massachusetts restaurant.

The financial documents can 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 the documents. This will make it easier for you to transmit the documentation to possible buyers.

Also, as a seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Brockton, Massachusetts restaurant, you need to understand of your commercial lease. It would be disappointing 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 Brockton, Massachusetts restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

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

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

The average time it takes to sell a Brockton, Massachusetts restaurant is six months. Within those six months, there is a lot you can do in order to increase your profit and cut various costs, and therefore strengthen the value of your Brockton, Massachusetts restaurant.

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

This could assist you in deriving the overall value of your Brockton, Massachusetts restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Brockton, Massachusetts restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Brockton, Massachusetts restaurant does not look good to buyers, they might pass over immediately.

To prevent this from happening, everything in and out of your Brockton, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create appeal for prospective buyers.

Spot-free windows, polished handles and a neat floor are also easy things that could help create a memorable first impression.

Additionally, you should make sure all the equipment is in top condition. If your equipment is not working properly, it might convey the message that you're in a hurry to pass a bad deal to the buyer.

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

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

#7 Search for Brockton Buyers

Marketing to prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire an experienced Brockton, Massachusetts restaurant broker to help. The professional Brockton, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this project by yourself, you will need to carry out appropriate advertising. You can market your Brockton, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to market for sale your Brockton, Massachusetts restaurant.

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

#8 Be Prepared

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

You will never know when a buyer will visit your Brockton, Massachusetts restaurant. Some buyers may even visit as customers in order to perform some research before contacting you.

#9 Sell Your Brockton, 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 finalize the contract. The paperwork will usually begin with the Asset Purchase Agreement.

You may need your attorney’s assistance in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the transaction.

This agreement includes details such as the selling price of your Brockton, Massachusetts restaurant, assets and equipment as well as inventory value.

Choosing a Brockton, Massachusetts Restaurant Broker

While trying to sell your Brockton, 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 out of the business deal, you need some level of expertise in order to stand above and against your cometitors while attempting to find buyers.

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

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

Contact a Brockton, Massachusetts Restaurant Broker

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

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

Brockton Zip Codes We Support: 02301, 02302, 02303, 02304, 02305, 02322