Decided to Sell Your Brookline, Massachusetts Restaurant?

Following years of labor, you have made the decision sell your Brookline, Massachusetts restaurant

Considering starting a new Brookline, Massachusetts restaurant, relocating, or maybe slowing down. Regardless of the reason, selling your Brookline, Massachusetts restaurant can be a lot more difficult than you might think. This is because it takes careful preparation and a solid strategy to successfully get out with enough proceeds for all the time you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to hire a Brookline, Massachusetts restaurant broker to help you in selling your Brookline, Massachusetts restaurant or do the task on your own. Whether considering selling your Brookline, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together any Important Paperwork

This is an important first step to take when you commence the process of offering your Brookline, Massachusetts restaurant.

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

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

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

It's probably smart not to show all these documents to a possible buyer right away. However, you may want to have them at hand because you will eventually require them during the sales process.

Also, putting together these documents allows you to view your Brookline, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Brookline, Massachusetts restaurant you are selling. Furthermore, it allows you to show if there are any concerns you'll need to take care of.

#2 Put Your Financials in Order

Your financial documents are a crucial aspect of selling your Brookline, Massachusetts restaurant. This is the reason you should strive to have these documents complete and organized.

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

These financial documents may include:

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

In addition, ensure you have hard copies of all of these records. This can make it easier for you to send the information to prospective buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later discovers these liabilities post closing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Brookline, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth analysis of your financial records, whether favorable or not, this helps with estimating the value of your Brookline, Massachusetts restaurant.

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

The average time it takes to sell a Brookline, Massachusetts restaurant is six months. Within those six months, there are many things you can do in order to increase your profit and cut various costs, and thus increase the worth of your Brookline, Massachusetts restaurant.

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

This may assist you in estimating the probable value of your Brookline, Massachusetts restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Make Your Restaurant Look Better

The appearance of your Brookline, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall appearance of your Brookline, Massachusetts restaurant does not look good to buyers, they could pass over without consideration.

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

Clean windows, polished door handles and a presentable floor are other easy things that could help create a unforgettable initial impression.

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

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

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

#7 Search for Brookline Buyers

Marketing to potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Brookline, Massachusetts restaurant broker to help. A professional Brookline, Massachusetts restaurant broker will come with recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to handle this project yourself, you will need to create appropriate advertising. You can list your Brookline, Massachusetts restaurant on business websites and let your family and friends know about your plans to sell your Brookline, Massachusetts restaurant.

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

#8 Be Prepared

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

You will never know when a buyer could walk into your Brookline, Massachusetts restaurant. Some buyers may even come in as customers in order to perform some research before contacting you.

#9 Sell Your Brookline, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the deal. The documentation will usually 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 deal.

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

Choosing a Brookline, Massachusetts Restaurant Broker

While trying to sell your Brookline, Massachusetts restaurant on your own can be an exhilarating project, it can also be very risky, especially for first-timers.

It's true, if you're looking to achieve the most out of the business deal, you need some level of expertise to stand out against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Brookline, Massachusetts restaurant broker comes in. A Brookline, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Brookline, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Brookline, Massachusetts Restaurant Broker

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

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

Brookline Zip Codes We Support: 02215, 02445, 02446, 02447, 02467