Time to Sell Your Burlington, Massachusetts Restaurant?

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

Contemplating starting a new eatery, relocating, or maybe retiring. Regardless of the reason, selling a Burlington, Massachusetts restaurant can be way more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

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

#1 Put Together the Business Paperwork

This is an important preparatory step to take when you begin the process of marketing your Burlington, 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 need to have ready:

• Gather your assets
• Lease documentation
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• 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 Burlington, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to reveal all these documents to a potrntial buyer day one. However, you may want to have them on hand because you will eventually require them during the sales process.

Also, putting together these documents lets you see your Burlington, Massachusetts restaurant through the lens of a buyer. This gives you a clear picture of the Burlington, Massachusetts restaurant you are selling. Furthermore, it helps you identify whether there are any loopholes you'll have to address.

#2 Get Your Financial Records in Order

Your financial documents are an important detail of selling your Burlington, Massachusetts restaurant. This is why you should strive to have your documents complete and well organized.

Showing your financial records to prospective buyers may assist to clear any hesitations they may have regarding your Burlington, 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 hard copies of all of the documents. This may make it easier for you to transmit the documentation to prospective buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these items may create legal issues for you if a buyer later on discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Burlington, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the true value of the Burlington, Massachusetts restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow starting to sell your Burlington, Massachusetts restaurant.

The estimated time it may take to sell a Burlington, Massachusetts restaurant is six months. Within the six months, there are many things you can do to strengthen your profit and cut several costs, and therefore strengthen the worth of your Burlington, 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 will help you in coming up with the overall worth of your Burlington, Massachusetts restaurant. If you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Burlington, Massachusetts restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the overall aesthetic of your Burlington, Massachusetts restaurant does not look good to buyers, they likely pass over immediately.

To avoid this from happening, everything in and out of your Burlington, Massachusetts restaurant must be clean. Landscaped and a clean parking lot may help create curb appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are also easy items that can help create a great initial impression.

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

Faulty equipment can raise doubt about your financial situation and output capabilities. It may even lower the morale 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 prospective buyers regarding purchasing your Burlington, Massachusetts restaurant.

#7 look for Burlington Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Burlington, Massachusetts restaurant broker to help. A professional Burlington, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this task by yourself, you will need to create proper advertising. You can show your Burlington, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to market for sale your Burlington, Massachusetts restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Burlington, Massachusetts restaurant yourself, or with a a Burlington, Massachusetts restaurant broker, you need to always be ready. Be ready to show your Burlington, Massachusetts restaurant to potential buyers at all times.

You will never know when a buyer will visit your Burlington, Massachusetts restaurant. Some buyers may even come in as customers just to carry out some research before reaching out to you.

#9 Sell Your Burlington, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the contract. The paperwork often begin with the Asset Purchase Agreement.

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

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

Choosing a Burlington, Massachusetts Restaurant Broker

Although trying to sell your Burlington, Massachusetts restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

The fact remains, if you're looking to get the most from of the business deal, you need some level of experience in order to stand above and against your cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Burlington, Massachusetts restaurant broker is needed. A Burlington, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Burlington, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Burlington, Massachusetts Restaurant Broker

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

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

Burlington Zip Codes We Support: 01730, 01803, 01805