Time to Sell Your Canton, Massachusetts Restaurant?

Following years of hard work, you have decided to sell your Canton, Massachusetts restaurant

Contemplating opening a different eatery, relocating, or even retiring. Regardless of the reason, selling a Canton, Massachusetts restaurant can be a lot more challenging than you might realize. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the time you’ve put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either decide to hire a eatery broker to help you in selling your Canton, Massachusetts restaurant or do the task yourself. If you are considering selling your Canton, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Business Documentation

This is an important first step to make when you commence the process of selling your Canton, Massachusetts restaurant.

The required documents may vary from state to state--even in Massachusetts, but the following is a list of a few general documents you may find helpful to have prepared:

• Gather your assets
• Lease document
• 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 experience to help you in the sale of your Canton, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer right away. But, you should have them at hand because you will eventually need them during the sales process.

In addition, compiling these documents lets you view your Canton, Massachusetts restaurant through the lens of a buyer. It gives you a clear picture of the Canton, Massachusetts restaurant you are selling. Furthermore, it helps you identify if there are any loopholes you'll have to take care of.

#2 Get Your Financials in Order

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

Showing your financial records to potential buyers may assist to clear any hesitations they might have regarding your Canton, 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 soft copies of all of the documents. This can make it easier for you to send the information to potential buyers.

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

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Canton, Massachusetts restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Canton, Massachusetts restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

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

This will be in your best interest to ensure that you augment sales and reduce expenses to increase your cash flow starting to sell your Canton, Massachusetts restaurant.

The estimated time it takes to sell a Canton, Massachusetts restaurant is six months. Within those six months, there are several things you can do in order to strengthen your profit and slash various costs, and therefore increase the worth of your Canton, Massachusetts restaurant.

In addition, 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 will help you in estimating the overall value of your Canton, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Canton, Massachusetts restaurant can go a long way in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Canton, Massachusetts restaurant does not look good to buyers, they might take a pass immediately.

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

Clean windows, polished door handles and a clean floor are other simple items that could help create a memorable initial impression.

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not functioning, it might convey the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial status and output capabilities. It can even dampen the mood of your staff, and 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 purchasing your Canton, Massachusetts restaurant.

#7 Search for Canton Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire an experienced Canton, Massachusetts restaurant broker to help. A professional Canton, Massachusetts restaurant broker will have recommendations for saving time for drawing in more prospective buyers. However, if you make the decision to take on this task alone, you will need to create appropriate advertising. You can list your Canton, Massachusetts restaurant on business websites and tell family and friends about your intentions to sell your Canton, Massachusetts restaurant.

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

#8 Be Prepared

Regardless if you decide to sell your Canton, Massachusetts restaurant yourself, or through a Canton, Massachusetts restaurant broker, you should always be prepared. Be prepared to show your Canton, Massachusetts restaurant to potential buyers at all times.

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

#9 Sell Your Canton, Massachusetts Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the transaction. The paperwork will usually start with the Asset Purchase Agreement.

You may need your attorney’s help in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the deal.

This document includes details such as the selling price of your Canton, Massachusetts restaurant, items and equipment as well as inventory value.

Choosing a Canton, Massachusetts Restaurant Broker

Although attempting to sell your Canton, Massachusetts restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first-timers.

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

Expertise is also vital during negotiations with potential buyers. This is when an experienced Canton, Massachusetts restaurant broker is recommended. A Canton, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Canton, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Canton, Massachusetts Restaurant Broker

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

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

Canton Zip Codes We Support: 02021