Are You Ready to Sell Your Chelsea, Massachusetts Restaurant?

Following years of sweat equity, you have made the decision sell your Chelsea, Massachusetts restaurant

Considering starting a new eatery, relocating, or even slowing down. No matter the reason, selling a Chelsea, Massachusetts restaurant can be a lot more complicated than you might think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you’ve put into it.

Important Steps to Take when Selling Your Restaurant

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

#1 Put Together any Necessary Documentation

This is a necessary preparatory step to make when you begin the process of marketing your Chelsea, Massachusetts restaurant.

The required documents may vary from state to state--even in Massachusetts, but below is a list of a few standard documents you may be requierd to have prepared:

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

Corbett Restaurant Group comes with experience to help you in the market for sale of your Chelsea, 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 possible buyer right away. However, you should have them on hand because you will eventually require them during the sales process.

In addition, compiling these documents lets you view your Chelsea, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Chelsea, Massachusetts restaurant you're selling. In addition, it helps you show if there are any areas you'll have to address.

#2 Put Your Financial Records in Order

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

Offering your financial documents to potential buyers could help clear any hesitations they might have regarding your Chelsea, 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 duplicate copies of all of the documents. This could make it easier for you to send the records to prospective buyers.

Likewise, as the 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 ommissions after sealing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Chelsea, Massachusetts restaurant, you need to understand of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

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

#4 Appraise Your Restaurant

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

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

The estimated time it may take to sell a Chelsea, Massachusetts restaurant is 6 months. Within the six months, there are several things you can do in order to strengthen your profit and cut several costs, and therefore strengthen the worth of your Chelsea, Massachusetts restaurant.

In addition, when it comes 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 help you in coming up with the overall worth of your Chelsea, Massachusetts restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Look Awesome

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

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

Clean windows, polished door handles and a presentable floor are other small items that could help create a great first impression.

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

Faulty equipment may rouse doubt about your financial capabilities and production capabilities. It could even lower the excitment of your staff, 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 regarding purchasing your Chelsea, Massachusetts restaurant.

#7 Search for Chelsea Buyers

Looking for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may require that you hire an experienced Chelsea, Massachusetts restaurant broker to help. A professional Chelsea, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this task yourself, you will need to carry out proper advertising. You can show your Chelsea, Massachusetts restaurant on listing websites and tell family and friends about your plans to sell your Chelsea, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Chelsea, Massachusetts Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to complete the deal. The documentation will usually begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Chelsea, Massachusetts Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business transaction, you need some level of experience to stand out against your competition while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Chelsea, Massachusetts restaurant broker is needed. A Chelsea, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Chelsea, Massachusetts restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Chelsea, Massachusetts Restaurant Broker

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

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

Chelsea Zip Codes We Support: 02150