Time to Sell Your Chicopee, Massachusetts Restaurant?

Following years of labor, you have decided to sell your Chicopee, Massachusetts restaurant

Contemplating opening a different eatery, moving, or maybe slowing down. Regardless of the reason, selling a Chicopee, Massachusetts restaurant can be way more difficult than you might realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the time you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either decide to contract with a Chicopee, Massachusetts restaurant broker to guide you in selling your Chicopee, Massachusetts restaurant or take on the task on your own. Whether considering selling your Chicopee, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather the Necessary Paperwork

This is a necessary preparatory step to make when you commence the process of offering your Chicopee, Massachusetts restaurant.

The necessary paperwork 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 on you:

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

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It's probably best not to reveal the majority of these documents to a possible buyer first day. However, you may want to have them on hand because you will certainly require them during the sales process.

Also, putting together these documents allows you to view your Chicopee, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Chicopee, Massachusetts restaurant you're offering for sale. In addition, it helps you show if there are any areas you'll have to take care of.

#2 Put Your Financial Documents in Order

Your financial documents are a crucial part of selling your Chicopee, Massachusetts restaurant. This is why you should make an effort to make your documents complete and organized.

Showing your financial documents to prospective buyers may assist to clear any doubt they may have regarding your Chicopee, Massachusetts restaurant.

These financial records may include:

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

Also, make sure you have hard copies of all of these documents. This can make it easier for you to send the information to prospective buyers.

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

#3 Organize the Details of Your Commercial Lease

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

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors may request an detailed evaluation of your financials, whether favorable or not, this helps them evaluate the value of your Chicopee, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Chicopee, Massachusetts restaurant.

The estimated time it takes to sell a Chicopee, Massachusetts restaurant is 6 months. Within the six months, there are several things you can do in order to increase your profit and slash various costs, and thus strengthen the value of your Chicopee, Massachusetts restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This will aid you in estimating the probable value of your Chicopee, Massachusetts restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Chicopee, Massachusetts restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Chicopee, Massachusetts restaurant does not look good to buyers, they might take a pass without consideration.

To prevent this from happening, everything in and out of your Chicopee, Massachusetts restaurant must be clean. Manicured and a clean parking lot may help create appeal for prospective buyers.

Clean windows, polished door handles and a neat floor are other small things that would help create a unforgettable first impression.

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

Non-functional equipment may rouse doubt about your financial capabilities and production abilities. It could even lower the morale of your staff, and in response, negatively affect your output and effect your profit and loss statement.

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

#7 look for Chicopee Buyers

Searching for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Chicopee, Massachusetts restaurant broker to help. A professional Chicopee, Massachusetts restaurant broker will come with recommendations for saving time for attracting more potential buyers. However, if you make the decision to take on this project alone, you will need to carry out appropriate advertising. You can market your Chicopee, Massachusetts restaurant on listing websites and let your family and friends know about your plans to sell your Chicopee, Massachusetts restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could visit your Chicopee, Massachusetts restaurant. Some buyers might even come in as customers in order to perform some research before contacting you.

#9 Sell Your Chicopee, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the transaction. The documentation will likely begin with the Asset Purchase Agreement.

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

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

Choosing a Chicopee, Massachusetts Restaurant Broker

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

It's true, in order for you to achieve the most from of the business transaction, you need some level of expertise in order to stand above and against the competition while trying to attract buyers.

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

With the help of a Chicopee, Massachusetts restaurant broker, you can focus your undivided attention on operating your Chicopee, Massachusetts restaurant and rest assured knowing that a professional is in charge of selling your Chicopee, Massachusetts restaurant.

Contact a Chicopee, Massachusetts Restaurant Broker

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

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

Chicopee Zip Codes We Support: 01013, 01014, 01020, 01021, 01022