Right Time to Sell Your Dartmouth, Massachusetts Restaurant?

After years of sweat equity, you have made the decision sell your Dartmouth, Massachusetts restaurant

Considering starting a different eatery, moving, or even retiring. Regardless of the reason, selling a Dartmouth, Massachusetts restaurant can be a lot more complicated than you might realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You may either make the decision to contract with a eatery broker to help you in selling your Dartmouth, Massachusetts restaurant or take on the task on your own. Whether considering selling your Dartmouth, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Business Paperwork

This is a necessary initial step to take when you start the process of selling your Dartmouth, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but the following is a list of some generalized documents you may find helpful to have on you:

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

Corbett Restaurant Group has the expertise to assist you in the market for sale of your Dartmouth, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

You probably do not want to reveal the majority of these documents to a possible buyer day one. However, you may want to have them ready because you will eventually require them during the sales process.

In addition, putting together these documents allows you to view your Dartmouth, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Dartmouth, Massachusetts restaurant you're selling. In addition, it helps you identify whether there are any concerns you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are an important detail of selling your Dartmouth, Massachusetts restaurant. This is the reason you should make it a priority to have these documents accurate and well organized.

Showing your financial records to possible buyers may aid clear any hesitations they may have regarding your Dartmouth, Massachusetts restaurant.

Your financial documents may include:

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

In addition, make sure you have hard copies of all of the records. This will make it easier for you to send the records to possible buyers.

Also, as the seller, you must disclose information including debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items could create legal problems for you if a buyer later on discovers these liabilities post sealing the deal.

#3 Organize the Details of Your Commercial Lease

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

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

#4 Have Your Restauarant Appraised

Buyers and investors will most likely request an detailed evaluation of your financial records, whether favorable or not, this helps them estimate the value of the Dartmouth, Massachusetts restaurant.

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow planning to sell your Dartmouth, Massachusetts restaurant.

The estimated time it may take to sell a Dartmouth, Massachusetts restaurant is 6 months. Within those six months, there is a lot you can do in order to strengthen your profit and reduce various costs, and therefore strengthen the value of your Dartmouth, Massachusetts restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

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

#5 Make Your Restaurant Look Awesome

The first impression of your Dartmouth, Massachusetts restaurant could go a great distance in helping you bring potential buyers. Alternatively, if the general look of your Dartmouth, Massachusetts restaurant does not appeal to buyers, they might pass over without consideration.

To avoid this from happening, everything in and out of your Dartmouth, Massachusetts restaurant must be clean. Landscaping and a clean parking area may help create curb appeal for potential buyers.

Spot-free windows, polished handles and a clean floor are other simple items that would help create a unforgettable first impression.

Additionally, you should make sure that all your equipment is in satisfactory condition. If your equipment is not working properly, 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 situation and output abilities. It could 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 potential buyers regarding purchasing your Dartmouth, Massachusetts restaurant.

#7 look for Dartmouth Buyers

Marketing to potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire a professional Dartmouth, Massachusetts restaurant broker to help. The professional Dartmouth, Massachusetts restaurant broker will have recommendations for saving time for attracting more prospective buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can market your Dartmouth, Massachusetts restaurant on listing websites and tell family and friends about your plans to sell your Dartmouth, Massachusetts restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Dartmouth, Massachusetts restaurant. Some buyers might even visit as customers just to perform some research before reaching out to you.

#9 Sell Your Dartmouth, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. The paperwork often begin with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

This agreement includes details such as the selling price of your Dartmouth, Massachusetts restaurant, items and equipment and inventory value.

Choosing a Dartmouth, Massachusetts Restaurant Broker

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

The fact remains, in order for you to get the most from of the business transaction, you need a higher level of expertise to stand above and against your competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Dartmouth, Massachusetts restaurant broker comes in. A Dartmouth, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Dartmouth, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Dartmouth, Massachusetts Restaurant Broker

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

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

Dartmouth Zip Codes We Support: 02714, 02747, 02748, 02790