Right Time to Sell Your Dedham, Massachusetts Restaurant?

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

Considering starting a new eatery, relocating, or even retiring. No matter the reason, selling a Dedham, Massachusetts restaurant can be a lot more complicated than you may realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the labor you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

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

#1 Gather all Necessary Paperwork

This is a necessary first step to take when you begin the process of marketing your Dedham, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but below is a list of a few generalized documents you may find helpful to have ready:

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

Corbett Restaurant Group comes with expertise to assist you in the market for sale of your Dedham, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably smart not to show the majority of these documents to a possible buyer right away. But, you should have them on hand because you will eventually need them during the sales process.

Also, compiling these documents lets you view your Dedham, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Dedham, Massachusetts restaurant you're selling. Furthermore, it allows you to identify whether there are any loopholes you'll need to address.

#2 Put Your Financials in Order

Your financial documents are a crucial part of selling your Dedham, Massachusetts restaurant. That’s the reason you should strive to make these documents complete and well organized.

Offering your financial documents to potential buyers could aid clear any doubt they may have regarding your Dedham, Massachusetts restaurant.

These financial records 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 these documents. This will make it easier for you to send the documentation to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items could create legal problems for you if a buyer later on discovers these liabilities post completing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Dedham, Massachusetts restaurant, you must find out the terms of your commercial lease. It would be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Dedham, Massachusetts restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financials, whether favorable or not, this will help them evaluate the value of the Dedham, Massachusetts restaurant.

This will be in your best interest to make sure that you augment sales and reduce expenses to increase your cash flow before trying to sell your Dedham, Massachusetts restaurant.

The estimated time it may take to sell a Dedham, 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 thus increase the worth of your Dedham, 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 could aid you in estimating the overall worth of your Dedham, Massachusetts restaurant. If you understand the overall worth this may help you settle on a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Dedham, Massachusetts restaurant can go a long way in helping you attract potential buyers. Conversely, if the overall look of your Dedham, Massachusetts restaurant does not appeal to buyers, they could take a pass right off the bat.

To prevent this from happening, everything in and out of your Dedham, Massachusetts restaurant must be cleaned and maintained. Landscaped and a clean parking lot may help create appeal for potential buyers.

Spot-free windows, polished handles and a neat floor are other simple items that can help create a unforgettable initial impression.

Furthermore, you should ensure all your equipment is in top condition. If your equipment is not working properly, it may send 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 could even dampen the morale of your employees, 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 concerning purchasing your Dedham, Massachusetts restaurant.

#7 look for Dedham Buyers

Marketing to prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may require that you hire a professional Dedham, Massachusetts restaurant broker to help. The professional Dedham, Massachusetts restaurant broker will come with recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this project by yourself, you will need to create proper advertising. You can offer your Dedham, Massachusetts restaurant on listing websites and tell family and friends about your plans to market for sale your Dedham, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Dedham, 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 deal. The paperwork will likely begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in creating this document. Working with an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the transaction.

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

Choosing a Dedham, Massachusetts Restaurant Broker

While trying to sell your Dedham, Massachusetts restaurant on your own can be an exciting project, it can also be very risky, especially for first-timers.

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

Experience is also vital during negotiations with prospective buyers. This is where an experienced Dedham, Massachusetts restaurant broker is recommended. A Dedham, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Dedham, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and for more money.

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

Contact a Dedham, Massachusetts Restaurant Broker

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

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

Dedham Zip Codes We Support: 02026, 02027