Are You Ready to Sell Your Dracut, Massachusetts Restaurant?

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

Considering starting a new Dracut, Massachusetts restaurant, relocating, or even retiring. No matter the reason, selling your Dracut, Massachusetts restaurant can be a lot more difficult than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough money for all the time you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

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

#1 Gather the Business Paperwork

This is an important first step to make when you begin the process of selling your Dracut, 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 at hand:

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

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You probably do not want to reveal the majority of these documents to a possible buyer right away. 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 Dracut, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Dracut, Massachusetts restaurant you are offering for sale. Furthermore, it helps you identify if there are any areas you'll need to take care of.

#2 Put Your Financial Records in Order

Your financial records are a crucial detail of selling your Dracut, Massachusetts restaurant. This is the reason you should make it a priority to make your documents complete and organized.

Offering your financial documents to possible buyers could help clear any doubt they might have regarding your Dracut, Massachusetts restaurant.

The 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 the documents. This could make it easier for you to send the records to possible buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things may create legal problems for you if a buyer later on discovers these liabilities after signing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Dracut, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors could request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the value of the Dracut, Massachusetts restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to increase your cash flow planning to sell your Dracut, Massachusetts restaurant.

The average time it may take to sell a Dracut, Massachusetts restaurant is 6 months. Within the six months, there are several things you can do in order to increase your profit and slash several costs, and therefore strengthen the value of your Dracut, Massachusetts restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

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

#5 Make Your Restaurant Look Awesome

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

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

Spot-free windows, polished door handles and a presentable floor are other easy items that could help create a unforgettable initial impression.

Furthermore, you should make sure that all your equipment is in satisfactory condition. If your equipment is not functioning, it might convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial situation and production abilities. It could even dampen the excitment of your employees, which 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 buying your Dracut, Massachusetts restaurant.

#7 Search for Dracut Buyers

Searching for prospective buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Dracut, Massachusetts restaurant broker to help. A professional Dracut, Massachusetts restaurant broker will come with recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this project alone, you will need to carry out proper advertising. You can offer your Dracut, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Dracut, Massachusetts restaurant.

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

#8 Be Ready

Whether you decide to sell your Dracut, Massachusetts restaurant yourself, or with a a Dracut, Massachusetts restaurant broker, you should always be prepared. Be prepared to show your Dracut, Massachusetts restaurant to prospective buyers at all times.

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

#9 Sell Your Dracut, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the deal. The paperwork will likely start with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the transaction.

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

Choosing a Dracut, Massachusetts Restaurant Broker

While attempting to sell your Dracut, Massachusetts restaurant on your own can be an exhilarating project, it could also be quite risky, especially for first-timers.

The fact remains, in order for you to achieve the most out of the business transaction, you need a higher level of experience in order to stand out against your competition while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Dracut, Massachusetts restaurant broker is needed. A Dracut, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of selling your Dracut, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell faster and at a great price.

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

Contact a Dracut, Massachusetts Restaurant Broker

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

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

Dracut Zip Codes We Support: 01826, 01879