Decided to Sell Your Easthampton, Massachusetts Restaurant?

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

Considering starting a different Easthampton, Massachusetts restaurant, moving, or maybe retiring. No matter the reason, selling your Easthampton, Massachusetts restaurant can be way more complicated than you may think. This is because it takes careful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You may either make the decision to hire a Easthampton, Massachusetts restaurant broker to guide you in selling your Easthampton, Massachusetts restaurant or do the task yourself. If you are considering selling your Easthampton, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together the Important Documentation

This is an important first step to make when you begin the process of marketing your Easthampton, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but below is a list of some standard documents you may need to have prepared:

• Gather your assets
• Lease documentation
• 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 has the experience to assist you in the market for sale of your Easthampton, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to reveal all these documents to a potrntial buyer first day. However, you may want to have them at hand because you will certainly need them during the sales process.

In addition, putting together these documents lets you see your Easthampton, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Easthampton, Massachusetts restaurant you're offering for sale. In addition, it allows you to show whether there are any areas you'll have to address.

#2 Put Your Financial Documents in Order

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

Showing your financial records to potential buyers could help clear any doubt they may have regarding your Easthampton, Massachusetts restaurant.

These financial records could include:

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

In addition, make sure you have duplicate copies of all of the records. This can make it easier for you to transmit the records to potential buyers.

Also, as the seller, you have to disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things could create legal problems for you if a buyer later discovers these ommissions after closing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Easthampton, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Easthampton, Massachusetts restaurant and to possibly 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 evaluate the value of your Easthampton, Massachusetts restaurant.

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

The average time it takes to sell a Easthampton, Massachusetts restaurant is 6 months. Within the six months, there is a lot you can do to strengthen your profit and reduce several costs, and therefore increase the worth of your Easthampton, Massachusetts restaurant.

In addition, with regards to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

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

#5 Increase Curb Appeal

The first impression of your Easthampton, Massachusetts restaurant will go a great distance in helping you bring potential buyers. Conversely, if the overall look of your Easthampton, Massachusetts restaurant does not appeal to buyers, they might take a pass without consideration.

To avoid this from happening, everything in and out of your Easthampton, Massachusetts restaurant must be clean. Landscaped and a clean parking lot could help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a presentable floor are also simple things that can help create a memorable first impression.

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

Non-functional equipment could raise doubt about your financial status and production abilities. It could even dampen the excitment of your staff, 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 Easthampton, Massachusetts restaurant.

#7 Search for Easthampton Buyers

Searching for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may demand that you hire a professional Easthampton, Massachusetts restaurant broker to help. A professional Easthampton, Massachusetts restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to take on this project alone, you will need to create proper advertising. You can show your Easthampton, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Easthampton, Massachusetts restaurant.

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

#8 Be Ready

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

You'll never know when a buyer will visit your Easthampton, Massachusetts restaurant. Some buyers might even visit as customers in order to carry out some research before reaching out to you.

#9 Sell Your Easthampton, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to finalize the transaction. The documentation will usually start with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your Easthampton, Massachusetts restaurant, assets and equipment as well as inventory value.

Choosing a Easthampton, Massachusetts Restaurant Broker

While trying to sell your Easthampton, 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 get the most from of the business transaction, you need some level of experience in order to stand above and against the competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Easthampton, Massachusetts restaurant broker comes in. A Easthampton, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your Easthampton, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Easthampton, Massachusetts Restaurant Broker

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

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

Easthampton Zip Codes We Support: 01027