Ready to Sell Your Easton, Massachusetts Restaurant?

After years of hard work, you have decided to sell your Easton, Massachusetts restaurant

Contemplating starting a different eatery, moving, or even retiring. Regardless of the reason, selling your Easton, Massachusetts restaurant can be way more complicated than you might realize. This is because it takes careful preparation and a solid game plan to successfully exit with enough proceeds for all the time you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

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

#1 Put Together the Necessary Paperwork

This is a necessary preparatory step to take when you begin the process of selling your Easton, Massachusetts restaurant.

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

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

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

You certainly do not want to show the majority of these documents to a prospective buyer right away. But, you may want to have them on hand because you will eventually need them during the sales process.

Also, compiling these documents lets you see your Easton, Massachusetts restaurant through the lens of a buyer. This provides you a clear image of the Easton, Massachusetts restaurant you're offering for sale. In addition, it allows you to identify whether there are any concerns you will need to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial detail of selling your Easton, Massachusetts restaurant. That’s why you should strive to make these documents accurate and well organized.

Showing your financial records to prospective buyers could assist to clear any hesitations they may have concerning your Easton, Massachusetts restaurant.

The financial documents could include:

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

In addition, ensure you have hard copies of all of these documents. This could make it easier for you to transmit the information to possible buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items could create legal issues 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 Easton, 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 Easton, Massachusetts restaurant and to possibly 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 estimate the true value of the Easton, Massachusetts restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow before trying to sell your Easton, Massachusetts restaurant.

The estimated time it may take to sell a Easton, Massachusetts restaurant is six months. Within those six months, there are many things you can do to strengthen your profit and slash several costs, and thus strengthen the worth of your Easton, Massachusetts restaurant.

Also, 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 may aid you in deriving the overall worth of your Easton, Massachusetts restaurant. When you understand the overall value this could help you determine a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Easton, Massachusetts restaurant could go a long way in helping you attract potential buyers. Conversely, if the overall curb appeal of your Easton, Massachusetts restaurant does not look good to buyers, they could pass over without a second look.

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

Clean windows, polished door handles and a clean floor are other small items that can help create a unforgettable initial impression.

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

Non-functional equipment can raise doubt about your financial status and production abilities. It can even lower the mood 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 prospective buyers regarding buying your Easton, Massachusetts restaurant.

#7 look for Easton Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Easton, Massachusetts restaurant broker to help. The professional Easton, Massachusetts restaurant broker will come with recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to handle this project yourself, you will need to carry out appropriate advertising. You can show your Easton, Massachusetts restaurant on listing websites and tell family and friends about your intentions to market for sale your Easton, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Easton, Massachusetts Restaurant

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

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

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

Choosing a Easton, Massachusetts Restaurant Broker

While attempting to sell your Easton, Massachusetts restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first-timers.

It's true, if you're looking to get the most out of the business transaction, you need some level of expertise to stand out against the competition while attempting to find buyers.

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

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

Contact a Easton, Massachusetts Restaurant Broker

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

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

Easton Zip Codes We Support: 02334, 02356, 02357, 02375