Are You Ready to Sell Your Fall River, Massachusetts Restaurant?

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

Contemplating starting a new eatery, relocating, or even retiring. No matter the reason, selling a Fall River, Massachusetts restaurant can be a lot more challenging than you might think. Thats because it takes careful preparation and a solid strategy to successfully get out with enough proceeds for all the labor you’ve put into it.

Necessary Actions to Consider in Selling Your Restaurant

You can either make the decision to contract with a Fall River, Massachusetts restaurant broker to help you in selling your Fall River, Massachusetts restaurant or do the task yourself. If you are considering selling your Fall River, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather all Important Paperwork

This is a necessary initial step to take when you start the process of selling your Fall River, 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 be requierd to have on you:

• A list of your assets
• Lease document
• 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 sale of your Fall River, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to reveal the majority of these documents to a potrntial buyer day one. However, you may want to have them on hand because you will certainly need them during the sales process.

Also, compiling these documents allows you to view your Fall River, Massachusetts restaurant through the lens of a buyer. It gives you a clear image of the Fall River, Massachusetts restaurant you are selling. Furthermore, it allows you to identify whether there are any areas you'll need to address.

#2 Get Your Financial Records in Order

Your financial records are a crucial detail of selling your Fall River, Massachusetts restaurant. This is why you should strive to have your documents accurate and well organized.

Showing your financial records to possible buyers may aid clear any doubt they might have concerning your Fall River, Massachusetts restaurant.

These financial records could include:

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

Also, make sure you have duplicate copies of all of these records. This will make it easier for you to transmit the documentation to possible buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these items may create legal problems for you if a buyer later on discovers these liabilities post signing the deal.

#3 Organize the Details of Your Commercial Lease

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

For this reason, it is advisable to talk to your landlord regarding your plan to sell your Fall River, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of the Fall River, Massachusetts restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Fall River, Massachusetts restaurant.

The estimated time it takes to sell a Fall River, Massachusetts restaurant is six months. Within those six months, there are several things you can do to strengthen your profit and cut several costs, and therefore strengthen the worth of your Fall River, 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 estimate your assets.

This will help you in estimating the overall worth of your Fall River, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Fall River, Massachusetts restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general curb appeal of your Fall River, Massachusetts restaurant does not look good to buyers, they might pass over without a second look.

To avoid this from happening, everything in and out of your Fall River, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking area could help create appeal for potential buyers.

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

Additionally, you should make sure 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 capabilities and production abilities. It can even lower the morale of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding purchasing your Fall River, Massachusetts restaurant.

#7 Search for Fall River Buyers

Marketing to potential buyers can be time-consuming and can require specialized skills and a certain level of experience. This may require that you hire an experienced Fall River, Massachusetts restaurant broker to help. A professional Fall River, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to handle this task yourself, you will need to create appropriate advertising. You can show your Fall River, Massachusetts restaurant on listing websites and tell family and friends about your intentions to sell your Fall River, Massachusetts restaurant.

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

#8 Be Prepared

If you decide to sell your Fall River, Massachusetts restaurant yourself, or through a Fall River, Massachusetts restaurant broker, you need to always be prepared. Be prepared to show your Fall River, Massachusetts restaurant to potential buyers at all times.

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

#9 Sell Your Fall River, Massachusetts Restaurant

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

You may need your attorney’s expertise in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the contract.

This document includes details such as the selling price of your Fall River, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Fall River, Massachusetts Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business deal, you need a higher level of experience to stand above and against the cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Fall River, Massachusetts restaurant broker is recommended. A Fall River, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Fall River, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Fall River, Massachusetts Restaurant Broker

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

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

Fall River Zip Codes We Support: 02720, 02721, 02722, 02723, 02724, 02747, 02790