Ready to Sell Your Falmouth, Massachusetts Restaurant?

Following years of labor, you have made the decision sell your Falmouth, Massachusetts restaurant

Considering opening a new eatery, relocating, or maybe retiring. Regardless of the reason, selling a Falmouth, Massachusetts restaurant can be a lot more complicated than you might realize. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough profit for all the sweat you may have put into it.

Necessary Actions to Take in Selling Your Restaurant

You may either think to contract with a Falmouth, Massachusetts restaurant broker to help you in selling your Falmouth, Massachusetts restaurant or do the task yourself. Whether considering selling your Falmouth, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together all Important Documentation

This is an important initial step to make when you commence the process of offering your Falmouth, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but the following is a list of some generalized documents you may find helpful to have prepared:

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

Corbett Restaurant Group has the experience to help you in the sale of your Falmouth, Massachusetts restaurant. Call today for a no strings attached business review at (888) 266-5182.

It's probably best not to show all these documents to a prospective buyer day one. However, you should have them at hand because you will eventually need them during the sales process.

In addition, putting together these documents lets you see your Falmouth, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Falmouth, Massachusetts restaurant you are offering for sale. Furthermore, it helps you show if there are any loopholes you will have to take care of.

#2 Get Your Financial Documents in Order

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

Offering your financial documents to possible buyers may assist to clear any doubt they may have regarding your Falmouth, Massachusetts restaurant.

Your financial records may include:

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

Also, ensure you have hard copies of all of the documents. This could make it easier for you to send the information to potential buyers.

Likewise, as the seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things may create legal problems for you if a buyer later on discovers these ommissions after completing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Falmouth, Massachusetts restaurant, you need to understand of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Falmouth, Massachusetts restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this will help them evaluate the value of your Falmouth, Massachusetts restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your Falmouth, Massachusetts restaurant.

The average time it takes to sell a Falmouth, Massachusetts restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and slash several costs, and thus increase the value of your Falmouth, Massachusetts restaurant.

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

This could help you in deriving the overall value of your Falmouth, Massachusetts restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your Falmouth, Massachusetts restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general aesthetic of your Falmouth, Massachusetts restaurant does not look good to buyers, they likely pass over without consideration.

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

Clean windows, polished door handles and a presentable floor are other simple items that would help create a great first impression.

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

Non-functional equipment could raise doubt about your financial situation and output capabilities. It can even dampen the excitment of your staff, and in response, negatively affect your output and effect your profit and loss statement.

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

#7 look for Falmouth Buyers

Searching for potential buyers is time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Falmouth, Massachusetts restaurant broker to help. A professional Falmouth, Massachusetts restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project yourself, you will need to create appropriate advertising. You can show your Falmouth, Massachusetts restaurant on business websites and let your family and friends know about your plans to sell your Falmouth, Massachusetts restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer will walk into your Falmouth, Massachusetts restaurant. Some buyers may even visit as customers just to carry out some research before contacting you.

#9 Sell Your Falmouth, Massachusetts Restaurant

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

You should have your attorney’s assistance in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

This document includes details including the selling price of your Falmouth, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Falmouth, Massachusetts Restaurant Broker

While trying to sell your Falmouth, Massachusetts restaurant on your own can be an exhilarating project, it could also be very risky, especially for first time sellers.

It's true, in order for you to get the most out of the business deal, you need a higher level of expertise to stand above and against the competition while attempting to find buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Falmouth, Massachusetts restaurant broker is recommended. A Falmouth, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Falmouth, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a Falmouth, Massachusetts Restaurant Broker

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

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

Falmouth Zip Codes We Support: 02536, 02540, 02541, 02543, 02556, 02565, 02574