Are You Ready to Sell Your Fitchburg, Massachusetts Restaurant?

After years of labor, you have decided to sell your Fitchburg, Massachusetts restaurant

Contemplating opening a new eatery, moving, or maybe slowing down. No matter the reason, selling a Fitchburg, Massachusetts restaurant can be way more difficult than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the time you may have put into it.

Important Steps to Take when Selling Your Restaurant

You can either make the decision to contract with a eatery broker to guide you in selling your Fitchburg, Massachusetts restaurant or take on the task yourself. If you are considering selling your Fitchburg, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Put Together the Important Paperwork

This is a necessary preparatory step to make when you begin the process of offering your Fitchburg, Massachusetts restaurant.

The required 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 at hand:

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

Corbett Restaurant Group comes with expertise to help you in the sale of your Fitchburg, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

Also, putting together these documents lets you see your Fitchburg, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Fitchburg, Massachusetts restaurant you are offering for sale. Furthermore, it helps you show if there are any loopholes you will have to address.

#2 Put Your Financials in Order

Your financial documents are an important part of selling your Fitchburg, Massachusetts restaurant. This is why you should make an effort to have these documents complete and well organized.

Offering your financial documents to potential buyers may aid clear any doubt they may have concerning your Fitchburg, Massachusetts restaurant.

The financial documents may 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 may make it easier for you to transmit the documentation to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items can create legal issues for you if a buyer later discovers these liabilities after closing the deal.

#3 Put Together the Information On Your Commercial Lease

In the process of preparing to sell your Fitchburg, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease prevents you from sealing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the true value of your Fitchburg, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and reduce expenses to build your cash flow starting to sell your Fitchburg, Massachusetts restaurant.

The average time it may take to sell a Fitchburg, Massachusetts restaurant is six months. Within the six months, there is a lot you can do in order to strengthen your profit and cut various costs, and therefore strengthen the worth of your Fitchburg, Massachusetts restaurant.

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

This may aid you in deriving the overall worth of your Fitchburg, Massachusetts restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Fitchburg, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall aesthetic of your Fitchburg, Massachusetts restaurant does not appeal to buyers, they likely pass over immediately.

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

Spot-free windows, polished door handles and a clean floor are also simple things 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 working, it might send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial status and production capabilities. It may even dampen the morale 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 prospective buyers concerning buying your Fitchburg, Massachusetts restaurant.

#7 look for Fitchburg Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of experience. This may demand that you hire a professional Fitchburg, Massachusetts restaurant broker to help. A professional Fitchburg, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out appropriate advertising. You can show your Fitchburg, Massachusetts restaurant on listing websites and let your family and friends know about your plans to sell your Fitchburg, Massachusetts restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Fitchburg, Massachusetts restaurant yourself, or through a Fitchburg, Massachusetts restaurant broker, you should always be prepared. Be ready to show your Fitchburg, Massachusetts restaurant to prospective buyers at all times.

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

#9 Sell Your Fitchburg, Massachusetts Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the deal. The documentation will usually begin with the Asset Purchase Agreement.

You may need your attorney’s assistance 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 Fitchburg, Massachusetts restaurant, items and equipment as well as inventory value.

Choosing a Fitchburg, Massachusetts Restaurant Broker

While trying to sell your Fitchburg, Massachusetts restaurant on your own can be an exhilarating endeavor, it can also be quite risky, especially for first time sellers.

The fact remains, in order for you to achieve the most from of the business transaction, you need some level of experience to stand out against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Fitchburg, Massachusetts restaurant broker is needed. A Fitchburg, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Fitchburg, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Fitchburg, Massachusetts Restaurant Broker

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

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

Fitchburg Zip Codes We Support: 01420