Are You Ready to Sell Your Franklin Town, Massachusetts Restaurant?

Following years of sweat equity, you have made the decision sell your Franklin Town, Massachusetts restaurant

Considering opening a different Franklin Town, Massachusetts restaurant, moving, or maybe slowing down. No matter the reason, selling a Franklin Town, Massachusetts restaurant can be a lot more difficult than you might think. This is because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either think to contract with a eatery broker to guide you in selling your Franklin Town, Massachusetts restaurant or take on the task on your own. If you are considering selling your Franklin Town, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Important Paperwork

This is an important initial step to take when you begin the process of marketing your Franklin Town, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but below is a list of a few general documents you may find helpful to have ready:

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

Corbett Restaurant Group comes with experience to help you in the market for sale of your Franklin Town, Massachusetts restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal all these documents to a prospective buyer first day. But, you should have them at hand because you will certainly require them during the sales process.

Also, putting together these documents allows you to view your Franklin Town, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Franklin Town, Massachusetts restaurant you are selling. Furthermore, it allows you to identify whether there are any loopholes you will need to take care of.

#2 Put Your Financials in Order

Your financial records are a crucial aspect of selling your Franklin Town, Massachusetts restaurant. That’s the reason you should make it a priority to make your documents complete and well organized.

Showing your financial records to prospective buyers could assist to clear any doubt they might have concerning your Franklin Town, Massachusetts restaurant.

The financial records can 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 the records. This could make it easier for you to transmit the documentation to potential buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Organize the Details of Your Commercial Lease

While preparing to sell your Franklin Town, Massachusetts restaurant, you need to understand of your commercial lease. It would be disappointing if, after attracting a buyer, your lease prevents you from sealing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Franklin Town, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an in-depth analysis of your financial records, whether favorable or not, this will help them estimate the value of the Franklin Town, Massachusetts restaurant.

It is therefore 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 Franklin Town, Massachusetts restaurant.

The estimated time it takes to sell a Franklin Town, Massachusetts restaurant is six months. Within the six months, there are several things you can do in order to increase your profit and cut several costs, and thus strengthen the worth of your Franklin Town, Massachusetts restaurant.

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

This could help you in deriving the overall worth of your Franklin Town, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Franklin Town, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Alternatively, if the general appearance of your Franklin Town, Massachusetts restaurant does not appeal to buyers, they might pass over immediately.

To prevent this from happening, all things in and out of your Franklin Town, Massachusetts restaurant must be cleaned and maintained. Landscaped and a clean parking area can help create curb appeal for potential buyers.

Spot-free windows, polished door handles and a neat floor are also simple items that can help create a memorable initial impression.

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

Non-functional equipment also raises doubt about your financial capabilities and production capabilities. It could even dampen the mood of your employees, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding buying your Franklin Town, Massachusetts restaurant.

#7 look for Franklin Town Buyers

Searching for potential buyers is time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Franklin Town, Massachusetts restaurant broker to help. The professional Franklin Town, Massachusetts restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this project by yourself, you will need to carry out appropriate advertising. You can show your Franklin Town, Massachusetts restaurant on business websites and let your family and friends know about your intentions to market for sale your Franklin Town, Massachusetts restaurant.

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

#8 Be Ready

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

You'll never know when a buyer will walk into your Franklin Town, Massachusetts restaurant. Some buyers may even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Franklin Town, Massachusetts Restaurant

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

You should have your attorney’s help in drafting this document. Involving an attorney is recommended to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Franklin Town, Massachusetts Restaurant Broker

Although attempting to sell your Franklin Town, Massachusetts restaurant on your own can be an exhilarating endeavor, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business deal, you need some level of expertise in order to stand out against the cometitors while attempting to find buyers.

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

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

Contact a Franklin Town, Massachusetts Restaurant Broker

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

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

Franklin Town Zip Codes We Support: 02038, 02053