Right Time to Sell Your Gardner, Massachusetts Restaurant?

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

Contemplating starting a different eatery, moving, or even retiring. No matter the reason, selling your Gardner, Massachusetts restaurant can be a lot more complicated than you might realize. This is because it takes thoughtful preparation and a solid game plan to successfully exit with enough proceeds for all the sweat you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either decide to contract with a Gardner, Massachusetts restaurant broker to assist you in selling your Gardner, Massachusetts restaurant or take on the task on your own. Whether considering selling your Gardner, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather the Important Paperwork

This is an important preparatory step to take when you start the process of offering your Gardner, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but the following is a list of some general documents you may need to have on you:

• 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 sale of your Gardner, Massachusetts restaurant. Call today for a no strings attached business review at (888) 266-5182.

You probably do not want to show all these documents to a prospective buyer first day. However, you should have them on hand because you will certainly require them during the sales process.

Also, putting together these documents allows you to view your Gardner, Massachusetts restaurant through the lens of a buyer. It gives you a clear image of the Gardner, Massachusetts restaurant you're offering for sale. In addition, it helps you identify whether there are any areas you'll have to take care of.

#2 Get Your Financial Documents in Order

Your financial documents are a crucial aspect of selling your Gardner, Massachusetts restaurant. That’s why you should strive to have your documents accurate and organized.

Offering your financial documents to prospective buyers may aid clear any doubt they might have concerning your Gardner, Massachusetts restaurant.

Your financial records could include:

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

Also, make sure you have hard copies of all of these records. This could make it easier for you to transmit the information to potential buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items may create legal problems for you if a buyer later discovers these ommissions post completing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Gardner, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after attracting a buyer, your lease hinders you from sealing the deal.

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

#4 Appraise Your Restaurant

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

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

The estimated time it takes to sell a Gardner, Massachusetts restaurant is 6 months. Within those six months, there is a lot you can do in order to increase your profit and slash several costs, and therefore increase the value of your Gardner, Massachusetts restaurant.

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

This may assist you in estimating the overall value of your Gardner, Massachusetts restaurant. When you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Attractive

The first impression of your Gardner, Massachusetts restaurant will go a long way in helping you bring potential buyers. Alternatively, if the overall look of your Gardner, Massachusetts restaurant does not appeal to buyers, they could take a pass immediately.

To prevent this from happening, all things in and out of your Gardner, 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 handles and a clean floor are also simple things that could help create a great initial impression.

Additionally, you should make sure all your equipment is in top condition. If your equipment is not working properly, it may convey the message that you're hurried to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial situation and production capabilities. It may even lower the mood of your employees, which 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 purchasing your Gardner, Massachusetts restaurant.

#7 Search for Gardner Buyers

Searching for prospective buyers is time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire a professional Gardner, Massachusetts restaurant broker to help. The professional Gardner, Massachusetts restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to handle this task alone, you will need to carry out appropriate advertising. You can list your Gardner, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to market for sale your Gardner, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Gardner, Massachusetts Restaurant

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

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

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

Choosing a Gardner, Massachusetts Restaurant Broker

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

It's true, if you're looking to achieve the most from of the business transaction, you need a higher level of experience in order to stand above and against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is where an experienced Gardner, Massachusetts restaurant broker is recommended. A Gardner, Massachusetts restaurant broker has the resources, expertise and strategy needed to easily take on the task of selling your Gardner, Massachusetts restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the help of a Gardner, Massachusetts restaurant broker, you can maintain your undivided attention on operating your Gardner, Massachusetts restaurant and rest assured with the knowledge that a professional is in charge of selling your Gardner, Massachusetts restaurant.

Contact a Gardner, Massachusetts Restaurant Broker

Deciding to sell your Gardner, Massachusetts restaurant through a Gardner, Massachusetts restaurant broker has multiple advantages. First, however, you need to select the best Gardner, Massachusetts restaurant broker to help you in selling your Gardner, Massachusetts restaurant.

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

Gardner Zip Codes We Support: 01440, 01441