Ready to Sell Your Greenfield, Massachusetts Restaurant?

Following years of sweat equity, you have decided to sell your Greenfield, Massachusetts restaurant

Contemplating opening a different Greenfield, Massachusetts restaurant, relocating, or maybe retiring. Regardless of the reason, selling your Greenfield, Massachusetts restaurant can be a lot more challenging than you might realize. This is because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the labor you may have put into it.

Important Actions to Take when Selling Your Restaurant

You can either make the decision to hire a Greenfield, Massachusetts restaurant broker to guide you in selling your Greenfield, Massachusetts restaurant or do the task yourself. Whether considering selling your Greenfield, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Paperwork

This is an important first step to make when you start the process of offering your Greenfield, Massachusetts restaurant.

The required documents may vary from state to state--even in Massachusetts, but below is a list of a few generalized documents you may need to have at hand:

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

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

It's probably best not to reveal the majority of these documents to a potrntial buyer right away. But, you should have them on hand because you will certainly need them during the sales process.

In addition, compiling these documents lets you view your Greenfield, Massachusetts restaurant through the lens of a buyer. This provides you a clear image of the Greenfield, Massachusetts restaurant you're offering for sale. In addition, it allows you to identify whether there are any concerns you'll need to address.

#2 Get Your Financials in Order

Your financial records are an important detail of selling your Greenfield, Massachusetts restaurant. That’s the reason you should strive to make your documents complete and well organized.

Showing your financial documents to prospective buyers may help clear any doubt they may have regarding your Greenfield, Massachusetts restaurant.

The financial records could include:

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

In addition, ensure you have hard copies of all of the records. This will make it easier for you to send the information to possible buyers.

In addition, as a seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failure to inform a buyer about these items could create legal issues for you if a buyer later discovers these ommissions post signing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Greenfield, Massachusetts restaurant, you need to understand of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an in-depth analysis of your financial records, whether favorable or not, this helps them estimate the true value of the Greenfield, Massachusetts restaurant.

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

The estimated time it may take to sell a Greenfield, Massachusetts restaurant is 6 months. Within those six months, there are several things you can do to strengthen your profit and cut several costs, and therefore increase the worth of your Greenfield, Massachusetts restaurant.

Also, 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 could assist you in deriving the probable value of your Greenfield, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Greenfield, Massachusetts restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your Greenfield, Massachusetts restaurant does not look good to buyers, they could pass over right off the bat.

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

Clean windows, polished door handles and a clean floor are also easy items that can help create a great first impression.

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

Faulty equipment also raises doubt about your financial status and output capabilities. It could even lower the excitment of your employees, which in turn, 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 Greenfield, Massachusetts restaurant.

#7 Search for Greenfield Buyers

Looking for prospective buyers is time-consuming and can require specific skills and a certain level of experience. This may demand that you hire an experienced Greenfield, Massachusetts restaurant broker to help. The professional Greenfield, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this project alone, you will need to carry out proper advertising. You can list your Greenfield, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Greenfield, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Greenfield, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The documentation will likely start with the Asset Purchase Agreement.

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

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

Choosing a Greenfield, Massachusetts Restaurant Broker

While trying to sell your Greenfield, Massachusetts restaurant on your own can be an exciting endeavor, it could also be very risky, especially for first-timers.

The fact remains, if you're looking to get the most out of the business transaction, you need some level of experience to stand out against your competition while trying to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Greenfield, Massachusetts restaurant broker is needed. A Greenfield, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Greenfield, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Greenfield, Massachusetts Restaurant Broker

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

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

Greenfield Zip Codes We Support: 01301, 01302