Are You Ready to Sell Your Holyoke, Massachusetts Restaurant?

Following years of labor, you have decided to sell your Holyoke, Massachusetts restaurant

Contemplating starting a new eatery, moving, or even retiring. No matter the reason, selling a Holyoke, Massachusetts restaurant can be a lot more complicated than you may realize. Thats because it takes careful preparation and a solid strategy to successfully walk away with enough proceeds for all the labor you may have put into it.

Important Actions to Take in Selling Your Restaurant

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

#1 Put Together the Necessary Paperwork

This is a necessary initial step to take when you start the process of selling your Holyoke, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but the following is a list of a few 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 plans
• Financial statements and other important financial documents

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

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

In addition, putting together these documents lets you view your Holyoke, Massachusetts restaurant through the lens of a buyer. This provides you a clear image of the Holyoke, Massachusetts restaurant you are selling. Furthermore, it helps you identify if there are any loopholes you will have to take care of.

#2 Put Your Financials in Order

Your financial documents are a crucial aspect of selling your Holyoke, Massachusetts restaurant. This is why you should make it a priority to make these documents complete and well organized.

Offering your financial records to prospective buyers may aid clear any hesitations they might have concerning your Holyoke, Massachusetts restaurant.

These financial records may 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 documents. This could make it easier for you to send the records to possible buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items can create legal problems for you if a buyer later discovers these liabilities after completing the deal.

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Holyoke, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from sealing the deal.

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

#4 Have Your Restauarant Appraised

Buyers and investors may request an detailed analysis of your financials, whether favorable or not, this helps them estimate the value of the Holyoke, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow starting to sell your Holyoke, Massachusetts restaurant.

The average time it may take to sell a Holyoke, Massachusetts restaurant is 6 months. Within those six months, there are several things you can do in order to increase your profit and slash various costs, and thus increase the value of your Holyoke, Massachusetts restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually estimate your assets.

This will help you in deriving the probable worth of your Holyoke, Massachusetts restaurant. When you understand the overall worth this could help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Holyoke, Massachusetts restaurant could go a long way in helping you bring potential buyers. Alternatively, if the overall curb appeal of your Holyoke, Massachusetts restaurant does not appeal to buyers, they likely take a pass without a second look.

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

Clean windows, polished door handles and a neat floor are also simple things that would help create a great first impression.

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

Non-functional equipment may rouse doubt about your financial status and output abilities. It may even dampen the morale of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding buying your Holyoke, Massachusetts restaurant.

#7 Search for Holyoke Buyers

Marketing to potential buyers can be time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire an experienced Holyoke, Massachusetts restaurant broker to help. The professional Holyoke, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project alone, you will need to carry out appropriate advertising. You can show your Holyoke, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to sell your Holyoke, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Holyoke, Massachusetts Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage includes the presentation of the important paperwork to complete the deal. The documentation often begin with the Asset Purchase Agreement.

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

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

Choosing a Holyoke, Massachusetts Restaurant Broker

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

It's true, in order for you to achieve the most out of the business transaction, you need a higher level of experience in order to stand out against your competition while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Holyoke, Massachusetts restaurant broker comes in. A Holyoke, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Holyoke, Massachusetts restaurant. Additionally, a restaurant broker can help you sell quicker and at a great price.

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

Contact a Holyoke, Massachusetts Restaurant Broker

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

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

Holyoke Zip Codes We Support: 01040, 01041