Ready to Sell Your Jamaica Plain, Massachusetts Restaurant?

After years of labor, you have made the decision sell your Jamaica Plain, Massachusetts restaurant

Considering starting a different eatery, relocating, or maybe retiring. No matter the reason, selling your Jamaica Plain, Massachusetts restaurant can be a lot more difficult than you might realize. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the labor you’ve put into it.

Important Actions to Take when Selling Your Restaurant

You can either decide to hire a eatery broker to help you in selling your Jamaica Plain, Massachusetts restaurant or do the task on your own. Whether considering selling your Jamaica Plain, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together the Business Paperwork

This is an important preparatory step to take when you begin the process of marketing your Jamaica Plain, Massachusetts restaurant.

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

• 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 assist you in the market for sale of your Jamaica Plain, 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 possible buyer right away. However, you should have them on hand because you will eventually require them during the sales process.

Also, compiling these documents lets you see your Jamaica Plain, Massachusetts restaurant through the lens of a buyer. This gives you a clear picture of the Jamaica Plain, Massachusetts restaurant you are offering for sale. Furthermore, it allows you to identify if there are any loopholes you'll have to address.

#2 Put Your Financial Records in Order

Your financial records are an important detail of selling your Jamaica Plain, Massachusetts restaurant. That’s the reason you should make it a priority to have these documents accurate and organized.

Offering your financial records to prospective buyers could assist to clear any doubt they may have regarding your Jamaica Plain, Massachusetts restaurant.

The financial documents may include:

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

Also, ensure you have soft copies of all of these records. This will make it easier for you to send the records to potential buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these items may create legal issues for you if a buyer later on discovers these ommissions post completing the deal.

#3 Organize the Details of Your Commercial Lease

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

For this reason, it is advisable to have a discussion with your landlord concerning your plan to sell your Jamaica Plain, Massachusetts restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the value of the Jamaica Plain, 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 starting to sell your Jamaica Plain, Massachusetts restaurant.

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

In addition, with regards 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 estimating the probable worth of your Jamaica Plain, Massachusetts restaurant. If you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Look Better

The first impression of your Jamaica Plain, Massachusetts restaurant can go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your Jamaica Plain, Massachusetts restaurant does not appeal to buyers, they might take a pass without a second look.

To avoid this from happening, everything in and out of your Jamaica Plain, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking area can help create appeal for potential buyers.

Clean windows, polished door handles and a neat floor are other simple items that can help create a unforgettable initial impression.

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

Non-functional equipment could raise doubt about your financial status and production capabilities. It can even lower the excitment of your staff, and in turn, 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 Jamaica Plain, Massachusetts restaurant.

#7 Search for Jamaica Plain Buyers

Looking for prospective buyers can be time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire an experienced Jamaica Plain, Massachusetts restaurant broker to help. A professional Jamaica Plain, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out appropriate advertising. You can market your Jamaica Plain, Massachusetts restaurant on listing websites and tell family and friends about your plans to market for sale your Jamaica Plain, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Jamaica Plain, Massachusetts Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. 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 ensure the Asset Purchase Agreement covers every aspect of the contract.

This document includes details such as the selling price of your Jamaica Plain, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Jamaica Plain, Massachusetts Restaurant Broker

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

The fact remains, if you're looking to achieve the most from of the business transaction, you need a higher level of expertise in order to stand above and against the competition while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is where an experienced Jamaica Plain, Massachusetts restaurant broker comes in. A Jamaica Plain, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Jamaica Plain, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Jamaica Plain, Massachusetts Restaurant Broker

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

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

Jamaica Plain Zip Codes We Support: 02130