Are You Ready to Sell Your Malden, Massachusetts Restaurant?

Following years of hard work, you have made the decision sell your Malden, Massachusetts restaurant

Contemplating opening a different eatery, relocating, or maybe retiring. Regardless of the reason, selling a Malden, Massachusetts restaurant can be a lot more complicated than you may think. This is because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the labor you may have put into it.

Necessary Steps to Consider when Selling Your Restaurant

You may either think to contract with a eatery broker to help you in selling your Malden, Massachusetts restaurant or do the task yourself. If you are considering selling your Malden, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather all Important Documentation

This is a necessary first step to take when you commence the process of selling your Malden, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but the following is a list of some generalized documents you may be requierd to have at hand:

• A list of 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 assist you in the market for sale of your Malden, Massachusetts restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably smart not to show the majority of these documents to a potrntial buyer first day. But, you may want to have them at hand because you will certainly need them during the sales process.

Also, putting together these documents allows you to view your Malden, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Malden, Massachusetts restaurant you're offering for sale. In addition, it allows you to identify if there are any areas you'll have to address.

#2 Get Your Financials in Order

Your financial records are a crucial aspect of selling your Malden, Massachusetts restaurant. This is the reason you should make an effort to make your documents accurate and organized.

Offering your financial records to possible buyers could aid clear any doubt they might have regarding your Malden, Massachusetts restaurant.

Your financial documents may include:

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

Also, ensure you have duplicate copies of all of these documents. This can make it easier for you to transmit the documentation to prospective buyers.

Also, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failure to inform a buyer regarding these items could create legal issues for you if a buyer later on discovers these ommissions after completing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Malden, Massachusetts restaurant, you need to understand of your commercial lease. It would be devestating if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it may advisable to have a discussion with your landlord regarding your plan to sell your Malden, Massachusetts restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financials, whether favorable or not, this will help them estimate the value of the Malden, Massachusetts restaurant.

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

The average time it takes to sell a Malden, Massachusetts restaurant is six months. Within the six months, there are many things you can do in order to increase your profit and cut various costs, and therefore strengthen the worth of your Malden, Massachusetts restaurant.

In addition, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This could aid you in deriving the overall value of your Malden, Massachusetts restaurant. When you understand the overall value this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Malden, Massachusetts restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the overall look of your Malden, Massachusetts restaurant does not look good to buyers, they might pass over immediately.

To prevent this from happening, all things in and out of your Malden, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking lot may help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are also simple items that would help create a unforgettable initial impression.

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

Faulty equipment could raise doubt about your financial capabilities and production capabilities. It can even lower the mood of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers concerning purchasing your Malden, Massachusetts restaurant.

#7 Search for Malden Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire a professional Malden, Massachusetts restaurant broker to help. A professional Malden, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this task by yourself, you will need to carry out proper advertising. You can list your Malden, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Malden, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Malden, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to complete the transaction. The paperwork will usually begin with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Working with an attorney is recommended to ensure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Malden, Massachusetts Restaurant Broker

While attempting to sell your Malden, Massachusetts restaurant on your own can be an exciting project, it could also be very risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business transaction, you need some level of expertise to stand above and against the cometitors while attempting to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Malden, Massachusetts restaurant broker is needed. A Malden, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Malden, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Malden, Massachusetts Restaurant Broker

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

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

Malden Zip Codes We Support: 02148