Right Time to Sell Your Marlborough, Massachusetts Restaurant?

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

Contemplating starting a different Marlborough, Massachusetts restaurant, relocating, or even retiring. No matter the reason, selling a Marlborough, Massachusetts restaurant can be way more complicated than you might realize. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough money for all the sweat you may have put into it.

Important Steps to Consider when Selling Your Restaurant

You can either think to hire a eatery broker to help you in selling your Marlborough, Massachusetts restaurant or take on the task on your own. If you are considering selling your Marlborough, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather all Business Paperwork

This is an important preparatory step to take when you commence the process of selling your Marlborough, Massachusetts restaurant.

The necessary paperwork may vary from state to state--even in Massachusetts, but below is a list of some generalized documents you may find helpful to have prepared:

• 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 has the experience to help you in the sale of your Marlborough, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to reveal all these documents to a possible buyer day one. But, you may want to have them ready because you will eventually require them during the sales process.

In addition, putting together these documents lets you see your Marlborough, Massachusetts restaurant through the lens of a buyer. It provides you a clear picture of the Marlborough, Massachusetts restaurant you are selling. Furthermore, it helps you identify whether there are any loopholes you will have to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial aspect of selling your Marlborough, Massachusetts restaurant. This is the reason you should make it a priority to have your documents accurate and well organized.

Offering your financial records to potential buyers may assist to clear any doubt they might have concerning your Marlborough, Massachusetts restaurant.

Your financial records may include:

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

Also, ensure you have hard copies of all of these records. This will make it easier for you to transmit the information to prospective buyers.

Also, as a seller, you have to disclose information including debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things can create legal problems for you if a buyer later on discovers these ommissions post sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Marlborough, Massachusetts restaurant, you need to review of your commercial lease. It could be devestating 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 Marlborough, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this will help them evaluate the value of the Marlborough, Massachusetts restaurant.

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

The estimated time it may take to sell a Marlborough, Massachusetts restaurant is six months. Within those six months, there is a lot you can do in order to strengthen your profit and slash several costs, and therefore increase the worth of your Marlborough, 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 may assist you in deriving the probable value of your Marlborough, Massachusetts restaurant. Understanding the overall value will help you come up with a selling price.

#5 Make Your Restaurant Look Good

The appearance of your Marlborough, Massachusetts restaurant could go a long way in helping you attract potential buyers. Alternatively, if the overall aesthetic of your Marlborough, Massachusetts restaurant does not look good to buyers, they could take a pass without consideration.

To avoid this from happening, all things in and out of your Marlborough, Massachusetts restaurant must be clean. Landscaped and a clean parking lot can help create appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other simple things that could help create a great initial impression.

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

Non-functional equipment also raises doubt about your financial situation and production abilities. It may even dampen the morale of your staff, and in response, 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 Marlborough, Massachusetts restaurant.

#7 Search for Marlborough Buyers

Looking for potential buyers can be time-consuming and often requires specific skills and a certain level of expertise. This may demand that you hire a professional Marlborough, Massachusetts restaurant broker to help. A professional Marlborough, Massachusetts restaurant broker will come with recommendations for saving time & money for drawing in more potential buyers. However, if you decide to handle this task by yourself, you will need to create appropriate advertising. You can market your Marlborough, Massachusetts restaurant on business websites and let your family and friends know about your intentions to market for sale your Marlborough, Massachusetts restaurant.

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

#8 Be Ready

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

You will never know when a buyer could visit your Marlborough, Massachusetts restaurant. Some buyers may even come in as customers just to perform some research before contacting you.

#9 Sell Your Marlborough, Massachusetts Restaurant

This is the last action to take after a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the transaction. The documentation often begin with the Asset Purchase Agreement.

You may need your attorney’s expertise in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

This document includes details such as the selling price of your Marlborough, Massachusetts restaurant, items and equipment and inventory value.

Choosing a Marlborough, Massachusetts Restaurant Broker

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

It's true, if you're looking to get the most from of the business deal, you need some level of expertise in order to stand out against the competition while attempting to find buyers.

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

With the assistance of a Marlborough, Massachusetts restaurant broker, you can focus your undivided attention on operating your Marlborough, Massachusetts restaurant and rest assured knowing that a professional is in charge of selling your Marlborough, Massachusetts restaurant.

Contact a Marlborough, Massachusetts Restaurant Broker

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

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

Marlborough Zip Codes We Support: 01752