Right Time to Sell Your Marshfield, Massachusetts Restaurant?

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

Considering opening a different Marshfield, Massachusetts restaurant, moving, or maybe retiring. No matter the reason, selling a Marshfield, Massachusetts restaurant can be a lot more challenging than you may think. This is because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the labor you’ve put into it.

Important Steps to Take in Selling Your Restaurant

You may either make the decision to hire a eatery broker to assist you in selling your Marshfield, Massachusetts restaurant or do the task on your own. Whether considering selling your Marshfield, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can follow.

#1 Put Together any Necessary Paperwork

This is an important initial step to take when you start the process of selling your Marshfield, Massachusetts restaurant.

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

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

Corbett Restaurant Group has the experience to assist you in the sale of your Marshfield, Massachusetts restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to reveal all these documents to a potrntial buyer day one. However, you should have them on hand because you will certainly require them during the sales process.

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

#2 Put Your Financial Documents in Order

Your financial records are an important aspect of selling your Marshfield, Massachusetts restaurant. This is why you should make it a priority to make these documents accurate and well organized.

Showing your financial records to potential buyers could assist to clear any hesitations they might have regarding your Marshfield, Massachusetts restaurant.

These financial records may include:

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

In addition, make sure you have duplicate copies of all of the documents. This can make it easier for you to send the information to possible buyers.

In addition, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer about these items can create legal issues for you if a buyer later on discovers these ommissions after closing the deal.

#3 Put Together the Details of Your Commercial Lease

In the process of preparing to sell your Marshfield, Massachusetts restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your Marshfield, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors will often request an in-depth evaluation of your financials, whether favorable or not, this helps with estimating the true value of your Marshfield, Massachusetts restaurant.

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

The average time it takes to sell a Marshfield, Massachusetts restaurant is 6 months. Within the six months, there are several things you can do to strengthen your profit and reduce several costs, and thus strengthen the value of your Marshfield, 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 value your assets.

This will help you in estimating the probable value of your Marshfield, Massachusetts restaurant. If you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The first impression of your Marshfield, Massachusetts restaurant could go a long way in helping you attract potential buyers. Alternatively, if the general appearance of your Marshfield, Massachusetts restaurant does not look good to buyers, they likely pass over without a second look.

To prevent this from happening, everything in and out of your Marshfield, Massachusetts restaurant must be cleaned and maintained. Landscaping and a clean parking lot could help create appeal for prospective buyers.

Clean windows, polished door handles and a clean floor are other simple items that would help create a memorable first impression.

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

Non-functional equipment also raises doubt about your financial status and output capabilities. It may even lower the excitment of your employees, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your Marshfield, Massachusetts restaurant.

#7 look for Marshfield Buyers

Marketing to potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may require that you hire an experienced Marshfield, Massachusetts restaurant broker to help. A professional Marshfield, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this project yourself, you will need to carry out proper advertising. You can market your Marshfield, Massachusetts restaurant on business websites and let your family and friends know about your plans to market for sale your Marshfield, Massachusetts restaurant.

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

#8 Be Ready

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

You will never know when a buyer will visit your Marshfield, Massachusetts restaurant. Some buyers might even come in as customers in order to perform some research before reaching out to you.

#9 Sell Your Marshfield, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage includes the presentation of the important documentation to complete the transaction. The documentation will usually start with the Asset Purchase Agreement.

You should have your attorney’s assistance in drafting this document. Involving an attorney is recommended to ensure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Marshfield, Massachusetts Restaurant Broker

While attempting to sell your Marshfield, Massachusetts restaurant on your own can be an exhilarating endeavor, it could also be quite risky, especially for first-timers.

It's true, in order for you to get the most from of the business transaction, you need a higher level of experience in order to stand above and against the competition while trying to find buyers.

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

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

Contact a Marshfield, Massachusetts Restaurant Broker

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

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

Marshfield Zip Codes We Support: 02020, 02041, 02050, 02051, 02059, 02065