Ready to Sell Your Plymouth, Massachusetts Restaurant?

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

Considering opening a different Plymouth, Massachusetts restaurant, relocating, or maybe retiring. No matter the reason, selling your Plymouth, Massachusetts restaurant can be way more difficult than you might think. Thats because it takes careful preparation and a solid strategy to successfully exit with enough proceeds for all the labor you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You can either think to hire a eatery broker to assist you in selling your Plymouth, Massachusetts restaurant or take on the task yourself. If you are considering selling your Plymouth, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather the Important Documentation

This is a necessary preparatory step to make when you begin the process of offering your Plymouth, Massachusetts restaurant.

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

• Gather your assets
• Lease documentation
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection records
• Architectural plans
• Financial statements and other important financial documents

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

It's probably smart not to reveal all these documents to a possible buyer right away. But, you may want to have them on hand because you will certainly require them during the sales process.

Also, compiling these documents allows you to see your Plymouth, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Plymouth, Massachusetts restaurant you are selling. In addition, it helps you show if there are any concerns you will need to address.

#2 Get Your Financials in Order

Your financial documents are a crucial aspect of selling your Plymouth, Massachusetts restaurant. This is why you should make an effort to have your documents accurate and organized.

Showing your financial records to potential buyers could help clear any hesitations they may have regarding your Plymouth, Massachusetts restaurant.

The financial records may include:

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

In addition, ensure you have soft copies of all of these documents. This can make it easier for you to transmit the documentation to potential buyers.

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

#3 Gather the Details of Your Commercial Lease

While preparing to sell your Plymouth, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be devestating if, after securing a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Plymouth, Massachusetts restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed analysis of your financial records, whether favorable or not, this helps with estimating the true value of your Plymouth, Massachusetts restaurant.

This will be in your best interest to make sure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Plymouth, Massachusetts restaurant.

The estimated time it takes to sell a Plymouth, Massachusetts restaurant is 6 months. Within those six months, there are several things you can do to increase your profit and cut various costs, and therefore increase the value of your Plymouth, Massachusetts restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may assist you in estimating the probable worth of your Plymouth, Massachusetts restaurant. Understanding the overall value will help you settle on a selling price.

#5 Make Your Restaurant Look Good

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

To prevent this from happening, all things in and out of your Plymouth, Massachusetts restaurant must be clean. Landscaping and a clean parking area could help create curb appeal for prospective buyers.

Clean windows, polished door handles and a presentable floor are also easy items that can help create a unforgettable first impression.

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

Faulty equipment also raises doubt about your financial status and output abilities. It can even dampen the morale of your staff, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Plymouth, Massachusetts restaurant.

#7 Search for Plymouth Buyers

Searching for prospective buyers is time-consuming and often requires specific skills and a certain level of expertise. This may require that you hire an experienced Plymouth, Massachusetts restaurant broker to help. The professional Plymouth, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project alone, you will need to create proper advertising. You can list your Plymouth, Massachusetts restaurant on business websites and tell family and friends about your intentions to sell your Plymouth, Massachusetts restaurant.

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

#8 Be Ready

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

You will never know when a buyer will walk into your Plymouth, Massachusetts restaurant. Some buyers might even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Plymouth, Massachusetts Restaurant

This is the remaining 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 likely start with the Asset Purchase Agreement.

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

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

Choosing a Plymouth, Massachusetts Restaurant Broker

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

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

Experience is also vital during negotiations with potential buyers. This is where an experienced Plymouth, Massachusetts restaurant broker is needed. A Plymouth, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Plymouth, Massachusetts restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

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

Contact a Plymouth, Massachusetts Restaurant Broker

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

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

Plymouth Zip Codes We Support: 02345, 02360, 02361, 02362, 02366, 02381