Time to Sell Your Randolph, Massachusetts Restaurant?

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

Contemplating opening a new Randolph, Massachusetts restaurant, moving, or maybe slowing down. No matter the reason, selling your Randolph, Massachusetts restaurant can be a lot more complicated than you may realize. This is because it takes careful preparation and a solid strategy to successfully exit with enough profit for all the sweat you may have put into it.

Necessary Actions to Take when Selling Your Restaurant

You can either think to hire a Randolph, Massachusetts restaurant broker to guide you in selling your Randolph, Massachusetts restaurant or do the task yourself. If you are considering selling your Randolph, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather the Business Paperwork

This is a necessary first step to make when you begin the process of marketing your Randolph, Massachusetts restaurant.

The required paperwork may vary from state to state--even in Massachusetts, but below is a list of a few general documents you may find helpful to have at hand:

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

Corbett Restaurant Group has the expertise to help you in the sale of your Randolph, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to show all these documents to a possible buyer day one. However, you should have them at hand because you will certainly require them during the sales process.

Also, compiling these documents lets you see your Randolph, Massachusetts restaurant through the lens of a buyer. It gives you a clear image of the Randolph, Massachusetts restaurant you are offering for sale. In addition, it allows you to identify whether there are any areas you'll have to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial part of selling your Randolph, Massachusetts restaurant. This is why you should strive to have these documents accurate and well organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they may have concerning your Randolph, Massachusetts restaurant.

Your financial documents can include:

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

Also, make sure you have hard copies of all of the documents. This can make it easier for you to transmit the documentation to possible buyers.

Also, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failure to inform a buyer about these items can create legal problems for you if a buyer later on discovers these liabilities after sealing the deal.

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Randolph, Massachusetts restaurant, you need to understand of your commercial lease. It could be disappointing if, after securing a buyer, your lease ends up preventing you from closing the deal.

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

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed analysis of your financials, whether favorable or not, this will help them estimate the value of the Randolph, Massachusetts restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to increase your cash flow planning to sell your Randolph, Massachusetts restaurant.

The average time it may take to sell a Randolph, Massachusetts restaurant is six months. Within those six months, there are several things you can do in order to increase your profit and reduce several costs, and thus increase the value of your Randolph, Massachusetts restaurant.

In addition, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may help you in coming up with the probable worth of your Randolph, Massachusetts restaurant. If you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Randolph, Massachusetts restaurant will go a long way in helping you attract potential buyers. Alternatively, if the overall look of your Randolph, Massachusetts restaurant does not appeal to buyers, they could pass over right off the bat.

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

Clean windows, polished handles and a clean floor are other small things that can help create a great first impression.

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

Non-functional equipment could raise doubt about your financial status and production capabilities. It could even lower the mood of your employees, which in turn, negatively affect your output and effect your profit and loss statement.

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

#7 look for Randolph Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may require that you hire a professional Randolph, Massachusetts restaurant broker to help. The professional Randolph, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to handle this project yourself, you will need to create proper advertising. You can list your Randolph, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Randolph, Massachusetts restaurant.

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

#8 Be Prepared

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

You'll never know when a buyer could visit your Randolph, Massachusetts restaurant. Some buyers might even come in as customers just to perform some research before reaching out to you.

#9 Sell Your Randolph, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important documentation to finalize the deal. The documentation often start with the Asset Purchase Agreement.

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

This agreement includes details including the selling price of your Randolph, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Randolph, Massachusetts Restaurant Broker

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

It's true, if you're looking to get the most from of the business transaction, you need a higher level of expertise to stand above and against the competition while trying to attract buyers.

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

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

Contact a Randolph, Massachusetts Restaurant Broker

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

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

Randolph Zip Codes We Support: 02368