Right Time to Sell Your Sandwich, Massachusetts Restaurant?

After years of sweat equity, you have decided to sell your Sandwich, Massachusetts restaurant

Contemplating starting a different Sandwich, Massachusetts restaurant, moving, or even retiring. Regardless of the reason, selling your Sandwich, Massachusetts restaurant can be a lot more difficult than you may realize. This is because it takes thoughtful preparation and a solid game plan to successfully get out with enough money for all the time you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either think to contract with a Sandwich, Massachusetts restaurant broker to guide you in selling your Sandwich, Massachusetts restaurant or do the task on your own. If you are considering selling your Sandwich, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Business Paperwork

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

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

• A list of 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 comes with experience to help you in the market for sale of your Sandwich, Massachusetts restaurant. Call today for a no-obligation business review at (888) 266-5182.

It's probably best not to show all these documents to a possible buyer right away. But, you should have them at hand because you will certainly need them during the sales process.

Also, compiling these documents allows you to see your Sandwich, Massachusetts restaurant through the lens of a buyer. This gives you a clear image of the Sandwich, Massachusetts restaurant you are selling. Furthermore, it allows you to show if there are any areas you'll have to address.

#2 Put Your Financials in Order

Your financial records are an important aspect of selling your Sandwich, Massachusetts restaurant. This is the reason you should strive to make these documents accurate and organized.

Offering your financial documents to possible buyers may assist to clear any hesitations they might have concerning your Sandwich, Massachusetts restaurant.

The financial documents can include:

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

In addition, make sure you have hard copies of all of these records. This will make it easier for you to transmit the documentation to potential buyers.

Also, as the seller, you must disclose information including debts, owed taxes, planned repairs, etc. Failure to inform a buyer about these things could create legal problems for you if a buyer later discovers these ommissions post signing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Sandwich, 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 could be advisable to talk to your landlord concerning your plan to sell your Sandwich, Massachusetts restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth analysis of your financials, whether favorable or not, this will help them estimate the true value of the Sandwich, Massachusetts restaurant.

It is therefore in your best interest to ensure that you increase sales and reduce expenses to build up your cash flow starting to sell your Sandwich, Massachusetts restaurant.

The average time it may take to sell a Sandwich, Massachusetts restaurant is 6 months. Within those six months, there is a lot you can do to strengthen your profit and slash various costs, and therefore strengthen the worth of your Sandwich, 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 assist you in estimating the overall worth of your Sandwich, Massachusetts restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Sandwich, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Conversely, if the general curb appeal of your Sandwich, Massachusetts restaurant does not look good to buyers, they might pass over right off the bat.

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

Clean windows, polished door handles and a presentable floor are other easy things that could help create a great first impression.

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

Non-functional equipment can raise doubt about your financial status and output abilities. It may even dampen the excitment of your staff, which in response, 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 Sandwich, Massachusetts restaurant.

#7 look for Sandwich Buyers

Looking for prospective buyers is time-consuming and can require specific skills and a certain level of expertise. This may demand that you hire a professional Sandwich, Massachusetts restaurant broker to help. A professional Sandwich, Massachusetts restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you make the decision to take on this project yourself, you will need to create appropriate advertising. You can offer your Sandwich, Massachusetts restaurant on business websites and let your family and friends know about your plans to market for sale your Sandwich, Massachusetts restaurant.

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

#8 Be Prepared

Whether you decide to sell your Sandwich, Massachusetts restaurant yourself, or with a a Sandwich, Massachusetts restaurant broker, you should always be ready. Be prepared to show your Sandwich, Massachusetts restaurant to potential buyers at all times.

You'll never know when a buyer will walk into your Sandwich, Massachusetts restaurant. Some buyers may even visit as customers just to perform some research before contacting you.

#9 Sell Your Sandwich, 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 finalize the transaction. The documentation will usually start with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Involving an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the contract.

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

Choosing a Sandwich, Massachusetts Restaurant Broker

Although trying to sell your Sandwich, Massachusetts restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to achieve the most from of the business transaction, you need a higher level of expertise in order to stand out against your competition while trying to find buyers.

Experience is also vital during negotiations with potential buyers. This is where an experienced Sandwich, Massachusetts restaurant broker is recommended. A Sandwich, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of selling your Sandwich, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and at a great price.

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

Contact a Sandwich, Massachusetts Restaurant Broker

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

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

Sandwich Zip Codes We Support: 02537, 02542, 02562, 02563, 02644, 02649