Decided to Sell Your Saugus, Massachusetts Restaurant?

Following years of labor, you have made the decision sell your Saugus, Massachusetts restaurant

Considering starting a new Saugus, Massachusetts restaurant, moving, or even slowing down. No matter the reason, selling your Saugus, Massachusetts restaurant can be a lot more challenging than you may realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough profit for all the sweat you may have put into it.

Necessary Steps to Take when Selling Your Restaurant

You may either make the decision to hire a eatery broker to help you in selling your Saugus, Massachusetts restaurant or do the task on your own. Whether considering selling your Saugus, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together any Business Paperwork

This is an important initial step to take when you begin the process of marketing your Saugus, Massachusetts restaurant.

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

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

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

You probably do not want to reveal all these documents to a possible buyer right away. However, you should have them ready because you will certainly need them during the sales process.

In addition, compiling these documents allows you to view your Saugus, Massachusetts restaurant through the lens of a buyer. This gives you a clear picture of the Saugus, Massachusetts restaurant you're selling. Furthermore, it allows you to show whether there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Saugus, Massachusetts restaurant. This is the reason you should strive to have your documents accurate and organized.

Offering your financial documents to possible buyers could assist to clear any hesitations they may have regarding your Saugus, Massachusetts restaurant.

The financial records can include:

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

Also, ensure you have duplicate copies of all of the documents. This may make it easier for you to transmit the records to possible buyers.

In addition, as the seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer about these items may create legal issues for you if a buyer later discovers these liabilities post sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Saugus, 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 may advisable to talk to your landlord concerning your plan to sell your Saugus, Massachusetts restaurant and to potentially extend your lease.

#4 Appraise Your Restaurant

Buyers and investors may request an detailed analysis of your financial records, whether favorable or not, this helps them evaluate the value of your Saugus, Massachusetts restaurant.

It is therefore in your best interest to make sure that you increase sales and reduce expenses to increase your cash flow planning to sell your Saugus, Massachusetts restaurant.

The estimated time it may take to sell a Saugus, Massachusetts restaurant is six months. Within those six months, there is a lot you can do in order to increase your profit and reduce several costs, and therefore increase the worth of your Saugus, 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 estimate your assets.

This will aid you in deriving the overall worth of your Saugus, Massachusetts restaurant. If you understand the overall value this could help you settle on a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Saugus, Massachusetts restaurant will go a great distance in helping you attract potential buyers. Conversely, if the overall look of your Saugus, Massachusetts restaurant does not appeal to buyers, they might take a pass immediately.

To avoid this from happening, everything in and out of your Saugus, Massachusetts restaurant must be clean. Manicured and a clean parking lot can help create curb appeal for prospective buyers.

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

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

Non-functional equipment may rouse doubt about your financial status and output capabilities. It could even lower the mood of your staff, and in response, negatively affect your output and effect your profit and loss statement.

You should look credible in order to build the confidence of prospective buyers regarding buying your Saugus, Massachusetts restaurant.

#7 look for Saugus Buyers

Looking for prospective buyers is time-consuming and can require specialized skills and a certain level of experience. This may require that you hire a professional Saugus, Massachusetts restaurant broker to help. A professional Saugus, Massachusetts restaurant broker will come with recommendations for saving time & money for attracting more prospective buyers. However, if you make the decision to handle this project yourself, you will need to carry out proper advertising. You can offer your Saugus, Massachusetts restaurant on business websites and tell family and friends about your plans to market for sale your Saugus, Massachusetts restaurant.

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

#8 Be Ready

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

You'll never know when a buyer could visit your Saugus, Massachusetts restaurant. Some buyers may even come in as customers in order to carry out some research before contacting you.

#9 Sell Your Saugus, Massachusetts Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the contract. The paperwork will usually begin with the Asset Purchase Agreement.

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

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

Choosing a Saugus, Massachusetts Restaurant Broker

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

The fact remains, in order for you to achieve the most out of the business deal, you need a higher level of expertise in order to stand above and against the cometitors while attempting to find buyers.

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

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

Contact a Saugus, Massachusetts Restaurant Broker

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

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

Saugus Zip Codes We Support: 01906