Decided to Sell Your Stoughton, Massachusetts Restaurant?

After years of sweat equity, you have made the decision sell your Stoughton, Massachusetts restaurant

Considering starting a different Stoughton, Massachusetts restaurant, moving, or even retiring. Regardless of the reason, selling your Stoughton, Massachusetts restaurant can be a lot more challenging than you might realize. Thats because it takes careful preparation and a solid game plan to successfully get out with enough money for all the sweat you’ve put into it.

Important Actions to Take in Selling Your Restaurant

You may either decide to contract with a Stoughton, Massachusetts restaurant broker to guide you in selling your Stoughton, Massachusetts restaurant or take on the task on your own. If you are considering selling your Stoughton, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather any Necessary Documentation

This is an important first step to take when you commence the process of marketing your Stoughton, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but the following is a list of some generalized documents you may be requierd to have at hand:

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

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

You probably do not want to reveal the majority of these documents to a possible buyer day one. But, you may want to have them ready because you will certainly require them during the sales process.

Also, compiling these documents allows you to see your Stoughton, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Stoughton, Massachusetts restaurant you're selling. In addition, it helps you show whether there are any areas you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are an important part of selling your Stoughton, Massachusetts restaurant. This is why you should make it a priority to have your documents complete and organized.

Showing your financial documents to possible buyers could aid clear any doubt they might have regarding your Stoughton, Massachusetts restaurant.

Your financial records can 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 will make it easier for you to transmit the records to prospective buyers.

In addition, as a seller, you have to disclose information such as debts, owed taxes, planned repairs, etc. Failing to inform a buyer regarding these things could create legal issues for you if a buyer later on discovers these liabilities after completing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Stoughton, Massachusetts restaurant, you need to review of your commercial lease. It could be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

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

#4 Have Your Restauarant Appraised

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

This will be in your best interest to ensure that you augment sales and reduce expenses to build your cash flow before trying to sell your Stoughton, Massachusetts restaurant.

The average time it may take to sell a Stoughton, Massachusetts restaurant is six months. Within the six months, there is a lot you can do to increase your profit and slash various costs, and therefore increase the worth of your Stoughton, Massachusetts restaurant.

Also, 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 aid you in coming up with the probable value of your Stoughton, Massachusetts restaurant. If you understand the overall value this may help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Stoughton, Massachusetts restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the overall curb appeal of your Stoughton, Massachusetts restaurant does not appeal to buyers, they could pass over without a second look.

To prevent this from happening, all things in and out of your Stoughton, Massachusetts restaurant must be cleaned and maintained. Manicured and a clean parking area could help create appeal for potential buyers.

Clean windows, polished handles and a clean floor are also easy items that would help create a unforgettable initial impression.

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

Non-functional equipment could raise doubt about your financial status and production abilities. It can even lower the morale of your staff, which 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 concerning purchasing your Stoughton, Massachusetts restaurant.

#7 Search for Stoughton Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of expertise. This may demand that you hire an experienced Stoughton, Massachusetts restaurant broker to help. A professional Stoughton, Massachusetts restaurant broker will come with recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project yourself, you will need to create proper advertising. You can show your Stoughton, Massachusetts restaurant on business websites and let your family and friends know about your intentions to market for sale your Stoughton, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Stoughton, Massachusetts Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the deal. The paperwork often start with the Asset Purchase Agreement.

You should have your attorney’s help in drafting this document. Working with an attorney helps to ensure the Asset Purchase Agreement covers every detail of the contract.

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

Choosing a Stoughton, Massachusetts Restaurant Broker

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

The fact remains, in order for you to achieve the most out of the business transaction, you need some 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 Stoughton, Massachusetts restaurant broker is recommended. A Stoughton, Massachusetts restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Stoughton, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and get you a higher sale value.

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

Contact a Stoughton, Massachusetts Restaurant Broker

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

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

Stoughton Zip Codes We Support: 02072