Time to Sell Your Taunton, Massachusetts Restaurant?

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

Contemplating starting a new Taunton, Massachusetts restaurant, moving, or maybe slowing down. No matter the reason, selling a Taunton, Massachusetts restaurant can be way more difficult than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully get out with enough money for all the labor you’ve put into it.

Necessary Actions to Take in Selling Your Restaurant

You can either decide to contract with a Taunton, Massachusetts restaurant broker to guide you in selling your Taunton, Massachusetts restaurant or take on the task on your own. Whether considering selling your Taunton, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Put Together all Important Documentation

This is an important first step to make when you commence the process of offering your Taunton, Massachusetts restaurant.

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

• Gather your assets
• Lease document
• 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 expertise to help you in the market for sale of your Taunton, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

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

Also, putting together these documents allows you to see your Taunton, Massachusetts restaurant through the lens of a buyer. This provides you a clear image of the Taunton, Massachusetts restaurant you are selling. Furthermore, it helps you identify whether there are any loopholes you will have to take care of.

#2 Get Your Financial Documents in Order

Your financial records are a crucial detail of selling your Taunton, Massachusetts restaurant. That’s why you should strive to make your documents accurate and organized.

Offering your financial documents to prospective buyers may aid clear any hesitations they may have regarding your Taunton, Massachusetts restaurant.

Your 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 the records. This could make it easier for you to transmit the information to possible buyers.

In addition, as the seller, you must disclose information including debts, owed taxes, prospective repairs, etc. Failure to inform a buyer regarding these things may create legal issues for you if a buyer later on discovers these liabilities post completing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Taunton, Massachusetts restaurant, you need to understand 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 could be advisable to talk to your landlord regarding your plan to sell your Taunton, Massachusetts restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an detailed evaluation of your financials, whether favorable or not, this helps with estimating the true value of the Taunton, Massachusetts restaurant.

It is therefore in your best interest to ensure that you augment sales and make a reduction in your expenses to build your cash flow before trying to sell your Taunton, Massachusetts restaurant.

The average time it takes to sell a Taunton, Massachusetts restaurant is 6 months. Within the six months, there are many things you can do to strengthen your profit and slash various costs, and therefore strengthen the value of your Taunton, 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 could assist you in coming up with the overall value of your Taunton, Massachusetts restaurant. Understanding the overall value will help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Taunton, Massachusetts restaurant can go a long way in helping you bring potential buyers. Conversely, if the general look of your Taunton, Massachusetts restaurant does not look good to buyers, they could pass over immediately.

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

Spot-free windows, polished door handles and a neat floor are also easy things that can help create a memorable initial impression.

Additionally, you should make sure all the equipment is in top condition. If your equipment is not working properly, it could 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 capabilities and output abilities. It can even dampen the mood of your employees, and in turn, 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 purchasing your Taunton, Massachusetts restaurant.

#7 Search for Taunton Buyers

Searching for prospective buyers is time-consuming and can require specialized skills and a certain level of expertise. This may demand that you hire an experienced Taunton, Massachusetts restaurant broker to help. The professional Taunton, Massachusetts restaurant broker will have recommendations for saving time & money for attracting more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out appropriate advertising. You can market your Taunton, Massachusetts restaurant on business websites and tell family and friends about your intentions to market for sale your Taunton, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Taunton, Massachusetts Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary paperwork to finalize the deal. The paperwork will usually start with the Asset Purchase Agreement.

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

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

Choosing a Taunton, Massachusetts Restaurant Broker

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

The fact remains, in order for you to get the most from of the business transaction, you need some level of expertise to stand out against your competition while trying to attract buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Taunton, Massachusetts restaurant broker comes in. A Taunton, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of marketing for sale your Taunton, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Taunton, Massachusetts Restaurant Broker

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

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

Taunton Zip Codes We Support: 02718, 02767, 02780, 02783