Ready to Sell Your Tewksbury, Massachusetts Restaurant?

Following years of hard work, you have decided to sell your Tewksbury, Massachusetts restaurant

Contemplating opening a different eatery, moving, or even retiring. Regardless of the reason, selling a Tewksbury, Massachusetts restaurant can be a lot more challenging than you may think. Thats because it takes thoughtful preparation and a solid strategy to successfully walk away with enough profit for all the sweat you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You may either decide to hire a eatery broker to help you in selling your Tewksbury, Massachusetts restaurant or do the task yourself. Whether considering selling your Tewksbury, Massachusetts restaurant on your own for the first time or with a restauarant broker, you can expect these steps.

#1 Gather any Important Paperwork

This is an important first step to make when you start the process of selling your Tewksbury, Massachusetts restaurant.

The required paperwork may vary from state to state--even in Massachusetts, but the following is a list of some general documents you may find helpful to have on you:

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

Corbett Restaurant Group comes with experience to assist you in the market for sale of your Tewksbury, Massachusetts restaurant. Call today for a no strings attached consultation at (888) 266-5182.

It's probably smart not to show all these documents to a potrntial buyer day one. However, you may want to have them ready because you will eventually need them during the sales process.

In addition, compiling these documents lets you view your Tewksbury, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Tewksbury, Massachusetts restaurant you are offering for sale. Furthermore, it helps you show if there are any loopholes you will need to take care of.

#2 Get Your Financial Records in Order

Your financial records are a crucial detail of selling your Tewksbury, Massachusetts restaurant. This is the reason you should make it a priority to make these documents accurate and organized.

Showing your financial records to possible buyers could assist to clear any doubt they may have concerning your Tewksbury, Massachusetts restaurant.

These financial documents may 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 will make it easier for you to send the records to potential buyers.

Likewise, as the seller, you must disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer about these things can create legal problems for you if a buyer later on discovers these liabilities after closing the deal.

#3 Organize the Information On Your Commercial Lease

While preparing to sell your Tewksbury, Massachusetts restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after securing a buyer, your lease prevents you from closing the deal.

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

#4 Appraise Your Restaurant

Buyers and investors may request an in-depth evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of your Tewksbury, Massachusetts restaurant.

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

The average time it takes to sell a Tewksbury, Massachusetts restaurant is 6 months. Within those six months, there are many things you can do in order to strengthen your profit and slash various costs, and thus increase the value of your Tewksbury, Massachusetts restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually estimate your assets.

This may aid you in estimating the overall value of your Tewksbury, Massachusetts restaurant. When you understand the overall worth this may help you come up with a selling price.

#5 Increase Curb Appeal

The appearance of your Tewksbury, Massachusetts restaurant will go a long way in helping you attract potential buyers. Alternatively, if the overall appearance of your Tewksbury, Massachusetts restaurant does not appeal to buyers, they might take a pass immediately.

To avoid this from happening, all things in and out of your Tewksbury, Massachusetts restaurant must be clean. Manicured and a clean parking area can help create appeal for prospective buyers.

Spot-free windows, polished handles and a clean floor are also simple items that could help create a unforgettable first impression.

Additionally, you should make sure that all the equipment is in satisfactory condition. If your equipment is not working properly, it might send the message that you are in a hurry to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial status and production abilities. It could even dampen the excitment of your employees, 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 Tewksbury, Massachusetts restaurant.

#7 Search for Tewksbury 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 Tewksbury, Massachusetts restaurant broker to help. A professional Tewksbury, Massachusetts restaurant broker will come with recommendations for saving time for attracting more prospective buyers. However, if you make the decision to take on this project by yourself, you will need to create proper advertising. You can show your Tewksbury, Massachusetts restaurant on listing websites and let your family and friends know about your intentions to sell your Tewksbury, Massachusetts restaurant.

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

#8 Be Ready

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

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

#9 Sell Your Tewksbury, Massachusetts Restaurant

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

You should have your attorney’s help in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every aspect of the deal.

This agreement includes details such as the selling price of your Tewksbury, Massachusetts restaurant, assets and equipment and inventory value.

Choosing a Tewksbury, Massachusetts Restaurant Broker

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

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

Experience is also vital during negotiations with potential buyers. This is where an experienced Tewksbury, Massachusetts restaurant broker is needed. A Tewksbury, Massachusetts restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Tewksbury, Massachusetts restaurant. Additionally, a restaurant broker can help you sell faster and for more money.

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

Contact a Tewksbury, Massachusetts Restaurant Broker

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

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

Tewksbury Zip Codes We Support: 01862, 01876