Decided to Sell Your Walpole, Massachusetts Restaurant?

Following years of sweat equity, you have decided to sell your Walpole, Massachusetts restaurant

Contemplating opening a new eatery, relocating, or even slowing down. No matter the reason, selling a Walpole, Massachusetts restaurant can be way more difficult than you might think. This is because it takes thoughtful preparation and a solid strategy to successfully walk away with enough proceeds for all the time you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You can either think to hire a Walpole, Massachusetts restaurant broker to assist you in selling your Walpole, Massachusetts restaurant or do the task yourself. Whether considering selling your Walpole, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some steps you can follow.

#1 Gather the Necessary Paperwork

This is a necessary first step to make when you begin the process of marketing your Walpole, Massachusetts restaurant.

The necessary documents may vary from state to state--even in Massachusetts, but the following is a list of some 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 documents
• Architectural plan
• Financial statements and other important financial documents

Corbett Restaurant Group comes with expertise to help you in the sale of your Walpole, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You probably do not want to show the majority of these documents to a prospective buyer day one. But, you should have them ready because you will eventually need them during the sales process.

In addition, putting together these documents allows you to view your Walpole, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the Walpole, Massachusetts restaurant you're selling. Furthermore, it allows you to identify if there are any loopholes you'll have to take care of.

#2 Get Your Financials in Order

Your financial documents are a crucial part of selling your Walpole, Massachusetts restaurant. That’s why you should make it a priority to have your documents accurate and organized.

Showing your financial documents to possible buyers may assist to clear any hesitations they may have regarding your Walpole, Massachusetts restaurant.

The financial records can 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 these documents. This could make it easier for you to send the information to prospective buyers.

Also, as the seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer about these things could create legal issues for you if a buyer later discovers these ommissions after sealing the deal.

#3 Gather the Information On Your Commercial Lease

In the process of preparing to sell your Walpole, Massachusetts restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease prevents you from sealing the deal.

For this reason, it may advisable to talk to your landlord regarding your plan to sell your Walpole, Massachusetts restaurant and to potentially extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors could request an in-depth analysis of your financials, whether favorable or not, this helps them estimate the true value of your Walpole, Massachusetts restaurant.

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

The average time it takes to sell a Walpole, Massachusetts restaurant is six months. Within the six months, there are several things you can do to strengthen your profit and reduce several costs, and thus increase the value of your Walpole, Massachusetts restaurant.

Also, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This will aid you in estimating the overall worth of your Walpole, Massachusetts restaurant. When you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The appearance of your Walpole, Massachusetts restaurant could go a great distance in helping you attract potential buyers. Conversely, if the overall appearance of your Walpole, Massachusetts restaurant does not appeal to buyers, they could pass over right off the bat.

To avoid this from happening, everything in and out of your Walpole, Massachusetts restaurant must be cleaned and maintained. Manicured and a clean parking lot could help create curb appeal for potential buyers.

Spot-free windows, polished handles and a neat floor are other small items that can help create a unforgettable initial impression.

Additionally, you should make sure all your equipment is in satisfactory 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 may rouse doubt about your financial capabilities and output abilities. It could even lower the morale of your employees, which in response, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers concerning buying your Walpole, Massachusetts restaurant.

#7 Search for Walpole Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may demand that you hire an experienced Walpole, Massachusetts restaurant broker to help. A professional Walpole, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more potential buyers. However, if you make the decision to take on this task alone, you will need to create appropriate advertising. You can list your Walpole, Massachusetts restaurant on listing websites and tell family and friends about your plans to market for sale your Walpole, Massachusetts restaurant.

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

#8 Be Ready

Regardless if you decide to sell your Walpole, Massachusetts restaurant yourself, or through a Walpole, Massachusetts restaurant broker, you should always be ready. Be prepared to show your Walpole, Massachusetts restaurant to potential buyers at all times.

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

#9 Sell Your Walpole, Massachusetts Restaurant

This is the final action to take following a successful negotiation with a buyer. This stage involves the presentation of the important paperwork to complete the transaction. The paperwork often begin with the Asset Purchase Agreement.

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

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

Choosing a Walpole, Massachusetts Restaurant Broker

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

It's true, if you're looking to achieve the most out of the business transaction, you need some level of expertise to stand above and against the competition while trying to find buyers.

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

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

Contact a Walpole, Massachusetts Restaurant Broker

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

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

Walpole Zip Codes We Support: 02032, 02071, 02081