Ready to Sell Your Watertown, Massachusetts Restaurant?

After years of hard work, you have made the decision sell your Watertown, Massachusetts restaurant

Contemplating opening a different Watertown, Massachusetts restaurant, relocating, or maybe slowing down. No matter the reason, selling a Watertown, Massachusetts restaurant can be way more difficult than you may think. This is because it takes careful preparation and a solid game plan to successfully exit with enough profit for all the labor you’ve put into it.

Important Actions to Consider when Selling Your Restaurant

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

#1 Put Together the Important Paperwork

This is a necessary preparatory step to make when you start the process of offering your Watertown, Massachusetts restaurant.

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

• A list of your assets
• Lease documentation
• 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 assist you in the market for sale of your Watertown, Massachusetts restaurant. Call today for a no strings attached business review at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer right away. However, you should have them at hand because you will certainly need them during the sales process.

In addition, putting together these documents lets you see your Watertown, Massachusetts restaurant through the lens of a buyer. This gives you a clear picture of the Watertown, Massachusetts restaurant you're selling. In addition, it allows you to show if there are any concerns you will have to address.

#2 Put Your Financials in Order

Your financial records are an important detail of selling your Watertown, Massachusetts restaurant. This is the reason you should strive to make your documents accurate and well organized.

Offering your financial records to potential buyers could help clear any hesitations they might have regarding your Watertown, Massachusetts restaurant.

These financial documents may include:

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

In addition, make sure you have hard copies of all of these documents. This could make it easier for you to transmit the information to prospective buyers.

Likewise, as a seller, you must disclose information such as debts, owed taxes, deferred repairs, etc. Failing to inform a buyer regarding these items can create legal problems for you if a buyer later discovers these ommissions post sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your Watertown, Massachusetts restaurant, you need to review of your commercial lease. It could be disappointing if, after attracting a buyer, your lease ends up preventing you from sealing the deal.

For this reason, it may advisable to have a discussion with your landlord concerning your plan to sell your Watertown, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

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

It is therefore in your best interest to make sure that you augment sales and make a reduction in your expenses to build up your cash flow starting to sell your Watertown, Massachusetts restaurant.

The estimated time it takes to sell a Watertown, Massachusetts restaurant is 6 months. Within those six months, there are many things you can do to increase your profit and cut various costs, and therefore strengthen the value of your Watertown, Massachusetts restaurant.

Also, when it comes to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s best to individually value your assets.

This will assist you in estimating the overall value of your Watertown, Massachusetts restaurant. If you understand the overall worth this may help you determine a selling price.

#5 Increase Curb Appeal

The first impression of your Watertown, Massachusetts restaurant can go a long way in helping you bring potential buyers. Alternatively, if the general look of your Watertown, Massachusetts restaurant does not appeal to buyers, they could take a pass right off the bat.

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

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

Additionally, you should ensure that all your equipment is in satisfactory condition. If your equipment is not working, it may convey the message that you're in a hurry to pass a bad deal to the buyer.

Non-functional equipment can raise doubt about your financial situation and output capabilities. It can even lower the mood of your employees, which in turn, negatively affect your productivity and effect your profit and loss statement.

You should look credible in order to build the confidence of potential buyers regarding purchasing your Watertown, Massachusetts restaurant.

#7 look for Watertown Buyers

Marketing to potential buyers is time-consuming and can require specialized skills and a certain level of expertise. This may require that you hire a professional Watertown, Massachusetts restaurant broker to help. The professional Watertown, Massachusetts restaurant broker will have recommendations for saving time for attracting more potential buyers. However, if you make the decision to handle this task alone, you will need to create appropriate advertising. You can show your Watertown, Massachusetts restaurant on business websites and let your family and friends know about your plans to market for sale your Watertown, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Watertown, Massachusetts Restaurant

This is the last action to take following a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to complete the deal. The documentation often start with the Asset Purchase Agreement.

You may need your attorney’s assistance in drafting this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the deal.

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

Choosing a Watertown, Massachusetts Restaurant Broker

Although trying to sell your Watertown, 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 out of the business deal, you need some level of experience to stand above and against your competition while attempting to attract buyers.

Experience is also vital during negotiations with potential buyers. This is when an experienced Watertown, Massachusetts restaurant broker is needed. A Watertown, Massachusetts restaurant broker has the resources, expertise and strategy needed to easily take on the task of marketing for sale your Watertown, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and at a great price.

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

Contact a Watertown, Massachusetts Restaurant Broker

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

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

Watertown Zip Codes We Support: 02471, 02472, 02477