Time to Sell Your Wellesley, Massachusetts Restaurant?

After years of labor, you have decided to sell your Wellesley, Massachusetts restaurant

Contemplating starting a different eatery, moving, or even slowing down. Regardless of the reason, selling your Wellesley, Massachusetts restaurant can be way more challenging than you might think. Thats because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the sweat you’ve put into it.

Important Steps to Consider in Selling Your Restaurant

You may either make the decision to hire a eatery broker to guide you in selling your Wellesley, Massachusetts restaurant or do the task on your own. Whether considering selling your Wellesley, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Necessary Paperwork

This is a necessary initial step to take when you start the process of offering your Wellesley, Massachusetts restaurant.

The required paperwork may vary from state to state--even in Massachusetts, but below is a list of some generalized documents you may be requierd to have on you:

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

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

You probably do not want to show all these documents to a potrntial buyer first day. However, you should have them at hand because you will eventually require them during the sales process.

Also, compiling these documents lets you view your Wellesley, Massachusetts restaurant through the lens of a buyer. It provides you a clear image of the Wellesley, Massachusetts restaurant you are offering for sale. In addition, it allows you to identify if there are any loopholes you will have to take care of.

#2 Put Your Financial Records in Order

Your financial documents are a crucial part of selling your Wellesley, Massachusetts restaurant. This is why you should make an effort to make your documents accurate and well organized.

Showing your financial documents to potential buyers could aid clear any hesitations they might have concerning your Wellesley, Massachusetts restaurant.

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

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

#3 Put Together the Information On Your Commercial Lease

While preparing to sell your Wellesley, Massachusetts restaurant, you must find out the terms 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 could be advisable to have a discussion with your landlord regarding your plan to sell your Wellesley, Massachusetts restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will most likely request an in-depth analysis of your financial records, whether favorable or not, this will help them estimate the value of your Wellesley, Massachusetts restaurant.

This will be in your best interest to make sure that you increase sales and reduce expenses to build up your cash flow planning to sell your Wellesley, Massachusetts restaurant.

The estimated time it takes to sell a Wellesley, Massachusetts restaurant is six months. Within the six months, there are many things you can do in order to strengthen your profit and slash several costs, and therefore strengthen the worth of your Wellesley, Massachusetts restaurant.

In addition, when it comes to your assets, you'll 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 worth of your Wellesley, Massachusetts restaurant. If you understand the overall worth this could help you settle on a selling price.

#5 Increase Curb Appeal

The first impression of your Wellesley, Massachusetts restaurant could go a long way in helping you bring potential buyers. Alternatively, if the general curb appeal of your Wellesley, Massachusetts restaurant does not look good to buyers, they might pass over without consideration.

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

Clean windows, polished door handles and a presentable floor are also simple things that can help create a unforgettable initial impression.

Furthermore, you should ensure all the equipment is in top condition. If your equipment is not working, it could send the message that you're in a hurry to pass a bad deal to the buyer.

Faulty equipment may rouse doubt about your financial situation and production abilities. It may even dampen the morale of your staff, and in turn, negatively affect your output and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers concerning buying your Wellesley, Massachusetts restaurant.

#7 Search for Wellesley Buyers

Marketing to prospective buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire a professional Wellesley, Massachusetts restaurant broker to help. A professional Wellesley, Massachusetts restaurant broker will offer recommendations for saving time & money for attracting more prospective buyers. However, if you decide to take on this project alone, you will need to create appropriate advertising. You can list your Wellesley, Massachusetts restaurant on business websites and tell family and friends about your plans to sell your Wellesley, Massachusetts restaurant.

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

#8 Be Prepared

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

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

#9 Sell Your Wellesley, Massachusetts Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary documentation to finalize the deal. The paperwork often begin with the Asset Purchase Agreement.

You should have your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every detail of the deal.

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

Choosing a Wellesley, Massachusetts Restaurant Broker

Although attempting to sell your Wellesley, Massachusetts restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first-timers.

It's true, if you're looking to achieve the most from of the business transaction, you need some level of experience in order to stand above and against your cometitors while attempting to find buyers.

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

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

Contact a Wellesley, Massachusetts Restaurant Broker

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

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

Wellesley Zip Codes We Support: 02457, 02481, 02482