Ready to Sell Your West Springfield Town, Massachusetts Restaurant?

After years of labor, you have decided to sell your West Springfield Town, Massachusetts restaurant

Considering starting a new eatery, relocating, or even retiring. Regardless of the reason, selling your West Springfield Town, Massachusetts restaurant can be a lot more difficult than you may think. Thats because it takes thoughtful preparation and a solid game plan to successfully get out with enough proceeds for all the time you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You may either decide to hire a West Springfield Town, Massachusetts restaurant broker to guide you in selling your West Springfield Town, Massachusetts restaurant or do the task yourself. Whether considering selling your West Springfield Town, Massachusetts restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Put Together all Necessary Documentation

This is a necessary initial step to make when you start the process of marketing your West Springfield Town, Massachusetts restaurant.

The necessary documents 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 ready:

• Gather your assets
• Lease contract
• 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 has the expertise to help you in the sale of your West Springfield Town, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

You certainly do not want to show the majority of these documents to a possible buyer right away. But, you may want to have them ready because you will eventually require them during the sales process.

Also, compiling these documents allows you to see your West Springfield Town, Massachusetts restaurant through the lens of a buyer. This provides you a clear picture of the West Springfield Town, Massachusetts restaurant you're selling. Furthermore, it allows you to identify if there are any concerns you will have to take care of.

#2 Put Your Financial Records in Order

Your financial records are an important aspect of selling your West Springfield Town, Massachusetts restaurant. This is why you should strive to have your documents accurate and organized.

Offering your financial documents to prospective buyers could help clear any hesitations they might have concerning your West Springfield Town, Massachusetts restaurant.

The financial records could include:

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

In addition, ensure you have hard copies of all of these records. This could make it easier for you to send the information to possible buyers.

In addition, as a seller, you have to disclose information including debts, owed taxes, expected repairs, etc. Failure to inform a buyer regarding these things can create legal problems for you if a buyer later discovers these liabilities post sealing the deal.

#3 Gather the Information On Your Commercial Lease

While preparing to sell your West Springfield Town, Massachusetts restaurant, you need to review of your commercial lease. It could be devestating if, after securing a buyer, your lease hinders you from sealing the deal.

For this reason, it may advisable to talk to your landlord concerning your plan to sell your West Springfield Town, Massachusetts restaurant and to potentially extend your lease.

#4 Get An Appraisal For Your Restaurant

Buyers and investors could request an detailed evaluation of your financial records, whether favorable or not, this will help them estimate the true value of your West Springfield Town, Massachusetts restaurant.

This will be in your best interest to ensure that you increase sales and reduce expenses to build your cash flow starting to sell your West Springfield Town, Massachusetts restaurant.

The average time it takes to sell a West Springfield Town, Massachusetts restaurant is six months. Within the six months, there is a lot you can do to increase your profit and cut various costs, and thus increase the worth of your West Springfield Town, Massachusetts restaurant.

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

This could assist you in deriving the overall value of your West Springfield Town, Massachusetts restaurant. When you understand the overall worth this may help you settle on a selling price.

#5 Increase Curb Appeal

The appearance of your West Springfield Town, Massachusetts restaurant will go a great distance in helping you attract potential buyers. Alternatively, if the overall appearance of your West Springfield Town, Massachusetts restaurant does not look good to buyers, they might take a pass right off the bat.

To avoid this from happening, everything in and out of your West Springfield Town, Massachusetts restaurant must be cleaned and maintained. Landscaped and a clean parking area could help create appeal for potential buyers.

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

Furthermore, you should ensure all your equipment is in satisfactory condition. If your equipment is not functioning, it may send 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 status and production abilities. It could even dampen the excitment of your employees, and in response, 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 West Springfield Town, Massachusetts restaurant.

#7 Search for West Springfield Town Buyers

Looking for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced West Springfield Town, Massachusetts restaurant broker to help. A professional West Springfield Town, Massachusetts restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you make the decision to handle this task yourself, you will need to create appropriate advertising. You can market your West Springfield Town, Massachusetts restaurant on business websites and let your family and friends know about your plans to sell your West Springfield Town, Massachusetts restaurant.

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

#8 Be Ready

Regardless if you decide to sell your West Springfield Town, Massachusetts restaurant yourself, or with a a West Springfield Town, Massachusetts restaurant broker, you need to always be ready. Be prepared to show your West Springfield Town, Massachusetts restaurant to prospective buyers at all times.

You will never know when a buyer could visit your West Springfield Town, Massachusetts restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your West Springfield Town, Massachusetts Restaurant

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

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

This document includes details including the selling price of your West Springfield Town, Massachusetts restaurant, items and equipment and inventory value.

Choosing a West Springfield Town, Massachusetts Restaurant Broker

Although attempting to sell your West Springfield Town, Massachusetts restaurant on your own can be an exciting endeavor, it can also be very risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most out of the business deal, you need a higher level of experience in order to stand above and against your competition while trying to attract buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced West Springfield Town, Massachusetts restaurant broker is needed. A West Springfield Town, Massachusetts restaurant broker has the resources, experience and strategy needed to easily take on the task of selling your West Springfield Town, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

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

Contact a West Springfield Town, Massachusetts Restaurant Broker

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

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

West Springfield Town Zip Codes We Support: 01089, 01090