Time to Sell Your Weymouth, Massachusetts Restaurant?

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

Considering starting a different eatery, relocating, or maybe slowing down. No matter the reason, selling your Weymouth, Massachusetts restaurant can be way more complicated than you may realize. This is because it takes thoughtful preparation and a solid game plan to successfully walk away with enough proceeds for all the labor you may have put into it.

Necessary Steps to Take in Selling Your Restaurant

You can either think to hire a eatery broker to help you in selling your Weymouth, Massachusetts restaurant or do the task yourself. If you are considering selling your Weymouth, Massachusetts restaurant on your own for the first time or with a restauarant broker, here are some tasks you can expect.

#1 Gather any Important Paperwork

This is an important initial step to make when you begin the process of offering your Weymouth, 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 find helpful to have prepared:

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

Corbett Restaurant Group has the experience to assist you in the market for sale of your Weymouth, Massachusetts restaurant. Call today for a no-obligation consultation at (888) 266-5182.

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

Also, compiling these documents allows you to see your Weymouth, Massachusetts restaurant through the lens of a buyer. It provides you a clear image of the Weymouth, Massachusetts restaurant you're selling. In addition, it allows you to show if there are any concerns you will have to address.

#2 Get Your Financial Records in Order

Your financial documents are a crucial detail of selling your Weymouth, Massachusetts restaurant. This is the reason you should make an effort to make these documents complete and organized.

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

The financial records could include:

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

Also, ensure you have duplicate copies of all of these documents. This could make it easier for you to send the information to potential buyers.

In addition, as a 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 on discovers these liabilities after closing the deal.

#3 Organize the Information On Your Commercial Lease

In the process of preparing to sell your Weymouth, Massachusetts restaurant, you must find out the terms of your commercial lease. It would be disappointing if, after attracting a buyer, your lease ends up preventing you from closing the deal.

For this reason, it could be advisable to talk to your landlord regarding your plan to sell your Weymouth, Massachusetts restaurant and to possibly extend your lease.

#4 Get An Appraisal For Your Restaurant

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

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

The estimated time it takes to sell a Weymouth, Massachusetts restaurant is six months. Within the six months, there are several things you can do in order to strengthen your profit and reduce various costs, and thus increase the worth of your Weymouth, 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 estimate your assets.

This could assist you in coming up with the overall worth of your Weymouth, Massachusetts restaurant. Understanding the overall value will help you settle on a selling price.

#5 Increase Curb Appeal

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

To prevent this from happening, all things in and out of your Weymouth, Massachusetts restaurant must be clean. Manicured and a clean parking area may help create curb appeal for potential buyers.

Clean windows, polished handles and a clean floor are also easy items that can help create a great first impression.

Furthermore, you should make sure all the equipment is in satisfactory condition. If your equipment is not functioning, it could send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment may rouse doubt about your financial status and output abilities. It may even dampen the morale of your staff, 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 prospective buyers regarding purchasing your Weymouth, Massachusetts restaurant.

#7 Search for Weymouth Buyers

Searching for potential buyers is time-consuming and often requires specific skills and a certain level of experience. This may demand that you hire a professional Weymouth, Massachusetts restaurant broker to help. A professional Weymouth, Massachusetts restaurant broker will have recommendations for saving time for drawing in more potential buyers. However, if you decide to handle this project by yourself, you will need to carry out proper advertising. You can list your Weymouth, Massachusetts restaurant on listing websites and tell family and friends about your plans to sell your Weymouth, Massachusetts restaurant.

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

#8 Be Ready

If you decide to sell your Weymouth, Massachusetts restaurant yourself, or through a Weymouth, Massachusetts restaurant broker, you need to always be prepared. Be ready to show your Weymouth, Massachusetts restaurant to potential buyers at all times.

You'll never know when a buyer could walk into your Weymouth, Massachusetts restaurant. Some buyers may even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Weymouth, Massachusetts Restaurant

This is the remaining action to take after a successful negotiation with a buyer. This stage includes the presentation of the necessary documentation to finalize the contract. The paperwork often start with the Asset Purchase Agreement.

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

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

Choosing a Weymouth, Massachusetts Restaurant Broker

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

It's true, if you're looking to get the most from of the business transaction, you need a higher level of expertise in order to stand out against your cometitors while attempting to find buyers.

Expertise is also vital during negotiations with prospective buyers. This is when an experienced Weymouth, Massachusetts restaurant broker is needed. A Weymouth, Massachusetts restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Weymouth, Massachusetts restaurant. Additionally, a restaurant broker will liekly help you sell faster and get you a higher sale value.

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

Contact a Weymouth, Massachusetts Restaurant Broker

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

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

Weymouth Zip Codes We Support: 02188