Advice for Buying a Restaurant and Selling a Restaurant

Franchise Restaurant Growth - Latest Deals Reviewed by the Restaurant Brokers

Posted by Robin Gagnon on Sep 26, 2016 1:00:00 PM

Are franchise restaurants expanding?  You bet they are!  Here are some of the latest deals the restaurant brokers have found in their inbox in recent days.  Is there a singular trend?  Not really.  Overall fast casual is still outpacing other segments (full service and fast food) and pizza is dominant but outside of those observations the news on franchise restaurant growth is across all categories.  . 

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Continuing to get a strong piece of the new unit pie are pizza concepts. Uncle Maddio's Pizza has signed a two-unit development deal for the Pensacola, Florida, area, with franchisees Jeremy and Wendy Jordan. The first location will open in 2017.  

Meanwhile, MOD Pizza has entered into a partnership with BBX Capital to develop an estimated 50 or more MOD locations throughout central and southern Florida over the next seven years. BBX has retail companies inlcuding Hoffman's Chocolates but this will be their first food business anrowd they are staking a huge role at 50 stores.  The restaurant brokers will be watching to see how this chain develops this opportunity.  

1.jpegPie Five Pizza is growin gin the Greater Baltimore area with the fifth location by franchisee Megel opening this month.  There are plans to open 12 more units by this franchisee in the Greater Baltimore over the next few years. Pie Five, based out of Dallas, offers a fast casual dining experience with customers designing their own pizza. 

While fast casual pizza is growing, the burger growth remains strong.  BurgerFi has added a second Delray Beach Florida location this month. The expansion in Delray is part of BurgerFi’s overall franchise development plans for this year, with a goal to have 100 restaurants open by the end of 2016. The company has experienced a surge of franchise expansion.

In other burger news, Cade Cothren, whose family is Hwy 55 Burgers, Shakes & Fries' master franchisee for the state of Tennessee, has opened a Lewisburg restaurant in Governor's Plaza. An additional two restaurants are already opened in Nolensville and Spring Hill, with about 50 new Hwy 55 locations planned for Tennessee over the next 10 years.

Other concepts expanding include Captain D’s who announced signed franchise developmen3-882.jpgt agreements to expand in Georgia, Texas and Virginia. As part of this accelerated growth, the company will open five new restaurants in the Savannah, Georgia market, three in Dallas, Texas, and one in Hopewell, Virginia over the next several years. Captain D’s has experienced a recent surge of franchise development, propelled by the brand’s overall expansion plans for the year and its ongoing success, with the second quarter of 2016 signifying its 19th consecutive quarter of system-wide growth.

A Texas Dairy Queen franchisee is moving at a rapid pace.  He just announced the opening of their 9th location in 40 months.  Franchisee Michael Clarke, owner Luckety Split Food Services said, "We opened our first location in Euless, Texas in April 2013 and now, exactly 1,234 days later, we'lll open the doors to our 9th location."  Now that's moving ""Likety Split!"

Richard Tarascio, President of Hot Harry’s Fresh Burritos has announced the opening of the newest Hot Harry’s location at 1470 East Street, New Britain, Connecticut.  Walk On Bistreaux & Bar has announced an Area Development Agreement with seasoned restaurant owner Moussa Haidar to bring an initial five Walk-On’s Bistreaux & Bar restaurants to southern Texas, with more locations to be added in the near future. Haidar currently owns and operates more than 20 IHOP locations and an On The Border franchise.

Houston-based Salata, a custom salad and salad wrap chainwith 53 locations throughout Texas, California and Illinois, is reinstating its franchising program, after a two-year hiatus during which time it opened a new headquarters building.

4.pngNewk’s Eatery, the fast casual restaurant known for its culinary-driven menu and open kitchen, is expanding into Indiana with the company’s latest development agreement to open 15 locations in the Indianapolis and southern Indiana markets over the next several years. Indy Eatery is the fourth multi-unit franchisee to sign with Newk’s in 2016. Combined, the new franchisees will open more than 45 new restaurants in the next four years, consistent with Newk’s goal to reach 200 units by

Paris Baguette, announced its first multi-unit franchise deal in Northern California. With 11 locations already open an operating throughout Northern California, Kim’s next location is expected to open in the first quarter of 2017 in the city of Sunnyvale, California. With over 70 years of experience in the baking industry, Paris Baguette first debuted in the United States in 2005. Further expansion plans across the United States will focus on 18 key target markets including continued development throughout California and the Northeast. By the close of this year, Paris Baguette is on track to add 15 new locations. 

Chicken Salad Chick, will be expanding in Georgia with its first location in Athens. This location marks the 13th 7.pngChicken Salad Chick location in Georgia, and the sixth location for Origin Development Group, an Atlanta-based restaurant development fund founded by Darren DeVore and Lauren Fernandez. The Chicken Salad Chick concept  has 63 restaurants across the Southeast.

How's the franchise restaurant business?  From the deals announced and opening, the health seems pretty strong.  What do you think?  Want to see our latest franchise restaurants for sale?  Visit this link. 

 

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Topics: buying a restaurant

Restaurant Brokers Expand with Second Husband & Wife Team

Posted by Robin Gagnon on Sep 23, 2016 1:00:00 PM

What’s better than one knowledgeable restaurant broker?  For We Sell Restaurants, the nation’s largest restaurant brokerage firm with a married couple at the helm, the answer to this one is easy! Its two knowledgeable restaurant brokers in the form of a husband and wife team!  The firm is excited to announce the addition of Cyndi Weinbaum to the Atlanta office who is not only joining the We Sell Restaurants group but will be teaming up with her highly successful Certified Restaurant Broker husband, Steve Weinbaum to form a new dynamic duo.

Cyndi recently completed her instruction and testing to earn the distinction of Certified Restaurant Broker, roughly one year after her husband, Steve Weinbaum completed this same exercise.  Cyndi is a licensed Real Estate Agent who has been representing buyers and sellers for over a decade.  Her experience in the residential market for both resales and new construction has provided her with excellent experience in negotiating complex contracts and performing valuation and analysis for commercial real estate and the business community.SC.jpg

Robin Gagnon, co-founder of We Sell Restaurants said, “Cyndi is a tremendous asset to the We Sell Restaurants team.  Eric and I can fully appreciate the lifestyle and fun she and Steve will enjoy working together along with the passion she brings to the role.” 

Cyndi is also a Certified Negotiation Specialist and has attended many workshops and seminars on sales and marketing.  Cyndi is a lifetime member of the Million Dollar Club.  She sharpened her negotiating and business analysis skills as a buyer for Macy’s where she collaborated on multifaceted deals in order to maximize return.  This further developed her ability to quickly and accurately review financial data to establish value and drive sales lines.   As a Restaurant Broker, Cyndi is now working with restaurant owners to accurately value, market and sell their restaurants for maximum value.  She is also helping buyers identify the right business opportunity based on their financial goals and objectives.

Eric Gagnon, President of We Sell Restaurants said, “Cyndi’s partner and husband Steve is in his second year with We Sell Restaurants but is already making a name for himself in the marketplace.  In the 1st nine months of 2016, he has negotiated and closed a dozen restaurant and lease transactions with another five in contract set to close by the end of the year. With his wife joining his team, they are sure to continue this strong trend.” 

Steve is a licensed Georgia real estate salesperson and Certified Business Broker. He has over 25 years of experience working with retail, dining, and financial industry leaders with a focus on Marketing, Business Analysis, and Relationship Management. He spent six years working with all the major casual dining and QSR franchises on customer acquisition and retention with a focus on loyalty and customer engagement.

Steve has the ability to quickly and accurately review and evaluate financial data. This skill enables him to provide sound valuation feedback and business guidance.  Ask him to do a free valuation of your restaurant. He has years of experience negotiating complex business to business contracts. Combined with his extensive lease experience he is definitely someone you want working on your next lease agreement.  The importance of establishing open and honest rapport with all his clients is, and will continue to be, paramount.

His success is due to the personal attention he devotes to each and every client by helping them determine the best way to achieve their goals and working closely with them until they are realized.

As a team, Cyndi and Steve can utilize their experience, strengths, and contacts in the marketplace to serve their client’s needs.  If you are looking to buy a restaurant, sell your existing restaurant or franchise, or better understand the value of your restaurant or franchise, contact Steve or Cyndi today or go to wesellrestaurants.com and search the over 200 listings for second generation restaurant lease spaces, restaurants and restaurant franchises for sale.  For more information on Steve and Cyndi’s listings, click the link below.

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We Sell Restaurants Sells Rising Roll in Hot Perimeter Area

Posted by Robin Gagnon on Sep 19, 2016 11:00:00 AM

The Restaurant Brokers at We Sell Restaurants announce the sale of the Rising Roll Franchise Sandwich shop located at 1140 Hammond Drive rising_roll.jpein the thriving Perimeter corridor.  This unit joins a long list of franchise restaurants sold by the restaurant brokers this quarter.  This store located in the Perimeter Center area is a neighborhood and major edge city in Metro Atlanta.  It is one of the area's largest business districts and one of the largest edge cities in the United States, with over 29 million feet of office space and six million square feet of retail space along with 40,000 residents

Robin Gagnon Certified Restaurant Broker and co-founder of We Sell Restaurants represented the buyers in the transaction.  The buyers are Ken Greer and Deb Snyder.  They are the newest franchisees of the Rising Roll brand.  Both have strong backgrounds in leadership.  Ken has over 20 years of experience in Sales, Marketing, Business Development and General Management.  Ken who said of the transaction, "Robin made the process of buying a restaurant go smooth. She was a pleasure to work with.”

The sellers, Jason and Joann Chang are relocating to their native land of China after the sale.  They were represented by Dominique Maddox, Certified Restaurant Broker with We Sell Restaurants in the transaction. 

The Rising Roll concept is based in Atlanta Georgia and led by Mike Lassiter.  The brand opened in 1999 under the name “Uptown Gourmet."  The focus was on quality and variety, serving only lunch and lunch catering. It has expanded its franchise in a number of state and nontraditional locations. USA Today has ranked Rising Roll Gourmet Café as the “nations best for a sandwich.”

"Franchise restaurants for sale produce intense interest from restaurant buyers" says Restaurant Broker Robin Gagnon of We Sell Restaurants.  "We find that franchise restaurants sell, on average, at three times the rate of independent concepts.  We measure the turnover based on the number of days on market and count of signed confidentiality agreements executed before a deal goes into contract."  

Why are so many individuals interested in franchise concepts over independents?  The IFA or International Franchise Association says on their website that ““Owning a franchise allows you to go into business for yourself, but not by yourself.” That’s a great quote and very applicable to the fast casual business where the restaurant brokers specialize.  Those in the market for a simple concept, great training and an established business model are aided by the methods, practices, known brand name and marketing of a franchise brand.

Many buyers that are seeking a job outside of corporate America are most comfortable with franchises for those reasons.  They are used to the consistency and big business environment and want to see similar practices. 

Many buyers focusing on franchise resales or open and operating units are attracted because of the strength of the financial reports.  The books and records often have to be submitted to the franchise annually so they are up to date.  In addition, it is very rare to find a brand that does not have a POS system feeding sales in real time to the Franchisors.  That creates a better set of materials to gauge the financial performance by than an independent restaurant that may not have as sophisticated a setup for bookkeeping and tracking.

One final reason that franchises are attractive to buyers are the ability to get loans.  Our SBA lenders approve most franchise deals within 48-72 hours of submission.  For that reason, buyers only need to bring 20% down and they can leverage their funds and amortize a payment schedule over ten years.

All of these reasons contribute to why franchise resales like the Rising Roll in Dunwoody are booming. For a complete look at franchises for sale currently, visit our listings online at wesellrestaurants.com.

 

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Topics: selling a restaurant

Franchise Restaurant Growth - The Restaurant Brokers Compilation of New Stores

Posted by Robin Gagnon on Sep 15, 2016 9:30:00 AM

The industry news is good for expansion of franchise restaurants with growth reported to the Restaurant Brokers from multiple sources.  Concepts range from sweet to savory and unit counts go up to 100.  We'll kick it off with the sweet news since Donuts, Baked Goods and Ice Cream are all putting more stores on deck. Sweet Openings
  • Leading off the latest news is a report from Franchise Times that Krispy Kreme has an operator signed to a ten store deal with eight units to open this year and two more slated for 2017.  Krispy_Kreme_Logo.png
  • Not to be outdone by their competitors, Dunkin' Donuts also announced growth with a multi-store deal announced for two existing franchise groups to build out nine Dunkin' Donuts stores in Alabama.  Half of the stores are slated for the Montgomery area with half in the Greater Birmingham area.  That's also reported by Franchise Times.
 
  • Philadelphia will soon have more of the smells of hot baked cinnabon rolls with Cinnabon franchisee Sally Saad's committment to four additional locations in the Philadelphia market. Here first store will  open in the remodeled Philadelphia Mills mall this fall.

  • Sweet treats continue with Carvel  announcing three new stores slated for South Florida by tthe first quarter of next year. .
Savory Expansions
  • Arooga's  Grill House and Sports Bar ha opened their first New York location as part of the multi-unit expansion they announced last year.  This is the first of at least 10 locations planned for Long Island (Nassau/Suffolk Counties) and Queens borough of New York.  
  • Donatos Pizza  signed a development deal for three new locations to the Illinois-Indiana-Kentucky tristate area over the next few years.
  • Chicken Salad Chick restaurant, owned and operated by existing husband-and-wife, Becky Roland and Richard Meadows, alongside their son, David Roland, opened this month in Florida as a third location.
  • Uncle Maddio's Pizza has signed a second franchisee for the Knoxville, Tennessee, area. The franchisees will open three Knoxville units, bringing the total number of units in the area to four. The first restaurant is slated to open in 2017. 
  • Dickey's Barbecues makes our growth list almost every time we publish an articel.  They are announcing two new locations for North Texas and West Nebraska along with four planned locations to open in Traverse City and Kent County.  The Great Lakes State is currently home to eight Dickey’s locations. The Traverse City store is slated to open by May 2017, and the other three will follow throughout Kent County. 

  • Hot Dogs are in the news as Charlie Graingers announces a 100 Store Deal & Eclipses 350 Franchise Commitments. Charlie Graingers Hot Dogs, Brisket, and BBQ based out of Wilmington, NC continues their expansion by announcing a signed deal with Cynergetic LLC to continue their growth in Florida. They currently six locations under development in the state. This new deal will bring the total commitment in Florida to over 115 Charlie Graingers locations. Charlie Graingers Franchising LLC has secured over 350 locations all over the southeast from Florida to Virginia

  • J. Gumbo’s Cajun and Creole cuisine is growing with new franchisees to open in Michigan, New Mexico, North Carolina, Ohio, and Pennsylvania. The five new restaurants will be located in Kalamazoo, Mich. Albuquerque, N.M., Cincinnati, Ohio, Cranberry Township, Pa. (near Pittsburgh) and Harrisburg, N.C. (near Charlotte). 

   Checkers & Rally’s  In the first eight months of 2016, the brand inked deals with 45 new franchisees to date in addition to 42 new franchisees in 2015. The new franchisees are approved for 200 new sites on top of the already 139 approved sites in the restaurant pipeline. This pipeline represents a significant 40 percent growth of the Checkers & Rally’s franchise system. Additionally, Checkers & Rally’s is celebrating its fifth consecutive year of same-store sales growth system wide – an achievement that has consistently beat out the average for the hamburger quick-service restaurant category.

That's a look at the latest round up of announcements for franchise restaurant growth and multi unit deals around the country.  For a look at the latest franchise restaurants for sale by the restaurant brokers, click this link.

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Topics: buying a restaurant

5 Signs You're Not Ready to Sell Your Restaurant

Posted by Robin Gagnon on Sep 13, 2016 11:00:00 AM

ready_to_sell.jpgWe recently wrote a very popular blog post describing 5 Ways to tell that you’re not ready to buy a restaurant.  It occurs to us that sellers fit the same pattern.  The Restaurant Brokers encounter dozens of sellers who have receive our email blast or hear from a friend about all the restaurants we’re selling so they reach out.  Are you really ready to sell your restaurant?  If you think you're ready to list but fit one of these scenarios, your mind may be saying yes while your heart is still saying no.   

#1 You Aren’t Keeping Your Books Up to Date 

You may think you’re ready to sell but without books and records, the market will absolutely shut you down.  If you’re an old school operator who doesn’t keep a P&L up to date (at least quarterly) or can’t produce a tax return to match your POS system, you’re not ready to sell.  Today’s buyers are more sophisticated than ever and they want all the information they can get on a business before they write an offer.  The old days of pulling some numbers together after someone expresses interest are gone. In today’s competitive environment, we need to see the books before we ever list the business.  

#2 Your Wife, Family, Partner (fill in the blank) Needs to Be Convinced it’s the Right Time to Sell Even Though You’re Ready.

Selling a restaurant is a team sport if significant others are involved in the business or you’re part of a partnership.  Getting everyone on board to sell is no easy task and the last thing you want to do is engage a broker, find a buyer and bring an offer to the table only to have it turned down by a minority investor or business partner.  Get on the same page before you ever list your restaurant for sale if you are serious about moving on.  This may involve bringing in a life coach or outside resource so everyone can figure out ‘What’s next” once the business sells but this upfront work can save a lot of emotional turmoil and hurt feelings if the entire team doesn’t buy in before you go to market.

#3 You Have Outstanding Issues with your Franchise, SBA Lender or Landlord

You are not ready to sell if you’re in a fight with someone that can hold up the approval on the deal.  If you don’t like your franchise and they don’t like you; that’s okay and it can be worked around but let your broker know up front.  If you’re behind on your royalty payments or facing a default on your lease or your loan, the broker must know this before he begins working with buyers.  Often the landlord or franchise is just as ready as you are to move on to another party and they will help facilitate the deal.  On the other hand, if you have a damaged relationship, they can keep a new buyer holding until they lose interest or walk away.  Settle whatever’s outstanding or get them on the same page that you’re moving on as soon as you find a buyer and then you will be ready to sell your restaurant. Make sure your broker is in the loop on any issues.  A knowledgeable restaurant broker will be able to work directly with the franchise, bank or landlord to negotiate whatever's needed to get the business sold. 

#4 You Have an Issue with Your Liquor License or Other Legal Matter

For restaurants that serve alcohol, the profits from this part of the business may greatly exceed earnings from food sales alone.  If you have any actions pending that could jeopardize that liquor license, you are not ready to sell.  The issue must be resolved before placing in on the market.  It isn’t just the liquor license that needs to be handled.  Sellers must disclose through terminology in a purchase contract knowns as “Reps and Warranties” that the business is free and clear of any legal issues that could affect the operation.  If you are in the midst of an ADA compliance action, a zoning change, a sexual harassment suit – whatever dirty laundry may be out there, our advice is to get your Restaurant Broker on board. He or she can refer you to an attorney to handle the situation.  With a resolution in place, you can move forward with selling your restaurant but not before.

#5 You Aren’t Ready to Let Go

All the other reasons that tell us you’re not ready to sell are very logical but the last reason is entirely subjective and only you know the answer.  If you can’t imagine life without checking in on your favorite customers in the back booth or buying your regulara a drink once a month, you just may not be ready to sell.  We have listed businesses and received full price offers only to have sellers back down or refuse the offer.  Spend some time examining your motivation to sell, your plans for the future and your intention to move on before you list.  If you are emotionally connected to the business in a way that makes it difficult to see beyond and feel like you should sell because of pressure from family, take a vacation and give it some thought before signing the listing agreement.  For many Americans, small business are not just what we do but who we are.  If you’re not ready to give it up, don’t feel pressured to do so.  Wait until your heart and soul are ready to move on.

Are you ready to sell your restaurant?  If so, click the link and we’ll help you out.  If one of the five items on this list apply to you, work through the issue and then give us a call. 

Here’s a look at sellers who were ready to go and their many restaurant for sale listings online.

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Topics: selling a restaurant

Who’s buying a Restaurant?  The Demographics of Restaurant Buyers

Posted by Robin Gagnon on Sep 9, 2016 11:00:00 AM

Buyers.pngIs American still the land of opportunity?  A recent white paper published by BizBuySell focused on the demographics of those buying businesses in America today indicates it just may be.  They attempted to profile today's business buyers and sellers.  For buyers, the commonalities in their study showed buyers of small businesses in general to be:  

  • Largely Caucasian (70%)
  • College-educated and married
  • In their 40s and 50s.
  • Male -- 78%

Men, according to their statistics account for 78 percent of today’s buyers. They are also well educated, with just 28% holding neither a college degree or having a trade or vocational background.  The restaurant brokers decided to check these statistics against our own restaurant buyers.  We took the sales so far for 2016 and analyzed whether these restaurant buyers match the model set forth by BizBuySell.  The results?

We Sell Restaurants buyers for 2016 show some similarities and other real differences from the statistics cited in this recent BizBuySell white paper.  One interesting finding in surveying our actual restaurant buyers is that 20% of our purchasers were teams made up of males and females. These were almost exclusively husband and wife teams.  This was not even mentioned in the BizBuySell statistics of prospective buyers so it could be those thinking of buying a restaurant and responding to their survey were just half of the eventual buyer profile while our actual results are from buyers that made the purchase and we were able to interact with both sides of the equation.  Other statistics from the We Sell Restaurants buyer pool this year:    

  • 55% Caucasian 
  • Largely (80% college educated and married)
  • 5% Female only 
  • 20% were Male/Female teams (husbands and wives buying together)
  • Average age:  42

While the national results show that 7 in 10 buyers are Caucasian, the restaurant buyer pool from our database is much more diverse.  Our restaurant buyers showed that only 55% were Caucasian or native born white while 45% count themselves among other groups such as Asian, Hispanic or Latino or were first generation Americans.    

From the BizBuySell white paper, their prospective buyer audience was slightly more diverse in age. Thirty-six percent of buyers today are college graduates and 22 percent hold post-graduate degrees; just 28 percent have no college degree or trade/vocational background. The buyer population is slightly more ethnically diverse than sellers. Seventy percent of prospective buyers identify as Caucasian, 12 percent as Asian/Pacific Islander, seven percent as Hispanic/Latino, and seven percent as African American. The buyer pool is also more diverse than the overall U.S. population: according to 2014 census estimates, 77 percent of Americans classify themselves as Caucasian, 13 percent as African American and less than six percent as Asian/Pacific Islander.

We have a harder time quantifying education as we did not specifically ask that question of our buyers.  The BizBuySell survey also indicated that that more than a quarter of buyers are not natural born U.S. citizens. Fifteen percent of buyers are naturalized citizens, eight percent identify as permanent residents and two percent as visa holders. For We Sell Restaurants, the percentage is slightly higher at around 33% naturalized citizens or in the process of becoming naturalized citizens.  We find that our restaurant buyers often come to the United States on an E2 or investment visa. They are attracted to the restaurant industry, especially franchise restaurants and for this reason, our statistics would be much higher. 

The BizBuySell results were also able to capture additional tidbits such as whether buyers have a military background and reported that nine percent of all buyers self-reported themselves as veterans.  We Sell Restaurants was not able to provide data on this statistic. 

One other finding of the BizBuySell statistic that was in stark contrast to We Sell Restaurants is their finding on independent versus franchise acquisition.  For their buyers, across the board, they were interested in owning established or independently owned businesses, more so than new or existing franchises.  For We Sell Restaurant buyers, a majority were inquiring on franchise resales. 

We will continue to monitor the BizBuySell buyers and see how closely the We Sell Restaurants buyer corresponds.  For more information on listings available at We Sell Restaurants, follow this link. 

 

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Topics: buying a restaurant

Restaurant Brokers Report the Top 10 Restaurants for Sale August 2016

Posted by Robin Gagnon on Sep 6, 2016 1:00:00 PM

Want to know which restaurants for sale were flying off the shelf (or racking up the views) for the month of August 2016?  Here's the Restaurant Brokers latest report on which listings got the most views online at our powerhouse website, WeSellRestaurants.com. These the ones that generated the most online confidentiality agreements, resulted in the most calls to our Certified Restaurant Brokers and for some, went straight to contract.

A non-traditional restaurant for sale took the lead this month with a Food Truck for sale by Ken Eisenband in South Florida;  The well equipped truck is on the market for $55,000.  You can use their concept and receipes or go to market with your own.  Join the food truck craze with this one offered by the restaurant brokers. 

Listing ID:5064 Restaurant Broker Ken Eisenband    
Well Equipped Food Truck for Sale in South Florida
Lease: Food Truck
Monthly Rent: $Food Truck
Inside Sq. Ft. Food Truck
Outside Sq. Ft.
Price:$55,000
City:Cooper City

Ken Eisenband
(561) 350-3365
 South Florida continued to rack up favorites with our restaurant buyers this month with a low price listing in Pompano Beach generating strong interest.  The cafe for sale serving breakfast and lunch checked in with a very low lease rate of under $2000 per month driving strong activity.
Listing ID:5082 Restaurant Broker Ken Eisenband    
Cafe for Sale Serves Breakfast & Lunch Pompano Beach - Under $50K
Lease: Expires March 31, 2019 plus five year option
Monthly Rent: $1842
Inside Sq. Ft. 1800
Outside Sq. Ft. 0
Price:$49,000
City:Pompano Beach

Ken Eisenband
(561) 350-3365
Restaurant buyers in the market for bargains drove the top five restaurant for sale onto the leader board this month.  Every one of the five most popular listings were under $75,000 including this Mexcian restaurant in Cobb County Georgia on the market for just $69,999.  You can keep the current concept or change it over at this home run location with rent at just $2600 per month for a fully equipped restaurant.  
Listing ID:5059 Restaurant Broker Dominique Maddox    
Mexican Restaurant for Sale in Cobb County Priced to Move
Lease: Expires April 2021
Monthly Rent: $2600 including CAMS
Inside Sq. Ft. 2800
Outside Sq. Ft.
Price:$69,999
City:Marietta

Dominique Maddox
(404) 993-4448
 Leasing a restaurant is on the mind of many buyers and another Cobb County location made it into the top five this month with this fully equipped space ready to go.  We generated multiple letters of intent for this space and are close to inking a deal on this one. 
Listing ID:5000 Restaurant Broker Robin Gagnon    
Bar and Restaurant For Lease in Booming Cobb County! Fully Equipped
Lease: 5 plus 5 to be negotiated
Monthly Rent: $4795.00
Inside Sq. Ft. 3712
Outside Sq. Ft.
Price:$0
City:Marietta

Robin Gagnon
(404) 800-6701
 Another restaurant for rent in the marketplace drove strong action for the month of August 2016 with a space for lease with a drive through in Alpharetta Georgia.  With monthly rent under $3500, this 1600 square foot space with excellent demographics is offered by Restaurant Broker Steve Weinbaum.
Listing ID:5079 Restaurant Broker Steve Weinbaum    
Restaurant for Lease with Drive Thru in Alpharetta
Lease: To Be Negotiated
Monthly Rent: $3,492 with CAMS
Inside Sq. Ft. 1600
Outside Sq. Ft.
Price:$0
City:Alpharetta

Steve Weinbaum
(770) 714-4552
Any listing inside the Perimeter is sure to rack up views and this deli for sale was no exception.  The low rent, location inside the perimeter and the price point under $140,000 makes this an attractive listing for our buyers.
Listing ID:4934 Restaurant Broker Steve Weinbaum    
Profitable Deli for Sale inside the Perimeter - "In Town" location, Metro Atlanta
Lease: July 31, 2017
Monthly Rent: $2000
Inside Sq. Ft. 1650
Outside Sq. Ft.
Price:$139,000
City:Atlanta

Steve Weinbaum
(770) 714-4552
 Another restaurant for lease in Fulton County stayed in the top 10 for a second month this summer.  The restaurant brokers have received multiple offers on this location but haven't been able to bring the right tenant forward yet to finalize a lease with the landlord.  He wants a strong concept that's established -- no first timers but the beautifully build out space is ready to go and garnered lots of views.
Listing ID:4918 Restaurant Broker Eric Gagnon    
High traffic Restaurant for lease in high income area ready for your concept!
Lease: 5 years
Monthly Rent: $4250.00
Inside Sq. Ft. 2500
Outside Sq. Ft.
Price:$0
City:Alpharetta

Eric Gagnon
(404) 800-6704
Texas Restaurant Broker and franchise partner Dave Duce drove strong activity with a listing that has cash flow of more than $130,000.  The booming concept is a wine bar in Austin Texas and the activity has this one close to a deal this month. 
Listing ID:5055 Restaurant Broker Dave Duce    
Wine Bar for Sale Cash Flow of $130,000! Well Established and Successful
Lease: expires August 31, 2019 (landlord willing to extend lease)
Monthly Rent: $4660
Inside Sq. Ft. 1493
Outside Sq. Ft. 200
Price:$395,000
City:Austin

Dave Duce
(512) 773-5272
 Keyboards were clicking to sign our online confidentaility agreements on restaurant space for lease this month and this listing in Roswell created strong interest weighing in as the ninth most popular listing.  This restaurant is fully equippped in both the front and back of house and has an amazing bar and patio.  Bring your offers.  We don't have the deal signed yet on this one.
Listing ID:4832 Restaurant Broker Robin Gagnon    
Restaurant Space For Lease with great bar and patio in Roswell!
Lease: To be negotiated
Monthly Rent: $To be Negotiated
Inside Sq. Ft. 6000
Outside Sq. Ft.
Price:$0
City:Roswell

Robin Gagnon
(404) 800-6701
 Rounding out the top ten is a Cafe and Ice cream shop for sale in the Austin Market.  This great little cafe and ice cream store i located in a popular outlet mall where they get strong traffic.  Take your offers to franchise partner Dave Duce on the tenth most popular listing of the month.
Listing ID:5070 Restaurant Broker Dave Duce    
Cafe and Ice Cream Shop for Sale! Available in Popular Outlet Mall!
Lease: expires June 2017 - renewed yearly
Monthly Rent: $3062
Inside Sq. Ft. 466
Outside Sq. Ft.
Price:$55,000
City:San Marcos

Dave Duce
(512) 773-5272


The restaurant brokers gauge our most popular listings based on page views, confidentialtiy agreements signed and calls direct to our certified Restaurant Brokers seeking addiitional information.  Our hundreds of restaurant for sale listings can be found online at this link.

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Topics: restaurants for sale

What's Happening with Restaurant Sales?  Restaurant Brokers Report

Posted by Robin Gagnon on Aug 31, 2016 9:00:00 AM

financial-crisis-544944_1280.jpg

Restaurant sales in the second quarter of 2016 appeared to slip when you look at both local polling and national trending  The restaurant brokers, along with our buyers and sellers are wondering, is this negative news a trend or a short term blip?

Robert Wagner, CPA and principle at NetFinancials released his annual survey headlined, "Established Atlanta Restaurants Struggle in Q2 2016" while one notable analyst said to prepare for a "Restaurant recession."  Despite these pessimistic headlines, we are getting reports of strong sales on a door to door basis and continuing control over costs leading to store level earnings increases.  

The Wagner survey, a long-term barometer of Atlanta restaurant sale indicates that "Atlanta Q2 2016 restaurant sales volume grew at a paltry 1.8% over Q2 2015. For the quarter ended June 2016 positive sales gains were reported at 54% of the 108 independent Atlanta restaurants surveyed. Year to date 2016 comp sales are up 2.6% over 2015 sales."  

Nationally, the news is much worse.  TDn2K’s Black Box Intelligence, a restaurant sales and traffic- tracking company, reported national restaurant Q2 revenues declined by 0.7% for the second consecutive quarter of negative sales growth nationally.

Wagner reveals that results were across the board for the quarter, saying, "“Q2 2016 was one of the strangest quarters we’ve seen. Sales at Atlanta restaurants were gangbusters in April, sales were so-so in May and then in June the bottom dropped out."  He went on to reveal the most disturbing number is his survey saying, "Forty-six percent (46%) of restaurants in our survey reported sales declines for Q2 2016. That is the highest percentage of restaurants with quarterly negative sales since 2010 when our Atlanta restaurant survey started."  Restaurants weren't the only ones hit in second quarter.  Group occupancy at Atlanta’s hotels dropped in June by 5.7% when compared to June 2015. 

 A recap of the results are shown below: 

 

Q2 Atlanta

Q2 National

YTD Atlanta

YTD National

2016 Comp Sales

1.8%

-0.7%

2.6%

-0.4%

In other articles on restaurant sales, an analyst is predicting a downturn based on how well the industry has been doing.  Their reasoning?  It's been too good to last.  

Stifel Financial Corp. analyst Paul Westra says to get ready for "the start of a U.S. Restaurant Recession" and telling his clients to exit restaurant shares.  He is saying this despite the National Restaurant Association’s performance index topping 100 every month of 2016.  This index is said to signal industry-wide expansion and the National Restaurant Association is predicting record-high sales for 2016. That seems at definite odds with Westra who is basing his analysis on only the most recent quarter of results when earnings reports were missed by Starbucks, McDonalds', Taco Bell and Chipotle.  His results also ignore pizza which turned in pretty good results (+9.7% for Papa John's).  

In yet more news on the national front, Jonathan Maze said in a recent Nation's Restaurant News article that "Industry sales are slowing down." The actual decline from first to second quarter a decline of 1.7 percentage points.  The change in sales varied by segment with quick-service chains and casual-dining chains averaged same-store sales slowdowns of 1.5 percent from the previous quarter and family dining chains averaging a 1.3-percent sequential decline.

Four sources are weighing in with NetFinancials painting a bleak picture for Atlanta restaurants and other national analysts also pointing to slower sales growth. On the other hand, the National Restaurant Association's predictive index is positive for every single month of 2016.  Our thoughts are this.  Restaurant sales results are spotty and have more to do with the individual operator than overall trending.  While there is some anecdotal evidence that retail sales and food sales slip during the months leading up to an election year, we have some sellers with double digit increases.  We see operators achieving success based on attention to detail, commitment to marketing plans with specific dollars and measurable actions and overall focus on controllable items including food and labor costs.  This is across the board for fast casual, full service and fast food.  We are adopting a wait and see attitude to see if three months represent a trend but expect the first months of q-4 to soften with the end of November and December stronger for restaurants.  Why?  The election will be settled and with that comes a result that is known rather than the uncertainty that the American public is currently facing. 

Sources:  Data for Atlanta Restaurant Sales was provided by Robert Wagner, CPA is president of NetFinancials, Inc. which provides a full range of tax and accounting services for restaurant companies. Email: bob.wagner@netfinancials.com. www.netfinancials.com Direct: 404-874-7002

The NetFinancials quarterly Atlanta restaurant sales survey is provided as a public service to the restaurant industry. Copyright NetFinancials, Inc.

Topics: buying a restaurant, selling a restaurant

Restaurant Broker Dominique Maddox Bring Wagaya Restaurant to Emory Park

Posted by Robin Gagnon on Aug 30, 2016 11:23:25 AM

Restaurant Broker  Dominique Maddox of We Sell Restaurants has leased the Former Bad Dog Taqueria located at 1579 N Decatur Road  in Atlanta Georgia.  Dominique Maddox represented Wagaya Japanese Restaurant in the lease transaction. The owner, Takashi currently operates his well-known Wagaya Japanese Restaurant in the heart of midtown at 339 14th St NW, in Atlanta, Georgia.

Capture-49.pngWagaya is an authentic full-service Japanese restaurant owned and operated by a Japanese chef.  Their menu selection is not limited to traditional sushi but also includes ramen, donburi (rice dishes), and tapas.  The new location will be the second one of this concept in the marketplace.

Takashi the owner chef, started his restaurant career when he moved to Atlanta from Japan right after high school. He lived with relatives who were multi-unit operators and gained valuable experience.  Takashi worked every role in the business working from the bottom up as a dishwasher, a sushi/kitchen chef, and progressing to General Manager.  He earned a Hospitality Degree from Georgia State University.  HIs education enhances his abilities as a restaurant owner as well as his fluency in Spanish learned through study abroad to Mexico.

The landlord is excited about Wagaya Japanese Restaurant coming to Emory Village. Takashi plans to open the doors by end of the year. Takashi says, “This location will be a great location close to the Emory University for families to enjoy a unique Japanese experience.”

Restaurant Broker Dominique Maddox said of the transaction.  “It is always rewarding to work with established operators like Takashi to find space in a crowded marketplace like Atlanta.  Finding second generation restaurant space like this one allows an operator to move into a footprint that already has existing infrastructure.  It’s a specialty I enjoy.” 

Dominique Maddox is a graduate of Morehouse College and is one of the nation’s few Certified Restaurant Brokers.  His listings and full biography can be found online at this link.  Emory Village is a neighborhood business district located adjacent to the campus of Emory University in Northeast Atlanta, Georgia

We Sell Restaurants is the nation’s largest restaurant brokerage firm representing buyers and sellers across the country.   We Sell Restaurants is franchising nationwide and more information can be found about this opportunity online at www.wsrfranchise.com.

Topics: buying a restaurant, selling a restaurant

Restaurant Brokers Report the Top 10 Restaurants for Sale July 2016

Posted by Robin Gagnon on Aug 26, 2016 9:50:39 AM


Those in the market to buy a restaurant for sale in the month of July set new records on the We Sell Restaurants website.  The top ten restaurants for sale this past month led with a lucrative business in Atlanta that handles vendor contracts and ended in Texas with a franchise business for sale with six figure earnings.  The Restaurant Brokers rank the top ten based on website traffic, signed confidentiality agreements and inquiries to our brokers.   

The list of the Restaurant Broker's Top 10 started in Smyrna Georgia where a Food To Go sale by Domininque Maddox garnered the most views.  This type of listing is always well received since the hours are great -- no late nights and repeat business keeps this restaurant busy. A twist on the tradionalt food service business, this one is still available. 

Listing ID:5033 Restaurant Broker Dominique Maddox    
  
 
Food Business For Sale in Georgia has Lucrative Vendor Contracts
Lease: Expires July 31, 2020
Monthly Rent: $2470
Inside Sq. Ft. 3950
Outside Sq. Ft.
Price:$160,000
City:Smyrna

Dominique Maddox
(404) 993-4448
   
 The second most popular listing of the month was a Pizza business In West Boca, Florida.  This Pizza Business for Sale is located on one of the busiest roads in Palm Beach County with lot of potential of more growth. With a delivery service in place the opportunties are endless. Franchise Partner Ken Eisenband has this one on the market. 
Listing ID:5048 Restaurant Broker Ken Eisenband    
  

Profitable Pizza Business for Sale in West Boca has Unlimited Potential
Lease: Expires Decenber 31, 2018
Monthly Rent: $2438
Inside Sq. Ft. 1200
Outside Sq. Ft. 200
Price:$120,000
City:Boca Raton

Ken Eisenband
(561) 350-3365
   
South Florida We Sell Restaurants Frachise kept the hot streak of top inquiries coming with this Breakfast and Lunch Restaurant. The menu features full service Brazilian dishes. Lunch is done buffet style, with the Brazilian Churrasco meat concept catching the attention of many potential buyer.
Listing ID:4996 Restaurant Broker Ken Allain    
  
 
Breakfast and Lunch Restaurant for sale in Oakland Park, Florida
Lease: September 2019
Monthly Rent: $2024
Inside Sq. Ft. 1440
Outside Sq. Ft.
Price:$89,000
City:Oakland Park

Ken Allain
(917) 653-8587
   
Restaurants for lease made the top of the list with a fully equipped bar for lease in Cobb County Georgia.  This booming part of the Atlanta Metro is on fire with the boom accompanying the new Atlanta Braves stadium.  This 3712 square foot location is ready to go with rent under $5000 per month, excellent for this area.  
Listing ID:5000 Restaurant Broker Robin Gagnon    
Bar and Restaurant For Lease in Booming Cobb County! Fully Equipped
Lease: 5 plus 5 to be negotiated
Monthly Rent: $4795.00
Inside Sq. Ft. 3712
Outside Sq. Ft.
Price:$0
City:Marietta

Robin Gagnon
(404) 800-6701
   
Georgia keep making its mark on the Top List with this restaurant and Bar For Sale in Johns Creek. The decor, layout, and energy of this are captivating making this listing an eye catcher. A 4000-plus square foot restaurant and bar with a huge patio in the middle of John Creek has a location that keeps its following of customers.
Listing ID:5013 Restaurant Broker Steve Weinbaum    
  
Profitable Restaurant and Bar For Sale in Johns Creek Georgia
Lease: 5 years, 4 years remaining, with three 5 year options
Monthly Rent: $5159
Inside Sq. Ft. 4069
Outside Sq. Ft. 500
Price:$279,900
City:Johns Creek

Steve Weinbaum
(770) 714-4552
   
 Another listing out of the Georgia made it to the Top 10 list for July making the maket for Georgia strong for the month.  The restaurant space for lease has a great bar and patio! Located inRoswell this space for lease is part of a shopping center that attracts both family and business interests as the tenant mix. 
Listing ID:4832 Restaurant Broker Robin Gagnon    
 
  
Restaurant Space For Lease with great bar and patio in Roswell!
Lease: To be negotiated
Monthly Rent: $To be Negotiated
Inside Sq. Ft. 6000
Outside Sq. Ft.
Price:$0
City:Roswell

Robin Gagnon
(404) 800-6701
   
A Caribbean Restaurant Grill in Kennesaw, Georgia has shown strength in interest. The price under $40,000 keeps potential buyers looking along with the rent  at only $2800.
Listing ID:4811 Restaurant Broker Steve Weinbaum    
  
 
Caribbean Restaurant Grill for Sale in Kennesaw GA - Keep or Convert!
Lease: 4 years remaining
Monthly Rent: $2800
Inside Sq. Ft. 2000
Outside Sq. Ft. 100
Price:$39,900
City:Kennesaw

Steve Weinbaum
(770) 714-4552
   
Austin Restaurant Broker and the latest franchisee Dave Duce made the Top 10 list with this Restaurant Drive Thru in Austin. A great price which got the buyers highly interested.  This location is going to drive right off the market priced under 50K.
Listing ID:4958 Restaurant Broker Dave Duce    
  
 
Purchase this Restaurant for Sale with Drive-thru and Outdoor Patio in Austin, TX!
Lease: expires August 2020
Monthly Rent: $3675
Inside Sq. Ft. 1000
Outside Sq. Ft. 250
Price:$45,000
City:Austin

Dave Duce
(512) 773-5272
   
 Dave Duce in Austin adds another hit to the Top 10 list with this upscale bar for sale. The happening Austin market keeps the buyers highly interested in this well establised Wine Bar.
Listing ID:4948 Restaurant Broker Dave Duce    
Wine Bar for Sale Cash Flow of $130,000! Well Established and Successful
Lease: expires August 31, 2019 (landlord willing to extend lease)
Monthly Rent: $4660
Inside Sq. Ft. 1493
Outside Sq. Ft. 200
Price:$395,000
City:Austin

Dave Duce
(512) 773-5272
   
 Last but not least on the Top ten restaurants for sale this month is a Sandwich Franchise for sale by certified restaurant broker Robin Gagnon. This highly popular listing with six figure earnings attracted many buyers.
Listing ID:4924 Restaurant Broker Robin Gagnon    
  
Franchise for Sale in Texas! Earnings Exceed $108,000 per year!
Lease: Valid through 2028
Monthly Rent: $6076.65
Inside Sq. Ft. 1821
Outside Sq. Ft.
Price:$325,000
City:Allen

Robin Gagnon
(404) 800-6701
   

The top ten list of restaurants for sale ranged from a low of $39,900 to a high of $325,000 with many of the most popular listings already committed to by restaurant buyers.  The traffic for the month hit new highs with buyers recording record numbers of hits on our restaurant for sale website and signed confidentiality agreements.  Ready to take a look at some of the lastest offerings?  Click this link for the latest listings online. 

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Topics: restaurants for sale