How to Buy a Restaurant

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Learn how to buy a restaurant from industry experts and Restaurant Brokers  Eric and Robin Gagnon. Satisfy your Appetite for Acquisition.

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Appetite for Acquisition, the We Sell Restaurants Guide to Buying a Restaurant is the winner of the Best of 2012 Small Business Book Award

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Gourmet Burger Restaurant for Sale in Marietta, GA- Turn key Ready!

 

20515 yumm2[1]This burger restaurant for sale in West Cobb believes that fast food can be great tasting, healthy, and fresh. 

Buy this Gourmet Burger Restaurant for sale and cash in on the Burger craze. Did you know Americans eat about 14 billion burgers per year?  If you lined them up, it would circle the earth more than 32 times! Now the restaurant brokers are saying, "that’s a lot of burgers!"
 
This is a locally owned specialty restaurant that one uses organic ingredients to create a custom burger that will have you saying goodbye to conventional fast food forever.  Beautifully designed decor and logo shouts "franchise burger restaurant for sale" even though it's an independent operation. 

Cash in on desire of Americans to move beyond the basics when you buy this burger restaurant for sale that's definitely not one of the "Guys flooding the market with more inexpensive burgers that are sourced from suppliers sending the same thing into every business instead of relying on sustainable and organic resources. 
Buy this burger restaurant for sale in Cobb County Georgia and start serving up burgers the next day!  This restaurant for sale is currently doing sales of $35,000 per month with no advertising.  They are on track to do over $450,000 this year. High end finishes and organic choices make this restaurant for sale a hit in this affluent area.  Average household income within a 3-mile radius is $120,296 and the total population within 5 miles is 81,586.
 
The kitchen is equipped with everything needed to serve up piping hot, juicy beef, bison, turkey burgers, wraps, sandwiches and more.  From fryers to grills, this restaurant for sale is ready to go!
 
Rent for this burger restaurant for sale is a low $2500 per month and includes CAMs, water and trash.  This burger concept works great in this area, but could be transformed into anything but pizza since that concept already exists in this shopping center.  
 
Owner says sell my restaurant!  Sign the confidentiality agreement today and inquire about this restaurant for sale.

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers Interview Operator Innovations Award Finalists

 

The We Sell Restaurants radio show airs every Saturday at noon (12pm) in Atlanta on AM Talk 920 and Sunday at 1pm on Biz 1190AM, (The Wall Street Journal Network), in the nation’s 7th largest media market.  The goal of our show is to satisfy our listener’s appetite for acquisition, feed the need for restaurant reality and serve up a recipe for business success.

In the ever-changing restaurant business, operators are working daily to innovate by using their imaginations and hard work to develop new ways of doing business. The National Restaurant Association honors these individuals with Operator Innovations Awards. Fellow food service operators recognize and celebrate their peers which are chosen by a team of independent operator experts from across the country.  This week's show features some of these game changers in the industry; all of which were selected as finalists in various categories.  The winners in each category, in addition to the Innovator of the Year, will be announced at this year’s National Restaurant Association Show on Saturday, May 17th at the 3rd annual 2014 Operator Innovation Awards. 

Operator Innovations

Featured guests and distinguished innovators join the Restaurant Brokers to discuss their innovations including…

Jennifer Duggan, Director of Culinary and Hospitality Services at Kennesaw State University, joined KSU in January 2010, bringing fifteen years’ experience in food service, hospitality and event management.  Jenifer has produced national and international events and conferences and performed marketing and PR services for clients such as Intel, JCB, Comcast, Southern Company, Coca-Cola, the WNBA, Atlanta Dream, The National Peanut Board, and the Chick-fil-A Foundation.  Jenifer is an active member of the Georgia Restaurant Association, and serves as a student mentor for the Hospitality Education Foundation of Georgia.

Bill Cheek, Executive Director of Food & Beverages.  Bill Cheek has been the Executive Director of Food & Beverage for Chumash Casino Resort since 2011. In his previous experience, he was the Corporate Director of Hotels for ACE Parking Management (2008-2011), Director of Operations for W Hotels in San Diego (2007-2008), Director of Operations for Omni Hotels (2003-2007), and he’s held past Director of Food & Beverage roles for Rosewood Hotels & Resorts and Hilton Hotels.

Joe Snell, CEO, ViableWare.  Earlier in his career, Joe was an early member of Spry, Inc. in Seattle - which produced one of the first commercially available internet connection software packages available for sale to the public.  He was also the CEO & Founder of Seattle-based Pantheon, which was acquired by Compaq in 1997.  Pantheon created community publishing systems for newspapers such as The New York Times and the Houston Chronicle.  Later, Joe was the CEO & Founder of Union-Street.com in Seattle - which was acquired by InfoSpace for $17 million in 1999.  Lastly, he has also served as CEO & Founder of Seattle based Tamarac.

The Restaurant Brokers dove right into the innovations that secured nominations for this ambitious group:

Jennifer Duggan, nominated in the Health and Nutrition Category, described the ins and outs of Kennesaw State’s impressive campus dining program coined “Farm-to-Fit” which encompasses all aspects of healthy living, starting with the nutritional improvement of food grown on campus farms by increasing their nutrient-density, to thoughtful menu creation and preparation, to programming designed to encourage healthy lifestyle choices.  She described how food today is 60% less nutritious than what our grandparents ate.  Perhaps most interesting, the Restaurant Brokers noted, is that Kennesaw State is not an agricultural school despite their large growing practices; and Jennifer explained that they actually hire culinary experts, master gardeners and the like who are hands-on every day.  Wow! And this school is basically right here in our back yard! 

Bill Cheek, nominated in the Sustainability category, explained his approach at Chumash Casino Resort as a whole systems approach that goes beyond locally sourced food, energy efficient kitchen systems and renewable energy.  It is a comprehensive waste reduction strategy that includes recycling, repurposing and composting to decrease waste by more than 50% with an incremental cost reduction. 

Last, but definitely not least, Joe Snell, nominated in the Technology category, outlined the RAIL Payment Platform; which features digital, touch-screen check presenters that allow guests to split checks, auto-calculate tips, pay via credit card and trigger e-mail receipts all at the table for more streamlined, secure transactions that save staff time and lessen customer wait times. 

Impressive?  What do you think?

The reality of the restaurant business is that it’s about far more than simply serving up great food on a platter.  Restaurant Brokers Eric and Robin Gagnon demonstrate time and again there are numerous facets to the restaurant business beyond a fabulous menu in a great locale and these three innovators are excellent proof points as such.  To hear the skinny about this and more, download the show on iTunes or on the wesellrestaurants website.

We Sell Restaurants is the nation‘s largest restaurant brokerage firm based on the number of listings, transaction count and offices. The company is franchising nationwide and has offices in Florida, Georgia, Colorado and Tennessee.

LIKE this article? Please SHARE it on Facebook, LinkedIn or Twitter and remember that We Sell Restaurants is your leading authority on buying or selling a restaurant and/or all things restaurant-related.   

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers Weigh in on the Profile of a Restaurant Franchisee

 

Robin and Eric Gagnon, restaurant brokers and owners of We Sell Restaurants, focused on what or who makes a great restaurant franchisee in this week's appearance on Talk 920 and Biz 190.  The restaurant brokers host a radio show for this industry that is sure to satisfy our listener’s  appetite for acquisition, feed the need for restaurant reality and serve up a receipt for business success.  In this week’s show, which airs on Saturday at 12 Noon EDT (Talk 920) and Sunday at 12 Noon EDT (on the Wall Street Journal Biz Network 1190AM), listen as the restaurant brokers explore this topic with franchise experts from across the nation.

restaurant brokers

They were joined by Connie Alires, Director of Franchise Development of Which Wich, who has been on the development side of franchising in the QSR industry since 2004.  She has an unmatched passion for franchising and the franchisee selection process.  In 2009 she completed her certification with the International Franchise Association and obtained her Certified Franchise Executive credentials (CFE).  Also joining the restaurant brokers is a proven leader and 20-year veteran of the restaurant industry, Michael Rotondo, CEO of Tropical Smoothie Café; a rapidly-growing national franchise known for its healthy food with a tropical twist.  A true foodie at heart, Michael has led the creation and execution of successful and innovative menu items – including a value line of flatbreads that contributed to 50% growth in the chains sandwich sales.  More recently, he developed a new kale and spinach smoothie which currently holds the title as the Number 1 smoothie on the menu and represents 5.5% of total sales.

The restaurant brokers started off with the topic of growth plans for 2014.  Both brands have extremely rapid projection plans.  And what exactly does that mean?  They will be looking at prospective franchisees; even though a lot of growth seems to be from the existing franchise base within both brands.  Looking to new franchisees, what do they look for regarding who moves forward in the process? Restaurant broker Eric Gagnon wants to know if there are certain character traits that make for a great frachchisee.  Which Wich wants people who want to be part of the core culture and values, along with the approval process in general; as they choose viable candidates to move forward under their brand.  They focus on whether they are the right fit for their brand and if they understand the vision for the brand.  Tropical Smoothie aims for the same, but Michael was quick to point out that they must be playbook followers they can think on their own and certainly be entrepreneurial, but understand that there is a process, a proven process and that they have to believe in the brand, the system and the model.  Michael says, “don’t reinvent the wheel - focus, on growing the sales side of business”.

Connie and Michael both agree that retired military, firefighters and police officers seem to be extremely successful candidates within the franchising industry.  Perhaps because of the playbook and the model’s executable and proven system?  Fantastic organization skills and the like?  Want to hear more on this topic and what other tips and techniques will help you go before the franchisor for that all important Discovery Day?      

Miss the show?  No problem, the radio show is available for download on iTunes or online at www.wesellrestaurants.com.

Take a moment and LIKE the restaurant brokers on Facebook.com/wesellrestaurants or follow the restaurants brokers on Twitter @sellrestaurants. We Sell Restaurants is your industry authority and source for information on all things restaurant related.  Remember, We Sell Restaurants is the nation's largest restaurant brokerage firm based on the number of listings, volume and transaction count.  They are currently operating in Georgia, Florida, South Carolina, Tennessee and Colorado while actively seeking new restaurant broker franchisees in Miami, Texas and North Carolina.

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Top Ten Restaurants for Sale in March 2014

 

The restaurant brokers offered lots of options with new restaurants for sale in the month of March 2014 and our buyers responded with strong activity and interest in the options.  The most popular restaurant for sale listings are measured based on the number of inquiries to our Certified Restaurant Brokers, the count of confidentiality agreements signed and the web traffic to our powerhouse website.

One common theme among the top restaurants for sale this month is that the top five slots were dominated by brand new listings.  The top listing is a sandwhich shop that was released at the beginning of the month.  It's priced at $59,995 and the seller is ready to make a move on this one quickly.

Sandwich Shop for Sale in Atlanta Metro
Lease: August 1, 2013 - July 31, 2016
Monthly Rent: $$3000
Inside Sq. Ft. 1200
Outside Sq. Ft.
Price:$59,995
City:Atlanta
The number two position on the restaurant for sale hit parade includes another new listing.  This sports bar and tavern for sale in the thriving Atlanta metro area does strong volume and returns great results.  the well equipped opportunity drove lots of calls to our restaurant brokers for showings. 
Sports Bar and Tavern for Sale Does Over $1.0 Million in Sales
Lease: 5 years remaining on existing lease term
Monthly Rent: $13500
Inside Sq. Ft. 3980
Outside Sq. Ft.
Price:$225,000
City:Atlanta
This franchise pizza restaurant for sale didn't even hit the market until later in the month and still found a place in the top three slots.  This beautifully designed restaurant with both beer and wine service.  This location has excellent lease terms with a 5 year fixed rent on the option to renew the lease.
Franchise Pizza Restaurant for Sale in GA Earns $80,000 on the Books!
Lease: Valid thru April 30, 2015 plus 1 five year option
Monthly Rent: $3576
Inside Sq. Ft. 2325
Outside Sq. Ft.
Price:$245,000
City:Cumming
An Italian themed restaurant for sale with a wonderful outdoor dining space and patio in Decatur was a hit with our restaurant buyers as well.  Decatur is a popular area within the Atlanta marketplace and this particular restaurant for sale can remain the same concept or convert.
Italian Restaurant for Sale in Town with Outdoor Dining and Patio
Lease: 5 plus 5 year lease
Monthly Rent: $6400
Inside Sq. Ft.
Outside Sq. Ft.
Price:$99,000
City:Decatur
This restaurant for lease nearby the world's busiest airport based on the number of flights and number of passengers daily.  This turn key location is ready for a new tenant today and you take over the assets with no charge at all!
Restaurant for Lease Near Atlanta Airport- Turn Key Ready!
Lease: 5+5+5 or 10+5
Monthly Rent: $4065
Inside Sq. Ft. 1623
Outside Sq. Ft. 100
Price:$0
City:Hapeville
A new restaurant for sale in Colorado with amazing outdoor space and very reasonable rent also came in on the restaurant broker's top ten list this month.  Well priced at less than $200,000, this one has more than 1/2 acre of outdoor space.
Denver Restaurant and Bar For Sale With Amazing Outdoor Space Great Rent
Lease: Negotiable with Owner Who Owns Building
Monthly Rent: $5000
Inside Sq. Ft. 8000
Outside Sq. Ft. 1/2 acre
Price:$185,000
City:Commerce City
This legacy seafood restaurant for sale that is closed now but has been in business as this type of concept for generations is ready to go for the right tenant.  Very reasonable rent inside the Atlanta metro. 
Seafood Restaurant for Sale at a Great Price with Tons of Used Equipment
Lease: 5 year term plus 5 year option
Monthly Rent: $2300
Inside Sq. Ft. 1100
Outside Sq. Ft.
Price:$29,995
City:Atlanta
This very reasonably priced franchise chicken wings restaurant for sale in Georgia attracted lots of buyers and interest to the phone lines of our restaurant brokers.   A lucky buyer is under contract for this one!
Franchise Chicken Wings Restaurant for Sale in GA 50% Owner Financing
Lease: 5+5
Monthly Rent: $2500
Inside Sq. Ft. 2000
Outside Sq. Ft. aprox 800 sq ft
Price:$59,000
City:Cumming
Many restaurant operators like to build their business by starting with a food truck and this highly profitable unit in Boca Raton.  The seller has a contract with an office building that generates a high return on his business.
Food Truck for Sale in South Florida is Profitable and Operating
Lease:
Monthly Rent: $
Inside Sq. Ft.
Outside Sq. Ft.
Price:$149,000
City:Boca Raton
Last but not least on the most popular list of businesses for sale in March 2014 was this bakery for sale in Georgia.  The well priced opportunity has been seen on national TV - adding to its popularity.
Bakery for Sale in Georgia Seen on National TV
Lease: 5 plus 5 year lease
Monthly Rent: $2500
Inside Sq. Ft. 1200
Outside Sq. Ft. 300
Price:$79,995
City:Grayson
In total, the first quarter of 2014 was a record breaking one in terms of the number of new listings, number of restaurants sold, selling prices and web traffic.  Buyers are definitely pouring into the market in record numbers.  For more information about these listings and many others, visit our website, wesellrestaurants.com
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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers Discuss Current Market Leasing Trends & Strategies

 

Restaurant Brokers Eric and Robin Gagnon of We Sell Restaurants are at it again…with the intent to satisfy our listener’s appetite for acquisition, feed the need for restaurant reality and serve up a recipe for business success.  The We Sell Restaurants show airs every Saturday at noon (12pm) in Atlanta on AM Talk 920 and Sunday at 1pm on BIZ 1190AM (The Wall Street Journal Network) in the nation’s 7th largest media market.

The Restaurant Brokers asked industry experts, Alan Shaw, Wayne Taliaferro and Jesse Tron to provide a market update on some very important topics to restaurant owners... the overall condition of the restaurant real estate market for those interested in leasing.  Are rental rates up or down?  What can you expect if you are in the market to lease a restaurant when it comes to negotiating power?  What do landlords want or demand of operators before considering them as a tenant?

But first, a snapshot about the guest’s weighing in on this week’s topic:

Alan Shaw:  An Atlanta native, Alan is the Senior Landlord Advisor at The Shopping Center Group in Atlanta.  Alan successfully represents national landlords and experienced regional and local developers for the day-to-day leasing of projects ranging from anchored/unanchored shopping centers, single tenant buildings, land, disposition of anchor boxes to the preleasing of new developments.  Alan began his career in real estate in 2002 and joined The Shopping Center Group in 2002.  Alan served as C-Chairman on the Chainlinks Landlord Council 2009-2012, has been a Committee Member on ICSC’s Southeast Convention where he organized the popular “Meet the Retailers” and has been consistently chosen by Costar as a “Power Broker” due to his high transaction volume.

Wayne Taliaferro:  Wayne is a valued member of the We Sell Restaurants Team as a Senior Leasing Specialist.  With over 30 years in commercial real estate experience; 20 years of which have been focused in the Atlanta market, Wayne brings expert knowledge and expertise in location selection and leasing.  Wayne specializes in putting together a comprehensive plan for multiple restaurant and retail site locations and executing through lease and site purchase.  Wayne is licensed in Georgia and Florida and has reciprocity with South Carolina.  He
has performed site selection as well as lease and acquisition negotiations for oever 250 locations for National restaurateurs in the Southeastern United States.  Wayne is also a member of the International Council of Shopping Centers (ICSC).

Jesse Tron:  Jesse is the Manager of Communications and Media Relations for ICSC, the International Council of Shopping Centers.  He has been at ICSC since 2008, where he is the spokesperson for the organization.  The purpose of the ICSC is to advance the shopping center industry and to promote its role in the commercial distribution of consumer goods and services by providing educational programs and publications, conducting meetings and other programs, collecting and disseminating information pertaining to the shopping center industry and
publicizing the industry to the general public.

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Taking a look at what the restaurant brokers and our industry experts had to say on the topic of the current restaurant leasing marketplace, Alan was very clear that it is absolutely imperative that those looking at a startup restaurant should “do their homework”.  Wayne’s advice included that “oftentimes first timers fall in love with a location which can be both good or bad”. 
“Weigh several options”, he added.  Restaurant broker Eric Gagnon also wanted Jesse’s perspective regarding a national outlook because the ISCS compiles data and research from all over the country.  According to Jesse, the restaurant industry is on the upswing...things are “positive…overwhelming positive, in fact.”  To hear the specific stats and more, please download the show on iTunes or on the wesellrestaurants website.

We Sell Restaurants is the nation’s largest restaurant brokerage firm based on the number of listings, transaction count and offices.  The company is franchising nationwide and has offices in Florida, Georgia, Colorado and Tennessee.  If you need assistance leasing the restaurant of your dreams, you may find us online at wesellrestaurants,com, LIKE us on Facebook or follow us the restaurant brokers on Twitter @sellrestaurants.  We Sell Restaurants is the industry leader in restaurants for sale and restaurants for lease.

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers on Equipping a Restaurant for Success

 

Foodservice Equipment & SupplyRestaurant Brokers Eric and Robin Gagnon interview restaurant equipment and supply experts this week on the country’s only national radio talk show focused on buying and selling a restaurant.   

How have restaurant equipment needs changed or evolved over the past few years?  What are the trends in restaurant equipment? What are the approximate costs to equip a restaurant? Industry experts offer up answers to these and more on the restaurant radio show hosted by Restaurant Brokers, Robin and Eric Gagnon. Listeners can tune in at 12 Noon EDT to Atlanta’s AM Talk 920 or Sunday at Noon on the Wall Street Journal Network Biz 1190AM

About This Week’s Guests:  The Restaurant Brokers are joined on this week’s show by the following expert guests on the topic of equipping a restaurant for success.

Joe Carbonara is the editor in chief of Foodservice Equipment & Supplies magazine, a position he has held since 2005. Joe also serves as editor of restaurant development and design magazine, Zoomba Group’s newest publication. In his role, Joe oversees the entire editorial process for both magazines from concept to completion. He regularly moderates webcasts
hosted by the magazine, too.  Prior to joining FE&S, Joe was a marketing manager for SmithBucklin Corp., where he spent six years working with NAFEM.

Nick Giagkou's unique experience in the food industry started as a 5 year old accompanying his father, a Greek immigrant and refrigeration technician, on service calls throughout the city of Chicago.  Fast forward 35 years later and Nick’s expertise in the food industry is not only in sales, but his technical and restaurant operational knowledge is unparalleled.  This intimate knowledge of kitchen operations equips Nick and his team at Olympic Store Fixtures to assist Restaurateurs with designing their Kitchens from the very fabric of their Restaurant’s DNA.  From the smallest of equipment design elements to large scale CAD Drawings, Nick and Olympic have done it all for some of the most well-known restaurants in Chicago and the Midwest, including: Trump (Sixteen), Sumi Robata Bar, Embeya, Feast, The Gage, Henri, Gilt Bar, Giordano’s, The Dawson, and many more.

Richard Gorowitz currently serves as the Sales Manager of Atlanta Fixture and Sales for over ten years. Prior to this, Richard held a position in Foodservice Manufacturing Sales with Broadline Foodservice Distributors coordinating with Broadline Foodservice Distributors throughout the state of Georgia.  In addition, Richard spent over seven years as a Territory Sales Representative in Foodservice with Ryfkoff Sexton and U.S. Foodservice.  

Weighing in on the topic of equipping a restaurant for success, the restaurant brokers asked the expert panel a series of questions important for any operator.  Joe Carbonara says "food service operators don't get into the business because they love equipment", and restaurant broker Eric Gagnon pointed out that operators are juggling a lot of needs these days...they have a lot on their plate (pun intended), budget constraints, some are working to be "green", their are space constraints and always ongoing operational and maintenance concerns. 

Restaurant Broker Robin Gagnon asked about the topic of assisting established restaurateurs.  Richard, of Atlanta Fixtures, mentioned that many seem to be switching from gas to electric these days; referencing a long-term well established local business that generally asks "What'll ya have?" upon entry that saved approximately $1M per year switching from a gas to an electric fryer.  Nick, also provided input here, stating he is seeing more and more competitive bids, seeking to repairs rather than replace in recent years.

The radio show is available for download on iTunes or online at www.wesellrestaurants.com.  Take a moment and LIKE the restaurant brokers on Facebook.com/wesellrestaurants or follow the restaurants brokers on Twitter @sellrestaurants.  We Sell Restaurants is your industry authority and source for information on all things restaurant related.

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers Interview Food Network's Kerry Vincent

 

The restaurant brokers host a radio show for this industry that is sure to Satisfy our listener’s appetite for acquisition, feed the need for restaurant reality and serve up a recipe for business success.  In this week’s show, which airs on Saturday at 12 Noon (Talk 920) and Sunday at noon on the Wall Street Journal Network on Biz 1190AM, catch the restaurant brokers as they interview Food Network star and Host of Save My Bakery.

Stale bakeries turn to expert Kerry Vincent to revive their sweets and their sales in new series Save My Bakery which premiered on Wednesday, March 19th at 8pm ET/PT on Food Network. Armed with years of baking experience and a no nonsense approach, Kerry is on a mission to reinvigorate local bakeries, putting them back on their neighborhood radar. In hopes of also mending the strained relationships behind the struggling establishments, Kerry helps families heal and put the pieces of their failing business back together. From bolstering old doughnut recipes to improving employee morale, Kerry turns poor pastries into delectable desserts and outdated spaces into truly sweet spots.

For generations bakeries were the backbone of communities across America. Save My Bakery takes on the challenge of rescuing these businesses and the families behind them said Bob Tuschman, General Manager and Senior Vice President, Food Network.  Kerry Vincents deep expertise combined with her take charge manner is just what these families need to get back on their feet.

Master sugar artist Kerry Vincent was inducted into the International Cake Exploration Societe Hall of Fame in 2004, and then the Dessert Professional Hall of Fame in 2010. Vincent is the cofounder of the Oklahoma State Sugar Art Show and founder of the Grand National Wedding Cake Competition. A skilled designer, Vincent has invented unique techniques in sugar-craft, which include the Vincent Marquetry, and movement in stenciled or painted sugar flounces and skirting. Her signature cake recipes have been chosen as exceptional by Brides magazine in the first instance of the Top 50, and the Top 20 most beautiful cakes in America. Her cake design was also included in Brides invitational lineup for Cakewalk at Grand Central Station in New York. Vincent made her debut on Food Network as a judge on Food Network Challenge. She is also a successful author, freelance writer, international presenter and wedding-cake-style advisor and designer.

The reality of the restaurant business says these restaurant brokers on the heels of their interview with Food Network host Kerry Vincent  is this:  “We’ve learned today that even simple concepts can be very tricky and difficult to execute.”  That’s straight from restaurant broker Eric Gagnon on this week’s show.  Robin Gagnon weighs in as well as the restaurant brokers tackle topics like, “Is a sandwich shop or bakery really as simple as one might think?  What about limited hours of operation or low average ticket prices? ” In the restaurant reality segment, these experts share the unbridled truth  about the industry.  

At the conclusion of their popular Restaurant Reality segment of the show, Restaurant Brokers Eric and Robin Gagnon previewed restaurant for sale listings available on their website.  These included, 

  • Georgia Coffee Shop and Bakery for Sale featureing great bagels and sandwiches. Easy to run operation with limited hours is ready for new owner
  • Bakery for sale in south Florida specializes in cakes for all occasions. Client list and equipped kitchen with retail space are included with sale.

We Sell Restaurants is the nation‘s largest restaurant brokerage firm based on the number of listings, transaction count and offices.  The company is franchising nationwide and has offices in Florida, Georgia, Colorado and Tennessee. 

LIKE this article?  Please SHARE it on Facebook, Linked In or Twitter.

 

 

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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Top Ten Restaurants for Sale in February 2014

 

The top ten restaurants for sale last month had a clear "leader of the pack" as the restaurant brokers announced a Subway restaurant franchise for sale in Georgia.  This hot listing had the phones ringing, the website buzzing and the town talking.  We received multiple offers in a matter of days and have two contracts in place from buyers going through the Subway approval process.  That certainly demonstrates the impact of supply and demand.  A Subway restaurant for sale is a rare find as a single unit since most transfer into the hands of other franchisees rather than hitting the open market.  That being said, the restaurant brokers have a second Subway franchise restaurant for sale in Connecticut that is also generating strong interest. 

  Subway Restaurant Franchise for Sale in Georgia
Lease: 5 Years Ending 2018, Options
Monthly Rent: $1617
Inside Sq. Ft. 1400
Outside Sq. Ft.
Price:$169,000
City:Metro Altanta
 
Those on a quest to go mobile were excited to see the restaurant brokers list a Mobile Food Truck for sale this month and it came in as the second most popular listing.  This fully equipped mobile unit is waiting for your logo on the side and your recipes from the kitchen!  It is ready to roll into a food park near you as a fully functioning restaurant. 
  Buy this Restaurant and Go Mobile! Food Truck for Sale
Lease: Up to You
Monthly Rent: $You Decide
Inside Sq. Ft. 200
Outside Sq. Ft.
Price:$85,000
City:Atlanta
 
QSR leads the restaurant pack right now in sales performance so it's no wonder that this unit in Deerfield Beach Florida with very reasonable rent got our restaurant buyers excited.  
  Turnkey Quick Service Restaurant (QSR) for Sale in Deerfield Beach
Lease: Series of one year options
Monthly Rent: $1700
Inside Sq. Ft. 850
Outside Sq. Ft. 200
Price:$59,000
City:Deerfield Beach
 
Mama mia, this Italian restaurant for sale got buyers talking.  The owner financing on this restaurant for sale was a big hit with our buyers.  Our phones and website inquiries were certainly busy with the gorgeous little property that only hit the market in the month of February and was our third most popular restaurant for sale. 
  Italian Restaurant for Sale with Owner Financing for Qualified Parties
Lease: 5 years
Monthly Rent: $4820
Inside Sq. Ft. 5800
Outside Sq. Ft.
Price:$99,000
City:Norcross
 
Restaurant broker Ken Eisenband in Broward County has a winner on his hand with thie Pembroke Park restaurant for sale. The low monthly rental rate of just $1803 and a very manageable 1500 square feet made this listing attractive for both locals and those looking to relocate to the sunshine state.
  Restaurant for Sale in Broward County with Below Market Rent
Lease: Expires March 31, 2015 + 2 Five year Options
Monthly Rent: $1803
Inside Sq. Ft. 1500
Outside Sq. Ft. 100
Price:$75,000
City:Pembroke Park
 
Activity on this Franchise Chicken Wings restaurant for sale also made the top five this month as measured by the number of inquiries, number of signed confidentiality agreements and the activity by our restaurant brokers.  The owner is willing to finance half of the purchase price so the restaurant brokers feel certain we'll have an offer any day on this one. 
  Franchise Chicken Wings Restaurant for Sale in GA 50% Owner Financing
Lease: 5+5
Monthly Rent: $2500
Inside Sq. Ft. 2000
Outside Sq. Ft. aprox 800 sq ft
Price:$59,000
City:Cumming
 
This bistro and bar for sale in town was in the top ten in January as well and it is now under contract to a buyer for his latest concept.  The trendy location in town along with a beautiful design makes this one an instant hit with restaurant buyers looking to re-brand and turn over a restaurant to fit their own cuisine and ideas.
  Bistro and Bar for Sale In Town is Trendy & Priced to Move
Lease: 5 year and 7 months, plus 5 year option
Monthly Rent: $5871
Inside Sq. Ft. 2763
Outside Sq. Ft.
Price:$99,000
City:Atlanta
 
This barbeque franchise for sale in Florida is calling out for an owner operator after the seller decided to focus their energy on other business interests.  High activity pushed it into the top ten but we're still looking for a buyer. 
  BBQ Franchise Restaurant in Florida for Sale- Owner/Operator Needed!
Lease: 10 year lease
Monthly Rent: $3500
Inside Sq. Ft. 3000
Outside Sq. Ft.
Price:$99,000
City:Major Market
 
Almost last on the list (but not quite), this fully equipped restaurant that's served up seafood in the same location for more than four decades is a winning opportunity for someone who wants to begin in the business but has limited funds.  The landlord is telling us to bring him an offer and we need a contract on this one.
  Seafood Restaurant for Sale at a Great Price with Tons of Used Equipment
Lease: 5 year term plus 5 year option
Monthly Rent: $2300
Inside Sq. Ft. 1100
Outside Sq. Ft.
Price:$29,995
City:Atlanta
 
Last on the top ten restaurants and bars for sale in February was this Bar and Lounge in Metro Atlanta.  This one pumps out the music crazy loud while gorgeous women dance to the tunes from a master DJ.  Big earnings and strong potential on this one!  We expect it to sell any day now.
  Atlanta Bar and Lounge for Sale Features Big Earnings and Low Rent
Lease: 5 years
Monthly Rent: $2500
Inside Sq. Ft. 1700
Outside Sq. Ft.
Price:$125,000
City:Atlanta
 

That's the last of the hit parade of the most requested, viewed, talked about and overall hottest restaurant for sale listings in the month of February 2014.  The restaurant brokers will return next month with their top ten list for another month. 

 


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Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Restaurant Brokers Weigh In as Restaurant Sales Hit Icy Patch

 

Snowmaggeden 2014Who will ever forget the winter of 2014? The Snowmageddon in Atlanta made international news as roadways were blocked and cars stalled out in traffic unlike anything we've seen in recent history. School children slept in gyms or in buses, commuters were stranded for hours on the highway and the national guard was ultimately called in to deal with the disaster.

The impact of the storm is still being felt as restaurant sales across the country struggle under the weight of the icy winter served up by Mother Nature.  The Restaurant Brokers have been talking about the snowy hit to sales for the entire first quarter and now Technomic has revised its entire annual perfomance on the basis of the winter weather.  

Technomic is the Chicago based firm that serves as a research and consulting firm servicing the food and foodservice industry.  They just revised their entire 2014 forecast down after all of the severe weather that we have been experiencing.  In their recent release, they state that "the harsh weather conditions translate into foodservice sales being down 3 to 4 percent nationally and down 7 to 8 percent in weather-affected markets in January and February. As a consequence, full year industry projections suggest growth will be +2.5 to 3.0 percent versus an initially expected +3.5 to 4.0 percent."

That's a tremendous hit to sales in an industry that's been eeking out 3 - 4% gains for several years now. One of the Technomic principals, Wade Hanson says, "We expect that consumers will enthusiastically return to foodservice in the spring, but January and February have to be considered lost dining occasions for foodservice operators."  

Meanwhile the restaurant brokers are hearing from some unique operators trending as high as 17% above last year to those feeling the pain of missed sales in both January and February that are pushing sales performances down.  

Restaurant broker Eric Gagnon says, "The winter storm events in the Atlanta market served up a double whammy since one storm fell on top of the profitable Valentine's time period.  While February was quite tough for most operators, we are still talking to some chains and individuals who are operating with sales above last year."  That's not all according to the restaurant broker team.  Robin Gagnon reported, "What's very encouraging is that the tough winter has created some pent up demand for shoppping and dining.  With last weekend's Spring-Like conditions, we saw all the major malls packed and restaurants on a wait.  We anticipate that when first quarter sales are reported, white tablecloth or fine dining will be more adversely affected than fast casual concepts, continuing a trend of several years." 

The restaurant brokers will continue to report on the sales trend of the industry with the publicaton of first quarter sales results in April courtesy of the Net Financials survey produced by Bob Wagner.  

 

 

___________________________________________________________________________________________________________________________________________________________________________________________

Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

Atlanta Restaurants for Sale and Restaurant Sales Outpace Nation

 
sales increase

Two recent data points indicate the continued strength of the Atlanta restaurant marketplace.  While the restaurant brokers receive anecdotal data from restaurant operators on a routine basis, it's always helpful to compare this information to statistical data from multiple sources. In this article, we cite the results from the quarterly surveys that provide tracking of key elements over time.  The first is Net Financials which publishes a quarterly and year-end round up of Atlanta restaurant sales.  The second is BizBuySell which measures restaurant (business) for sale activity on a quarterly and annual basis.

CPA Robert Wagner released his latest report from Net Financials recently.  He says that "Atlanta restaurant sales volume continued to outpace national sales trends in the year and calendar quarter just ended."  His 2013 quarterly tracking survey for the entire year was positive saying, "Atlanta restaurant sales increased 4.5% and 4.6% for 2013 and Q4 2013, respectively. For both the year and quarter ended December "positive sales gains were reported at more than two-thirds of the 90 Atlanta restaurants surveyed."  The strength of those numbers are more dramatic when viewed against the U.S. economy for the same time period as Wagner note that Atlanta's growth occurred while, "national restaurant trends remained weak with little or no revenue growth and declining customer traffic."  

Net Financials compares the Atlanta results to other national tracking trends like Black Box Intelligence, a restaurant sales and traffic-tracking company.  They report Q4 revenues declined -.2% while same-store customer traffic declined -2.4%. For 2013 as a whole Black Box reported that restaurant sales declined -.1%. A separate national survey by NRN-MillerPulse reported a modest 1.1% sales increase for 2013.  That's another reason the Atlanta results look so good by comparison.

It's not only restaurant sales that look good for 2013, it's also restaurant for sale data.  The restaurant brokers recently shared additional national data on restaurants for sale published by Bizbuysell.  Their year-end report showed that transactions of restaurants for sale also increased in 2013 with small business transactions up 49% in 2013 led by restaurant sales and retail business sales.  Yearly restaurant transactions rose 78 percent in 2013 compared to 2012.  In their data, 1562 restaurants sold in 2013 averaging a sales price of $128,750 versus an asking price of $149,250 or 89% of asking price.

Robert Wagner, NetFinancials president states that, “By ‘Atlanta standards’ the 2013 sales results are routine. For the last three years quarterly and annual Atlanta restaurant sales increases have averaged 5%. But taking local trends out of the national context is like walking through a museum blindfolded. Atlanta’s restaurant sales growth is exceptional when viewed in a national context. Compare Atlanta’s 4.6% Q4 sales gain to a bellwether such as McDonalds where comparable USA sales declined -1.4% in Q4 2013.

What's driving Atlanta's relatively strong results?  Wagner says it's due to "robust Atlanta-area visitor traffic, local population growth and positive metro economic trends."  Local economists report the metro Atlanta unemployment rate dropped from 8.7% in December 2012 to 6.8% in December 2013.

How will 2014 stack up?  Restaurant Broker Eric Gagnon says, "2014 is off to a very tough start.  The winter storm weather will certainly impact first quarter sales results for the nation and in particular, the south.  Restaurants lost critical revenue due to multiple storms, one of which fell on the highly important Valentine week.  Other parts of the nation have also been affected by weather however, so we predict Atlanta will still finish ahead of the pack for 1st quarter 2014 as this market is extremely resilient."    

About the Data

The Net Financials sample is taken from 90 independently-operated, non-franchise restaurants drawn from the metro Atlanta market. Total 2013 survey sales volume was $218,941,368. The  sample includes restaurants in Atlanta’s fast-casual, casual and fine-dining segments open at least 24 months.

The BizBuySell.com Insight Report is published on a quarterly basis, reporting changes in closed transaction rates, valuation multiples and other economic indicators for the small business transaction market. Closed transactions are reported to BizBuySell.com on a voluntary basis by business brokers nationwide. 

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

___________________________________________________________________________________________________________________________________________________________________________________________

Restaurant Brokers Eric Robin GagnonBuying a Restaurant?  Contact restaurant brokers Eric and Robin Gagnon, founders of the national restaurant brokerage franchise, We Sell Restaurants.  We are industry experts, authors, speakers and radio show hosts. Our award winning book, Appetite for Acquisition, was named Best of 2012 by Small Business Book Awards.  It's been described as "the  definitive guide for anyone looking to enter the restaurant industry!" We have listed and sold hundreds of restaurants for sale on our powerhouse restaurant for sale website wesellrestaurants.com

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