Advice for Buying a Restaurant and Selling a Restaurant

Restaurant Brokers Radio Show - SBDC

Posted by WSR Operations on May 22, 2015 3:05:24 PM

May 22, 2015 – This week the restaurant brokers are talking about the Small Business Development Center or SBDC and why restaurant owners or would-be restaurant owners NEED to know about it. Small Business Development Centers (SBDCs) provide assistance to small businesses and aspiring entrepreneurs throughout the United States and its territories. SBDCs help entrepreneurs realize the dream of business ownership and help existing businesses remain competitive in a complex, ever-changing global marketplace. SBDCs are hosted by leading universities and state economic development agencies, and funded in part through a partnership with SBA.

SBDC advisors provide aspiring and current small business owners a variety of free business consulting and low-cost training services including: business plan development, financial packaging and lending assistance, exporting and importing support, disaster recovery assistance, procurement and contracting aid, market research help, 8(a) program support, and healthcare guidance.

With dozens of host networks branching out with hundreds of service delivery points throughout the U.S., the District of Columbia, Guam, Puerto Rico, American Samoa and the U.S. Virgin Islands, SBDC assistance is available virtually anywhere.

The Georgia State University Small Business Development Center is a public service unit that provides consulting and training to Georgia small businesses. They are a part of the Robinson College of Business and one of 17 Georgia SBDC Network locations. Their professional business consultants have a combination of advanced education and real-world experience.
 
On this week’s show, the guests including Jeff Patterson, the Director at the Georgia State Center and Ted Beveridge, a consultant for the group tell the restaurant brokers that, “Small Business is too big to keep in your head.”  They discuss the free consulting services of the SBDC and say that “most people coming in are looking for capital.”  Restaurant owners in start-up or expansion will all need a business plan.  The SBDC team helps owners prepare one for either capital or investment.  They also critique operator’s plans and tell the restaurant brokers that owners should “…get their thick skin on when it comes to business plans.”
 
Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.

This Week’s Guests:

Jeff Patterson
 
Jeff has extensive financial industry experience that includes leadership roles in credit administration, commercial lending, operations management, regulatory compliance, and audit administration. His expertise includes loan proposal and business plan preparation, cash flow management, budgeting, and customer satisfaction. He also has brokerage and financial planning training as well as his Commercial Lending Diploma from RMA. 
 
Ted Beveridge 
 
Ted spent six years as a successful small business owner prior to joining the Georgia SBDC Network. He has experience in every facet of small business operations and has developed specific expertise in the food and retail sectors. Mr. Beveridge also spent several years in corporate financial roles and is well-versed in quantitative functions like budgeting, financial planning, pricing, and cash-flow forecasting. Additionally, he spent four years conducting search-and-rescue operations in the United States Coast Guard.

Topics: buying a restaurant

Top 10 Listings by The Restaurant Brokers for April 2015

Posted by Robin Gagnon on May 17, 2015 1:03:55 PM

Wow!  May has been such a busy month that the restaurant brokers are late in publishing the Top Ten restaurants for sale in April.  Thanks to those of you that reminded us that you love this post and want to understand what's happening in the marketplace of restaurants for sale.  The top ten restaurants for sale last month by the Restaurant Brokers set new records for activity, signed confidentiality agreements and contact to our agents and franchisees. We measure all activity by the number of times someone contacts us to look at the restaurant for sale or restaurant for lease listings on our website.  We are definitely seeing a strong uptick in the marketplace led by some incredible lending resources funding SBA deals that are moving to the closing table quickly.  

Florida led the search.  Our most popular listing for April was this part of a 15-location chain in South Florida that has serving delicious pizzas in the area for over 50 years. What makes this listing interesting is the fact there are no royalties! This great restaurant comes with a fully equipped commercial kitchen and restaurant furniture. 

Pizzeria for Sale in Pompano Beach Part of Multi-Unit Group NO ROYALTIES
Lease: Expires October 31, 2024
Monthly Rent: $2120
Inside Sq. Ft. 1700
Outside Sq. Ft. 300
Price:$74,900
City:Pompano Beach

The next most popular listing is this BBQ restaurant in a great neighborhood of Kennesaw. This BBQ restaurant has an amazingly low rent of only $1,000 per month for a 2000 square feet space. All the BBQ equipment is already in place to get the new owner started. Priced to sell at $99,000 this one is a great deal!

BBQ Restaurant for Sale in Atlanta Metropolitan Area Nearby Kennesaw State
Lease: 3 years remaining
Monthly Rent: $1000.00
Inside Sq. Ft. 2000
Price:$99,000
City:Kennesaw

The third most popular listing last month was this Cinnabon franchise bakery.  This six figure earner went on the market, achieved multiple offers and sold in less than 30 days!  Operating in more than 55 countries, the Cinnabon brand has been serving delicious goodies for more than 25 years. This low effort concept with excellent training was perfect for those seeking an E-2 Visa.   

Cinnabon Franchise Bakery for Sale in Florida - Mall Location
Lease: New 10 Year Term Negotiated | Ready for Signature for New Owner
Monthly Rent: $5815
Inside Sq. Ft. 346
Price:$149,999


Number four on this list is another franchise restaurant for sale - Philly Connection. This store is listed by restaurant broker John Sparks for $75,000 with all the equipment and owner financing! 
Franchise Restaurant for Sale - Philly Connection with Owner Financing
Lease: 5 years/5 years
Monthly Rent: $1250 including all cams (NNNN)
Inside Sq. Ft. 950
Price:$75,000


Restaurant Broker and We Sell Restaurants franchisee, Ken Eisenband had incredible activity on his Pita restaurant in Ft Lauderdale.  That's his second entry on the top ten for the month. This Pita restaurant serves up favorite Mediterranean meals like hummus, shawarma, gyros and many more. This is a great deal for any owner looking for a location that focus ones Middle Eastern cuisine.
Pita Restaurant for Sale in Ft. Lauderdale Florida is Priced to Sell
Lease: Expires March 31, 2016 plus two five year options
Monthly Rent: $1462.80
Inside Sq. Ft. 1200
Outside Sq. Ft. 200
Price:$79,000
City:Ft. Lauderdale

Ranked number six, this Bar and Grill for sale in the Metro Atlanta market has it ALL!  If you are looking for an outstanding, profitable bar/restaurant with six figure earnings, at a very reasonable price, this is the unit for you! Pre-approved for SBA lending, fully equipped and highly profitable... No wonder this location is attracting a lot of attention from our buyers.
North Fulton Franchise Sports Bar and Grill with earnings over $100K
Lease: 2 Years plus 8 remaining
Monthly Rent: $10800
Inside Sq. Ft. 6400
Price:$249,000


Another bar and grill is next on our list. This one is a newly established location. Spacious location that sits on 3,000 SF with outside covered patio space. This is a top destinations for guests to watch their favorite sports, enjoy the pool tables, hookahs, signature cocktails, DJ music and food in a fantastic atmosphere!
Sports Bar and Lounge for Sale in Stockbridge
Lease: 2 years remaining and option
Monthly Rent: $3000
Inside Sq. Ft. 3000
Price:$75,000
City:Stockbridge
This chicken wings restaurant for sale combines two different concepts - Asian Hibachi, and everyone's favorite - chicken wings!  Restaurant Broker John Sparks fielded multiple calls and expects to have this unit under contract shortly. 
Asian and Chicken Wings Restaurant For Sale
Lease: 9 months into a 3-year lease. One option for one year.
Monthly Rent: $2200 including all CAMS
Inside Sq. Ft. about 1200
Price:$55,000
City:College Park

Looking for a turnkey business consistent growth and profits? This restaurant is perfect for you. Price to sell with financing available - don't miss out on this one.
Restaurant for Sale in Boca Raton Earns 6 Figures -PRICED TO SELL!! Owner Financing!
Lease: Expires 2019 with one option period
Monthly Rent: $3729.00
Inside Sq. Ft. 1065
Outside Sq. Ft. 400.
Price:$189,000
City:Boca Raton

Lastly, one more sports bar on our top 10 list... This is a "Cheers" type neighborhood sports bar and grill. This oe is located in a nice neighborhood of Dunwoody and offered at the steal price of $129,000.
Sports Bar for Sale! Own your Own Version of Cheers
Lease: Expires 2019 + 5 yr option
Monthly Rent: $4000
Inside Sq. Ft. 4000
Price:$129,000
City:Dunwoody

The list of the top ten continues to grow in the number of contacts, signed confidentiality agreement and calls to our restaurant brokers for assistance.  While first quarter transactions hit a record 22% increase over last year, the industry is still pacing at around 6% growth.  For more information about selling your restaurant, contact the restaurant broker today! 

Topics: restaurants for sale

We Sell Restaurants Outpacing Industy based on Bizbuysell Insight Report

Posted by Robin Gagnon on May 1, 2015 2:07:39 PM

Bizbuysell reports that Small Business Transactions are Up 6 Percent Over the Same Time Last Year.  Restaurant Brokers See Double Digits.

According to BizBuySell.com, the Internet's largest business-for-sale marketplace, "small business transactions continued at a strong pace in the first quarter of 2015, growing 6 percent from the first quarter of 2014. A total of 1,830 small businesses were reported sold in Q1, continuing a two-year trend of exceptionally robust activity in the business-for-sale market."  The firm cited "strong transaction activity and robust business fundamentals" as drivers in the uptick in activity.  We Sell Restaurants cite much stronger results. The nation’s largest restaurant brokerage firm says that by their count, transactions increased 22.2 %.

The BizBuySell full results are included in BizBuySell.com's Q1 2015 Insight Report, which aggregates statistics from business-for-sale transactions reported by participating business brokers nationwide.  The restaurant brokers at We Sell Restaurants participate in the survey results with their "solds" and "comps" are pulled into the data each time they update the listing marketplace.

The data from BizBuySell shows an increase in transactions for 2015 from 1726 to 1830 nationwide.  That is on the heels of a decrease over the first quarter for the prior year with 1897 businesses reported sold in 2013.  The survey data published by the group is shown in their graph below tracking each quarter since 2011.  

2015 Q1 Closed Small Business Transactions

Restaurants accounted for 376 transactions of the total deals reported by BizBuySell in the first quarter of 2015 or approximately 22% of the total sales.  That compares to 414 units sold in the same time period last year.  The national data shows a decline of 9.2% in the total number of restaurants sold nationwide.  

For the same period, the restaurant brokers at We Sell Restaurants saw unit activity increase 22.2%, reflecting the highest quarter of growth and highest number of units sold in the firm's history.  This is on top of double digit growth for each prior year.

2015 Q1 Small Business Sales by Sector

Restaurant Broker Robin Gagnon acknowledged the transactional activity for We Sell Restaurants saying, "We are seeing tremendous growth in franchise re-sell transactions.  This trend is fueled by societal changes including the turnover of legacy brands coming into ownership by Millenials who are ready to change these out for younger 'hipper’ concepts.  That's putting a lot of units into the marketplace and driving velocity on the newer brands for turnover."

“Baby boomers are both selling their restaurants and buying restaurants” says Eric Gagnon. “Many never went back into the workforce after the recession and are now looking for a new business of their own. We are seeing inventory with higher sales and earnings coming into the marketplace."

That is echoed in the Bizbuysell survey which stated, “A key reason buyers and sellers are entering the market in larger numbers is the improving health of small businesses in general. Financial indicators remained high in the first quarter of 2015, giving sellers hope that they can earn a high sales price and giving buyers optimism about the future of their potential acquisitions. The median revenue of small businesses sold in Q1 stood at $442,000, up from an even $400,000 at the same time last year. Median cash flow hit $104,000, which represents the highest median cash flow reported since BizBuySell.com started tracking this data in 2007.”

We Sell Restaurants reports similar results and though their transaction data is confidential, Robin Gagnon says, “Seller's Discretionary Earning (SDE) as a rate to sales is up over the prior year. This is driving pricing and multiples. It is not unusual to see multiple offer situations particularly when we offer groups of three or more stores."

What does the balance of 2015 hold?  "We've heard from our broker customers that they are seeing more qualified buyers capable of taking over the reins from sellers, specifically Baby Boomers ready to retire," Bob House, Group General Manager of BizBuySell.com and BizQuest.com, said, "Supply and demand fundamentals, combined with the improving financial performance of small businesses in general, should drive growth through the rest of the year."  

We Sell Restaurants President Eric Gagnon says, "We have more deals in the pipeline for 2015 than at any time in the company's 14-year history so we see no abatement in this trend.  In addition, we are seeing many more sales of two or three stores at a time versus a single unit opportunity.”  

We Sell Restaurants is the nation’s largest restaurant brokerage firm in terms of listing count, number of transactions and gross commission income. The firm is franchising their brand nationwide and allowing other brokers the benefit of their technology, business model and marketing efforts. Those interested in the We Sell Restaurants franchise can find more infomation at this link.

Topics: selling a restaurant

Top 10 Restaurants for Sale in March 2015 by We Sell Restaurants

Posted by Robin Gagnon on Apr 13, 2015 6:01:00 PM

The Top ten restaurants for sale last month by the Restaurant Brokers set new records for activity, signed confidentiality agreements and outreach to our expert staff. We measure all activity by the number of times someone contacts us to look at the restaurant for sale or restaurant for lease listings on our website.

The most popular listing for the month was a Restaurant for lease in the historic portion of Downtown Roswell.  The interesting thing about the popularity of this restaurant is that it was actually listed with another broker for an entire year!  The seller told us she never got a single showing.  We already have an offfer pending on this restaurant for lease.  Look for a new concept in this location by summer.

Listing ID:4488 Restaurant Broker John Sparks    
  Restaurant For Lease in Roswell's Historic District - Won't Last!
Lease: 5 year
Monthly Rent: $first year 3675
Inside Sq. Ft. around 1250
Outside Sq. Ft. outdoor patio could be added
Price:$0
City:Roswell
 

The second most popular listing for the month was a small tavern outside the perimeter in the Atlanta Market.This one is listed by Restaurant Broker John Sparks.  One of his favoite things about hthis listing is that it's ready to go for any new owner.  They can simply turn the key and be in business. On the market for under $100,000 with a liquor license in place - this is a winner!

Listing ID:4517 Restaurant Broker John Sparks    
  Tavern for Sale in Atlanta Great Location OTP Right Off I-75North
Lease: 5 years ending Aug 1, 2016
Monthly Rent: $3009
Inside Sq. Ft. approx 2052
Outside Sq. Ft.
Price:$99,000
City:Marietta
 
 The third most popular listing offered in March 2015 by the restaurant brokers was a sandwich shop for sale in Boca Raton.  This low price listing was only $79,000 and got a lot of looks for the month.
Listing ID:4423 Restaurant Broker Ken Eisenband    
  Sandwich Shop for Sale Boca Raton - Ideal for Breakfast Lunch Location
Lease: Expires October 31, 2018 plus options
Monthly Rent: $3350
Inside Sq. Ft. 1700
Outside Sq. Ft.
Price:$79,000
City:Boca Raton
 
 Number four on the hit parade of restaurants for sale in March was offered by Restaurant Broker Nona and hit the market as a brand new listing.  The large space that is fully equipped is ready to keep as the current concept or convert.
Listing ID:4519 Restaurant Broker Nona Kouzmanova    
  Fully Equipped Restaurant Bar for Sale in Duluth Ready for New Owner
Lease: Seven Years and Four Months
Monthly Rent: $5072
Inside Sq. Ft. 2400
Outside Sq. Ft.
Price:$180,000
City:Duluth
 
 The theme continues with high interest in bars and pubs for sale this month.  George listed a new bar for sale in Dunwoody that he described as "Your version of Cheers".  This got the phone ringing!  This listing in Dunwoody is offerred at $129,000.
Listing ID:4487 Restaurant Broker George Hilliard    
  Sports Bar for Sale! Own your Own Version of Cheers
Lease: Expires 2019 + 5 yr option
Monthly Rent: $4000
Inside Sq. Ft. 4000
Outside Sq. Ft.
Price:$129,000
City:Dunwoody
 
This Pita restaurant for sale in South Florida got a lot of attention.  The well priced opportunity has super low rent of under $1500 perr  month for a 1200 squre foot location with a patio in South Florida!  Well priced at only $79,000, this business is easy to run and perfect for an E-2 visa candidate. 

   
  Pita Restaurant for Sale in Ft. Lauderdale Florida is Priced to Sell
Lease: Expires March 31, 2016 plus two five year options
Monthly Rent: $1462.80
Inside Sq. Ft. 1200
Outside Sq. Ft. 200
Price:$79,000
City:Ft. Lauderdale
 
 It is rare that the restaurant brokers list anything under $50,000 so this restaurant for sale in McDonough is a great opportunity.  Keep it as seafood or change it to your own concept - it's fully equipped and ready to go.  Rent us just $1150.00 a month so you can get into business quickly with this seafood restaurant for sale. 
Listing ID:4507 Restaurant Broker John Sparks    
  Seafood Restaurant For Sale is Small and Easy to Operate!
Lease: in 3rd year of 3 year lease, one 1 year option
Monthly Rent: $$1150NNN
Inside Sq. Ft. approx 975
Outside Sq. Ft.
Price:$45,000
City:McDonough
 
 Papa Johns is one of the largest franchise brands for pizza in the world and this three store pacakge got lots of lookers!  It's already under contract by restaurant broker Eric Gagnon who snagged a buyer in just a few days and is closing by the end of May.  Keep looking at those franchise restaurants for sale to surface!  3 store deals are a mini-chain and our buyers love them. 
Listing ID:4404 Restaurant Broker Eric Gagnon    
  Franchise Pizza Business for Sale - 3 Papa John's Restaurants for Sale
Lease: 1: Expires Nov 2016 + option to extend | 2: expires July 2017 + 5 yr option | 3: Expires April 201
Monthly Rent: $1557 | 1250 | 1250
Inside Sq. Ft. 1800 | 1500 | 1200
Outside Sq. Ft.
Price:$399,000

 
 Ready to be beach bound?  Buy this sports bar and grill in Broward County!  The lease rate is $7500 per month for an oceanside location!  Grab the tourists at this beachside getaway.
Listing ID:4486 Restaurant Broker Ken Eisenband    
  Sports Bar and Grill for Sale in Broward County! Beach Front Location!
Lease: Expires May 31, 2019 plus (2) five year options
Monthly Rent: $7500
Inside Sq. Ft. 2800
Outside Sq. Ft. 700
Price:$699,000

 
 Last but not least.  This restaurant space for lease in downtown Atlanta generated a lot of activity for the restaurant brokers.  Located on a college campus, the lease can be negotiated on rental terms of under $5000 per month. 
Listing ID:4277 Restaurant Broker Eric Gagnon    
  Restaurant Space for Lease in Atlanta - Near Major Downtown Universities
Lease: To Be Negotiated
Monthly Rent: $4995
Inside Sq. Ft. 2900
Outside Sq. Ft.
Price:$25,000
City:Atlanta
 
March 2015  was another record breaking month in terms of website traffic, inquiries and requests for information from the many restaurant buyers in the market.  Overall, traffic is on the huge upswing and transactions have never moved quicker. 

Topics: buying a restaurant

Restaurant Brokers Interview Beer Specialists!

Posted by WSR Operations on Apr 3, 2015 5:46:46 PM

April 3, 2015- Bottoms Up! Today the restaurant brokers are getting the scoop on what is on tap in the world of beer.  A drink with a rich legacy is getting a lot of attention from customers, social media and marketers alike. - How are local breweries, craft breweries and flavor profiles changing the traditional marketplace? Join us as we interview the owners of your favorite brewery
 
Ryan Macina of ‘World Of Beer’ gives his unbiased view from a retail perspective – representing almost 30 breweries only in the Atlanta area, Ryan thinks the tap really depends on the seasons; with seasons the consumers flavor demand changes and so does the beer. The consumer does want change!
 
Zak of SweetWater Brewery describes the beer industry as “changing” and “growing”. Drawing a parallel to the food industry, Zak believes the beer industry is going hand in hand with the food industry and evolving with time. Is it changing for the best? – Join the restaurant brokers and find out!
 
Erika of DRAFT Magazine shares her expertise on the matter and says that the “availability of flavor” from a consumer perspective is UNBELIEVABLE! Erika thinks the experimentation with spices and other food ingredients in the production of beer is what is keeping everyone at the top of their game. Producers are not only coming up with new flavors, but are resurrecting all the classic styles of beer.
 
Join the restaurant brokers and these experts on Breweries as they discuss what is on the tab in the world of beer! Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.
 
This Week’s Guests:
 
Ryan Macina
Ryan grew up in the Tampa/Clearwater Florida area.  He worked in the hospitality industry, restaurants and bars to get himself through college.  Being in the right place at the right time, he was introduced to the owners of WOB and became their very first employee back in 2007.  When he’s not working, you’ll find him on his mountain bike blazing new trails!
 

Zak Schroerlucke
An Atlanta native who's held quite a few positions at SweetWater over the last seven years.  I started as a "parking guy"' when I was in college, worked my way into giving tours, became our bar and events manager and now run field marketing in Atlanta and Athens as well as assist in many other departments throughout the brewery. Community outreach is my favorite part of what I do. Anytime I get to connect with the community, especially through environmental organizations like The Georgia Conservancy or Waterkeeper Alliance, it gives me a feeling of fulfillment I don't get anywhere else. I can truly say I have a dream job.
 
Erika Rietz

Erika Rietz is the founder and editor of DRAFT Magazine. She started her career in journalism as a senior editor in the financial sector and as an editor of a luxury lifestyle magazine. In 2006, at the age of 26, Erika launched DRAFT Magazine, with the intention of speaking to a newly emerging craft beer audience with an eye toward lifestyle, or, “Life on Tap.” DRAFT taps into the freshest flavors, unique experiences and emerging trends in beer, plus food, travel and leisure for a 360-degree view of the modern drinker’s lifestyle. Erika grew up in Owatonna, Minn., and attended the University of Virginia. She lives in Scottsdale, Ariz., with her husband, Dr. David Fusco, a neurosurgeon. Active in her community, she’s worked as a group facilitator for grieving teens and is President of the Arcadia Figure Skating Club.

Topics: buying a restaurant

Franchise Finance - Getting Your Financial House in Order

Posted by WSR Operations on Feb 25, 2015 2:30:03 PM

February 21, 2015 – This week we are preparing your franchise brand for financing. We are talking with funding experts and are going to analyze the steps to getting your franchise house in order! We are weighing in on why lending is the key to expansion. As the market progresses lots people are excited about owning a franchise. Taking the right precautionary steps in accurate financing is essential to your business. We brought in financial experts to give their opinions on how you can be successful owning a franchise. 
 
Denise explained during our interview that the banks are looking for assets claims. The banks want to make sure that you are financially secure and will be able to handle the responsibility for repayment. Banks want to help small business and make you financially successful. “Capital access is there” she says.  
 
Frank Gallagher had similar advice. He stressed the importance of being organized and making a good impression on the banks. “Have all your paper work, and documents in place. The more complete your information is you have less chances for delay.” This is really important if you plan on starting your business really soon. Make sure that your financial advisor is proficient in the up keep of your documents.
 
Lastly Ron Feldman stresses the important of the SBA. The Small Business Administration is a great tool on finding out advice and getting quality information on your business. Ron utilizes the SBA for his clients and tells them research extensively on your business. “The more information you have, the better off your business will be.”
 
Join the restaurant brokers and the experts on franchise financing as they discuss the great tips on keeping your financial house in order. Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.
 
This Week’s Guests:
 
Denise Thomas – ApplePie Capital
 
denise-1Denise Thomas, CEO and Co-Founder of ApplePie Capital. Headquartered in San Francisco, ApplePie Capital is a marketplace lender that provides a fresh new approach to franchise financing. The franchise loan marketplace enables franchise entrepreneurs to efficiently access the capital they need to start or expand their 
APC-Logo-1
businesses. This previously difficult-to-access asset class of franchise loan investments offers investors the ability to earn attractive risk-adjusted returns with the brands they know and trust. ApplePie Capital believes in the power of the franchise industry to create economic growth and jobs, and is committed to fueling that growth by bringing market participants together in a whole new way.
 
Denise founded ApplePie Capital to create a new, more efficient source of capital for franchise businesses. Denise has more than 20 years of executive leadership experience in business and market strategy development. Her public and private company expertise spans the financial services, technology, healthcare, hospitality and online services industries, and she has led companies backed by leading venture capital firms, including Kleiner Perkins, Mohr Davidow and Sequoia Capital.
 
Denise has founded three other companies, and held executive and management positions with SharesPost, Healthiest You, Navigenics, LesConcierges, OffRoad Capital, Onyx Microcomputer, Post Communications, Kao Infosystems, and National Semiconductor. She has been a guest lecturer at both the Stanford Graduate School of Business and the Haas School of Business, University of California Berkeley.
 
Frank Gallagher – United Community Bank
 United_Bank_logo-1
Frank Gallagher, the Senior Vice President and SBA Manager of Franchise Lending at United Community Bank. United Community Banks, Inc. is a bank holding company based in Blairsville, Georgia, with $7.4 billion in assets. The company's banking subsidiary, United Community Bank, is one of the Southeast region's largest full-service banks, 
FrankGallagher-1
Frank joined as the SBA Franchise National Manager. Frank has more than 15 years of experience in SBA lending, with a focus in the franchise lending space and over 25 years’ experience in lending to small and middle market companies. Prior to United, Gallagher served primarily as a Regional Account Manager for CIT and has also held positions in risk management, business development, credit underwriting, portfolio maintenance, and loan closing, collections and loan closing.operating 102 offices in Georgia, North Carolina, South Carolina and Tennessee. The bank specializes in providing personalized community banking services to individuals, small businesses and corporations. Services include a full range of consumer and commercial banking services, including mortgage, advisory and treasury management products. United Community Bank is consistently recognized for its outstanding customer service by national survey organizations.
 
Ronald Feldman – FranData
 
FRANdata_logo2014-1
Ronald Feldman is Chief Development Officer at FRANData. Ron Feldman utilizes his knowledge and experience with 
Ron_Feldman_speaker-1franchise finance to improve the flow of capital to the franchise community. His efforts build upon FRANdata’s financing solutions for franchisors that assist their franchisees with the financing process. Feldman is also a principal at Franchise America Finance and Siegel Financial Group and continues to serve as their Chief Brand Strategist. 
He is often called upon to be a keynote speaker at franchise-related events, and has appeared on television programs championing the cause of small businesses. Feldman has been published numerous times in trade magazines, and is the instructor-of-choice and subject matter expert on financing and capital access to the International Franchise Association (IFA)
.

Topics: buying a restaurant

Restaurant Brokers Interview Restaurant Startup Star Antonia Lofaso

Posted by WSR Operations on Feb 13, 2015 12:13:20 PM

February 14, 2015 –. The restaurant brokers interview one of Americas most loved Chefs - Chef Antonia Lofaso on their recent radio show.  Known for the star power she brought to Top Chef Season 4, Chef Lofaso is now on CNBCs Restaurant Startup with Joe Bastianich and Tim Love where they are on a quest to discover, develop and invest in Americas next generation of culinary superstars. Chef Antonia is the culinary consultant to the two restaurant moguls who battle against each other to invest in concepts where they can make big profits. Join the Restaurant Brokers as we interview Chef Antonia Lofaso.
Chef Antonia Lofaso is a Chef, Restaurant Owner, TV personality and mother known for her contribution to the food industry.  The restaurant brokers asked her about getting to this stage of success in her career and she recalled her early days.  According to the successful chef, it all started with a lot of “Minimum Wage. Head Down" and the ever present, "Yes, Chef" to the person in charge of the kitchen.  She freely admits the industry is challenging, calling it the “hardest and most passionately rewarding" industry out there. As a young chef on Season 4, she describes her Top Chef experience as one that left her "Scared out of my boots, in a fetal position." Scared out of her boots no longer, this feisty, friendly and approachable Chef is now starring in another hit show along with icons of the industry, Joe Bastianich and Tim Love. She describes life in front of the camera and her new show “Restaurant Startup.”
 
Join the restaurant brokers and Chef Antonia as they discuss the secrets behind running a great restaurant. Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.
 
This Week’s Guest:
 
Chef Antonia– Restaurant Startup
 
Best known for her role on Top Chef (season 4), Antonia Lofaso is one of America’s most loved chefs and shows off her culinary skills with her feisty Italian personality on Top Chef: All Stars. Most recently Lofaso has gone from television personality to business owner and is currently executive chef and owner of Black Market in Studio City, California. Fans of her restaurant on the west side can now experience her creations closer to home as she currently opened Scopa; Italian Roots in Venice, California.
 
With a lifelong passion for cooking, Lofaso chased her dreams and has managed to balance her busy career with being a single parent. She shares her secrets and tips in her book “The Busy Mom’s Cookbook” re-released in paperback this fall (2013). Lofaso attended the prestigious French Culinary Institute, and upon graduating was hired at Beverly Hills’ best known restaurant, Wolfgang Puck’s Spago. Under the mentorship of Executive Chef Lee Hefter, Lofaso refined her skills and technique, and spent six years working at the famed LA hotspot.
 
After mastering the cuisine at Spago, Lofaso made the difficult decision to leave and pursue a new adventure. Within weeks, she was hired by SBE to run the kitchen at their new upscale L.A. supper club, Foxtail. Upon starting her new role at Foxtail, Lofaso’s career encountered a monumental boom when Bravo came calling and recruited her for season 4 of its highly acclaimed cooking competition show Top Chef. In addition to her restaurant and television experience, Lofaso can also include private chef to some of Hollywood’s biggest stars in her repertoire. She currently resides in Los Angeles with her daughter Xea.

Topics: buying a restaurant

Top Chef Contestants On the Air with the Restaurant Brokers

Posted by WSR Operations on Feb 4, 2015 1:45:20 PM

February 7, 2015 – The restaurant brokers Eric and Robin Gagnon are racing their way to the Top! This week we are talking to past contestants of Bravo TV’s Top Chef. What was it like on an adventurous season on one of Bravo TVs highest rated shows where chefs battle it out? Where are these chefs now and how has this national television exposure changed their careers? Join the restaurant brokers as we get the inside scoop on life before, during and after Top Chef
 
Chef Betty Frasier, one of the competitors on Top Chef explains that the show prepares you to stay on your toes and constantly stay creative.  She says it’s “Hats off to every chef that makes it through one more round.” The competition involves a constant elimination process. The chefs are brought to the season's host city like Los Angeles or New York which typically inspires themes throughout the season. The chefs live in a provided apartment or house during the course of the season, and normally do not have any outside communication. Each episode, the chefs participate in a Quickfire and an Elimination challenges. This format continues until two or three chefs remain, where each is challenged to create a full course meal; the chef with the best meal as determined by the judges is declared the Top Chef of the season. Near the end of the season, when only four to five chefs remain, the show moves to another host city to finish out the competition. “Your blood definitely get boiling” says Chef Frasier.
 
Ed CottonChef Ed Cotton, a season 7 competitor says that “the competition is far from ordinary.” The constant anticipation of getting eliminated can really take a toll on how someone performs. This first runner up contestant from season 7 who survived elimination over 16 other chefs also say, “We have to constantly be creative.”  He referrers to himself as the “Chef’s Chef” because of his expertise and knowledge of the food industry. During his radio appearance with the restaurant brokers, reveals his secrets on how to become the best at what you do and what got him to the final competition.
 
Chef Joy Crump says the Top Chef show “Mastered the craft of keeping us on our toes.”  Chef  Crump began her culinary career in Los Angeles where she worked as contract caterer for the president of Capitol Records and hosted large-scale functions for musicians and executives. What’s it like to switch gears and cook for Padma Lakshmi, host of Top Chef?  The guests are very flattering of the star saying, “She is lovely” “She has a heart” and most importantly, “She has a great palate.”
 
Join the restaurant brokers and their guests as they discuss the trials they endured from being on Top Chef. Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.
 
This Week’s Guests:
 
Chef Betty Frasier 
 
Chef Betty Fraser is the co-owner of the popular Hollywood restaurant Grub and long established As You Like It Catering. A second season alumnus of Top Chef, Betty also appeared on the Top Chef Holiday Special and Top Chef Masters. In addition to her work as a chef and restaurateur she’s a frequent guest chef at food and wine events throughout the nation where she shares techniques for her signature “California Comfort Food.”
 
Chef Ed Cotton
 
Chef Ed Cotton! Ed is the Executive Chef of Sotto 13, a boutique Italian restaurant in the West Village. Prior to Sotto 13, Chef Cotton was Executive Chef at David Burke Townhouse. A seasoned veteran, Chef Cotton has honed his craft serving in top positions in the kitchens of some of the most respected chefs in the world including Daniel Boulud at db Bistro Moderne and Restaurant Daniel; Laurent Tourondel at BLT Market in the Ritz Carlton; David Burke; award-winning chef Barbara Lynch at acclaimed No. 9 Park in Boston; and Todd English at Olives and Figs. Chef Cotton spent six seasons on Food Network’s "Iron Chef America” as Sous Chef to Iron Chef Cat Cora. In addition, Chef Cotton earned a top spot on Bravo’s "Top Chef”, season 7, where he cut his way through intense competition finishing as runner-up. Ed is a graduate of the Culinary Institute of America.
 
Chef Joy Crump
 
Chef Joy Crump has a culinary style rooted in Southern, home-cooked tradition. Joy Crump crafts the seasons’ best locally-sourced and organic ingredients into comfortably refined dishes at FOODĒ in historic downtown Fredericksburg, Virginia.
 
Crump began her culinary career in Los Angeles where she worked as contract caterer for the president of Capitol Records and hosted large-scale functions for musicians and executives.  While in Los Angeles, she also worked on private events for Warner Bros. Television and served as private chef for actors and executives on Warner’s television series and feature films.
 
In 2005, Crump moved cross-country to Atlanta, Georgia where she enrolled at the Art Institute of Atlanta. While earning her degree, she studied under Chef Bradley Rouse, head chef for the Atlanta Hawks, and worked to develop specialized menus for NBA athletes and their families.
 
Following graduation, Crump began an apprenticeship at Woodfire Grill under Chef Michael Tuohy – an industry pioneer credited with bringing organic farm-to-table culinary practices to the Atlanta restaurant scene. During her tenure, Crump grew her skills in meat curing, butchery, fruit preservation, sauce-making and wine-pairing. When the Woodfire Grill’s ownership was turned over to Chef Kevin Gillepsie in 2008 (“Top Chef” Contestant, Season 6), Crump continued to work on his team for two years.
 
Crump has had the honor of cooking directly with some of the South’s finest chefs, including Virginia Willis, author of the nationally-acclaimed cookbook, “Bon Appetit, Y’all; Chef Ford Fry, Chef/owner, JCT Kitchen & Bar, The Optimist, King & Duke and St. Cecilia; Chef Hilary White, Chef/owner, The Hil at Serenbe Farms; Chef Scott Peacock, former Executive Chef at the award-winning restaurant Watershed in Decatur, and Chef Kevin Rathbun of Rathbun’s, Krog Bar, KR Steakbar and Kevin Rathbun Steak. 
 
In 2008, Joy founded FOODĒ as a home-based private event and catering company in Atlanta.  In 2010, FOODĒ grew to a physical location on Caroline Street in Historic Downtown Fredericksburg, Virginia.  There, Joy is the executive chef and co-owner.  She and her team pride themselves in putting their key philosophy into practice for their guest and clients – providing market-fresh meals in a comfortable environment. In 2014, Joy was one of sixteen contestants on the twelfth season of Bravo’s Top Chef.

Topics: buying a restaurant

Top 10 Restaurants for Sale in December 2014 by We Sell Restaurants

Posted by Robin Gagnon on Jan 30, 2015 6:08:45 PM

December is a traditionally slow month for transactions but December of 2014 broke all records
for website hits, buyer activity, signed confidentiality agreements and calls to our Certified
Restaurant Brokers for more details on our listings. Two franchises made the top ten along with
two bar or pub opportunities and two Italian restaurants.  The balance of the month’s most
popular restaurant for sale listings were spread between frozen yogurt shops for sale, lease
spaces and other varied concepts. 

The top two listings for the month went to Eric Gagnon who scored a lot of traffic on a Bar and Grill
in Cobb County Georgia. This local pub was a huge hit with buyers that want to acquire the assets
of a business and make it their own.  The low pricing at under $50,000 for a fully equipped bar
drove much of the activity on this one. 

Bar and Grill for Sale - Local Pub Ready for New Owner! It's a Steal!
Lease: expires July 2016
Monthly Rent: $5570
Inside Sq. Ft. 4000
Outside Sq. Ft.
Price:$49,000
City:Marietta

A three store Papa John’s deal for Florida was a big winner with buyers seeking franchise
restaurants for sale and multiple units. This easy to run operation that transfers with training from
the brand, well known processes and stores that have below market leases.  We haven’t
wrapped up an offer on this one yet but it is certainly well on the way to being sold. 

Franchise Pizza Business for Sale - 3 Papa John's Restaurants for Sale
Monthly Rent: $1557 | 1250 | 1250
Inside Sq. Ft. 1800 | 1500 | 1200

Price:$399,000

The third most popular listing of the month was another franchise brand.  This franchise bakery
for sale turned a lot of heads with six figure earnings and a well develop client base.  The price at
only $265,000 was also a winner with restaurant buyers seeking a strong return on their invested
dollars. 

Franchise Bakery for Sale - Atlanta Bread Company 6 Figure Earnings
Lease: Valid thru Feb 1, 2023
Monthly Rent: $9572
Inside Sq. Ft. 4800
Price:$265,000

Despite the cold outside, we still have buyers focused on frozen yogurt shops for sale like the one
we featured in Atlanta.  This opportunity, in the heart of Buckhead, Atlanta’s most dynamic and
affluent shopping district was a hit among those seeking to get into the yogurt shop trend without
starting from the ground up. 

Frozen Yogurt Shop for Sale in the Heart of Buckhead
Lease: 3 years remaining
Monthly Rent: $2200
Inside Sq. Ft. 660
Price:$69,995
City:Atlanta

The outskirts of the metropolitan area – Roswell, was the location of the fifth most popular
restaurant for sale listing for the month.  This opportunity, priced at under $99,000 for a 2400
square foot facility is still on the market but the offers are getting serious and we hope to wrap up
the negotiations quickly on this one. 

Pasta and Pizza Business for sale by the Restaurant Brokers in Roswell
Lease: 3 years/option for 5
Monthly Rent: $4166 including all CAMS
Inside Sq. Ft. 2400
Price:$99,000
City:Roswell

A bar for sale in the Flowery Branch town nearby Metro Atlanta featuring Sports, Food and Fun
made the second half of the top ten when it was released in the month of December.This location
has a large bar and seats plenty of people in the more than 5850 square feet it occupies outside
the Metro Atlanta marketplace. 

Bar for Sale nearby Metro Atlanta Has It All, Sports, Food, Fun!
Lease: Expires 2018
Monthly Rent: $6500
Inside Sq. Ft. 5850
Price:$175,000
City:Flowery Branch

Italian wasn’t just popular in Atlanta.  Certified Restaurant Broker, Ken Eisenband’s listing in
David County drove strong activity as well and made its way into the top ten restaurants for sale
this month.  The long term lease opportunity with a five year plus five year option at good rental
rates attracted those looking to enter the business. 

Italian Restaurant for Sale in Davie Can Convert to Any Concept
Lease: Five years with 5 year option
Monthly Rent: $6587
Inside Sq. Ft. 2516
Price:$165,000
City:Davie

OTP or Outside the Perimeter in Cumming Georgia, a Family Style restaurant for sale in
Cumming generated strong activity as well and landed this business in the top ten. The
small and easy to manage location is only 1400 square feet, is fully equipped with a commercial
kitchen and has rent at only $1516.67 per month including all CAMS, taxes and insurance. 

Family Style Restaurant for Sale Features American Classics
Lease: 3/3, started 2/1/14
Monthly Rent: $1516.67 NNN
Inside Sq. Ft. 1400
Price:$99,000
City:Cumming

Owner financing is always a strong pull for buyers of restaurants looking to leverage their assets
and this restaurant for sale in Boca Raton earning six figures, got some buyers engaged in the
process.  The high earnings combined with owner financing was an opportunity that looked great
for many buyers. 

Restaurant for Sale in Boca Raton Earns 6 Figures - Owner Financing!
Lease: Expires 2019 with one option period
Monthly Rent: $3729.00
Inside Sq. Ft. 1065
Outside Sq. Ft. 400.
Price:$250,000
City:Boca Raton

Last, but not least, on the restaurant broker’s hit parade for the month was a former restaurant for
lease in downtown Atlanta with a Hood and Grease trap.  This space is being offered for no key money
and the landlord is ready to make a deal for the right tenant.  This is a free standing building and the
landlord is asking only $2300 per month for lease. 

Former restaurant for lease in Atlanta, Georgia - Hood and Grease Trap !
Lease: 5 year term plus 5 year option
Monthly Rent: $2300
Inside Sq. Ft. 1100
Price:$0
City:Atlanta

The December 2014 edition of the top ten restaurants for sale topped another record year in our markets
for restaurants sold.   Buyer activity as measured by restaurants sold, buyer inquiries, signed confidentiality
agreements and calls direct to our brokers indicate that interest is at an all-time high. 

Food Magazines Dish It Up on the Industry!

Posted by WSR Operations on Jan 30, 2015 1:38:41 PM

January 29, 2015 – What are the hottest trends in food straight from the editors and writers of food magazines? Food Editors and writers focused on foodies dish on the industry on this week's radio show. Has the newest health craze changed the perception of food? What cuisine is showing up on the pages and in the photos of magazines for 2015? Join the restaurant brokers as we talk food with influential food editors and writers from some of the top food magazines.
 
Nina Elder, executive food editor for Everyday with Rachael Ray tells the restaurant brokers that trends to look out for include “High Heat  - it brings a ton of flavor” and eating in a “fexitarian way.  Nina has a strong background in the editorial field with stints at national magazines including Better Homes and Gardens and Bon Appetite.  She is also a strong advocate for healthy living. In her interview with the restaurant brokers she explains the importance of chefs and their power to revamp their dishes to healthier alternatives. “Paleo is a lifestyle” she says so this trend has staying power while on the other hand, “Kale has peaked” and “Beets have emerged.”
 
Janet Helm, the chief food and nutrition strategist at Weber Shandwick tells the restaurant brokers that 2015 is the “year of the Bean.”  She reminds isteners to the popular radio show that there is a “rise of more plant based meals and “vegetables are now more “center of the plate.”  Janet has a substantial background in the editorial world and blogs for both Healthy Aperture and U.S. News & World Report. She believes that both taste and health can coincide and stresses that importance during the interview. Healthy eating can be tasty and beneficial. Her blog highlights out healthy recipes and transforms them for food for life.
 
Sharon Palmer, a registered dietitian with 16 years of health care experience participates in the show this week.  She says she channels her nutrition experience into writing features covering health, wellness, nutrition, and cuisine. Being in the healthcare industry has taught her the importance of healthy living and in her opinion, living a healthy lifestyle is not just about physical exercise but about the food you need for optimal health. ”Nuts and Seeds” she says, are going to be the new food craze of 2015..
 
Join the restaurant brokers and their guests as they discuss the secrets behind the pages of a successful food magazine. Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.
 
This Week’s Guests:
 
Sharon Palmer – Today’s Dietitian Magazine
 
Sharon has created an award-winning profession based on combining her two great loves--food and writing. As a registered dietitian with 16 years of health care experience, she channels her nutrition experience into writing features covering health, wellness, nutrition, and cuisine. Sharon is also a passionate writer about food and environmental issues, having published a number of features on plant-based diets, hunger, agriculture, local and organic foods, eco-friendly culinary practices, sustainability, food safety, and food security.
 
Over 850 of Sharon's features have been published in a variety of publications, including Better Homes & Gardens, Prevention, Oxygen, LA Times, Cooking Smart, and CULINOLOGY. Her books include The Plant-Powered Diet: The Lifelong Eating Plan for Achieving Optimal Health Beginning Today and Plant-Powered for Life: Eat Your Way to Lasting Health with 52 Simple Steps & 125 Delicious Recipes.
 
 Sharon is the editor of the acclaimed health newsletter, Environmental Nutrition and nutrition editor for Today’s Dietitian. She writes every day for her popular Plant-Powered Blog. In addition, Sharon is a nutrition advisor for the Old ways Vegetarian Network and will serve as a returning judge for the 2015 James Beard Journalism awards. She was the proud recipient of the Loma Linda University Distinguished Alumnus Award.
Living in the chaparral hills overlooking Los Angeles with her husband and two sons, Sharon enjoys visiting the local farmers market every week and cooking for friends and family.
 
Nina Elder – Everyday with Rachael Ray Magazine
 
Nina has been with Every Day with Rachael Ray since 2011 and became Deputy Food Editor in 2013. Before joining the magazine, she was a member of the editorial teams at Bon Appétit and Better Homes & Gardens Her work has been nominated for a Bert Greene Award by the International Association of Culinary Professionals, as well as a James Beard Foundation Journalism Award. After graduating from GHS and the University of Missouri, Nina moved to Des Moines, Iowa, for an internship at Midwest Living; next she moved on to become travel and features editor for Better Homes and Gardens magazine.
 
Her job at Better Homes provided a broad background in writing and editing stories not only about travel but also about health issues (she wrote the monthly Health Update column), children's ideas (she helped the parenting editor with features) and gave her an entry into writing about food and cooking. As executive food editor at Ray's magazine, Nina works with writers, photographers, designers, recipe developers and test-kitchen staff to create seasonal features and appealing articles about food and cooking with an emphasis on fast, easy recipes and creative ideas.
 
Janet Helm- Weber Shandwick
 
Janet Helm, a registered dietitian, nutrition blogger, Chief Food and Nutrition Strategist in North America at Weber Shandwick (a global public relations firm), and a cookbook author! Janet is the author of the blog Nutrition Unplugged, where she frequently addresses food and nutrition trends and the latest diet crazes.  Janet is also the co-founder of the Nutrition Blog Network and Healthy Aperture, the first online food photo gallery focused on healthy foods.  Janet recently published her first book with the editors of Cooking Light called The Food Lover’s Healthy Habits Cookbook.  She also blogs for U.S. News & World Report.

Topics: buying a restaurant