Advice for Buying a Restaurant and Selling a Restaurant

We Sell Restaurants Sells Pack House Restaurant in Charlotte, NC

Posted by Robin Gagnon on Dec 10, 2019 11:36:45 AM

We Sell Restaurants closes on another restaurant for sale transaction; the sale of Pack House, an iconic restaurant in Charlotte, North Carolina.  The buyer describes his experience as "just incredible."

We Sell Restaurants is pleased to announce the sale of The Pack House located at 500 E. Morehead Street in Charlotte North Carolina.  The buyer, Vishnu Palanisamy acquired the company from Treehouse Kitchen, LLC.  Justin Scotto, We Sell Restaurants Franchise Partner and Multi-Unit owner in the market handled the successful transaction.   

Packhouse Restaurant SoldThe Packhouse was a fine dining location in Charlotte for many years, described by The Charlotte Observer as, “an exploratory taste of vintage plates, bowls and casserole dishes”  The location will be relaunched under the brand, Boga Mexicana by the new owner, Vishnu Palanisamy who is bringing his existing concept from Europe to the Morehead Street spot.  The full service Mexican restaurant will offer homemade quality food including Tacos, Enchilada, Burritos and more.

The buyer, Vishnu Palanisamy, shared his thoughts on the service provided by We Sell Restaurants, saying, "I really feel blessed that you popped up on our horrendous search for an optimum restaurant space for the past two years.  Your co-operation, commitment and spontaneous willingness to help me not only on accomplishing the sale and lease deed but also on all aspects of restaurant functions were just incredible.”

He continued his high praise of Certified Restaurant Broker, Justin Scotto saying, “Your diligent involvement all through the process and especially your promptness on the final closing days were just awesome. All the members of our Team know the great value of your valuable help and support. I never dreamt of such a reliable and prompt help like the one you extended. On behalf of all my team members, I extend my sincere thanks once again. I will stay in touch and will keep you informed about the progress of our aspiration.”

Eric Gagnon of We Sell Restaurants said, “One of our core values is to Create a Customer Service Experience Worth Sharing.  From this buyer’s words, it appears that Justin Scotto, has once again, delivered upon the brand experience.”

Franchise Partner Justin Scotto is a Certified Restaurant Broker and Multi-Unit owner.  A graduate of the University of North Carolina at Chapel Hill, he lives in Charlotte and when he is not busy selling restaurants, he enjoys family time with his wife and five children.

Justin is also a member of the Carolinas-Virginia Business Brokers Association. Justin can be reached by phone at (704) 609-4460 or by email – justin@wesellrestaurants.com.

We Sell Restaurants is the nation’s largest restaurant brokerage firm, specializing in restaurants for sale, restaurants for lease and franchise restaurant resales.  Found online at wesellrestaurants.com, We Sell Restaurants offers services in 45 states nationwide.

Topics: Selling a Restaurant

We Sell Restaurants Gives Back in Broward and Palm Beach County

Posted by Eric Gagnon on Dec 3, 2019 6:33:41 AM

The team at We Sell Restaurants in the Palm Beach and Broward County franchises put their hands and hearts to work just before the Thanksgiving holiday to feed those in need.  

Thanksgiving hannah blog-1Hannah Eisenband led a South Florida team of volunteers to raise more than $3,000 for the Palm Beach County Food Pantry, Boca Helping Hands. Boca Helping Hands (BHH) is a community-based 501(c)(3) organization that provides food, medical and financial assistance to meet basic human needs as well as education, job training and guidance to create self-sufficiency.   

Hannah Eisenband began this passion project when she decided to create Thanksgiving Meal Baskets for Boca Helping Hands to distribute to local families in need during this holiday season. When speaking with friends, Hannah decided to expand on her original plan and make it a community event. Hannah and her team planned on assisting ten families in need with food baskets for the Thanksgiving holiday.

Hannah got in touch with dozens of community members and in the course of 24 hours, had not only met the original goal but tripled it. Food was purchased and fifteen baskets of love were prepared. Donations continued to come in and those funds were presented along with the baskets to Boca Helping Hands.

Over $750 was raised in the span of 48 hours. The We Sell Restaurants Charitable Trust matched that amount, creating donations in excess of $1500. An anonymous donor matched that amount creating more than $3,000 in both monetary and food products donated to Boca Helping Hand Food Pantry to help families in need.

We are so proud of the impact that We Sell Restaurants has made to our local community.

Topics: Restaurant Brokers

When the Music Stopped – We Sell Restaurants President on Challenges

Posted by Eric Gagnon on Nov 21, 2019 11:20:48 AM

Many of you may not know that I have experienced three ear surgeries in the last 12 months, all of which have left me fundamentally without hearing.  That creates a pretty large challenge as I LISTEN to people for a living.

I have been without hearing in one ear for my entire life, a fact most of my clients and business associates would have never known.  It didn’t stop me from pursuing an amazing career and learning English as a second language, (French is my primary language). 

How am I coping?  I use the same approach for different phases of this challenge that a buyer, a seller or a broker would use to keep marching forward. I also use a lot of prayers and self-motivation which are two universal tools that everyone should use daily.

Eric Music

Originally I was told by one of the best ear surgeons in the US that I had an 80% chance my hearing would improve with the first surgery and less than a 2% chance I would go deaf.  According to the specialists, my remaining ear issues in my only hearing ear would go away.

Translate this into a buyer’s language, “I’m buying a deal making strong money and proven books,” What can go wrong? Let’s do this!!”

We scheduled the first surgery and went through all the testing and pre-op questions.  In buyer language, we entered into a “purchase agreement” and did the first surgery. I was told to prepare for the worst -- up to three months with no hearing.  Once I woke up, to everyone’s surprise, especially the doctor’s, I could hear immediately!!  LOUD and clear. In a buyer’s world, this would be equivalent to, “Initial due diligence fantastic.  Almost too good to be true.” 

Unfortunately, three weeks later, my hearing started to deteriorate. The doctor thought it was probably an ear infection and said, “Take some meds, it will clear up.”  Two weeks later with no improvement, he says, “come see me.” I drive three hours each way so they can stick needles in my ear, do an audiogram and learn my hearing is rapidly deteriorating.  Then the doctor says, “What about wearing hearing aids?”  Remember, originally I heard perfectly from my single ear with no hearing aids. 

The Broker in me started to kick in and realized this was equivalent to, “Expect some changes in the deal terms.”

Shortly thereafter, once again my hearing deteriorated to the point the hearing aids were useless.  Back to the doctor. Read here: “Buyer is very upset with current condition, but due diligence is over so he can’t walk away from the deal and must find a solution.”

Doctor reveals that scar tissue is growing between the bones which impairs my hearing.  Solution:  Second surgery to laser out scar tissue and rebuild one of the bones. Read here: as a broker we’ve got new movement.  We find out why we have this problem and the seller is willing to fix it.  That’s great news.  Buyer is now happy with the offer and keeps moving forward.

Surgery #2 happens.  I wake up with slight improvement in hearing and even back to my best hearing performance with the hearing aids two weeks later. Buyer thinks, "All problems fixed. Everyone is happy and we accept some compromise - let’s go to closing!”

Wait a minute.  Four weeks later, back to square one. Hearing has dropped beyond hearing aid capacity and declining. The broker in me is thinking, “Maybe this isn’t the right deal for everyone but how do we minimize damages?”

At this point the right thing to do was to walk away from this deal and find a new and better one.  The new deal for me becomes a new doctor at the University of Arkansas Medical Center thousands of miles from home.

His assessment:  Plan A: A new surgery to replace two bones with titanium parts that scar tissue won't cling to.  Success will be hearing fine with hearing aids without any loss over time.  Plan B: if plan A fails, we will do a cochlear implant in 60 to 90 days later and this will work. As a broker, I like the “no surprises” approach.  Always be ahead of the game, with a backup plan. This was music to my non-hearing ears!

Surgery #3 happened on Oct. 3rr.  I spent two weeks with no hearing at all while the ear healed from the surgery and could not accommodate hearing aids.  That was once again, a little scary but different than the first two surgeries where I heard quickly but failed in the long run. 

Ultimately, hearing aids went back in and the results are not good.  The last surgery did not heal the issue.  I have now been fundamentally without hearing for the last year.  The next step is a cochlear implant.  This is a device implanted that goes directly to my brain stem.  I will re-learn “hearing” in this fashion after the surgery and therapy.

During this time, I still maintained a full book of business and worked to the fullest of my abilities. Technology has been helpful; it has advanced to help with hearing impairment. I carry two phones.  My normal iPhone with a blue tooth connection to my hearing aids and an Android that translates voice when I put it near sound (like speakers or a person).  Some people did not even notice I was using a device to hear them.  Others noticed a delay while I ‘read’ their comment before responding. 

It would have been easy to give up and pity myself, but I chose to focus on what I have learned from the experience to make myself better.  Here are some of the benefits I gained. 

At the beginning of this blog I said I LISTEN to people for a living.  I used to do 2-3 things at the time while on the phone.  Now I must read the phone so I cannot do any other task. I am now FULLY listening to the buyers and sellers on the phone and it made me a better broker for it. I also restate their comment or concerns which is also helpful to make sure I understood what they said. My results also reflect that this year.

Every call and every interaction must be meaningful, since listening is very tiring.  I must make sure that this worthy and productive, if it’s not, I politely end the discussion and find a productive activity to engage with.

My focus is more intense.  If you cut out outside noise you will see things much clearer in focus.  This applies when I look at financials as well as when I engage in my hobbies.  I rely a lot more on visuals now than what I hear.

I also became a better writer as I have been sending lengthier and more detailed emails.

My interactions with my family have changed.  Most couples married for nearly twenty years will just toss out a comment from across the room with music or TV in the background. My wife and I must be very close to one another for me to recognize that she is speaking.  Since we run a business together, that means we talk a lot.  We have relied on more communication by touch, where she lets me know she’s speaking.  I can somewhat read her lips and understand what she’s saying or use my phone.  Either way, I’m 100% focused on her and she on me when we are communicating.  This is a great tip for any married couple. 

My professional life has changed.  I cannot sign up for certain functions I would normally attend.  Board meetings are tough because so many people are speaking, and I can’t hear what is being said in a large table environment.  My wife and I often speak or lead round tables at industry functions and that has not been possible without her picking up on most of the questions and bringing me in on the back end. 

This is part of my destiny and my journey.  I am embracing it and making the best of it every single day.  In the best-case scenario, I have just a few more months without the music and things will get better by the first quarter of next year with the fourth and final surgery. 

Either way, I have spent a year without music and gained a new appreciation for communication. 

Topics: Restaurant Brokers

Howard's Famous Corned Beef and Deli - Restaurant Sold

Posted by Robin Gagnon on Nov 11, 2019 11:10:28 AM

We Sell Restaurants closes on another restaurant for sale transaction; the sale of the Howard's Famous Corned Beef and Deli in Boca Raton, Florida

42

We Sell Restaurants is pleased to announce the sale of Howard's Famous Corned Beef and Deli located at 3571 N. Federal Highway in Boca Raton, Florida. Sal Angrisani of Greenacres, Florida acquired the company from Howard Rich.  The transaction was handled by Ken Eisenband, Franchise Partner with We Sell Restaurants for Palm Beach and Broward Counties.

Howard's Famous Corned Beef and Deli is an outstanding location that’s been described as one of the most authentic delis in Boca Raton, Florida. The concept features signature corned beef that is cooked in-house as well as smoked salmon. They offer half pound sandwiches with their daily fresh breads. Howard's Famous Corned Beef and Deli also offers catering service and onsite beer and wine sales.

The seller, Howard Rich, said of his experience with Ken Eisenband, “I listed my restaurant for sale with Ken Eisenband and We Sell Restaurants. The process was very easy, and he brought in many prospects. Once we were in contract for sale, Ken was very organized and guided me through the entire process. I would definitely recommend Ken and We Sell Restaurants to anyone looking to sell their restaurant.”

Eric Gagnon, President of We Sell Restaurants said of the transaction, “Ken is an excellent Franchise Partner and one of the strongest players in the competitive business for sale marketplace in South Florida.  He is a consistent top producer for the brand and the state with excellent feedback from his clients.”

Ken Eisenband is the multi-unit Franchise Partner for Broward County and Palm Beach County Florida, the southern part of the Sunshine state. Ken leads two offices for We Sell Restaurants with distinction and directs a team of Restaurant Brokers as a multi-unit owner. Ken is a member of the Business Brokers of Florida Association where for multiple years he has received the prestigious Dealmaker Award as one of the top 5 transaction agents in the state of Florida as well as receiving the Million Dollar Club award.

Ken graduated with Honors from The School of Hospitality at Michigan State University in 1983 and has thirty years of experience in the restaurant industry.  In 1996 Ken joined Ruby Tuesday’s finance team as an analyst working closely with the Real Estate department and Vice President of Operations on site selection and feasibility studies. Ken can be reached by phone at (561)-350-3365 or by email – ken@wesellrestaurants.com. His listings can be found online at wesellrestaurants.com.

We Sell Restaurants is the nation’s largest restaurant brokerage firm, specializing in restaurants for sale, restaurants for lease and franchise restaurant resales.  Found online at https://www.wesellrestaurants.com, We Sell Restaurants operates in 45 states nationwide assisting those buying or selling a restaurant.  

Topics: Selling a Restaurant

Best Restaurants for Sale in October of 2019 - We Sell Restaurants Recaps the Top 10

Posted by Robin Gagnon on Nov 5, 2019 3:25:58 PM

What were the best restaurants for sale across the nation in October of 2019?  They ranged from the first place position in Austin Texas where a second generation space drove activity, to the tenth position in Alpharetta Georgia that still beat out 525 other restaurant for sale locations to hit the top ten. 

That means the activity on these listings pushes them into the top 2% of all restaurants for sale for the month when gauged by online views, signed confidentiality agreements and outreach to the nation's only Certified Restaurant Brokers. 

Was the activity focused on franchise or independent? Were high volume or low volume the high traffic creators?  70% of the listings were in Atlanta or the Atlanta metro this month. They all represented unmatched traffic and an unrivaled appetite for acquisition of restaurants that are available in the market today.

We reviewed the views, calls and feedback from our nearly 80,000 buyers in our database to determine which are the "best restaurants for sale in the month of October, 2019.

Listing ID:7227 Restaurant Broker Dave Duce    
Huge Restaurant for Sale - Second generation location in Austin Texas.
Lease: expires November 2020
Monthly Rent: $6700,
Inside Sq. Ft. 4266,
Outside Sq. Ft. 0

Price:$90,000
City:Austin

Dave Duce
(512) 773-5272

The top business listed for the month and the highest amount of activity was recorded on a second generation space in Austin Texas listed by Franchise Partner and Restaurant Broker Dave Duce.  This location, priced at $90,000 is fully equipped and ready for a new owner.  Dave expects an offer any day so don't delay if you have interest in this one.

Listing ID:6718 Restaurant Broker Steve Weinbaum    
Pizza Franchises for Sale 3 Units Doing $1.7 Million in Sales
Lease: Varies By Location
Monthly Rent: $16850
Inside Sq. Ft. 8000
Outside Sq. Ft. n/a

Price:$179,000
City:Memphis

Steve Weinbaum
(770) 714-4552

Three pizza franchises for sale listed by Restaurant Broker Steve Weinbaum in Memphis Tennessee doing $1.7 Million in sales represent an incredibly strong opportunity and pushed this restaurant for sale franchise group to the top of the list.  Memphis is a good market and this store group is still waiting on the right purchaser. 

 
Listing ID:7205 Restaurant Broker Robin Gagnon    
Restaurant Space for Lease in High Income Alpharetta - Strip Center
Lease: TBD
Monthly Rent: $TBD,
Inside Sq. Ft. 1400,
Outside Sq. Ft.

Price:$0
City:Alpharetta

Robin Gagnon
(404) 800-6700

A restaurant space for lease in high income Alpharetta market was the third most popular listing for the month.  The 1400 square foot location resulted in plenty of clicks, views, calls to place it high on the list of most viewed restaurants for sale or lease this month.

 
Listing ID:7193 Restaurant Broker Eric Gagnon    
Incredibly Quaint Cafe for Sale in High-end Village Center
Lease: July 2022
Monthly Rent: $5600,
Inside Sq. Ft. 1800,
Outside Sq. Ft.

Price:$99,000
City:Atlanta

Eric Gagnon
(404) 800-6700

Atlanta continued to represent well on the list of concepts selected by our buyers this month with a cafe for sale in Atlanta for just $99,000 taking in a lot of views and activity on the month.  The 1800 square foot location with a rent of $5600 is ready for new owners. 

 
Listing ID:6202 Restaurant Broker Steve Weinbaum    
Restaurant and Bar For Sale in Johns Creek, Keep or Convert
Lease: 2 years remaining on initial term, with three 5 year options
Monthly Rent: $5600,
Inside Sq. Ft. 4069,
Outside Sq. Ft. 500

Price:$125,000
City:Johns Creek

Steve Weinbaum
(770) 714-4552

Another Fulton County Georgia location in Johns Creek gathered plenty of views.  This restaurant and bar for sale that's ready to keep as is or convert is priced to move.  The 4069 square foot location offered by Restaurant Broker Steve Weinbaum is sure to be in contract soon with one of our restaurant buyers. 

 
Listing ID:7208 Restaurant Broker Robin Gagnon    
4,400 SF Restaurant Space for Lease in Mega Center - National Tenants
Lease: TBD
Monthly Rent: $TBD,
Inside Sq. Ft. 4400,
Outside Sq. Ft.

Price:$0
City:Johns Creek

Robin Gagnon
(404) 800-6700

Another lease location in the Johns Creek (Fulton County - Atlanta) market made the list.  That demonstrations high demand for second generation lease space where talented individuals want to bring their own concept to the location.  This 4400 square foot space inside a mega center scored plenty of views, clicks and calls. 

 
Listing ID:6712 Restaurant Broker Steve Weinbaum    
Mediterranean Restaurant for Sale in Alpharetta, GA
Lease: 2 years remaining thru Feb 2021
Monthly Rent: $3000
Inside Sq. Ft. 1700
Outside Sq. Ft. 600+

Price:$49,750
City:Alpharetta

Steve Weinbaum
(770) 714-4552

A Mediterranean restaurant for sale, also in North Fulton, garnered plenty of views.  This location is priced to sell at under $50,000 and it's no wonder it attracted the views.  The 1700 square foot restaurant for sale, offered by Restaurant Broker Steve Weinbaum,  is sure to be in a contract before long. 

 
Listing ID:6728 Restaurant Broker Dave Duce    
2nd Generation Pizza Business for Sale in Austin, TX - Priced to Sell!
Lease: expires Aug 2025
Monthly Rent: $4600
Inside Sq. Ft. 1300
Outside Sq. Ft.

Price:$99,000
City:Austin

Dave Duce
(512) 773-5272

The list started with Austin Texas and returned  to that location with the eighth most popular restaurant for sale on the list.  This second generation space is equipped for a pizza concept and more and has rent of just $4600 per month. 


Listing ID:7171 Restaurant Broker Robin Gagnon    
Cafe for Sale - Great Beltline Location Generates $700,000 on limited menu!
Lease: September 2023
Monthly Rent: $9669.07,
Inside Sq. Ft. 2126,
Outside Sq. Ft.

Price:$99,995
City:Atlanta

Robin Gagnon
(404) 800-6700

A cafe for sale on the Altanta belt line made waves this month and brought in not only views, calls and more.  This cafe for sale ended up in a multiple offer situation and is set for closing at the end of the month. 

 
Listing ID:7192 Restaurant Broker Eric Gagnon    
Catering Business for Sale in Alpharetta -- Pennies to Acquire Kitchen!
Lease: Dec 31 2019 - 1 - 5yr Opt to Renew
Monthly Rent: $3600.00,
Inside Sq. Ft. 1800,
Outside Sq. Ft.

Price:$35,000
City: Alpharetta

Eric Gagnon
(404) 800-6700

Last but not least, is another location in high income Alparetta, a suburb of Atlanta. A catering business for sale in that market was one of the top 2% of all businesses in our inventory for the month.  

It was a record breaking month of calls, views, signed confidentiality agreements and inquiries from our buyers.  Our listing inventory is just at $150 million and includes over 535 listings across the nation.  All of our restaurant for sale listings can be found online at this link

Topics: Buying a Restaurant

Selling a Restaurant?  Figure out if you Want the Real Deal or Facial Tissue. Brands Matter

Posted by Robin Gagnon on Oct 24, 2019 1:33:43 PM

Do brands matter when selling a restaurant?  We think so, along with the 80,000 buyers in our database.  Learn why brands matter when selling a restaurant.

Newsletter (3)

The ten most valuable brands in the world, according to Forbes, in order, are:

  1. Apple
  2. Google
  3. Microsoft
  4. Amazon
  5. Facebook
  6. Coca-Cola
  7. Samsung
  8. Disney
  9. Toyota
  10. McDonald’s

Branding matters.  It becomes such a part of the public consciousness that no one asks for a soda, they ask for a Coke or a Coca Cola.  No one says, "Do you have a facial tissue?"  They say, “Can you hand me a Kleenex?”

According to Inc. Magazine contributor and the President of Uppercase Branding, Mike Pile, “a name is the most powerful and cost-effective communication tool there is.”  He goes on to say that, “No marketing message will be used as widely or as frequently as the brand name.  It is the single most profound form of business communication.”

That takes us to We Sell Restaurants, our brand name.  Our brand is descriptive.  Our brand is successful.  Our brand is part of a marketing engine that allows us to meet our vision to sell more restaurants than anyone else. PERIOD.

The United States Patent and Trademark office agree with us. They granted to We Sell Restaurants, the ONLY authorized use of the term “We Sell Restaurants” for business brokerage in the principal registration of our Service Mark #4,663,265.  Feel free to look it up.   

Does branding matter?  It certainly does.  Virtually every single month, we task our attorneys with sending “cease and desist” letters to other business brokers who want to “piggy-back” on our good name with social media hashtags under We Sell Restaurants, using our name on their home pages, copying our brand colors, our photos, and using it in descriptions of their services.   

Trust us.  We’re flattered.  But our customers are not fooled.  They know there is only one brand selling more restaurants than anyone else.  Here are just a few statistics.

  • We Sell Restaurants is the most highly ranked name when searching restaurants for sale.  That means anyone looking to buy a restaurant sees this powerful name first, not that of a “one-man” shop or someone with limited listing counts.
  • We Sell Restaurants has a listing inventory or just at $150 Million Dollars. That makes us the largest in the world in terms of listing inventory.
  • We Sell Restaurants has over 530 restaurants for sale, dwarfing any other brand in the nation. Those listings are active and available for sale.  We do not “fluff” up our listing count by leaving sold listings in the mix. 
  • We Sell More Restaurants than anyone else. PERIOD.  Our sold listings are published on our website (separately from our “available” listings) along with raving testimonials from our clients.   
  • We Sell Restaurants services 42 states nationwide.  We are credentialed, licensed and national in reach, unlike other brands.
  • We Sell Restaurants has more than 80,000 in buyers in our database and we send 6.4 Million emails per year on our inventory leading to more closed transactions.
  • We Sell Restaurants educates our brokers with the longest training program in the industry.  We provide more hands on training, more specialized knowledge and the only testing in the nation to achieve the status of “Certified Restaurant Broker.”  That sets our brokers apart and is also a trademark of our company. 

It is no wonder We Sell more restaurants than anyone else.

Think about that the next time someone offers you their Restaurant Broker “knock off” brand.  Do you want facial tissue or the real deal?  Are you going to have that unbranded, “cheaper” quality or do you want the premium brand that delivers results?

Listen.  We’re flattered that there are plenty of people trying to imitate our success. Just make sure you know what you’re buying before choosing a fake or watered down attempt to sell restaurants. There’s a reason brand names have higher market equity.

Topics: Selling a Restaurant

Another Which Wich Franchise Sold by We Sell Restaurants

Posted by Robin Gagnon on Oct 15, 2019 1:14:28 PM

We Sell Restaurants closes on another restaurant for sale transaction; the resale of the Which Wich franchise in New Braunfels, Texas

We Sell Restaurants is pleased to announce the sale of Which Wich located 2830 Town Center Dr #110 in New Braunfels, Texas.  The purchasers are The Dagwood 4B LLC, a group made up of Lance Becker and his wife, Sarah Becker of New Braunfels Texas, along with Gene and Sue Bedingfield, also from the area.  This is an experienced group that at one time owned and developed up to 40 units of the Liberty Tax Franchise brand and currently operate 4 Club Pilates franchises in the area. 

Copy of Copy of newsletter (1)

The store was acquired from SMART Restaurant Group, a multi-unit group led by TJ Schier of Dallas Texas.  Mr. Schier is a nationally recognized multi-unit owner who speaks frequently on the restaurant industry and is transitioning full time to a speaking and consulting career.

The buyer, Lance Becker said, “It was a pleasure working with Robin and her team at WSR.  They made the challenging task of coordinating the multiparty franchise acquisition virtually seamless.  The negotiations with the seller, introduction to the franchisor and timeline to closing were all well planned and executed along the way to keep the process running smoothly and on track.  We look forward to working with WSR in the future as opportunities arise."

The transaction was brokered by Robin Gagnon, Certified Restaurant Broker and co-founder of We Sell Restaurants.  She said of the transaction, “It was my greatest pleasure to work with Lance and his family on this deal.  It is always exciting to assist experienced franchise operators enter the restaurant industry.  Which Wich is a strong prospect for resales with many of our buyers.  Their in-depth training and support make it a winning opportunity for those entering the food and beverage industry for the first time.”

Which Wich, a franchise chain that started in downtown Dallas has branched out nationwide specializing in crafting each sandwich with care. Founder, Jeff Sinelli, ignited this brand to specialize the best possible versions of each sandwich. Their menu features many exclusive recipes for the ultimate customer experience. Which Wich are committed to making the world a better place by participating in program like the PB&J.   

Other franchise restaurants for sale can be found directly online at wesellrestaurants.com. We Sell Restaurants is the country's leading restaurant brokerage focused on those buying, selling or leasing a restaurant.

We Sell Restaurants is the nation’s largest restaurant brokerage firm, specializing in restaurants for sale, restaurants for lease and franchise restaurant resales.  Found online at wesellrestaurants.com, We Sell Restaurants works in 45 states nationwide.

Topics: Selling a Restaurant

We Sell Restaurants Issues Best Restaurants for Sale September 2019

Posted by Robin Gagnon on Oct 4, 2019 9:53:58 AM

What makes a listing hit the "Best Restaurants for Sale" list?  We base our report on signed confidentiality agreements, clicks, views, and calls to our Certified Restaurant Brokers.  With nearly 500 restaurants for sale, that means these are the top 2% of all listings in our database, the most extensive group of restaurants for sale nationwide.  Since our customers are doing the clicking and calling,  they are evaluating the options and pushing them into our best restaurants for sale list as the top ten among all activity.

Here is our latest report covering the month of September 2019.

The number one listing is a hybrid location that offers three business operations in one. This listing combines a restaurant, convenience store and truck stop into one home run location.  The earnings on this unit are an unmatched $735,000 and the price for the location includes the real estate.

Franchise Partner and Certified Restaurant Broker Justin Scotto recently listed this location which was not ever on the market for the full thirty days making its appearance on the list even more remarkable. Since this qualifies for SBA lending with real estate, the purchase price can be amortized over twenty years with just 15% down.  That has our restaurant buyers seriously interested.  

Listing ID:7124 Restaurant Broker Justin Scotto    
Restaurant Convenience store for Sale We Sell Restaurants Restaurant business for Sale plus C-Store and Truck Stop Earns $735,000!
Lease: zero
Monthly Rent: $zero,
Inside Sq. Ft. Business-3500,
Outside Sq. Ft.

Price:$3,750,000

Justin Scotto
(704) 609-4460

There appears to be a trend beginning on this month's report since the second most popular listing was for ten Subway franchises for sale with another very strong earnings level at $240,000 a year.  There are plenty of buyers pushing for strong EBITDA on the books and this store group, churning out nearly a quarter million a year in pure earnings was an instant hit among those buying a restaurant. 

President of We Sell Restaurants and Certified Restaurant Broker, Eric Gagnon is the one fielding the many calls, clicks and confidentiality agreements on this one. 

Listing ID:7059 Restaurant Broker Eric Gagnon    
Subway Franchise for Sale We Sell Restaurants Ten Subway Franchises for Sale - Multi Unit EBITDA of $240,000 a Year
Lease: Varied
Monthly Rent: $27673.95,
Inside Sq. Ft.
Outside Sq. Ft.

Price:$899,000
City:Dallas

Eric Gagnon
(404) 800-6700

We are seeing  a theme come into play as the next on the list of best restaurants for sale is a very strong moneymaker with earnings on the books of $500,000. 

This Naples Florida location offered by Franchise Partner and Certified Restaurant Broker Dave Whitcomb, has been off the charts with activity even though this listing is in contract already and set for closing.  There were multiple offers on this store, driving the actual price much above asking.  

Listing ID:7004 Restaurant Broker Dave Whitcomb    
Naples Restaurant for Sale Grossing $5.2 MM - Owner Income 7 Figures!
Lease: expires June 30, 2021
Monthly Rent: $9941,
Inside Sq. Ft. 3774,
Outside Sq. Ft. seating for 25 on patio deck

Price:$1,000,000
City:Naples

Dave Whitcomb
(239) 300-5041

From high earnings to high potential, the best restaurants for sale can be on either side of the spectrum.  Certified Restaurant Broker Steve Weinbaum was next on the list with a restaurant and bar for sale in Johns Creek that's not returning any profit to the owner and is ready for a new buyer to take over and change the concept. 

The excellent location in a high income area makes this ideal for a pub, sports bar, or full service restaurant of any kind. 

Listing ID:6202 Restaurant Broker Steve Weinbaum    
Restaurant and Bar For Sale in Johns Creek, Keep or Convert
Lease: 2 years remaining on initial term, with three 5 year options
Monthly Rent: $5600,
Inside Sq. Ft. 4069,
Outside Sq. Ft. 500

Price:$125,000
City:Johns Creek

Steve Weinbaum
(770) 714-4552

Franchise Partner and Certified Restaurant Broker Dave Duce in Austin Texas put forth a three store franchise for sale package that pushed into the top two percent of all listings with We Sell Restaurants this month.  This opportunity, priced in the seven-figure range found many interested buyers and kept the phones ringing all month! 

Listing ID:7118 Restaurant Broker Dave Duce    
3 Franchises for Sale - Be a Multi Unit National Brand Owner in Austin
Lease: Expires 2025
Monthly Rent: $6241,5731,7650,
Inside Sq. Ft. 1700,1750,1761,
Outside Sq. Ft. 150

Price:$1,275,000
City:Austin

Dave Duce
(512) 773-5272

Six figure earnings offered on a quick service franchise for sale brought the Colorado office into the mix with a deal offered by Certified Restaurant Broker Chris Gordan.  The location, with a long term lease and option to extend, along with six figure earnings , is priced to move quickly.  That caught the clicks of buyers who wanted to know more! 

Listing ID:6942 Restaurant Broker Chris Gordon    
Quick Service Franchise for Sale in CO - Six Figure Earnings!
Lease: ends 2025 + 5 year option
Monthly Rent: $5200,
Inside Sq. Ft. 1576,
Outside Sq. Ft. 600

Price:$80,000
City:Westminster

Chris Gordon
(303) 594-4247

Certified Restaurant Broker Steve Weinbaum was back in the mix with some of the best restaurants for sale in the month of September.  Like many of the others that attracted a strong buyer count, this was a multi-unit opportunity in Indianapolis Indiana.  Pizza concepts are always strong and this two store group of franchises for sale easily pushed into a top position for inquiring restaurant buyers.

Listing ID:7104 Restaurant Broker Steve Weinbaum    
Profitable 2-Store National Pizza Franchises For Sale - Indianapolis, Indiana
Lease: Differs for each location - contact agent
Monthly Rent: $2400,2600,
Inside Sq. Ft. 1600,1600,
Outside Sq. Ft.

Price:$479,000
City:Indianapolis

Steve Weinbaum
(770) 714-4552

Just sneaking onto the top two percent of all listings, a restaurant space for lease in Decatur Georgia, tipped the scales at position number nine.  The attraction of Decatur and strong landlord brought plenty of interest for this location where we assist in preparing your business plan, menu and financial statement for the landlord. 

Listing ID:7001 Restaurant Broker Robin Gagnon    
Restaurant Space for Lease with Patio for Walkable Decatur Georgia
Lease: TBD
Monthly Rent: $TBD,
Inside Sq. Ft. 3273,
Outside Sq. Ft. 1664

Price:$0
City:Decatur

Robin Gagnon
(404) 800-6700

The last listing to make it to the Best Restaurants for sale based on our cutoff of ten listings was a business ripe for change in Lawrenceville Georgia, part of the Atlanta Metro area.  Certified Restaurant Broker Dominique Maddox is the listing agent and assisted multiple buyers in their inquiries on this store.

Listing ID:6804 Restaurant Broker Dominique Maddox    
Stunning Restaurant for Sale - Keep or Convert to New Concept!
Lease: Expires Feb. 2024 plus 5 year option
Monthly Rent: $3152,
Inside Sq. Ft. 2000,
Outside Sq. Ft.

Price:$59,995
City:Lawrenceville

Dominique Maddox
(404) 993-4448

That's it. You now have the complete list of the Best Restaurants for Sale in the month of October.  Buyers pushed high earning restaurants and multi-unit locations into some of the top positions with offers already in play from some of these. We'll continue to track the response on these best restaurants for sale and publish a new list next month. 

For access to all our listings, visit wesellrestaurants.com at this link for the most restaurants for sale anywhere online. 

 

Topics: Restaurants for Sale

Atlanta Restaurant Sales Are Trending Up - Sales Increased 4.18% over Last Year

Posted by Robin Gagnon on Oct 1, 2019 10:31:59 AM

Restaurant Volume (1)

The latest report from NetFinancials is out and they say that Atlanta restaurant sales volume increased 4.18% this year when measured against the same time frame in 2018. That's a fantastic result that We Sell Restaurants is excited to see.  In addition to overall strong sales, the report shows the results are strong across the board.  The positive sales growth was observed in 73% of the 102 independent Atlanta restaurants that are part of the quarterly survey conducted by the firm.  

They draw their data from 102 non-franchise restaurants in the market.  The total volume covered by this report was $160 million for year to date 2019.  It included Atlanta restaurants in all segments, fast-casual, casual and fine-dining open at least eighteen months.

How does that compare?  

One of the best resources for tracking national restaurant sales data is TDn2K’s Black Box Intelligence.  They reported that year to date sales on the national level are only .5% ahead of last year.  That means Atlanta restaurant sales are far outperforming the national trend by a difference of more than 4 percentage points which indicates the health of the industry in this market. 

The same firm reported that national restaurant traffic counts remain in a decline.  However, as We Sell Restaurants continues to interact with sellers, we see more and more market share shifting to delivery options like UberEats, DoorDash and similar models.  For that reason, store traffic count reductions must be viewed through the lens of a dramatically changing consumer model who is ordering in versus dining in.

The Black Box index is based on weekly sales from more than 170 brands that operate more than 31,000 locations and generate nearly $72 billion in annual sales.

The president of NetFinancials, Lori Johnson, was quoted in the report saying, "The first quarter of 2019 saw a tremendous increase in sales due to the Atlanta Superbowl festivities. The national spotlight was on Atlanta and visitors were given the opportunity to experience the food culture locals love. Not surprisingly Q1 2019 saw an increase in sales at most restaurants surveyed, a startling 78%!

Was all the increase attributed to the first quarter?  No.  The report goes on to state that second quarter sales were up 1.72% versus a national average of plus 1.0 percent. 

There continues to be growth in new restaurant openings in the Atlanta market along with ever increasing transactions for those buying and selling a restaurant from our database.  The economy overall was strong in the market with NetFinancials further reporting job growth among the industry in June.  They cite the addition of 9,000 new hospitality jobs in the market or more than 18% of the jobs added during the month.

The table from the NetFinancials report is shown below.  

10-1

Eric Gagnon, president of We Sell Restaurants said of the latest results, "There is no doubt the entire hospitality industry received a strong boost from the Superbowl.  We are glad to see that the trend for second quarter continues to outpace the national results. Our restaurant buyers and sellers continue to be bullish on results and are finding new opportunities each day."

Our list of Atlanta Restaurants for sale can be found online at this link along with resources for buying and selling a restaurant. 

Topics: Buying a Restaurant

E-2 Investment Visas for Buying a Restaurant - Frequently Asked Questions

Posted by Robin Gagnon on Sep 25, 2019 11:30:00 AM

Have you seen a restaurant for sale with the words "E2 Visa Qualified' and wondered what it means?  We'll take you through the ins and outs and frequently asked questions on investment visas for buying a restaurant or any other business. 

What is an E2 Visa?

This refers to a foreign Investor Visa.  This allows foreigners to live anE-2 _d work in the U.S. if they buy a qualifying U.S. business or create one and are a national of a qualifying treaty country.   With the current immigration  climate, it's a way to gain access to the U.S. as the State Department literally puts those with visas at the front of the line. 

How do I know if the U.S. has a treaty with my client’s country?

Check this link on the State Department website for a list of countries. Some countries such as Canada, Colombia, and Austria issue a five-year Visa.  Others issue them for a shorter period of time.  Countries like Ecuador, Jordan, Ukraine, and Thailand, issue only a 12-month visa however, these are renewable. 

How do I know if the business qualifies for an E-2?

  • The price must be right.  The process requires that you make a "substantial investment"
  • You must have employees. It cannot be a one person business.
  • It must be an active not a passive business investment like real estate. 
  • The funds must be invested from a legal source
  • The funds are invested or will be actively invested shortly
  • The restaurant buyer must be seeking to come to the U.S. to develop their business
  • Ownership must be at least 50%
  • The business can be unprofitable but it must have "potential" to make a profit in future as demonstrated by a business plan.

The Certified Restaurant Brokers at We Sell Restaurants screen the restaurants for sale that qualify for an E2 Visa.  They can help you with the ones that will meet the criteria when buying a restaurant.  One additional caveat, not all franchise brands will allow for visa candidates.  They will require proof of residency prior to buying a restaurant.

How long can you investors stay in the U.S. after buying a restaurant? 

The depends on the country's treaty agreement with the United States.  Typically they are 5-year visas, but when you initially enter the U.S. you get a 2-year status. There is no limit to the amount of extensions, but if a visa expires and you need to travel, you will usually need to renew it six months before the date that it expires.

When do the E-2 investors get social security numbers and driver’s licenses?

Those buying a restaurant with an E2 visa can apply for a social security number after they enter the U.S. Once they get a social security card, they may apply for a driver’s license. Spouse and children can get social security numbers but without a work permit, their cards may say not valid for work.

Why go for an E-2 Visa when buying a restaurant?

  • The ability to travel freely in and out of the U.S.
  • The ability to work legally in the U.S. with the E-2 company only
  • The opportunity to remain in the U.S. for a prolonged basis in E-2 visa status if you qualify
  • Dependents can accompany you while working in U.S. and spouses and children under 21 an apply for a work permit
  • Dependents can attend school in U.S. However, once they are 21, they will need an F-1 visa

    What are the Disadvantages of an E-2 Visa when Buying a Restaurant?
  • Limited to specific treaty countries
  • Must work for E-2 business
  • Approved in two years status increments and some countries have 1 year E-2 treaty visas
  • E-2 beneficiary must always have intent to be in the U.S. temporarily during E stay

Overall, buying a restaurant and acquiring legal residency in the United States through a visa is a great opportunity for those seeking to relocate to our great nation.  If you need more assistance on this topic, contact one of our Certified Restaurant Brokers, or see the listings that qualify when buying a restaurant at this link. 

 

Robin Blog Update

Topics: Buying a Restaurant