Advice for Buying a Restaurant and Selling a Restaurant

We Sell Restaurants Compares Activity to BizBuySell First Half of 2016

Posted by Robin Gagnon on Jul 26, 2016 5:32:22 PM

According to the most recent BizBuySell report business sold in 2016 are up slightly over 2015 results.  They also state that the average time on the market is now around six months.  How does that relate to the Restaurant Brokers at We Sell Restaurants?  Our data shows transactions for the same time period are up 30.56% for the same time frame in terms of unit count.  Average time on the market for BizBuySell brokers averaged over six months.  The average for restaurants for sale listed by We Sell Restaurants the time frame between listing and selling was under 160 days compared to the six month time frame listed in the national study.  
We Sell Restaurants, the nation's largest restaurant broker firm compares their results to BizBuySell.com, the Internet's largest business-for-sale marketplace.  BizBuySell is reporting that "the total number of small businesses changing hands in the first half of 2016 represents an increase from not only last year, but from the record-setting 2014 as well."  The statistics for BizBuySell are gathered from business-for-sale transactions reported by participating business brokers nationwide.
 
Twenty-one percent of the listings cited in the BizBuySell report were restaurants with 792 restaurants of the total businesses sold.  From BizBuySell, a total of 1,935 closed transactions were reported in the second quarter of 2016, bringing the year-to-date total to 3,775, a slight improvement from the 3,743 reported in the first half of 2015. If this pace holds up, 2016 is also on track to surpass 2014, when BizBuySell reported a record 3,755 transactions in the first half of that year.  Their graph shown below from the report shows the transactions by quarter. 

2016 Q2 Closed Small Business Transactions

Key financials of the 1590 restaurants n the BizBuySell report for the year included a median sales price of $180,000 versus a median asking price of $220,000.  This means that sellers achieved 88% of their sales price.  That is slightly lower than the restaurant brokers at We Sell Restaurants for the time period where selling prices were closer to 90% on average.  The median revenue of the restaurants in the BizBuySell report was $500,000 and median cash flow was $92,000.  The bars and taverns in the BizBuySell report fared better in terms of median revenue at $534,000.  

Bob House, President of BizBuySell.com and BizQuest.com said of the listing pipeline, "Despite the many deals already completed over the past few years, there still appears to be a strong supply of listings, driven by retiring Baby Boomers, and at the same time, qualified buyers with access to capital."  Eric Gagnon of We Sell Restaurants agrees saying, "The uptick we have seen in listings can definitely be attributed to baby boomers as well as more churn within the franchise resale market as buyers divest some brands or units in favor of other franchise locations. 

Balance of 2016 Remains Good Time To Buy or Sell, Election Among Key Issues To Watch

According to the BizBuySell report, mulitples are holding strong.  Restaurant sales reported by BizBuySell showed cash flow multiples on average of 2.01 for Restaurants and 2.12 for Bars and Taverns.  They show the average cash flow multiple for all businesses is 2.26, just slightly down from 2.22 in 2015 and they say that "minimal year-over-year variations point to a stable market."  For the restaurant brokers we are actually seeing higher multiple particularly for franchise resale transactions.  It is customary to see asking pricing at approximately three times seller's discretionary cash flow and the selling price coming in very close to that number.  

The BizBuySell report raises the issue of the Presidential election as an item on small business owners' minds and we agree.  Despite your party affiliation, the election results may keep some out of the market with fear of the unknown dominating actions. 

The BizBuySell report did not comment on is the availability of lending for business sales, perhaps the greatest stimulus to deals.  The restaurant brokers are seeing a very strong lending market which is contributing to many more deals being funded and closed on in short periods of time.  Robin Gagnon of We Sell Restaurants says, "Getting funding is key to buying a restaurant.  Our SBA lenders are strong and we get results within 72 hours of submission and close deals in weeks.  That is clearly affecting the pipeline of sales and ready capital is helping many buyers leverage their investment.  This is true for both franchise and independent transactions." 

 

2016 Q2 Small Business Sales by Sector

Source: bizbuysell.com

Topics: buying a restaurant

We Sell Restaurants Austin Announces the Sale of Pecan Street Station

Posted by Robin Gagnon on Jul 20, 2016 7:30:00 AM

Dave Duce, Franchise Partner in Austin Texas Brokers Transaction for Family Restaurant Operating in the Local Community for the Past Two Decades...  

Pecan_Street_Station.jpegWe Sell Restaurants, the franchise restaurant brokerage concept selling more restaurants than anyone else nationwide, announces their latest transaction in Travis County, Texas.  Pecan Street Station, a casual eatery owned and operated by James and Robin Akin recently changed hands.  Dave Duce, Certified Restaurant Broker and Franchise Partner for We Sell Restaurants in Austin represented the buyer and seller in the transaction.   

Pecan Street Station went into contract in just over a month to buyers Paul and Rose Prestridge, who are excited to take over a thriving establishment.  They plan to keep the local flavor, recipes and customer service this location is known for.  Broker Dave Duce said of the sale, “In a few short months, we’ve been able to establish a strong group of restaurants for sale.  It is clear that buyers outnumber sellers here in Austin and transactions are moving quickly. This particular restaurant was listed for just 36 days before going into contract. This was a successful transaction where both the buyers and sellers felt very good about the transfer.” 

The sellers, James and Robin Akin, plan to retire after several successful decades in business.  They are working along with the buyer to transfer their knowledge and recipes as the restaurant changes hands. New owners Paul and Rose Prestridge were minority partners in a franchise fast food concept for several years prior to purchasing Pecan Street Station. They are looking forward to bringing that experience to their latest venture as operators of this casual eatery.  

This is Duce’s second sale in as many months.  He also recently closed on Cream Whiskers, a unique and popular puff-pastry bakery located two blocks from the University of Texas at Austin.  Eric Gagnon, President of We Sell Restaurants said, “We are very excited to see the very short time between listing and sales in the Austin market.  Dave is a great example of the We Sell Restaurant process that allows our brokers to sell more restaurants than anyone else nationwide.” 

We Sell Restaurants, a franchise concept focused on helping the food service industry buy and sell restaurants through a unique branded and systemic approach, is now operating in 32 states including those served by the corporate headquarters and franchisees

About We Sell Restaurants:  You can find We Sell Restaurants online at wesellrestaurants.com, Facebook, YouTube and Twitter.  To learn more about franchising with We Sell Restaurants, visit www.wsrfranchise.com  or call 888 814 8226.  We Sell Restaurants is the nation’s largest restaurant brokerage firm assisting those in the market to buy and sell restaurants. 

 

Topics: selling a restaurant

The Restaurants Brokers Share Franchise Deals in the Pipeline

Posted by Robin Gagnon on Jul 18, 2016 8:00:00 AM

 

One of our favorite emails is from Franchise Times who issues their Development Deal Tracker telling us (and you!) what's moving in the marketplace and who's written offers to develop certain concepts.  We also check the latest reports on the newswires to make sure we aren't missing anything.  Here's the Restaurant Brokers take on the latest news which is of course, dominated by the food industry.  

There is excitinfranchise_restaurant_deals_in_development.jpgg news in the Burger segment for the Hwy 55 concept. They announced an agreement with one of their current franchisees to expand the concept in a serious way into Louisiana.  According to Franchise Times, Jason Hall, will be adding more than 50 locations to Louisiana in the next 10 years. He currently operates three units in South Carolina.  

BBQ always seems to make the expansion list though we Restaurant Brokers are trying to figure out why it continues to be so popular.  Billy Sims BBQ has a franchisee named Dave Dunn in Kansas who has opened three stores and will be opening two more under a five store agreement with Billy Sims BBQ.  According to the report, the franchisee said, "We strongly believe that this BBQ is the best in the country and are opening nearby locations as fast as we can."

It wouldn't be another month of reporting growth in development deals without a nod to the latest pizza concepts.  Pieology is on the move in Georgia with the first unit opening in Alpharetta by Segovia Aslan Enterprises.  Franchise Times reports this group has the rights to open additional Pieology restaurants across the Southeastern United States.  That definitely falls into our footprint so we're looking forward to trying this concept first hand.    

Mexican keeps growing.  El Pollo Loco Holdings has announced a new deal with PLM Restaurants L.C.  The terms are reportedly for six new restaurants by August 2019 in the Tucson, Arizona, market. In news we like to hear, PLM also purchased two existing units in Tucson.  

Other acquisition news includes a move by the parent company for Arby's, (Arby's Restaurant Group Inc.), to acquire 19 Arby's restaurants in the Knoxville, Tennessee area.  These were previously operated by Arby's franchisee T.G.J. & Co., Inc.  This is an interesting buy back from the company and bucks the trend seen for many years where headquarters or "corporate stores" were being divested rather than acquired. 

Other news picked up from the press include a deal by Dunkin' Donuts to develop eight new restaurants in Los Angeles California.  Precision Hospitality & Development has the rights.  Their first restaurant under the agreement is planned to open in 2018. This agreement closes out the company’s first wave of franchise commitments since announcing the state would be open for franchise sales in January 2013. 

Salad & Organic Food Service LLC, a subsidiary of Miami Subs Franchising Corporation has announced its purchase of Salad Creations LLC, another South-Florida based chain specializing in build-your-own and signature salads, soups and panini. The acquisition of 16 restaurants includes inline, mall, hospital and university locations throughout the United States

While that's the news on the domestic front, the overseas action continues.  

Steak and Ale is going to Mexico courtesy of a deal between Legendary Restaurant Brands and ONBD Group.  Franchise Times is quoting one principle in the transaction as saying this could be up to 75 restaurants but they are starting with five in Mexico City. The terms of the agreement will allow ONBD Group to sub-franchise Steak and Ale to approved operators within Mexico.

In other international news, Brazil is getting two Wendy's, which are planned for Sao Paulo. This is the first move into Brazil by the company.  The Brazilian expansion is reported as a joint venture between Wendy's; Starboard Group, a large Wendy's franchisee; and Infinity Services, a Brazil-based restaurant investment company. Starboard owns 182 Wendy's across the U.S.  .

Last but not least, a bar serving "fusion food" in a lab setting, Air Bar, is planning ten locations in India.  

This latest report on growth shows consistency in the basics - with burgers, pizzas and Mexican cuisine leading the way.  The buyback of the Arby's unit is also intriguing as it is counter to the trend the restaurant brokers have seen for several years.  We'll keep watching this report and others to bring you news on development in the franchise world.  

Looking to buy a restaurant of your own?  Visit our online listings for more information on our restaurants for sale at the link below. 


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Topics: buying a restaurant

5 Signs You're Not Ready to Buy a Restaurant

Posted by Robin Gagnon on Jul 13, 2016 9:00:00 AM

5_signs.jpgThe Restaurant Brokers deal with hundreds of buyers each month so we've begun to pick up on a pattern of those who really aren't ready to buy a business.  We're not saying there's anything wrong with that but if you think you're ready to start your search but show one of these five signs, it may be time to reevaluation your motivation and real intention to move forward. Here are the five signs that you are not ready to buy a restaurant. 

#1 You’ve looked at more than 20 restaurants or been searching for more than one year.  

If you believe that the quantity of restaurants you review makes you a better buyer and you've literally looked at more than a dozen, then you are probably fooling yourself if you think you're ready to buy.  It may be time to invest in restaurant stock, get a job in the industry or join the field in some other way.  A typical restaurant buyer will be able to see through the pros and cons of an opportunity, review the financials and get to a decision after viewing less than a dozen restaurants for sale.  If you're not sure whether you're better suited to a bar for sale or a catering opportunity and feel like you have to view everything, that just underscores the point that you're probably just not ready to pull the trigger and you may have already passed on the ideal opportunity. 

#2 You need 10 Years of Books and Records or Some Other Unreasonable Form of Due Diligence

Buying a restaurant typically means examining what a bank would review - the most current P&L and two years of tax returns or books and records.  Someone requesting a ten year history or a five year look back is trying to find security in a trend that just isn't even relevant to the transaction.  If you feel like you need to look back a decade to make a decision, just consider where you were ten years ago and what you were wearing, driving, drinking....Is it relevant to today?  A look back this old is a way that you are stalling on making a decision.  You may be better suited to something where you feel more secure (as in taking a job) versus the inherent risk and opportunity associated with buying a restaurant. 

#3 You need or want an Attorney to Review a Confidentiality Agreement Required to View the Restaurant

While there are literally people who employ attorneys on retainer that require they never sign anything before it is reviewed, those are usually rare special snowflakes with trust funds and not the traditional buyer for a restaurant.  If you feel as though a one or two page confidentiality agreement which spells out the terms by which you can discuss the business with someone else as too risky to sign before you buy a restaurant, then you are probably not up for the reams of paper required by everyone from the lender to the landlord before you close on a business.  For that reason, you're probably simply too risk adverse to buy a restaurant and you should consider doing something else.

#4 You Aren't Comfortable Providing Proof of Funds

For many restaurant purchases, a franchise or seller will require that you provide proof of funds before you can even view a package on the listing or obtain the name.  That's not necessarily even the Restaurant Broker's requirement, but is feeding from the Seller.  If you fit the profile of someone who does not want to reveal financial information to qualify, you may not be in a real position to buy a restaurant.  Before a deal is concluded everyone from the landlord to the franchise is going to do a full financial review of you as a buyer.  If you can't hold up to that scrutiny, buying a restaurant is probably not for you.

#5 You want to conduct all your Due Diligence before Writing an Offer to Buy

Conducting your due diligence before you write an offer is another sign that you are working (maybe even subconsciously) to find reasons not to buy the restaurant.  Most sellers are willing to provide a fair amount of information up front including a profit and loss statement and even tax returns but when buyers start seeking items like copies of all 941 filings and check registers before they even write a contract, most sellers call a halt to the process.  Due diligence typically occurs once a deal is in contract and most contracts give you the option to walk away for any reason during due diligence.  If you want to examine everything minutely before writing an offer, it may be that while your heart is ready to go, your brain just isn't going to let it happen.  You might be happier suspending the search until both are aligned and ready to move forward. 

Are you exhibiting any of our signs that you're not ready to buy a restaurant?  If so, don't worry. It may be that now is not the time to buy but sometime in the future may put you on the right path to own your own business.  

If you think you are ready and don't have any of the signs in our article, then check out our restaurant for sale listings online at this link.

Visit Our Listings Online!

 

Topics: buying a restaurant

We Sell Restaurants Dishes Up Week of Sold Listings!

Posted by Robin Gagnon on Jul 10, 2016 1:19:52 PM

The We Sell Restaurants Team announces four listings sold in the first week of July with transactions ranging from Austin Texas to St. Louis Missouri and a few in Atlanta thrown in as well!     

Dave Duce, Austin Franchise Partner in the market announces the sale of both the Bosses Pizza Franchise located at 263 Loop 337 in New Braunfels, Texas.  The business is one of several franchise locations for this brand.  Bosses.jpg

The new owners, Elizabeth and JJ Villafranca, have a diverse franchise background. They spent many years helping large brands develop their franchises and look forward to diving into a new franchise location they can call their own. With their vast knowledge it took them time and research to decide on the franchise and location that would work best for them.

Sellers Damon and Laura Lambert created a brand that has grown into several franchise units.  They have created a menu with custom pizza, wings, sandwiches, salads, bread sticks and more that keeps their loyal customers coming back for more. 

Dave Duce, Franchise Partner for the Austin, Texas We Sell Restaurant office said, “It is always a pleasure helping buyers and sellers find their way into a growing franchise market.” 

Friendly_Min.jpgIn addition to the Austin Texas sale, We Sell Restaurants closed on three other units in the same week.  They include Friendly Mini Restaurant sold by Restaurant Broker Dominique Maddox. This small Chicken Wings Restaurant for Sale next to a High Traffic Gas Station was a quick sale with the time of listing to closing in under 90 days from start to finish.  The new buyers look forward to the strong potential of this site to grow and develop the business. 

Closings were also occurring in the Midwest with a St. Louis Missouri location sold by Restaurant Broker Steve Weinbaum.  The City Diner South in St. Louise was sold by Peter Spoto who will be retiring after several successful years.  The buyer, Maythan Ali took over just in time for the Independence Day Holiday.

The last restaurant sold in the same week by the Restaurant Brokers was Good Grub Subs, located in Alpharetta Georgia.  This small successful business was also listed and sold in under three months with the efforts of Restaurant Broker Dominique Maddox who represented both the buyer and seller in the transaction.

Eric Gagnon, President of We Sell Restaurants noted, "For many brokerage firms, it's a good year if they close on a handful of transactions each quarter.  We Sell Restaurants continues to push the marketing and sales engine of the brand to close on dozens of units each quarter, making our restaurant brokers some of the most successful in the nation.  We are excited to see sellers experience transactions closing in under 90 days since the industry average is more than 9 months."  

We Sell Restaurants specializes in helping other buy and sell restaurants.  Their goal is to sell more restaurants than anyone else – period!  We Sell Restaurants can be found online at wesellrestaurants.com.  The company is franchising nationwide and has offices in Florida, Georgia, Colorado, Tennessee and Texas.  Franchise information can be found at wsrfranchise.com and you can visit our restaurants for sale at this link.

 

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Restaurant Brokers Report the Top 10 Restaurants for Sale June 2016

Posted by Robin Gagnon on Jul 1, 2016 8:00:00 AM

The Top 10 restaurants for sale in the marketplace for June 2016 were spread across the country from Austin to Atlanta and from Breckenridge Colorado to Boca Raton Florida!.  The one thing they all had in common was lots of interests, lots of clicks and many confidentiality agreements signed!  

The list of the Restaurant Broker's Top 10 started in Sunrise Florida where a breakfast and lunch restaurant for sale by Ken Eisenband garnered the most views.  This type of listing is always well received since the hours are great -- no late nights and only breakfast and lunch service.  The rock bottom pricing of this one at only $29,000 made it a stand out and led to lots of the activity on this restaurant for sale. 

Listing ID:4866 Restaurant Broker Ken Allain    
Restaurant for Sale! Great Breakfast and Lunch Location -- Limited Hours
Lease: expires 10/31/2022
Monthly Rent: $5600.00
Inside Sq. Ft. 2700
Outside Sq. Ft. 300sf
Price:$29,000
City:Sunrise

Ken Allain
(917) 653-8587
 The second most popular listing of the month was a restaurant space for rent in the Atlanta Metro area represented by Restaurant Broker Dominique Madox.  The 1250 square foot location is a winner at only $2260 per month rent.  This great restaurant space for rent includes a fully equipped front of house and back of house which obvously got lots of buyers interested in putting their own new concept into the space. 
Listing ID:4986 Restaurant Broker Dominique Maddox    
Lawrenceville Restaurant Space for Rent - Ready for your concept.
Lease: Negotiate terms with landlord
Monthly Rent: $2260
Inside Sq. Ft. 1250
Outside Sq. Ft.
Price:$0
City:Lawrenceville

Dominique Maddox
(404) 993-4448
 The theme of restaurants for lease continued with a fully equipped bar for lease in Cobb County Georgia.  This booming part of the Atlanta Metro is on fire with the boom accompanying the new Atlanta Braves stadium.  This 3712 square foot location is ready to go with rent under $5000 per month, excellent for this area. 
Listing ID:5000 Restaurant Broker Robin Gagnon    
Bar and Restaurant For Lease in Booming Cobb County! Fully Equipped
Lease: 5 plus 5 to be negotiated
Monthly Rent: $4795.00
Inside Sq. Ft. 3712
Outside Sq. Ft.
Price:$0
City:Marietta

Robin Gagnon
(404) 800-6701
 Lower price listings seemed to strike a chord with this month's restaurant buyers as a high traffic restaurant in Alpharetta priced under $50,000 also hit the list of Top 10 businesses in the market.  The location is now in contract and no longer available but the many views and signed confidentiality agreements underscore its popularity.
Listing ID:4918 Restaurant Broker Eric Gagnon    
High traffic Restaurant for Sale in high income area ready for your concept!
Lease: 5 years
Monthly Rent: $4250.00
Inside Sq. Ft. 2500
Outside Sq. Ft.
Price:$49,000
City:Alpharetta

Eric Gagnon
(404) 800-6704
 Breaking into the top 10 for the first time is Restaurant Broker Dave Duce from the We Sell Restaurants Austin office.  HIs established bistro in Austin netting six figures for an owner moved it up the list.  The 1824 square foot location rents for just $4885, a great lease rate for the Austin market. 
Listing ID:4988 Restaurant Broker Dave Duce    
Established Bistro restaurant for sale in Austin - $115,000 cash flow in 2015!
Lease: expires July 2018 + 5 yr option
Monthly Rent: $4885
Inside Sq. Ft. 1824
Outside Sq. Ft. 800
Price:$295,000
City:Austin

Dave Duce
(512) 773-5272
 Colorado also make the top ten list of restaurants for sale this month with a location represented by Bob Steinberger of the We Sell Restaurants Denver office.  The 1500 square foot locatoin with a low rental rate was offered at only $55,000 and is already in contract for a new buyer.
Listing ID:5009 Restaurant Broker Bob Steinberger    
Coffee Shop for Sale in Boulder County, Colorado has Drive-Thru and More!
Lease: 3 years left
Monthly Rent: $2600
Inside Sq. Ft. 1500
Outside Sq. Ft. Aprox 800
Price:$55,000
City:Longmont

Bob Steinberger
(303) 901-4938
 A seafood restaurant in the North Georgia mountains featuring owner financing also make the list of the Top 10 restaurants for sale this month.  This easy to run location transfer with full training and recipes from the owner who is ready to relax and move on from the business.   
Listing ID:5003 Restaurant Broker Dominique Maddox    
Seafood Restaurant for Sale in North Georgia Mountains with owner financing!
Lease: November 2017
Monthly Rent: $1650 including CAMS
Inside Sq. Ft. 1600
Outside Sq. Ft.
Price:$99,000


Dominique Maddox
(404) 993-4448
 This Florida bagel shop for sale landed in the top ten with large profits delivered to the owner.  The Fort Lauderdale location offered by Restaurant Broker Ken Eisenband is a money maker offered at under $200,000 and with a great lease at just over $3000 a month. 
Listing ID:4992 Restaurant Broker Ken Eisenband    
Bagel Shop for Sale in Broward County returns Big Profits to Owner
Lease: Expires May 31, 2017 plus 4 2 year options
Monthly Rent: $3018
Inside Sq. Ft. 1550
Outside Sq. Ft.
Price:$199,000
City:Fort Lauderdale

Ken Eisenband
(561) 350-3365
 Austin Restaurant Broker and the latest franchisee Dave Duce offered an upscale bar for sale at a great price which got the buyers highly interested.  This location is already out for approval of an offer from a buyer in the Austin market. 
Listing ID:4948 Restaurant Broker Dave Duce    
Bar and Grill for Sale is an Upscale Opportunity in Central Austin!
Lease: expires October 16 2023 + two 5-year options
Monthly Rent: $7520
Inside Sq. Ft. 2710
Outside Sq. Ft.
Price:$55,000
City:Austin

Dave Duce
(512) 773-5272
 Last but not least on the Top ten restaurants for sale this month is a Buffalo's Cafe franchise for sale by Dominique Maddox.  This highly popular listing with six figure earnings attracted many buyers and is in contract and set for closing.
Listing ID:4873 Restaurant Broker Dominique Maddox    
Buffalo's Cafe Franchise for Sale nets owner six figure return!
Lease: Expires May 2017
Monthly Rent: $8600
Inside Sq. Ft. 4200
Outside Sq. Ft.
Price:$375,000


Dominique Maddox
(404) 993-4448

The top ten list of restaurants for sale ranged from a low of $55,000 to a high of $375,000 with many of the most popular listings already committed to by restaurant buyers.  The traffic for the month hit new highs with buyers recording record numbers of hits on our restaurant for sale website and signed confidentiality agreements.  Ready to take a look at some of the lastest offerings?  Click this link for the latest listings online. 

Visit Our Listings Online!

Topics: restaurants for sale

Franchise Restaurant Deals in Development.  Restaurant Brokers Weigh In.

Posted by Robin Gagnon on Jun 29, 2016 3:43:38 PM

Here’s a capture of the latest deals in development as reported by Franchise Times with some commentary from theRestaurant Brokers.  Word on the street from Franchise Times is that two brands are looking at strong growth including Firehouse Subs which according to their VP of Development is, “on track to open its 1,000th restaurant this summer and is eyeing more international expansion.” Carvel Ice Cream was noted in the same report as, “churning out ice cream deals at a rapid rate.” 

Here are some of the other franchise restaurant deals announced recently.  A sports bar concept out of Harrisburg Pennsylvania called Arooga's Grille House & Sports Bar has inked a deal to bring three of its units to New York’s Staten Island.  The developer is  Monalisa Group, headed by Vincent Malerba, who currently owns and operates Angelina's Ristorante in Tottenville. 

That’s not the only northeast expansion the restaurant brokers noted in this recent report.  The first Paisano’s Pizza opened in DC (Georgetown area) this month and there are eight more units slated to open in the next 36 months.  The franchisor, Capital Restaurant Group, headquartered in Chantilly, VA., operates 28 Paisano's and Bella Pizza locations in Virginia and Maryland, and recently added SpinFire Pizza to its portfolio.

Pizza continues to grow with build your own pie fast casual concepts seeing strong expansion.  MMM Pizza 1 has opened its first Pieology unit in Gaithersburg Virginia. 

The dough continues to roll with an announcement that PizzaRev, a fast-casual pizza concept backed by Buffalo Wild Wings, has signed an agreement with Surfside Coffee, LLC, to develop 45 restaurants across the greater Miami area. The group's first location is on track to open at the Miracle Mile in Coral Gables, one of South Florida's most sought-after shopping destinations. Based in Miami, FL, Surfside Coffee, LLC, operates one of the largest Dunkin' Donuts franchise networks in Florida. The group is backed by Fireman Capital Partners, LLC , a private equity firm led by CEO Chris Mellgren.

In what the Restaurant Brokers see as a strong line of growth for ethnic offerings in the future, Franchise Times is reporting the opening of The Halal Guys just off the Las Vegas strip later this summer.  The franchisee, FOMO THG, already operate units in the Bay Area of California. The Halal Guys started in NYC as a food cart that attracted long lines for its signature dishes, gyros and falafel.  With the influx of Middle Easterners to the U.S., Halal offerings will, in our opinion, expand beyond fast casual and become very mainstream over the next decade.

Another new fast casual concept just launching was highlighted in the latest report.  Annapolis-based Mason's Famous Lobster Rolls, a fast-casual restaurant concept with affordable lunch and dinner menus, has hired U.S. Franchise development firm FranPoint Partners to help launch the brand.

That’s the wrap up of the latest deals on the horizon.  It seems as though pizza, pizza and more pizza with a bit of Halal and Sports Bars thrown into the mix, are what’s on the table for expansion in the future in the franchise community.

The restaurant brokers will keep you updated on the latest franchise restaurant concepts expanding or hitting the marketplace.  For franchise restaurants for sale in our portfolio, visit this link.

Topics: buying a restaurant

What are the Best Restaurants for Sale?  A Restaurant Broker's View

Posted by Robin Gagnon on Jun 23, 2016 5:18:35 PM

Instagram_Image_Template.jpgMany buyers approach us asking for the best restaurants for sale in our inventory of hundreds of business opportunities.  It’s always a struggle to explain that the best opportunity for one person may be the absolute worst for someone else.

What defines the best restaurant for sale?  Is it top line sales?  For some buyers, that’s the most important criteria.   For other buyers, they don’t care about sales as long as the profitability hits their internal threshold for success.  Some buyers will tell us they just want a business with “six figure earnings” and it doesn’t really matter what it is.  We’ve been restaurant brokers long enough to know they don’t really mean that. 

The reality is that the “best restaurant for sale” is the one that’s right for you and your family.  It will be the business that fits your income needs as well as your lifestyle and the quality of life you want for yourself.  After years of working with restaurant buyers, we developed a tool called the Restaurant Assessment Tool that helps buyers decide exactly what is driving their decision to buy a restaurant and from that, determine the best restaurant for them.

Our tool asks you to answer a series of ten short questions and from that, we can help you find the best restaurant.  For most people, buying a restaurant is a lifestyle decision.  Working late nights and arriving home at 4 AM after the bar closes won't be the best choice for someone with a family waking up at 6:30 AM and getting ready for the school bus.  On the other hand, a highly social individual who loves talking to customers may not enjoy a catering business that is focused on delivery but may be right at home in a dining room interacting with their favorite customers. 

If you download the We Sell Restaurants Restaurant Assessment Tool at this link, you can answer three important questions to help you find the best restaurant for sale based on your lifestyle choices. The questions we want you to consider and answer from this exercise are:

  • What type of restaurant am I looking for?
  • What type of restaurant delivers what I need for myself and my family?
  • What am I willing to sacrifice to obtain this restaurant in terms of money, time and lifestyle?

Some of the items you have to consider when finding the best restaurant for sale for your individual situation include not only what the earnings will be but whether the business is financeable.  Not everyone has the full purchase price in the bank and will require lending.  If you do want a loan, how much debt are you comfortable taking on?  For some buyers, the amount of risk associated with lending can be a reason a business that fits every other criteria is not the best one for them to buy.

Understanding where the business is located in relation to your home is also an important consideration.  Most of our restaurant buyers are not young people who are mobile and have the ability to easily relocation.  Our average buyer is mature and has a family and thus significant responsibilities.  For that reason, even if we find their ideal opportunity and everything about it says it’s the best restaurant for them, it will never fit their needs if the commute to the business is more than an hour in each direction.

The bottom line when buying any business, is that is’ a personal decision and a lifestyle choice.  The best restaurant for one person will be the absolutely wrong choice for another. Spend plenty of time in your search and try our Assessment Tool before making a decision on the best restaurant for you to buy.  

Want to check out our restaurants for sale?  Visit this link. 

Visit Our Listings Online!

Topics: buying a restaurant

We Sell Restaurants Sells Rio Bistro in Colorado

Posted by Robin Gagnon on Jun 21, 2016 5:16:57 PM

The Colorado office of We Sell Restaurants announces the sale of Rio Bistro Wine Bistro and Restaurant in Pueblo Colorado.  Certified Restaurant Broker, Bob Steinberger was the Listing and Selling Agent on the transaction.   

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Rio Bistro, located at 126 South Union Avenue in Pueblo Colorado is located just steps from the city’s new beautiful and vibrant downtown Riverwalk.  This quaint, special fine dining Bistro and Restaurant has been operating profitably since 1999.  The Sellers are retiring after being a staple in Pueblo's restaurant scene for more than a decade.

The Purchaser is Bonagent, LLC, led by Massimiliano Innocenti.  He spent several months reviewing the market and the opportunities in Pueblo before deciding to buy Rio Bistro.  He, like many customers, was a fan of the full bar that runs the length of the dining room with comfortable seating at formal linen topped tables. One nice feature of the Rio Bistro is the exposure to local artists.  Their decor features consignment paintings from local Pueblo artists. 

The seller, Elizabeth Millenet had operated the business since 1999 and retired after many successful years. Her original menu featuring upscale appetizers, cocktails, fine steaks and seafood, seasonal favorites and desserts will continue to be offered Tuesday through Saturday from 5 – 8:30.  She will remain to train the new owner and ensure a strong transition for loyal customer.

John Jordan, Franchise Partner for the Colorado We Sell Restaurant office said, “We are excited to see another new owner take over a great operation in the Denver marketplace.” 

We Sell Restaurants specializes in helping other buy and sell restaurants.  Their goal is to sell more restaurants than anyone else – period!  We Sell Restaurants can be found online at wesellrestaurants.com.  The company is franchising nationwide and has offices in Florida, Georgia, Colorado, Tennessee and Texas.  Visit our restaurant for sale at this link.

  Visit Our Listings Online!

Topics: buying a restaurant, selling a restaurant

We Sell Restaurants Expands to Lone Star State; Austin Broker Achieves Success

Posted by Robin Gagnon on Jun 17, 2016 10:46:38 AM

The Nation’s Leading Restaurant Brokers have launched in Austin Texas with Dave Duce named as the latest Franchise Partner

Dave_Duce_Crop.jpgWe Sell Restaurants, the franchise restaurant brokerage concept selling more restaurants than anyone else nationwide, has added to their franchise count in Austin Texas.  Dave Duce, a former multi-unit quick casual owner and entrepreneur launched the market and secured his first transaction in short order.

We Sell Restaurants, a franchise concept focused on helping the food service industry buy and sell restaurants through a unique branded and systemic approach, is now operating in 32 states including those served by the corporate headquarters and franchisees.

In his first few months as a We Sell Restaurants franchisee, Duce quickly established a strong group of restaurants for sale in Austin ranging from franchise resales to independent concepts. The market is extremely active and his price points in the pipeline range from $50,000 to $500,000.

Duce recently sold Cream Whiskers, a unique and popular puff-pastry bakery in densely populated West Campus, two blocks from the University of Texas at Austin.  The concept was started in 2013 by John Sun of JSTY, LLC.  The seller listed with We Sell Restaurants based on a systemic process, strong marketing plan and unmatched closing percentages.  His restaurant was under contract in less than 60 days and only 101 days lapsed between listing and closing.   

Eric Gagnon, President of We Sell Restaurants said, “Texas is a tremendous state for us with strong transaction counts.  As we continue to see strong growth in this market, we were thrilled to find a franchisee with the industry background, skills, and passion for the job that Dave Duce brings.  His results are typical of the We Sell Restaurants system.  Our FDD Item 19 disclosure shows our franchisees generate six figure earnings in their first year along with faster transactions and shorter times on the market than any other firm.”

Dave Duce says of his experience, “I could never have done this without the intense training and ongoing support I received.”  Co-founder Robin Gagnon said, “The We Sell Restaurants brand has an intensive training program, the longest in the industry to ensure that our partners are Certified Restaurant Brokers with in-depth knowledge and support before they hit the street.” 

The new owner of Crème Whiskers is Hay Good Food, LLC, led by Amira Hassan and Ahme Abdalla.  They invite the community to visit the restaurant as they retain the charm of the existing location and add their personal touch.   

 

About We Sell Restaurants:  You can find We Sell Restaurants online at wesellrestaurants.com, Facebook and Twitter.  To learn more about franchising with We Sell Restaurants, visit www.wsrfranchise.com  or call 888 814 8226.  We Sell Restaurants is the nation’s largest restaurant brokerage firm assisting those in the market to buy and sell restaurants. 

Topics: selling a restaurant