Advice for Buying a Restaurant and Selling a Restaurant
Topics: buying a restaurant
Dave Duce, Franchise Partner in Austin Texas Brokers Transaction for Family Restaurant Operating in the Local Community for the Past Two Decades...
We 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
Topics: buying a restaurant
The 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.
Topics: buying a restaurant
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.
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.”
In 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 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.
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.
Topics: restaurants for sale
Topics: buying a restaurant
Many 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.
Topics: buying a restaurant
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.
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.
The Nation’s Leading Restaurant Brokers have launched in Austin Texas with Dave Duce named as the latest Franchise Partner
We 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