Advice for Buying a Restaurant and Selling a Restaurant

Have you Seen the new Chick-Fil-A Website?  The Restaurant Brokers Love it!

Posted by Robin Gagnon on Nov 29, 2016 5:33:22 PM

Chick-Fil-A just launched their new website and the restaurant brokers have taken a look at what we believe will become the standard for the fast food industy

What makes this website so special?  It's not only the features and bells that really focus in on the customer experience.  It's also how they do this while staying true to their core principles.  For example, anyone who has ever craved a chicken sandwich on Sunday along with some waffle fries knows that founder Truett Cathy started his restaurant with a committment to closing on Sundays.  He worked in the business for a number of years seven days a week for stores open 24 hours a day.  When he launched his own concept, he decided his company would always have one day a week set aside for employees to rest and pursue a personal committment to their faith.  The Chick-Fil-A founder believed that committment was more important than business.  Now, some 70 years later, and with more than 2,000 restaurants, they have stayed true to that resolve no matter what mall or location they went into.   chick fil a.png

Is the new website closed on Sundays?  Well, sort of.  The company's ingenious site will focus on "Sunday stories" or according to their spokesperson, content, "developed through the lens of 'providing a service,' meaning the pieces serve the reader's time well by making them laugh at new Sunday comic, Chicken Strips, inspire them to create a meal at home with friends and family or dive into a long-format feature."  That's right.  There's no push to buy and instead, they make it all about the customer. 

That's not the only feature of the new website that we like.  The focus is on making this an information hub and sharing stories about the business.  Everything is customized and localized to each user.  The home page allows the user to select an individual path through the site.  Youc an choose your favorite Chick-fil-A restaurants and see any local specials os or menu pricing.  Unlike some sites that seem embarrassed to share their calorie count or nutrition information, Chick-fil-A 

In another ground breaking move, the website has the embedded publication of a digital magazine called "The Chicken Wire."  This good-news publication is dedicated to multi-media stories about food, hospitality and community.  Their spokesperson was quoted in Restaurant News saying, ""Our restaurants are often the setting for serendipitous moments where acts of human kindness inspire conversation. So, while we use the site to give guests the information they need about our menu, ingredients and restaurants, we also want to offer them something a little unexpected, like access to acclaimed chefs, seasonal recipes they can make at home, and stories that inspire, like the documentary-style film of a high school student who bonds with a dementia patient through their love of art," says their  digital communications and content strategy manager, Ashley Callahan. 

Our favorite part of this website is the way it weaves the culture of the company which is comittment to family, faith, fun and across a digital footprint.  A 70 year old brand is as relevant and beautiful online today as it was when it was born many years ago in rural Georgia.  Visit Chick-Fil-A online and take a test drive of this new website yourself and let the restaurant brokers know what you think.  Whle you're at it - order #1 for us and send it this way too!

 

 

 

Topics: selling a restaurant

Restaurant Brokers Reveal Latest Franchise Deals -- the South is Ahead in November

Posted by Robin Gagnon on Nov 23, 2016 4:19:35 PM

 

What's happening with restaurant franchise expansion? The restaurant brokers have taken a look at the publicly announced deals and compiled the latest information for you on franchise deal announcements.  While the growth is across the nation, we are seeing strong growth and more deals in the southeast.  In the last few days a number of franchise brands have announced new locations and development deals south of the Mason Dixon line. 

Is that surprising?  Not really. The “South” region (defined by the Census Bureau) extends as far west as Texas and Oklahoma, north to Kentucky and east to the District of Columbia and Maryland, down to Florida and includes everything in between.  This area has been on a growth curve exceeding the rest of the nation according to many published reports on multiple fronts. 

Of course, these restaurant brokers are southerners at heart so we’re excited to see more deals happening in our neck of the woods.  Here are just a few hitting the local press in the last few days.

Church’s Chicken® has a new franchisee, Volunteer Chicken LLC, who is opening ten new restaurants in the southeast.  Their focus will be on multiple restaurants throughout Nashville, Knoxville, and Chattanooga, TN, with another 10-restaurant deal expected to follow in 2021.  That's according to Franchise Times which noted this deal in a recent post.

Southerners aren't all about first watch.jpgbiscuits and gravy but a new deal by First Watch shows that the first meal of the day is a popular one.  Good Morning Carolinas, LLC, a subsidiary of Houston Pizza Venture is planning to develop a dozen new First Watch restaurants in the Charlotte, North Carolina, as well as Columbia, Greenville and Spartanburg, South Carolina, markets within the next five years.

Moving to Pizza but staying with a southern theme, Pieology Pizzeria, opened their third North Carolina location in Greensboro North Carolina. The growth by Segovia Aslan Enterprises is expected to continue as they have the franchise rights to open Pieology restaurants across the Southeastern United States.

Pieology isn't the only one focused on the south.  On November 16, 2016 Pie Five Pizza Co., the Dallas-based pizza company, opened its doors in Hickory North Carolina.  The franchisees, Jeff and Christine Steiner plan to open over two dozen additional units in the Tarheel state. These experienced operators also own and operate several other concepts including: Five Guys Burgers and Fries and Moe's Southwest Grill. 

Another popular concept, East Coast Wings & Grill, which is based out of North Carolina announces that they are specifically looking to expand in these targeted (mostly) southern states.  They are looking at Florida, Georgia, Kentucky, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. East Coast Wings Grill has 36 stores open currently and they are looking to grow to over 100 according to Franchise Times.

East Coast expansion is on the mind of Dunkin' Donuts.  They have signed a multi-unit store development agreement with franchisees Ray and Zak Omar and Megan Karim to develop four new restaurants in Clarksville, Tennessee over the next several years. The first restaurant is planned to open in Clarksville in 2018 near Fort Campbell, one of the largest Army bases in the United States, which was also Ray's home base during his tenure as a special operations officer.

One reason for all this growth may well be the population in the south.  With over 120 million people, the South is the most populous region.  It’s also the area where population growth is occurring as baby boomers age and move south and others simply seek a different lifestyle and move from either the Rust Belt or the higher cost and higher tax base northern states.

If you’re moving and looking for a franchise restaurant for sale, check out our restaurant for sale listings online at this link.

Visit Our Listings Online!

 

Topics: selling a restaurant

Which Restaurants Are Open for Thanksgiving? What do you Mean You're not Cooking!

Posted by Robin Gagnon on Nov 18, 2016 10:00:00 AM

abstract-1239143_1920.jpgHat tip to our good friends at  Restaurant News who compiled an amazing list of restaurants that are open for Thanksgiving Day.  The restaurant brokers have to admit, that like many Americans, we have been shirking the responsibility of standing in front of the hot stove and putting dinner on the table for a number of years.  Why bother when there are so many great restaurants open to either dine in or best of all-- pick it up to go!

Seems like we're not alone as the National Restaurant Association research from 2015 found that 14 million Americans dine out for this holiday.  That's a lot of people who are not heading to grandma's house in a few short days.  They also found that 16 million Americans supplement home cooking for Thanksgiving with someone from a restaurant kitchen.  

What are the benefits of letting someone else do the work?  Well start with -- someone else does the work!  For those of us that prefer to spend the time in the company of the ones we love, there's no wondering if the Turkey will finish on time or if we remembered to pull those pesky giblets out.  We can sit back, relax, enjoy a glass of wine and count our blessings while someone else serves up the food.

We've seen the list of restaurants open for Thanksgiving grow in number for 2016 so we decided to group them by category below:

Traditional American Restaurants where one would expect a Thanksgiving Day feast include the follwoing offerings:  

Country Buffet will be open from 11am-6pm.

Country Cookin is serving up their Thanksgiving Day Feast with turkey or ham with all-you-can-eat holiday salads and sides for $10.99 (kids 10 and under $4.49).  Most locations open and serving breakfast from 7-11 am and a traditional Thanksgiving Feast from 11am-4 pm.

Cracker Barrel Old Country Store will serve a special in-store Thanksgiving meal from 11 a.m. to 10 p.m. This traditional Homestyle Turkey n’ Dressing Meal comes complete with gravy, a sampling of sugar cured ham, sweet potato casserole with pecans, cranberry relish, choice of a country side, a refillable beverage, made from scratch biscuits or corn muffins, and a slice of pumpkin pie for dessert. The Homestyle Turkey n’ Dressing Meal is available for $12.99 per adult and $7.99 per child.

Denny’s guests can enjoy the popular Turkey & Dressing Dinner, featuring a tasty new recipe with perfectly carved slices of premium turkey breast. This holiday favorite is served with savory stuffing, turkey gravy and cranberry sauce along with a choice of two sides and dinner bread.

Waffle House restaurants will be open, still serving ‘em up scattered, smothered & covered.Boston Market will be open serving a traditional Thanksgiving Dinner.

Golden Corral is offering a Thanksgiving Day Buffet at participating locations.  The buffet includes carved turkey, carved ham, fried chicken, rotisserie chicken, pot roast, meatloaf, sirloin steak, fried shrimp and much more.  Call your local Golden Corral for special holiday hours

K&W Cafeterias will be offering a Thanksgiving Day Special for $7.49.  Roast turkey with dressing and cranberry sauce, two vegetables, fresh baked bread, scratch made dessert and refillable beverage.  Continuous service Thanksgiving Day.

Marie Callender’s – Adults $19.99.  Starters include fresh baked golden cornbread, a coup of potato cheese or hearty vegetable soup or a crisp house salad.  Entrees include choice of Freshly Roasted Turkey Dinner or Oven-Baked Ham.  Includes seasonal vegetables, fire-roasted yams with cranberry streusel topping and fresh mashed potatoes.  Kids $8.99.

Mimi’s Cafe is serving up its traditional Thanksgiving Dine-In Meal beginning at 11 am on Thanksgiving Day. The quintessential three-course dinner ($18.99 for adults and $8.99 for kids) includes choice of soup or Mimi’s house or Caesar salad, roasted turkey (choice of white and/or dark meat), traditional gravy, buttered cornbread stuffing, whipped mashed potatoes, candied pecan sweet potatoes (without pecans for kids), green bean casserole with French fried onions, apple cranberry orange relish, signature bread basket with carrot nut bread, petite French Baguettes and choice of brown sugar pumpkin pie or bourbon pecan pie (upgrade to any Slab Pie for $1).

Seasons 52 is taking reservations and will be serving Thanksgiving Dinner.  Enjoy Plainville Farms roasted turkey with gravy, traditional herb stuffing, Yukon mashed potatoes, maple-glazed butternut squash, French green beans, house-made cranberry relish, and pumpkin pie mini indulgence.  Adults $26.90. Child’s portion $12.90.

Shoney’s will feature its home-style, Thanksgiving Day All-You-Care-to-Eat Food Bar, starting at $11.99 and $5.99 for kids 5 -10. Kids 4 and under will enjoy a free buffet with an adult meal purchase and each guest who enjoys Shoney’s Food Bar will received a free slice of delicious pumpkin pie.

These seem like traditional stops on the Thanksgiving Day feast parade but in one twist the restaurant brokers didn't see coming, there are a number of Mexican restaurants offering full fledged American meals including:

Acapulco Restaurant and Cantina is serving a special Thanksgiving Day buffet with a turkey carving station, traditional Thanksgiving dishes, Mexican specialties, soups, salads, desserts, and more.  For Ports O’ Call – $ 26.99/$9.99; For Marina Pacifica, Downey, Costa Mesa and Glendale – $24.99/$9.99; For all other Acapulco locations – $21.99/$8.99.  For Los Angeles – regular menu only.  Ports O’ Call, Marina Pacifica, Costa Mesa, Glendale (11am-7pm), Downey (11am-8:30pm), Los Angeles (12pm-8pm).  All other Acapulco locations (11am-7pm).

El Torito will offer an all-day buffet with traditional Thanksgiving items, including a turkey carving station, Mexican specialties, taco station, salads, soups and desserts from 11am – 7pm.  For El Torito in Burlingame, Dana Point, Monterrey, San Leandro and Marina del Rey – All-Day Buffet $25.99/$7.99.  All Other El Torito Locations – All-Day Buffet $23.99/$7.99.

Chevys Fresh Mex will offer a seasonal dish created by Chef Carlos Franco – Achiote-Marinated Roasted Turkey breast with rojo mole served with garlic mashed potatoes, green bean casserole, jalapeno corn bread and cranberry sauce. Guests can also enjoy all of the Chevys craveable favorites such as mesquite-grilled fajitas, tableside guacamole, freshly squeezed margaritas, farmers market enchiladas and more.  11am-7pm.  Thanksgiving dish is $17.99 per person; $7.99 per child. Price may vary.  Regular menu is also available

It doesn't stop with Mexican themed restaurants, Italian restaurants are getting in on the mix and they include:

Maggiano’s Little Italy is taking reservations.  First Course: Assorted Brushetta Plate, compliments of the chef.  Second Course includes choice of Maggiano’s Salad, Caesar Salad, Chopped Salad or Italian Tossed Salad (choose two).  Third Course choices include Traditional Roast Turkey Breast with Giblet Gravy & Focaccia Sausage Stuffing, Country-Style Baked Nueske Ham with Mashed Sweet Potatoes and Parmesan-Crusted Tilapia with Sage, Lemon & Tomatoes (choose two).  Choose two pastas: Taylor Street Baked Ziti, Maggiano’s Famous Rigatoni “D”, Spaghetti & Meatball, Four Cheese Ravioli, Gnocchi & Italian Sausage and Pasta of the Day.  Fourth: Pumpkin Cheesecake, Warm Apple Crostada, Chocolate Zuccotto Cake and Tiramisu (choose two).

Buca di Beppo Italian Restaurants are serving up a Traditional Turkey Dinner with sliced white meat turkey, homestyle gravy, roasted garlic mashed potatoes, spicy Italian sausage stuffing, green beans, cranberry sauce and pumpkin pie.  Individual $20.  Small serves three for $60.  Large serves 6 for $120.  Dine in only.  Prices may vary by location.

Romano’s Macaroni Grill will be offering a great Thanksgiving dinner for just $18.99 from 12 noon to close by reservation only.  Includes Roasted Turkey with Roasted Garlic Rosemary Gravy, Buttermilk Mashed Potatoes, Glazed Carrots with Candied Bacon, Sausage & Apple Stuffing and Cranberry Sauce.Roy’s is offering a three-course holiday menu.  Starters include Grilled Caesar Salad or Lobster Bisque.  Entree will be Pan Roasted Teriyaki Glazed Turkey.  Sides include Potuguese Sausage Stuffing, Haricot Vert and Hazelnuts, Sesame Carrots and more.  Desserts include Maple Brown Sugar Pumpkin Tart or Chocolate Torte.  Adults $39.95 per guest without wine or $69.95 with two glasses of wine.  Children’s Turkey Dinner $16.95

Seems like the Steakhouse and Seafood Restaurants want to attract you as well including:

Black Angus Steakhouse encourages you to make your reservations now for its Thanksgiving Day Feast served with all the fixin’s.  $18.99 for adults and $9.99 for kids.

Bonanza Steakhouse will be offering a Thanksgiving Day Premium Buffet brimming with all of your holiday favorites. Contact your local Bonanza today for details and pricing.

Fleming’s Prime Steakhouse opens at 11am serving a four course Thanksgiving meal for $39.95 per adult.  Main Course includes Mixed Herb Roasted Turkey Breast with turkey gravy, Housemade Brioche Stuffing, Butter-Mashed Sweet Potatoes, Green Beans with bacon, almonds and onion.  Children’s Thanksgiving Menu available for $19.95.

Ruth’s Chris Steak House is opening at 12pm Thanksgiving Day with a special menu.  $39.95 per adult and $12.95 for children  (prices may vary at participating locations).  Starters include choice of Seafood Gumbo, Caesar Salad or Steak House Salad.  For the main course, Ruth’s Chris is offering oven-roasted sliced Turkey Breast served with homemade gravy, sausage and herb stuffing and more

Smith & Wollensky will be serving a traditional Thanksgiving Day menu for $49 per adult, $20 per child under 12.  Roasted Butternut Squash Soup, Chopped Salad, Herb Roasted Turkey with Sausage and Cornbread Stuffing, Roasted Brussels Sprouts, Potatoes Au Gratin, Duck Fat Roasted Root Vegetables.  Choice of Classic Pumpkin Pie, Warm Apple Tart or Pecan Pie.  Dinner menu also available.

McCormick & Schmick’s Seafood & Steaks is serving a Roasted Turkey Dinner at participating locations.  The Roasted Turkey Dinner includes butternut squash bisque or walnut mixed greens, mashed potatoes and gravy, cornbread stuffing, apple squash casserole, seasonal vegetables and cranberry sauce.  Reservations recommended.

Legal Sea Foods will serve turkey breast with sausage stuffing, mashed potatoes, butternut squash, gravy and cranberry sauce.  $24.95 per person and $8.95 for children 12 and under.  Hours may vary by location.  Reservations recommended.

Ponderosa Steakhouse will be offering a Thanksgiving Day Premium Buffet brimming with all of your holiday favorites. Contact your local Bonanza today for details and pricing.

The number of restaurant chains open for Thanksgiving seems to grow every single year.  Whether you are dining in these locations, enjoying your family's home cooking or serving up your own creation, we wish you a wonderful holiday filled with blessings. 

 

Topics: selling restaurants, buying a restaurant, sell a restaurant

Colorado We Sell Restaurants Franchise Starts the Fall Season Bursting with SOLD's

Posted by Robin Gagnon on Nov 16, 2016 1:30:00 PM

The recent weather changes across the country into a fall pattern has lighted a fire in the Colorado market. Franchise Partner and Certified Restaurant Broker, John Jordon and his team have racked up multiple sales in very short order!  They had something for everyone in the market to buy a restaurant and sold a bistro, a Pizza business, a cafe and a franchise Cheesesteak concept.

Congratulations to the new owner of the Flatbread Pizza Company, Jason Goldstein of Precession LLC16828-FBC_Pic.jpg.  He acquired this prime location on Main Street in the Rocky Mountains.  The Flatbread Pizza Company is in the famous Breckenridge Ski Resort, the second largest ski resort in Colorado. Visitors from all over the world travel to enjoy its challenging slopes and panoramic views. Famous for Neapolitan style pizza with a distinctive thin-crust, customers enjoy its unique flavor.  Along with offering appetizers and great salads Flatbread Pizza Company is a gathering place with a festive atmosphere and the enjoyable company of many repeat guest. Bob Steinberger represented both the buyer and seller in this transaction and he says, "It is great when you find a buyer for a listing in a prime location.”

49259-DSCN1390.jpgCheesesteaks are popular nation wide and this South Philly Cheesesteak franchise found a buyer quickly.  John Jordan, the franchise partner for We Sell Restaurants and leader in the Colorado office represented both the buyer and seller in this deal. The South Philly Cheesesteak located in Evans is now under the operation of John Taranto and his company.  South Philly Cheesesteak is a franchise that came to the Colorado area and made a big impression.  This store is close to nearby colleges and is going to continue to serve its  diversified menu of the best cheese steaks in Colorado, a wide selection of hot and cold sandwiches, Paninis, buffalo wings, and fresh and hot soups and cold salads. New owner John Taranto is going to use his experience to create marketing and continued success for the South Philly  Cheesesteak location. 

Cafes are an always popular gathering place in the Colorado market.  Certified Restaurant Broker Bob Steinberger listed and sold the Greenwood Village Cafe in under 75 days as the representative for the buyer and seller. The Greenwood Village Cafe located in Greenwood Village emphasizes fresh, made from scratch, organic ingredients sourced locally when available. The cafe serves up breakfast burritos, bagels, signature sandwiches and wraps, salads and soups as well as organic fresh juices and fair trade coffee and coffee items. After looking at a few different opportunities local Charles Reeves decided that Greenwood Village Cafe was a fit for his success.

Last o88911-Bistro_exterior.jpgn the list of sold in the past thirty days is a bistro.  The lovely Bistro C.V. located in Steamboat springs was recently SOLD to make room for a new owner with a new concept. Previous owners Brian and Katy Vaugh wanted to focus on their other concept giving the new owner an opportunity for a creative new concept. This location feeds hungry tourist with their 90 inside seats and 20 patio seats is a perfect place for locals after a long day of skiing in the winter and hiking/biking in the summertime. The New owner will be working with the seller to provide training of all the delicious menu items. John Jordon was able to assist the seller with a closing in under 90 days.

Eric Gagnon of We Sell Restaurants remarked on the activity saying, "It is always exciting to see this many closings in such a short period of time. The Colorado market is truly on fire with the many sales taking place in the last few weeks." 

For other restaurants for sale in Colorado, visit our listings online at this link.

Visit Our Listings Online!

  

Topics: buying a restaurant

Want to help your restaurant sales?  Leave Politics out of the Business.

Posted by Robin Gagnon on Nov 11, 2016 12:06:53 PM

Leave Your Politics at Home – a Restaurant Broker’s Opinion in the Light of the Grub Hub Debacle. 

This particular restaurant broker was raised in the South where certain things were never spoken of in polite company.  That includes some of the vulgarities tossed about with impunity in song lyrics (think Jay-Z) along with the big two – politics and religion. Seems like that’s still sound advice based on recent events.

The CEO of GrubHub, Matt Maloney, is in hot water today for making his personal political views not only felt within his company but thanks to the power of social media, literally “around the world.”  When you are trending at the top of Twitter with a handle that says “Boycott” in front of your company name, face it, it’s too late to recover. What was his faux paus?  He issued a post-election memo instructing employees who shared Donald Trump’s views to “reply to this email with your resignation.” 

No matter what your political leanings, consider that the vote in this country has a history of roughly 50/50 or at the most, 60/40.  Think back to names like Theodore Roosevelt, Bill Clinton and Calvin Coolidge for anyone who got over 70%.  For restaurant owners trying to figure out the math; that means for everyone you attract with your political opinion, you are sure to lose someone else.  Are you ready to gamble on 50% of your business like the ill advised GrubHub CEO?  59 million Americans voted against his candidate (or inversely, voted for the other guy - in this case gal).  Now, how many will vote against his product? 

Take a look at his stock value as shown on the New York Stock Exchange (GRUB) today. Here’s a screen shot over a five day period since Maloney decided he would take up political issues within his company.  That would be a down trending line and it’s no surprise.

grub hub stock.png

As a restaurant owner, what do you do if you use Grub Hub services?  According to Wikipedia, they have 44,000 restaurant partners in over 1,000 cities across the United States and the United Kingdom. Do you have a sign on your door or your menu on their app?  If you take it down, do you face a backlash?  If you keep it up are you publicly identifying with his opinion and asking for trouble?  Some loyal Trump supporters may be ready to pull the plug on GrubHub while Hillary backers are probably ordering extra.  But my point is simple.  Why ever mix your business and restaurant sales with politics?  It’s obviously not working for Mr. Maloney.  He’s in a publicly traded company with a board of directors and I suspect he won’t last
another week in that role. 

GrubHub is struggling with a deluge of bad press (and some support) today.  Of course they are now back pedaling and issuing statements saying they, “welcome all employees regardless of political beliefs”  but it’s going to be a struggle to put that genie back in the bottle and a Twitter stream filled with “How do I cancel?” is never a good thing.

These troubling considerations are all part of the reason we should just stick to what we do best in the restaurant business especially in this hyper-charged election year.  Social media has changed the dynamics and decisions are amplified in moments to literally millions.  Ten years ago it was not a big deal for you to deliver the food along with your opinion.  Unfortunately, with today’s instant online environment and hyper partisan politics, it simply puts your business at risk.

Topics: selling a restaurant

What are the NFL, Election & Weather doing to Restaurant Sales in Atlanta?

Posted by Robin Gagnon on Nov 4, 2016 9:00:00 AM

Twitter Image Template.jpgHow are sales trending in Atlanta's restaurants?  Lucky for us Robert Wagner of NetFinancials has answers from his quarterly survey which was just published this week.  The restaurant brokers have studied the data and there’s some good news along with some relatively soft results. We also have our theory on what could be impacting the sales trend.

The good news is that sales are positive on a comp basis to last year.  The bad news - they are only 1.3 percent ahead of the same time period last year. Compared to the national trend however, it looks downright robust since Atlanta was at plus 1.3% above last year while nationally, restaurant sales actually declined 1.0%.  That's a 2.3 percentage point swing in favor of the ATL. 

Wagner also called out what he considers ‘bright spots” in the survey results.  According to him, “restaurants with lower check averages including pizza, barbeque and Mexican-themed concepts reported better-than-average comp sales in Q3.”  That’s seems to align with what the restaurant brokers are seeing in the data from our clients and national trends where pizza continues to thrive.

What are the reasons for the slow down this quarter?  Here are few reasons that the restaurant broker’s believe we could be seeing down trending data in restaurant sales.  l.

NFL viewership has declined 15% so far this season.  We’ve all seen the countless surveys about the source of the fall-off in viewership but regardless of why, it’s a double digit decline. That affects restaurant sales in a big way.  Think of all the alcohol and food consumed in celebration of America’s one-time favorite game.  With viewership down 15%, that means fewer people are making it to their favorite sports bar to hang out, watch the game, order some wings and run up a bar tab.  

The flip side of this coin is that the World Series numbers are setting new viewership records.  If the same trending holds true in the other direction, fourth quarter should see a pickup in those same sports bars when numbers for October and November’s World Series games are published.

The Election.  We are days away from the presidential election. It comes around once every four years and it is stressful.  A recent report in Time Magazine cited a well-known psychologist who said that the presidential election season may have us all “emotionally exhausted.”  If that’s the case, you’re not dining out and you’re probably just ordering a quick pizza.  We’ve definitely seen that reflected in the recent numbers. At that same time that national numbers are weak, Papa Johns reported that their domestic same-store sales we up 5.5 percent in the quarter ended Sept. 25.

Heat in July and August.  The second quarter results included a hot summer in the city where it might have been easier to dine at home rather than go out. This is a standard "go-to" for why restaurant and retail sales are ever up or down but it’s true that the weather plays a role in how many people make it out for dinner.

What are your ideas about other reasons restaurant sales might be down nationally?  Chime in on this blog and let’s hope next quarter gets better.

For a full copy of the latest survey results from NetFinancials, contact Robert Wagner, CPA, president of NetFinancials, Inc. Email: bob.wagner@netfinancials.com. www.netfinancials.com Direct: 404-874-7002.  The NetFinancials quarterly Atlanta restaurant sales survey is provided as a public service to the restaurant industry.

 

Topics: buying a restaurant

Restaurant Brokers Report the Top 10 Restaurants for Sale October 2016

Posted by Robin Gagnon on Nov 2, 2016 10:00:00 AM

With the holiday season coming on fast, the team We Sell Restaurants has yet to slow down. According to the website BizBuySell the transaction and listing count is the highest they have seen since 2007. We Sell Restaurants and we agree! We have seen a spike of listings and interest across the nation. Here are the winners seeing the most interest for the month of October with the most signed CA's.

First on this list is this Restaurant and Bar for Sale in Georgia.  This one's onlyu been on the market for 19 days but between a great bar business, Karaoke and Ladies night , it's a winner with our buyers and sure to fly off the shelf quickly. With its comfy couches, spacious dance floor and outdoor patio, this bar for sale allows for plenty of space for a new owner to grow their vision.

Listing ID:5152 Restaurant Broker Cyndi Weinbaum    
Restaurant and Bar for Sale in Lilburn is Fully Equipped- & Ready to Go
Lease: 3 Years Left
Monthly Rent: $$2741
Inside Sq. Ft. 4500
Outside Sq. Ft. approx 200 sq. ft
Price:$49,000
City:Lilburn

Cyndi Weinbaum
 

Another Georgia Bar and Grill listing that has been on the market for less than 30 days made the top 10 list. This location on a intersection of two very busy roads is driving buyers to want more information on this location. Indoor and outdoor ambient seating makes this Bar and Grill for sale attractive for sales all year long.

Listing ID:5141 Restaurant Broker Steve Weinbaum    
Remodeled and Equipped Bar and Grill for Sale! Pennies on the Dollar
Lease: 4 1/2 years remaining + 5 year extension
Monthly Rent: $$4350 including CAMS
Inside Sq. Ft. 3500
Outside Sq. Ft. 350
Price:$99,000
City:Suwanee

Steve Weinbaum
(770) 714-4552

Georgia, yes we said it again! This Franchise For Sale in Georgia for under 60,000 dollars has lots of people clicking. This fast casual brand with nearly 200 units nationwide is a bargain at just $59995.  Simple menu with a system already in place makes this great for many restaurant seekers out there.

Listing ID:5157 Restaurant Broker Robin Gagnon    
Franchise Restaurant for Sale - Philly Connection is Priced to Sell!
Lease: Valid through May 31, 2021 with 2 3 year options
Monthly Rent: $1675
Inside Sq. Ft. 980
Outside Sq. Ft.
Price:$59,995


Robin Gagnon
(404) 800-6701

It's no surprise that this affluent Georgia location made the Top 10 List. This Fully Equipped Restaurant was originally built out with cost of over $300K and is a bargain at under $100K. This location can be converted into anyone's culinary passion. Do you have a culinary dream you want to fulfill? Start it today!

Listing ID:5148 Restaurant Broker Steve Weinbaum    
Turnkey and Fully Equipped Restaurant for Sale in Johns Creek, GA
Lease: 5 + 5 (4 +5 Left)
Monthly Rent: $3450
Inside Sq. Ft. 3600
Outside Sq. Ft.
Price:$99,000
City:John's Creek

Steve Weinbaum
(770) 714-4552

Restaurants on wheels have been sweeping the nation! This Well Equipped Food Truck for Sale in South Florida has driven interest up. For under $50K you can start rolling in the profits with this mobile food business, no matter what your concept. Events around the nation are popping up every day that are just for Food Truck Owners. Become part of the Food Truck nation!

Listing ID:5064 Restaurant Broker Ken Eisenband    
Well Equipped Food Truck for Sale in South Florida
Lease: Food Truck
Monthly Rent: $Food Truck
Inside Sq. Ft. Food Truck
Outside Sq. Ft.
Price:$40,000
City:Cooper City

Ken Eisenband
(561) 350-3365

Georgia is staying strong on this list with this Sandwich Franchise For Sale. Preapproved for lending, E2 visa candidate ideal, and an excellent brand.  There's no question why this brand new listing is creating a list of potential buyers. We have an offer in negotiation now for this spot!

Listing ID:5138 Restaurant Broker Robin Gagnon    
Profitable Franchise Sandwich Shop for Sale in great Fulton County location!
Lease: Valid through 2020
Monthly Rent: $6300
Inside Sq. Ft. 1800
Outside Sq. Ft.
Price:$265,000
City:Alpharetta

Robin Gagnon
(404) 800-6701

Pizza is one of America's favorite foods and this business has many opportunities. This Pizza Franchise for Sale dishes up a location surrounded by high income households. With Americans buying 350 slices of pizza each second , invest $99,000 and be part of this $38 billon dollar a year in sales industry.

Listing ID:4839 Restaurant Broker Eric Gagnon    
Pizza Franchise for Sale - Open and Operating Amazing Store
Lease: 10 Year Term plus 2 five year options to renew valid through 2033
Monthly Rent: $8239.75
Inside Sq. Ft. 3000
Outside Sq. Ft.
Price:$99,000


Eric Gagnon
(404) 800-6704

Bars in Georgia are dominating the October top 10 List and location is everything when it comes to this Profitable Bar for Sale. This location offer tons of fun with its game room and second bar that profi0t from hosting special events. With sales that offers a 6 Figure Owner Benefit.  Buyers are playing no games here to find out more about this location.

Listing ID:4944 Restaurant Broker Steve Weinbaum    
Profitable Bar for Sale Events Venue! Great Location in Downtown Atlanta
Lease: 1 Year plus 2 , 5 Year Options
Monthly Rent: $9490
Inside Sq. Ft. 7000
Outside Sq. Ft.
Price:$229,000
City:Atlanta

Steve Weinbaum
(770) 714-4552

Hello Texas! Austin!  Texas Franchisee Dave Duce found his listing on the Top 10 List with this Established Bistro for Sale. Located in one of Austin's most desirable location this bistro is filled with local artwork, delicious bakery treats, and locally roasted coffee plus much more. What can make this listing more delicious? How about a 2015 $115,000 cash flow. This listings is sure to flow off the market with its popularity!

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:$250,000
City:Austin

Dave Duce
(512) 773-5272

Austin and its city of foodies finishes this list with this Sandwich Sop for Sale. If you ever wanted to start a business for just pennies on the dollar this is the opportunity. Keep it a sandwich shop or bring your own concept to this location had buyers clicking to find out more.

Listing ID:5160 Restaurant Broker Dave Duce    
Buy this Sub Sandwich Shop for Sale in a Killer Austin Location!
Lease: month to month
Monthly Rent: $6200
Inside Sq. Ft. 1000
Outside Sq. Ft. 500
Price:$50,000
City:Austin

Dave Duce
(512) 773-5272

It seems the Top 10 October list was dominated by Georgia market. Bars, Sandwich and  Pizza Franchises have kept Georgia buyers coming back for more. October’s buyers are scavenging the listings looking for deals. Close to 70% of the October's top 10 Restaurants For Sale by the restaurant broker are listed at under $100K. No matter what the price this top 10 list shows a variety of what buyers are looking for. 

Ready to take a look at some of the lastest offerings?  Click this link for the latest listings online. 

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Topics: restaurants for sale

Georgia Restaurant for Sale Market Grows with Multiple New Listings

Posted by Robin Gagnon on Oct 27, 2016 6:25:16 PM

 

BizBuySell, the Internet’s largest business for sale marketplace recently reported that transaction and listing counts are at their highest level since they began tracking in 2007.  It's a stunning revelation for BizBuySell to state that, "small business transactions have finally reached the highest level in nearly a decade.  The restaurant brokers would agree with contracts, buyers and listings off the charts in terms of transaction activity. Here’s just a sample of four of our latest listings released in the past two weeks.

The newest inventory in our database inogukkt.pngcludes a Philly Connection franchise outside the Metro Atlanta Market.  The Philly Connection brand has nearly 200 units nationwide.  Buyers often want to understand the motivation for selling.  In the case, the seller has been offered a new job out of town. He’s priced the business to sell at just $59,995 and we had nearly 40 confidentiality agreements signed on it in one day.  The activity is strong and we hope to see this in contract shortly.  This franchise restaurant for sale that will gross over $325,000 this year.  It is fully equipped and literally a turn-key operation. The entire space is under 1000 square feet and seats about 30 people with a monthly rent of just $1675 a month.

From one extreme to the other; the second of our latest Georgia restaurant for sale offerings is a bar and grill for sale in the Atlanta metro.  This one is priced at $295,000. The seller and online guests say this one is the neighborhood bar where everyone knows your name. Great bar food and ice cold drinks are part of the culture of this laid-back space with pool tables, live music, trivia & karaoke.  It’s rare according to restaurant broker Robin Gagnon for listings like this to stay on the market long, “A bar and grill is the epitome of the American Dream” she says.  “When the weather cools off and people gather to watch the games, this is exactly the kind of place they flock to.”  Strong earnings above six figures drives the pricing on this one and it qualifies for lending. 

The firm’s newest restaurant broker, Cyndi Weinbaum just listed a fully equipped bar for sale in Lilburn offered at rock bottom pricing!  This listing hbar photo.jpgas already had 67 signed confidentiality agreements and it’s only been on the market for 14 days.  That kind of activity will definitely drive a sale soon for business with a fully built out kitchen, stunning bar, great seating, outdoor patio and plenty of parking that’s located on a major road with easy access. This one is offered at just $49,000 as an asset sale even though it’s open and operating. The equipment list alone on this one is worth the price to be up and running in your new spot in a short amount of time.

While BizBuySell’s Insight Report says the average business was on the market an average of 171 days in its latest report, the restaurant brokers are seeing tighter timelines between listing and contract date.  Of course, getting to the closing table is still dependent on the landlord and in some cases, the franchise or lender as well.

The national report shows transactions were up 15% over the same time period last year and with new quality listings like the ones we just signed, we expect to exceed that trend in the fourth quarter. With the velocity of transactions, it is doubtful any of these Georgia restaurants for sale will remain available beyond a relatively short window. 

For a look at all our Georgia Restaurants for sale, visit us online or click the link below.

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Topics: buying a restaurant

Buying a Restaurant with an E-2 Visa?  Here’s the Process from the Restaurant Brokers

Posted by Robin Gagnon on Oct 26, 2016 9:13:25 AM

 

An E-2 visa can be a great way to buy a restaurant and simultaneously get to the “head of the line” when it comes to immigration status. How does it work?  An E-2 visa can be obtained by citizens of countries where the United States has a “treaty of commerce and navigation.”  This allows restaurant buyers coming to the U.S. to get an expedited visa since they are making a substantial investment in the United States.

e2 visa.jpg

Not every single country in the world will qualify and for a list, you can visit the State Department website or the United States immigration website at this link. Admittedly, some countries are easier than others (easy, Australia, Canada, Germany while tougher – Iran, Iraq or any other Middle East country).

If you are originating from a nation with a treaty of commerce, you (or the business) has to meet five criteria to get this type of visa.

  • You have to be coming to the U.S to invest in a new or existing enterprise. The restaurant brokers have found that franchise operations tend to be looked at more favorably when establishing this criteria but any business can qualify. It can be a startup business but we find these to require much in-depth business plan.
  • The business investment must be in a ‘bona fide” enterprise and can’t be marginal. What does that mean?  This is pretty straightforward.  You have to show that the business has operated with a tax ID number, filed tax returns, has a lease, pays people, has a business license, etc. That means when buying a restaurant for an E2 visa purpose, you must have good books and records since everything has to be submitted for review to the government. To prove the business isn’t marginal, you’ll need financial statements, tax returns and/or a business plan that shows the business will produce more than a “minimal” living for you and your family or will create a significant economic contribution. If you’re looking at restaurants for sale, virtually anything meeting the qualifications for SBA lending would be suitable for an E-2 visa.
  • You have to be in possession of all the funds to invest and they have to be committed to the business. There is no lending.  You must have cash up front to buy the restaurant and 100% of the funds will have to be in escrow with the attorney.
  • You have to provide the source of funding. The U.S. government says they want a “clear and legitimate path” regarding the source of capital you’re investing.  They want to make sure the money you are spending didn’t come into your control through criminal means.  Usually if it’s in a bank, that’s good enough to demonstrate this requirement for buying a restaurant with an E-2 visa.
  • You have to “Develop and Direct” the business. There is no approval if you’re purchasing the restaurant with a “hands-off” or absentee approach. The point of the visa is to make sure you are coming to the U.S. for this very purpose so you’ll need to have a corporation or operating agreement that shows you control more than 50% of the business.

That’s it.  Meet those simple and straightforward five requirements and you’re set to move to the front of the line and get your visa.  Use a good attorney and anticipate that it can take between 3 – 4 months depending on the originating country between signing a deal and closing. 

Here are a few quick tips to make sure you visa process goes smoothly. 

First, make sure your restaurant broker is aware this is for a visa so the contingency can be pre-written into the contract.  The seller needs to know that it is a longer path to closing and not all will agree to these terms.

Second, if you’re buying a franchise, make sure you’ll be able to enter and leave the U.S. in the interim as you will need to attend their Discovery Day and training, then leave to go back to your native country before returning to close on the restaurant.

Lastly, choice of your attorney is critical.  Good attorneys have done this multiple times.  Others are learning at your expense.  Ask the restaurant brokers for a referral for attorneys that have handled multiple visas and have high success rates.

If you have questions about E-2 visas or need recommendations for an attorney, contact the restaurant brokers and we can put you in touch with some excellent resources.  For a list of restaurants that will qualify for a visa, visit our restaurants for sale at this link.

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Topics: buying a restaurant

Franchise Restaurant Units Growing!  Latest Deals Discovered by the Restaurant Brokers

Posted by Robin Gagnon on Oct 20, 2016 7:01:17 PM

It seems there is no end to the excitement for additional restaurant units to be built in the franchise space.  We have consulted with our friends at Franchise Times, scoured the news releases and tracked who's announcing new franchise deals.  Here's what we've learned. 

Can we start with the biggest deal we've seen ever?  We're talking about the self-described "Absolute Wurst"  or Dog Haus who signed a deal for a whopping 300 units.  That's not a typo -- we said 300 units.  The deal, according to Nations Restaurant News is going to bring an investment of more than $500 million to fuel the hot dog brand’s growth from American Development Partners.  The current chain is just 21 units so it's growing more than 15 fold with this announcement  to construct more than 300 Dog Haus locations in 11 states over the next seven years. With the 300 unit deal and other commitments in the pipeline, the store count will hit 450 in record time.  Dog Haus Partner Andre Vener co-founded the concept with friends and fellow partners Hagop Giragossian and Quasim Riaz in 2010. The deal, which is American Development Partners' biggest commitment to date, has a projected real estate, construction and design investment value of over $500 million.  

hot-dogs-676469_1280.jpgCalifornia is a tough state to compete in but Bajwa Group is bullish on the market.  Restuarant brokers in that market tell us that between occupancy costs and impact fees, it's very expensive to launch new stores.  That hasn't stopped Del Taco Restaurants who's adding five more restaurants in San Diego County by 2020.  Dickey’s Barbecue Pit is also growing on the West Coast in its second biggest state (behind Texas). Four new stores are on the books to open in Spring 2017 in Foothill Ranch. Two in Irvine and one in Mission Viejo are to follow. The four new locations are included in a development agreement between Dickey’s and new franchisee Scott Cole. The state will also see grwoth from Dunkin' Donuts franchisee, Precision Hospitality & Development. They announced a commitment to open California's Orange County's first combo, Dunkin' Donuts and Baskin-Robbins in Foothill Ranch. The group also plans to add several additional Dunkin' Donuts locations in both South Orange County and North Los Angeles.  

Across the nation, other multi-store deals announcedf include Red Urban Bake and Chop Shop's development agreement to open a minimum of 20 locations in four states, Oklahoma, northern Texas, Kansas and Arkansas. The first location is expected to open in spring 2017 in Tulsa, Oklahoma.  

Also announced this week as part of a plan to cut costs and spur growth, Yum Brands aims to sell franchisees thousands of units by the end of 2018, a move the franchisor said will reduce its risk and trim its capital expenditures to $100 million in 2019 according to USA Today.  Those sales would make Yum Brands—which currently franchises 77% of its restaurants—at least 98% franchised.

Fast casual continues to grow and seafood is part of that trend.  Captain D's has announced deals in Georgia, Texas and Virginia.  Dallas is planned to open later this year with two additional stores in the works for the Dallas/Ft Worth market. They also signed with an existing franchisee group (CD Restaurants) to grow more stores in Virginia. Jersey Mike's is opening Long Island beginning in Commack, New York and follwed in November in Uniondale.  

The breakfast daypart is traditionally profit rich so that's one reason the restaurant brokers see unit growth in concepts like First Watch.   This popular breakfast, brunch and lunch concept opened in St. Louis-area onday, October 3. The 3,300-square-foot restaurant will be the 33-year-old company’s ninth First Watch in the St. Louis area and will employ about 25 people.

Uncle Maddio's Pizza recently signed two three-unit franchise agreements for the greater Nashville metropolitan area. Franchisee Michael Eastham, along with his wife, will open his first restaurant in Murfreesboro, Tennessee, mid-November - and is currently searching for locations for his second and third units in Brentwood, Franklin or Hermitage.

Twp dozen new units are in the pipeline for Old Chicago Pizza & Taproom.  Three of its existing franchise partners have agree to open nearly two dozen new restaurants across eight states, including Tennessee, South Carolina, Montana, Wyoming, Oklahoma, Arkansas, Missouri and Mississippi. The franchise groups growing The Collier Group (7 stores) in South Carolina and Tennessee; The Johnson Group (3 stores) in Wyoming and Montana; and The Nursariwala Group, who will be expanding their portfolio with six new locations in Oklahoma, Missouri, Arkansas and Mississippi.

That's the latest deals we see in the pipeline for franchise growth.  The market continues to thrive with new franchise stores. Want to check out our latest listings?

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Topics: buying a restaurant