Advice for Buying a Restaurant and Selling a Restaurant

Ask any Franchise Development leader and they will acknowledge that franchise resales happen – a LOT.  Ask if they have a definitive program in place to handle those franchise resales and the response may be, “not so much.” 

Here are five compelling reasons this Restaurant Broker sets up programs for franchisors nationwide.

Reason 1:

Failure to Plan is not a strategy.  It is rare to find a restaurant franchise group that has a clear vision in writing for franchise resales.  A clear vision means everyone understands the position on resales and it has been properly communicated and shared by everyone from Development to the C-Suite.  Without a clear picture and plan, we see franchise resales be swallowed up or placed to the side of the seemingly more important task of new franchise development.

The problem with this approach is that resales average 8% to 10% of your brand each year and it is difficult to outgrow the impact of these numbers.  If you don’t plan to handle 10% of your stores transferring, you may need to be prepared for those same stores to go dark.  That’s why it’s imperative that you develop a strong resale program.

Reason 2:

No Trigger Identification.  With a definitive program in place, it’s easy for franchisors, like the franchise restaurant groups we work with to identify the “triggers” for resales within the system.  These can include items like expirations, renewals, legal issues, operational issues, or financial issues.  A well crafted program, anticipates transfers through early warning systems set up against these triggers to anticipate store turnovers.

By monitoring these triggers, you can bring in resources to transfer those stores, rather than see them fail.  Quick implementation of a franchise resale strategy can ensure the stores turn over to new owners rather than losing the location.  

Reason 3:

Things change.  A plan for franchise resales includes discussions around succession planning with your Operations team and franchisees at least annually.  They should be tracking the plan for each unit.  Even with a plan in place, you may still be caught off guard by the “Three D’s” of resales – death, divorce and drugs.

With a culture that encourages discussion around the next generation of store ownership however, and partners who know how to make the stores move into the hands of those outside the family where necessary, each store has the potential to be saved.

We see many franchise restaurant operators surprised when the next generation of leadership simply moves on to another field.  That’s why discussions on succession planning are critical.

Reason 4:

It’s a different client.  While most marketing teams have a strong development strategy for attracting new buyers to the brand that is well funded and carefully reviewed, the story is often a bit more muddled for franchise resales.

Unless your marketing team has a strong plan for attracting those to “second generation” opportunities or franchise resales, you have missed the mark and it’s a compelling reason for bringing in an expert to help you get this on track.  The customer for a franchise resales is not the same as a new location.  They will have a higher aversion to risk and a different need for lending.  Pushing them through the same lead funnel as new franchise sales or attempting to attract them with the same marketing messages sets you up for failure.

Reason 5:

Intellectual Property Control.  Your trademark and the use of the brand in marketing franchise resale locations by third party brokers or for sale by owner messaging can attract the wrong attention from new franchise candidates.

Have you considered how and when your logo can be used on a franchise resale versus a new sale situation?  A well planned program will make sure you do not lose control of that valuable intellectual property and ensure that any ads for franchise resales conform to your requirements for the brand.

These are just five of the top twenty compelling reasons you should have a well thought out franchise resale program whether you are a 50- unit franchise restaurant brand or a 100-unit service concept.

As a Restaurant Broker, I set up programs for franchisors across the nation to confirm that these compelling reasons result in a strategy that retains and attracts the best clients for franchise resales.  For a look at some of our franchise restaurant resale listings, click this link.

We'll continue with this five-part series on compelling reasons why franchisors need a resale program in the coming posts.

Selling your restaurant should not result in a bargain basement pricing and a stressful situation.  Here are tips from the nation’s most successful restaurants brokers at We Sell Restaurants.  Use these tips to improve the price you receive and shorten the time on market when selling your restaurant.

Tip #1 – Don’t overprice the Business

You may be tempted to tell the Restaurant Broker you’re working with the pricing you want for your business but unfortunately, that’s not how valuation works. The market, the earnings and math arrive at the right answer.  You can be driving the pricing down by listing too high.  Here’s how.  Your Certified Restaurant Broker tells you the valuation based on the earnings model and what it will qualify for with SBA lending.  You counter that you need $100,000 more.  The broker agrees to the pricing and you go on the market for a very L-O-N-G time with no activity.

After months on the market with no activity, you agree to lower the price.  Unfortunately, your listing is now stale.  It has already been exposed to those shopping in the market.  It will now have the stigma of a major price reduction associated with it.

Meanwhile, you are accruing more months of operating costs, maybe at a profit or maybe at break even or a loss.  Did this benefit you with selling your restaurant or overall lower the pricing?  Odds are the buyer who comes in will now smell blood in the water and offer less than the original price recommended to you by a true professional.  Over pricing your store at the outset depresses pricing over time.

Tip #2 – Negotiate Fixed Costs Where Possible

If possible, work to renegotiate fixed costs, especially occupancy costs to raise the selling price of a business.  Every dollar saved on the bottom line is added to your selling price at a multiple, increasing the pricing.  If you are in a mall location and have not worked to renegotiate pricing in the past three years, get a good attorney or representative to assist you and get busy.  Malls are bleeding shoppers, market share and tenants.  You should be able to score a rent reduction. 

If you are in a hot area with a below market rent, this strategy won’t work but good rates and plenty of option years make your restaurant more valuable in the long run. Make sure you have at least enough lease term plus option years to meet the magic 10-year mark, the requirement for SBA lending. 

Tip # 3 – Use an Expert

There are several firms who may represent you in selling your restaurant but only a specialist has a database of buyers who are actively seeking businesses like yours today.  Someone representing buyers for anything from a convenience store to the corner garage will not have the training and experience to adequately price the business.  Similarly, they won’t have the buyer database shopping ONLY for restaurants like yours.

Tip #4 – Be Sure Your Books Are Solid  

The highest pricing obtained when selling your restaurant comes from good books and records which translate into lending for your store.  The lending market is very strong at this time however, sloppy bookkeeping or running money “off the books” will result in a decrease in pricing as the best listings at premium pricing will qualify for lending with a down payment of 20% or so.

Tip #5 – Keep Your P&L Up to Date

Once your store is listed at the highest possible pricing, then make sure you keep your profit and loss statement up to date.  The first thing a buyer wants is a deeper dive into the business.  That means selling your restaurant is not a “one and done” production of numbers but an ongoing exercise.  Pay more to keep your bookkeeper or CPA focused on getting the numbers out on a monthly or worst case scenario, quarterly basis.

These five tips will improve the overall price when selling your restaurant and ensure that the offers you receive are fair and appropriate in today’s active market.

Are you interested in selling your restaurant?  Give us a call at 888 814 8226 or click this link for selling a restaurant to receive a call from the nation’s only Certified Restaurant Brokers at We Sell Restaurants.

Share your journey to buy a restaurant on the national level.  We Sell Restaurants is assisting in a casting call for restaurant buyers for a national TV show.

Are you a husband and wife team with a dream for a diner?  How about a partnership seeking a place for your new cuisine that’s never been seen before?  A national show focused on the process of buying a restaurant has asked the team at We Sell Restaurants to find those who want to share their store.

Why is a casting company consulting with We Sell Restaurants?  It’s simple.  We sell more restaurants than anyone else. PERIOD.  That means Hollywood is knocking on our door to meet our many buyers for restaurant opportunities that look at lot like YOU!

Ready to give it a try?  The steps in the process are simple.

First – Decide you want to know more and send an email to robin@wesellrestaurants.com

Second – Describe your journey to buy a restaurant in a quick sentence or two.  Describe who you are partnered with on this venture to land in the restaurant business.  

Third – The casting company will reach out to see if you are a fit for their needs!  They are looking for high energy people who are not the least bit camera shy!

Time is short so don’t delay on the opportunity to shed some light on your new venture. 

The agency is particularly interested in a team of buyers – more than one person.  This can be a husband and wife team, college buddies buying a bar or significant others taking steps to work together outside the corporate mold.

Are you the right fit?  Maybe.  Do you have an enthusiasm for buying a restaurant that can’t be quenched?  Do you mind telling your story to others who might have a similar dream? 

Robin Gagnon, co-founder of We Sell Restaurants said this of the opportunity, “It is a thrill to help so many buyers achieve the American dream of restaurant ownership. We are excited to see a network fielding a show about the journey these buyers take along the way.  We hope to see our buyers featured prominently when this goes to production.”

Apply by sending a note to  robin@wesellrestaurants.com with the information on why you would be perfect and we will pass it along.  

Make sure you are not camera shy and your whole team is ready to tell a story – particularly an engaging story about starting over, leaving corporate America and living a new dream in the hospitality industry.  You must be available for production in Atlanta sometime later this year but dates will be discussed by the production company.

Let’s get you live on the big screen!  Send your notes today and we’ll introduce you to the casting team.

Those in the market to buy a restaurant were incredibly active in January of the new year.  We saw web traffic increase by 40.21% while customers of the We Sell Restaurants brand grew 45.12%.  Those led to increased clicks, calls and contacts from both buyers and sellers.  The best restaurants for sale are gauged to be those in the top 1% of all contact for the month focused on those who sign an online confidentiality agreement and engage with us for more information our the restaurants for sale.

That means these top 10 represented the most traffic, calls, clicks and contacts across more than 550 listings across 40 states in the country.  Overall,  Austin Texas dominated the best restaurant list with 50% of the buyers originating in that market.  They held the number one spot as well.

Listing ID:6763 Restaurant Broker Justin Scotto     Southern Country Restaurant with Over 1 Million in Sales and Real Estate! Lease: Currently no lease in place Monthly Rent: $ none in place, Inside Sq. Ft. 2500, Outside Sq. Ft. 150 Price:$535,000 Justin Scotto (704) 609-4460 The second most popular restaurant for sale opportunity for the month was located in Austin Texas who continued a strong trend of attracting many looks for their location.  Certified Restaurant Broker Dave Duce offered this location at rock bottom pricing which is certainly part of the strong interest. Listing ID:6826 Restaurant Broker Dave Duce     All Offers Considered! Motivated Seller. Austin Wing Franchise for Sale. Lease: expires December 2021 + 5 year option Monthly Rent: $6750, Inside Sq. Ft. 1800, Outside Sq. Ft. 150 Price:$55,000 City:Austin Dave Duce (512) 773-5272 The third place position on the best restaurants for sale this month was also representing Austin Texas which is obviously a hotbed of activity for restaurant brands.  This listing made the best restaurant for sale list due to a rock bottom price point on second generation space.  The new buyer can start from an existing build out business and simply modify signage and decor to be in business tomorrow. Listing ID:7263 Restaurant Broker Dave Duce     Restaurant for Sale - 2nd Generation Space in Austin is FULLY Equipped! Lease: expires June 2023 + 5 yr option Monthly Rent: $4800- Inside Sq. Ft. 2100- Outside Sq. Ft. Price:$64,900 City:Austin Dave Duce (512) 773-5272 The best restaurants for sale will always include those with homerun locations and this one on the Beltway in Atlanta fit the bill!  The strong sales returned by this unit are in line with the high volume and high velocity area of this major metro.  This one's in contract and set for closing before long. Listing ID:7171 Restaurant Broker Robin Gagnon     Cafe for Sale - Great Beltline Location Generates $700,000 on limited menu! Lease: September 2023 Monthly Rent: $9669.07, Inside Sq. Ft. 2126, Outside Sq. Ft. Price:$99,995 City:Atlanta Robin Gagnon (404) 800-6700 A brewery for sale in Denver was one of the best for the month. The location, listed by Restaurant Broker Chris Gordon, is priced at six figures for a tremendous build out and is sure to be snapped up soon by some of the buyers focused on this opportunity. Listing ID:7415 Restaurant Broker Chris Gordon     Brewery for Sale in Greater Denver with clean build out Lease: Exp March 1st, 2023 Monthly Rent: $1896, Inside Sq. Ft. 2000, Outside Sq. Ft. Price:$150,000 City:Denver Chris Gordon (303) 594-4247 Pompano Beach Florida is an ideal location for a business since the state features lots of retirees that avoid meal preparation at home and enjoy no state income tax.  This Breakfast and Lunch location was part of the best restaurants for sale due to the strong traffic to the listing. Listing ID:7229 Restaurant Broker Ken Eisenband     Breakfast & Lunch Cafe for Sale in Pompano Beach – Profitable, Low Rent Lease: May 31, 2024 Monthly Rent: $2267, Inside Sq. Ft. 1800, Outside Sq. Ft. Price:$99,000 City:Pompano Beach Ken Eisenband (561) 350-3365 Rounding out the last 30% of the top restaurants for sale is a deli in Fort Lauderdale with strong earnings for an owner/operator.  This is the ideal scenario for a buyer who wants to be hands on in the business and know their customer's preferences.  Offered by Multi-Unit Franchise Partner Ken Eisenband, this is a strong location sure to be placed in contract soon. Listing ID:7276 Restaurant Broker Ken Eisenband     Deli for Sale in Broward County will net $80,000 to Owner/Operator Lease: Expires on May28, 2024 Monthly Rent: $4926.34, Inside Sq. Ft. 1200, Outside Sq. Ft. Price:$89,000 City:Fort Lauderdale Ken Eisenband (561) 350-3365 A low priced offering in Charlotte North Carolina will be available for the blank slate of a new operator.  This location. offered by Justin Scotto is turn key and so easy to operate  - at just 900 square feet.  The location is ideal for someone starting out who wants proof of concept before expanding. Listing ID:7139 Restaurant Broker Justin Scotto     Charlotte Coffee Shop Cafe For Sale is Turn-Key and Popular Location Lease: 2 Monthly Rent: $2163.73, Inside Sq. Ft. 900, Outside Sq. Ft. Price:$35,000 City:Charlotte Justin Scotto (704) 609-4460 Austin returns to the best restaurants for sale list with yet another listing.  Restaurant Broker Dave Duce also represents this location in Texas that generated strong activity, clicks, calls and messages for the month Listing ID:7227 Restaurant Broker Dave Duce     Huge Restaurant for Sale - Second generation location in Austin Texas. Lease: expires November 2020 Monthly Rent: $6700, Inside Sq. Ft. 4266, Outside Sq. Ft. 0 Price:$60,000 City:Austin Dave Duce (512) 773-5272 The best of January 2020 included three stores in Austin Texas, indicating this is still a hotbed of opportunity with strong buyer and seller interest.  In addition, the strength of the market is evident in the breadth of offerings that attracting attention, ranging from concepts for redevelopment to those generating strong earnings today.   The Restaurant Brokers will continue to monitor the market and provide feedback on the best restaurants for sale over the coming months.

The International Franchise Association (IFA) meeting is over and while we have returned exhausted, we are also energized by the conference aptly themed, "Franchising's Future Starts with Us." We are thrilled with the level of interactions and opportunity that We Sell Restaurants was able to uncover at the annual event attended by Robin and Eric Gagnon along with Steve Weinbaum of We Sell Restaurants. 

Here are some of the highlights. 

Annual Leadership Conference - Robin served on the committee for the Annual Leadership Conference which featured the award of the Crystal Compass to Paul Pickett, Chief Development Officer of Wild Birds Unlimited.  His thoughtful acceptance speech featured seven key parts of his core values he uses daily.  In addition, Dippin' Dots CEO Scott Fischer, who was recently on Undercover BOSS, shared the story of acquiring this brand out of bankruptcy with 100% debt and diversifying and building a mega brand.  Lastly, Peter Holt, CEO of The Joint Chiropractic allowed his brand to be the Case Study for teams to analyze what went right and wrong in their path to franchise growth. His statement to, "Follow your Pain" resonated with this attendee. 

CFE Graduation – Robin Gagnon, Co-Founder and the firm's Chief Marketing Officer graduated as part of the Certified Franchise Executive Class of 2020.  The graduates were honored on stage at the General Session and with a pinning ceremony with the President of IFA and other notables in the room. In the picture collage, you see Robin with Shannon Iverson of Marco’s Pizza, a fellow CFE graduate who is part of the Franchise Development team for the brand. 

VetFran - Eric Gagnon, President of We Sell Restaurants, is a member of the national VetFran Committee. Founded in 1991, VetFran is a strategic initiative of the International Franchise Association and the Franchise Education and Research Foundation. The group works to stand beside veterans through their transition to civilian life and entrepreneurship. Eric worked on initiatives at the conference to continue this important work.

Networking - Steve Weinbaum, Certified Restaurant Broker, attended the Orlando Conference and took countless meetings to discuss resale programs for major chains.  He represented the brand with distinction at multiple educational and social events.

Speaking - Robin Gagnon also developed and led a panel titled, “Raising the Value of Your Franchise through a Well-Executed Resale Program.”  Her fellow panelists were Cherry Hearn, President of Which Wich, Kitt Shipe, Franchise Attorney for Kilpatrick Townsend and Peter Baldine, President of Moran Brands. 

She developed knowledge and experience from the panel to demonstrate how a well-executed franchise transfer program can increase the value of the franchisor in five critical ways:

• Attracting new candidates who will not only acquire existing units but also sign development agreements to grow additional stores.  
• Raise the “after-market” or resale value of franchise units.
• Bring new capital to tired units as they transfer and refresh the locations to the current standards.
• Raise AUV as older stores transition to new, energized owners who will embrace the latest franchise strategies and raise sales in underperforming or aging units
• Provide existing franchisees with assurances that they are building a valuable, transferable asset

Friends - We Sell Restaurants was able to interact and greet familiar faces like Don Fox and Brent Greenwood of Firehouse Subs, Trey Doster from Zaxby's and Charles Watson of Tropical Smoothies Cafe.  The We Sell Restaurants team wined, dined and networked for three solid days. 

Women's Franchise Committee - Robin was named the incoming Vice Chair of the Women's Franchise Committee at the national level and is shown above with the current Chair, Michele Rowan, CEO of Franchise Business Review. Formed in 1996, the Women's Franchise Committee (WFC) is dedicated to inspiring and encouraging women in franchising by creating a network of business professionals dedicated to strengthening the success of women in franchising. The WFC has created programs and resources in order to achieve this goal, ranging from "how to" guides and conferences to local networking chapters.

Education - in addition to committee meetings, the team attended educational sessions to learn the latest in franchise development, best practices and tips for restaurant franchise brands we represent in the marketplace.  Robin led a Roundtable discussion on Franchise Resales for the established franchisor that was well attended as well.  She also kept her LinkedIn feed pumping with photos and updates to the convention.

When the dust settles, we anticipate picking up several new relationships and deepening existing ones after this whirlwind convention. 

BizBuySell's Insight Report is out and business transactions overall fell by 5.5 percentage points last year.  At the same time, Restaurant Brokerage firm We Sell Restaurants report the market for restaurant sales is strong and transactions grew by 22.1%.  The firm saw impressive increases in the earnings and sales volume of restaurants changing hands. 

With 2020 officially underway, We Sell Restaurants is weighing in on the recently published BizBuySell Insight Report which is the lead form of information on business sales nationwide. 

According to the 2019 BizBuySell Annual Insight Report, “While small business sales still remain at historically high levels, 2019 transactions took a five percent dip from record-setting 2018 levels.”

They report 9,746 closed sales were reported by brokers in 2019, a 5.5% decrease from the 10,312 deals reported in 2018.

We Sell Restaurants is reporting 22.1% gains over the prior year in transaction count, a statistic beating the national average by a factor of more than 5 to 1.

The BizBuySell Insight report indicates that, while “transactions dipped slightly in 2019, the financial health of small businesses increased with the median revenue of a sold business at $567,000 up seven percent from 2018’s 531,653.

In addition, they reported cash flow from businesses sold in the six figure range and up two percent from the prior year at $122,506.  Overall, they say “While 2018 set the record for most transactions, 2019 has been characterized as having the most financially strong business transactions.”

How did restaurants fare in this market?  BizBuySell says overall, "Restaurants helped pace the strong 2019 financials while experiencing more than 3 percent growth in both median revenue and cash flow.”  Restaurants represented 23% of the total businesses showing up in the hands of new owners.  That means 2,242 restaurants changed hands last year nationwide out of the total of 9,747 small businesses sold.

By contrast, the nation's leading restaurant brokerage firm, We Sell Restaurants is reporting median cash flow for our sellers was up 18.2% versus the national average of 3%. 

We are also reporting that for our sellers, the average sales volume over the prior year increased 60.1% versus the national average of 6.6 percentage points reported by BizBuySell, ten times better than theirs for the year.   

Eric Gagnon, President of We Sell Restaurants, said of the results, “Buyers paid premium pricing for the best listings in the market.  That means they wanted higher value listings that were posting strong sales and earnings.”

BizBuySell indicated overall gains in the fourth quarter where “transactions bounced back to positive growth” and “levels remain historically high.”  BizBuySell’s Insight Report found that Q4 2019 for all businesses outperformed Q4 2018, with 2.3 percent more transactions taking place.  They report that the median selling price grew 8.7 percent,

The fourth quarter of 2019 for the nation’s largest Restaurant Brokerage brand, We Sell Restaurants, saw the count of transactions up by eight percentage points roughly 3 and half times the 2.3 national gain cited by BizBuySell.  However, We Sell Restaurants saw the average selling price of restaurants for sale increase 62.2% over the 2018 selling price averages versus the national median selling price gain of just 8.7%. 

On an earnings basis for fourth quarter, the BizBuySell Insight Report found median cash flow was up 2.4 percent.  For We Sell Restaurants transactions completed in fourth quarter, cash flow was an average of $116,310, a very strong reflection of earnings far above the six figure mark.

The Insight Report also reported on sales by market though they limited this to cities with at least 50 transactions.  Notable increases were seen in Richmond Virginia, Baltimore, Detroit, San Antonio, Dallas and Houston who all experienced gains of more than 23 percent.

We Sell Restaurants performed some demographic analysis on buyers.  Their buyers in 2019 were found to be 47.2%  Caucasian while 52.8% were from other ethnic groups.  Buyers were predominately male with 89% of all transactions acquired by men and only 11% by women.  In the breakdown between Franchise or Independent restaurants, 67% were franchise locations while 33% were independent restaurant for sale stores.

We Sell’s average days on market was 204 days an increase over the prior year of 10%.  We Sell Restaurants co-founder, Robin Gagnon attributed the longer days on market to the count of franchise locations sold noting, “We count our days on market from the date the listing agreement is signed until the closing occurs.  For many franchise locations, where training is required prior to the closing and with long lead times to accommodate the corporate requirements, this can dramatically affect the number of days on market.

What’s on the horizon for 2020?  We are taking a cautiously optimistic approach by balancing continued strong economic news with the regulatory impact of minimum wage increases as 24 states raised their local minimum on January first of this year. The negative impact on the restaurant industry of the minimum wage increases will, in these Restaurant Broker’s opinion, be offset by the overall gains the economy will experience with the trade deals signed into law with Mexico and Canada and pending for China. 

Meanwhile, a BizBuySell survey of business brokers found 75% expect more Baby Boomers to sell their business in 2020 than did in 2019.  They say, “With current listings showing even higher revenue than at the same time last year, up 2.8% to $534,558, demand is likely to follow as buyers leap at the chance to acquire such strong performing companies.”

Eric and Robin Gagnon expect strong demand in Q1 and Q2.  Robin Gagnon says, “With the uncertainty of the impeachment process behind the country and despite the political turmoil, the economy continues to turn in excellent results which the restaurant industry benefits from. We expect continued strong sales that will outperform 2019.”

To see the strongest inventory of restaurants for sale online visit our website.

The BizBuySell Insight Report is a nationally-recognized economic indicator that tracks the health of the U.S. small business economy. Each quarter, BizBuySell analyzes sales and listing prices of small businesses across the United States based on approximately 50,000 businesses for sale and those recently sold, reporting changes in closed transaction rates, valuation multiples and other economic indicators for the small business transaction market. Closed transactions are reported to BizBuySell.com on a voluntary basis by business brokers nationwide. Each report includes real small business data on over 70 major U.S. markets and across 65 small business industries.

Franchise Partner Ken Eisenband sells another one!  We Sell Restaurants announces the latest closing on Sugar Chef in Boynton Beach, Florida.

We Sell Restaurants announced the recent sale of the Sugar Chef bakery located at 1499 SW 30th Avenue in Boynton Beach, Florida.  Marie Roth, a principal of Les Jardins De Bagatelle, Inc., acquired the company from Kate Townsend, the owner of Cakes by Kate Inc.  The transaction was handled by Ken Eisenband of We Sell Restaurants.  

Sugar Chef is a bakery that specializes in premier wedding and occasion cakes. Open for more than two decades, the business in Boynton Beach has a legacy of filling special occasions with delicious baked goods and cakes. 

The buyer, Marie Roth, shared her thoughts on her experience with the We Sell Restaurants group. “My experience while working with We Sell Restaurants and Ken Eisenband was excellent.  Ken is extremely knowledgeable about the industry and his expertise regarding the buying and selling process is nothing short of phenomenal.” 

She continued her praise of the transaction and Ken’s actions saying, “He walked me through each step of the selling process and made sure I understood everything that I needed to do.  He was always available to answer any questions or concerns I had and, even though he is a transactional broker, I really felt he had my back.  Ken is a credit to his field.”

Ken Eisenband leads two offices for We Sell Restaurants with distinction in the southern part of the Sunshine state and directs a team of Restaurant Brokers as a multi-unit owner. He is a member of the Business Brokers of Florida (BBF), where for multiple years, he has received the prestigious Dealmaker Award.  The Dealmaker Award designates Eisenband as one of the top five transaction agents in the state of Florida

Ken has been named to the Million Dollar Club of the BBF each year of his membership.  In 2018, Ken won the Co-Broker of the Year award for the Southern Division of BBF.  He has also prepared training and spoken before the group at large as a subject matter expert in selling restaurants. 

Ken's entire inventory of restaurant for sale locations can be found directly online at wesellrestaurants.com.

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

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

We Sell Restaurants takes all our listings and weighs the calls, contact, views and confidentiality agreements to discover which are the best restaurants to sale and deliver the results.  What did we learn in December?  It appears that Florida dominates the picture.  Maybe the cold weather in other parts of the country are driving restaurant buyers to consider the warm climate of its sunny shores, along with the zero income taxes charged by the state. 

Austin Texas was incredibly popular as well with 40% of the top ten listings for the month focused on this market.  The most popular restaurant for the month was a second generation space in Austin Texas that is fully equipped and ready for a new concept.  Certified Restaurant Broker Dave Duce and Franchise Partner in the Austin market has this one listed at $79,900 and based on the activity, it seems ready to land in someone's hands a a new concept shortly.  

Listing ID:7263 Restaurant Broker Dave Duce     Restaurant for Sale - 2nd Generation Space in Austin is FULLY Equipped! Lease: expires June 2023 + 5 yr option Monthly Rent: $4800- Inside Sq. Ft. 2100- Outside Sq. Ft. Price:$79,900 City:Austin Dave Duce (512) 773-5272 The best restaurant for sale out of Florida for the month is a pizzeria in West Palm Beach.  An excellent rental rate of under $2700 per month made this a favorite with those seeking their slice of the American dream, one pie at a time!  The location is priced to move at just $99,000. Listing ID:7369 Restaurant Broker Ken Eisenband     Pizzeria for Sale in West Palm Beach has Monthly Rent of $2,631 Lease: expires June 30, 2021 plus three year option attached Monthly Rent: $2631, Inside Sq. Ft. 1000, Outside Sq. Ft. Price:$99,000 City:West Palm Beach Ken Eisenband (561) 350-3365 Another location in South Florida -- Broward County was designated one of the best restaurants for sale with a deli location in Fort Lauderdale. The location is churning out excellent cash flow of $80,000 per year and Franchise Partner Ken Eisenband is working with buyers to get this one into a closing quickly. Listing ID:7276 Restaurant Broker Ken Eisenband     Deli for Sale in Broward County will net $80,000 to Owner/Operator Lease: Expires on May28, 2024 Monthly Rent: $4926.34, Inside Sq. Ft. 1200, Outside Sq. Ft. Price:$99,000 City:Fort Lauderdale Ken Eisenband (561) 350-3365 The trend for Austin continued with the third best restaurant for sale in the month, a historic 70 year old cafe for sale just outside the city.  This location demonstrates six figure earnings on the books and had the phone ringing and the website buzzing with activity for Certified Restaurant Broker Dave Duce. Listing ID:6831 Restaurant Broker Dave Duce     Historic 70 year-old Cafe for Sale just Outside of Austin - 6 Figure Earnings Lease: expires May 31, 2020 + 5 yr option Monthly Rent: $4500, Inside Sq. Ft. 4500, Outside Sq. Ft. 0 Price:$290,000 City:Austin Dave Duce (512) 773-5272 The top restaurants for sale demonstrate the continuing theme of Austin, Austin Austin with yet another top five favorite.  This one is an established neighborhood bar for sale in Lakeway Texas.  The sales of over $613,000 attracted bar and restaurant buyers to the location that will get this one off the market quickly and into the hands of a buyer seeking the American Dream in this market. Listing ID:6062 Restaurant Broker Dave Duce     Established Neighborhood Bar for Sale near Austin-Sales over $613,000 Lease: expires July 2019 + 5 yr option Monthly Rent: $9864, Inside Sq. Ft. 3000, Outside Sq. Ft. Price:$99,000 City:Lakeway Dave Duce (512) 773-5272 Justin Scotto, Franchise Partner for Charlotte North Carolina and surrounding areas, also has one of the best restaurants for sale in the month.  His Firehouse Subs listing for two stores with earnings of $90,000 on the books brought out a number of buyers.  This one is ideal for anyone seeking the security of a franchise brand along with earnings that can be verified.  This type of opportunity will qualify for SBA lending and generates a strong return for an owner operator. Listing ID:7258 Restaurant Broker Justin Scotto     Two Franchises for Sale! Firehouse Subs with Earnings of $90,000 Lease: 10 year lease Monthly Rent: $3750.00--4993.58- Inside Sq. Ft. 2684--1841- Outside Sq. Ft. Price:$349,000 Justin Scotto (704) 609-4460 The Austin market is on fire with activity and a bar for sale in Austin Texas making strong money brought out the buyers for Franchise Partner Dave Duce.  His listing, priced at $250,000 had maximum views, calls and inquiries, landing it on the list of best restaurants for sale in the month.  Listing ID:6881 Restaurant Broker Dave Duce     Bar For Sale in Austin, Texas is a Money Maker. Lease: Expires March 31, 2022 Monthly Rent: $11746, Inside Sq. Ft. 4368, Outside Sq. Ft. 300 Price:$250,000 City:Austin Dave Duce (512) 773-5272 The Austin theme continued with another second generation space offered in the market.  A second generation space is one defined as having operated as a restaurant in the past.  That means that important infrastructure like the hood, grease trap and bar coolers are all in place.  In addition, this sort of opportunity often includes the fully furnished front of house.  It can be turnkey ready so all you have to do is change the sign.  This opportunity offered by We Sell Restaurants in Austin Texas attracted buyers looking to do just that.  Listing ID:7227 Restaurant Broker Dave Duce     Huge Restaurant for Sale - Second generation location in Austin Texas. Lease: expires November 2020 Monthly Rent: $6700, Inside Sq. Ft. 4266, Outside Sq. Ft. 0 Price:$90,000 City:Austin Dave Duce (512) 773-5272 The final entry on the best restaurants for sale in the month of December was another Fort Lauderdale location.  Franchise Partner Ken Eisenband reported record calls, inquiries, clicks and confidentiality agreements on a sub shop location that's been in existence for 48 years.  That longevity and customer base attracted buyers who want the consistency of an established location without the costs associated with a franchise unit.   Listing ID:6927 Restaurant Broker Ken Eisenband     Sub Shop for Sale in Fort Lauderdale - 48 Years of Service, Very Proiftable Lease: Expires January 31, 2022 + 3 (5 Year) Options Monthly Rent: $3691, Inside Sq. Ft. 1420, Outside Sq. Ft. 500 Price:$169,000 City:Fort Lauderdale Ken Eisenband (561) 350-3365

Overall, the month of December set records with overall web traffic up by 27% and inquiries by clients ahead of the prior month by 57.5%.  That signals incredibly strong continuing interest in the best restaurants for sale.  For more information on any of these listings and more, visit the We Sell Restaurants website for the most restaurants for sale nationwide.

Twenty-two members of the Georgia Association of Business Brokers (GABB) were named to the 2019 Million Dollar Club and We Sell Restaurants had 100% representation in the Multi-Million Dollar Club for the year. 

The GABB Million Dollar Club Awards is a program that spotlights industry sales professionals recognizing business achievements of professional Business Brokers for successfully closing business acquisition transactions totaling one million dollars or more.

We Sell Restaurants’ brokers were recognized as Multi-Million dollar producers.  In addition, Steve Weinbaum and Robin Gagnon were recognized among the top five Business Brokers for their performance and multi-million dollars in business sales.  Eric Gagnon, President of We Sell Restaurants was also named to the Multi-Million Dollar club and said of the group's achievements,  "This was an outstanding result for the team and in particular, Steve Weinbaum.  His performance was recognized as the third highest in the state."  He added.  "To see every member of the We Sell Restaurants team meet this important milestone of multi-million dollars in sales is very exciting." 

STEVE WEINBAUM of We Sell Restaurants is a licensed real estate salesperson in Georgia and Florida and has been a Certified Restaurant Broker for more than four years with the ability to sell restaurants throughout the United States. He graduated from SUNY Albany and has over 30 years of experience in business analysis, marketing, sales, relationship management and contract negotiations. He is a member of the GRA, GABB and BBF. Steve can quickly and accurately review and evaluate financial data. This skill enables him to provide sound valuation feedback and business guidance. His years of experience negotiating complex business-to-business contracts translates to high closing rates. Steve has experience with Casual Dining and Quick Serve Franchise brands, growing both sales and customer engagement. As a Certified Restaurant Broker, Steve is closing an average of two businesses per month and is skilled in complex lease negotiations. His success is highlighted by the personal attention he devotes to each client.

ROBIN GAGNON CFE, MBA, CBI is the co-founder of We Sell Restaurants, the largest restaurant brokerage firm in the nation and the only franchisor dedicated exclusively to restaurant sales. A Certified Franchise Executive, she is one of the most prolific Restaurant Brokers in the industry and is a specialist in franchise resales. In addition, she has completed study, testing and experience requirements by the International Business Brokers Association to be awarded the credential of Certified Business Intermediary or CBI. Robin is the co-author of Appetite for Acquisition, an award winning book for restaurant buyers. She serves on the Women’s Franchise Committee of the IFA and is past chair of the Women’s Franchise Network Atlanta and current member of its Executive Board. Robin holds an MBA and graduated first in her class where she was named "Outstanding MBA” from her business school.  She is a lifetime emeritus member of the Appalachian State University Business Advisory Council and founding member of the Entrepreneurship Board. Robin is a licensed real estate salesperson in both Georgia and Florida and member of the Business Brokers of Florida and the GABB. She has been named a National Industry Expert by Business Brokerage Press in Franchise Resales. She teaches the only Certified Restaurant Broker training offered nationwide as part of the We Sell Restaurants franchise brand.

ERIC GAGNON is the founder and President of We Sell Restaurants and wesellrestaurants.com. Eric is an industry expert in restaurant sales and holds the Certified Business Intermediary (CBI) designation from the International Business Brokerage Association (IBBA).  A frequent writer and speaker in the restaurant industry, Eric co-authored Appetite for Acquisition, an award-winning book on buying restaurants. Eric was named a Fellow of the IBBA in 2018 for his outstanding contribution to the business brokerage industry and was a recipient of the Outstanding Producer Award given by the International Business Brokers Association for multiple years. Eric began his career in the financial services industry for Bank of America, Bank of New York and big five accounting firm, KPMG before launching the nation’s premiere restaurant brokerage firm and restaurant brokerage franchise nearly two decades ago. He oversees the development and training of Restaurant Brokers nationwide and has created the industry's only Certified Restaurant Broker coursework and testing program. Mr. Gagnon is a past GABB president, a Lifetime Member of the Million Dollar Club and received the GABB Phoenix Award, presented to a select few who have received the Million Dollar Award for more than a decade.  He is also a member of the Business Brokers of Florida (BBF). Eric is a member of the International Franchise Association (IFA) where he serves as a board member for VetFran, a strategic initiative of the IFA and the Franchise Education and Research Foundation. He currently serves on the Board of Directions for the Southeast Franchise Forum (SEFF). Eric has also been designated a Business Industry Expert by Business Brokerage Press.

The Georgia Association of Business Brokers (GABB) is the state’s only professional organization dedicated to buying and selling businesses and franchises.  The GABB’s website t lists hundreds of businesses and franchises for sale throughout Georgia in a variety of fields, including automotive, business services, child care, cleaning, construction, electronics equipment, fitness, flooring, floral, food, gas stations, landscaping, manufacturing, medical, shipping, restaurants, retail, security, signs, and businesses related to the internet.

We Sell Restaurants is the nation's largest restaurant brokerage firm in the nation, specializing in professional services for buyers and sellers in the restaurant industry. 

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

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

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

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

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

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

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

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

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