A Which Wich Franchise Sandwich shop in Georgia joins the list of franchise restaurants sold by the restaurant brokers at We Sell Restaurants recently.

"Franchise restaurants for sale generate strong interest from buyers" says restaurant broker Eric Gagnon of We Sell Restaurants.  They sell quickly and for top dollar when they are established and operating. 

Why the interest in franchise restaurants for sale versus independents?  There are several reasons.  Often first time buyers or those from a corporate background appreciate the process, training and support of a large system.  That's a primary reason buyers choose franchise restaurants for sale over an independent concept.

A second strong justification for buying a franchise restaurant that's operating or a "franchise resale" is the availability of books and records.  Almost all franchise restaurants for sale are required to submit their POS sales electronically to corporate and generate profit and loss statements on a monthly basis.  Independent operators often have only annual P&L's that may not justify the asking price for a buyer.

The third reason that franchise restaurants for sale get strong traction is lending.  Expert restaurant brokers with strong financial backgrounds gather financial information and perform their own due diligence on the businesses before submitting them to Small Business Administration lenders for pre-approval.  That was the case with both recent transactions by We Sell Restaurants.   

In addition, franchisors often work to prepare their restaurants for lending.  They submit business information to the Franchise Registry, a national database accessed by lenders.  That means the franchise has already completed a lot of financial data that lenders can pull down to make quick and effective solutions.  Franchises listed on the Franchise Registry make the loan application process for their franchisees and prospective franchisees as easy and as cheap as possible.  Combine that with a knowledgeable restaurant broker who keeps the deal on track and you have a pipeline for funding. 

The Which Wich franchise sold by We Sell Restaurants was funded by Cornerstone Bank in Georgia. Cheryl Beer, SVP/SBA Lender of the bank had this to say of the transaction, "Cornerstone Bank is excited to fund this deal though our SBA lending program.  We are heavily involved in franchise lending and are excited to fund our first Which Wich sale.  SBA lending continues to be strong for us in the Southeast.” 

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