Advice for Buying a Restaurant and Selling a Restaurant

Restaurants Sales Increase as Transactions Reach Record Highs in Third Quarter

Posted by Robin Gagnon on Oct 30, 2017 12:13:10 PM

The latest report by BizBuySell.com, it’s “Third Quarter 2017 Insight Report” shows the Restaurant Brokers were correct in forecasting a record year for restaurant sales.  Their quarterly data indicates that the nation is on pace for the highest number of restaurant sales since they began tracking a decade ago.   
2017 Q3 Closed Small Business Transactions

In both March and July of this year, the restaurant brokers anticipated strong sales for 2017 saying in March, “These restaurant brokers see strong growth in the number of restaurants for sale hitting the market in the next two years.” In a second posting in July, we continued to cite strong growth writing at the time that, “While Washington remains caught up in politics as usual and movement is at a stalemate, business buyers and business owners are seeing the impact of loosening regulation, easier lending and better economic conditions” as reasons for the growth.

Now the third quarter numbers are out and one of the largest business-for-sale marketplaces, has backed up the restaurant broker’s forecast by reporting 2,589 transactions in the third quarter, a whopping 24 percent increase over the same time period last year. In total, they have year-to-date transactions at 7,491 putting the year on pace to exceed any year since they began tracking in 2007.

While service businesses accounted for thirty-eight percent of the sales in third quarter, restaurant sales accounted for twenty-two percent of the businesses that changed hands.  The financial aspects of the restaurants sold were impressive.  Overall, the average unit volume of the units sold was reported ahead of last year by twenty-two percent and cash flow that was ahead of last year by nearly nine percent.  The selling price of the units was also up nine percent, demonstrating that sellers with strong earnings can command the best pricing.   

2017 Q3 Small Business Sales by Sector

All businesses for sale are turning over quicker.  The latest data from bizbuysell.com indicates median days on the market has virtually plummeted from 171 days for this time last year to just 146 days.  This represents the shortest days on market they have reported in ten years.  The Restaurant Brokers at We Sell Restaurants are spot on this number, with their year to date days on market down twenty-two percent from the same time period last year.  Eric Gagnon, President of We Sell Restaurants had this to say, "Since late last year, we have been seeing much more interest in our restaurant for sale listings and much faster turnover times.  We are also seeing franchisors respond to the need to move more quickly with Discovery Days added and Training Dates shortened to meet demand.  All of this is in response to the velocity in the market." 

In 2016, restaurants accounted for twenty three percent of all small business sales that year.  The median price of the restaurant businesses sold was $160,000 with average unit sales of $485,000.  Bars and Taverns outperformed restaurant sales in 2016, with average selling prices of $209,000 and average volume of $543,092. 

The Restaurant Brokers at We Sell Restaurants are seeing similar results for 2017 with transactions counts ahead of last year by double digits along with higher selling prices on contracts.  We are starting to see a tightening of the credit market associated with SBA lending for restaurant sales.  That’s a cautionary point amidst all the optimism.  Robin Gagnon of We Sell Restaurants says, "We anticipate continued strong transactional volume through 2019 where we anticipate some tightening of prices after too many businesses enter the market and supply outpaces demand.  For now, the market is right if you’re planning to sell."

Interesting is selling your restaurant?  Click the link below to get a response right away from the restaurant brokers at We Sell Restaurants.

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Topics: buying a restaurant, selling a restaurant

3 Spooky Tips for Selling Your Restaurant in Honor of Halloween!

Posted by Robin Gagnon on Oct 27, 2017 10:00:00 AM

Are you a seasoned restaurant owner thinking about selling your restaurant but plagued by doubts and afraid of what you don’t know about the process?  There’s no reason to be spooked by the idea of selling your restaurant even with Halloween hauntings in the air and little Goblins running to and fro clamoring for candy!

Here are three scary thoughts on every seller’s mind, but you don’t have to be haunted by the idea! The Restaurant Brokers are going to handle those fears one at a time.  We are giving you our solutions to these common frightening thoughts when selling your restaurant.  Read on if you dare!

3 Spooky Tips for Selling Your Restaurant (1).png1) “My restaurant isn’t making any money or it’s just breaking even or it’s closed.  No one is going to want to buy this kind of business.”

The Restaurant Brokers hear this one a lot!  It may have crossed your mind.  After all, when you’re working to lower taxes, you’re not thinking about selling your restaurant. On the other hand, you may have a good location but just not have the funds to market.  The good news is, this fear can just be forgotten.  It’s not accurate at all. 

Some businesses actually look like there are bleeding from the profit and loss statement even though they generate a nice living for you and your family.  Put those books in the hands of a strong restaurant broker and he will recast it based on the owner benefit.

Losing money?  Don’t be afraid.  There are plenty of potential buyers that want the challenge of starting over in your location. They want existing space that isn’t making money or even a closed location. These types of restaurants are sold as an “asset sale.”  You won’t get a ton of money but what you do get is someone new that’s responsible under the lease and a fresh start.  Many potential buyers are seeking asset sales in today’s market for access to the leases alone since many have strong long-term leases with option years.  They can be in business quicker and do a simple refresh versus building out from scratch.  Don’t be spooked by a restaurant with less than stellar results.  Our restaurant buyers see this as a great opportunity.

2) “Am I selling a restaurant at the right time? I got a great deal on my restaurant and I’m making a good living off of it, should I even sell?”

It can be very scary to try and “time the market” when selling your restaurant.  How do you know when to pull the trigger?  It is spooky.  For most sellers, it’s a lifestyle choice to get in and they know when it’s time to get out.  If you don’t have the passion and energy you once had to approach your customers and open the door, it may be time to say goodbye.  It is frightening to think about putting it on the market and letting other people see your actual results but a trusted restaurant broker understands these fears and will hold your hand through the entire process of selling your restaurant.    

3) “I don’t even know what my restaurant is worth. My bookkeeper told me it’s worth at least $50,000 more than a local realtor wants to list it.”

Conflicting information can often scare a motivated seller.  You may want to run into hiding and stop even thinking about selling your restaurant. Our best tip is to deal with an expert.  Bookkeepers see figures regarding sales and spending, whereas realtors look at area comps to judge how to list real estate.  While both may be fantastic at what their jobs, they aren’t Certified Restaurant Brokers. Selling your restaurant with a trained and experienced Restaurant Broker will ensure that your business is listed at a competitive price and stays on the market for the shortest period of time possible. 

Selling your restaurant shouldn’t be a scary thing, and the Restaurant Brokers want to make the process as pleasant as possible for you. A good first step is to visit our website and request a FREE valuation by clicking here. We are always here to ease any fears that may come with selling your restaurant.  Give us a call today at 404-800-6700.

Topics: buying a restaurant, selling a restaurant

Kudos to Restaurant Broker Bob Steinberger on closing the deal on another café for sale listing, Wild Sage Cafe!

Posted by Robin Gagnon on Oct 25, 2017 10:30:00 AM

Wild Sage Cafe, another We Sell Restaurants cafe for sale listing, SOLD in Greenwood Village, Colorado in record time thanks to the diligent efforts of Restaurant Broker Bob Steinberger. This listing was on the market for only 64 days and garnered the interest of 68 different potential buyers. What’s even more impressive than the record time on the market is that this café for sale sole for OVER the asking price!

When previous owner Michael Crater of Crater Investments, Inc. had to relocate, he know he could trust Restaurant Broker Bob Steinberger to sell his café for sale quickly. Now, what was one a café for sale, Wild Sage has been transformed into Crisp Café in th5264-Bob_Steinberger_Colorado.pnge Denver Technology Center. The business serves breakfast and lunch Monday through Friday. The interior of this café for sale was completely redone buy the buyer, Christina Richardson. Richardson also opened a kitchen downstairs where she will run her catering business.

This café for sale that has been rebranded is already getting rave reviews from the local community. One patron left an online review stating, “I had a breakfast burrito! SO YUMMY! It is really nice and clean. There is a lot of choices. Oh and did I mention the cappuccino....to die for!!! I will be back!” Menu items include piping hot coffee drinks, build your own sandwich, salad and pasta dishes, hot breakfast and lunch meals, and freshly baked breads and pastries.

Restaurant Broker Bob Steinberger had this advice to give to buyers looking for a small café for sale: had this to say of pizza restaurants for sale: “Have your plan together BEFORE you go looking. This listing received 50 interested buyers in the first week, and multiple parties made simultaneous offers. In the end the one that was accepted was the buyer who provided professional resumes, personal financial statements and a business plan WITH their offer. Their offer was accepted before others were even able to provide proof of funds. If you find the right deal you need to be able to act fast as the competition for these lower priced listings can be intense!”

Are you in the market for a café for sale? Click on the link to be taken to our café for sale listings across the country, and check out all of the listings We Sell Restaurants® has to offer here.

If you would like one of expert Restaurant Brokers to get your café for sale sold, give us a call at (888) 814-8226, or click here for a free valuation of your business.

Topics: buying a restaurant, selling a restaurant

Restaurants for Lease are a Great Option for Many Buyers, and The Restaurant Brokers Have the Most Restaurants for Lease Listings.

Posted by Robin Gagnon on Oct 23, 2017 10:26:30 AM

 

Restaurant space for lease.png

Restaurants for lease have some advantages as far as not having to put all of your capital up front to purchase the business outright or for a hefty down payment on a loan. This money that gets to remain in your hand can be used to upgrade the décor in the dining room and for marketing purposes. If you are on the hunt for restaurants for lease, to keep the most money in your pocket, your best bet is to purchase an existing location that is up to code and already equipped with all or most of the equipment and appliances you will require.

Restaurants for lease are a great option for someone who has never owned a business before, or someone who is not well-known in the area. Someone buying an eatery who is popular within the community will have an easier time bringing patrons to their business and will therefore generate more income as opposed to someone who is almost unknown within the area. The lesser-known individual will have to shell out significantly more money on marketing and advertising expenses to bring business in.

Many restaurants for lease spaces are second generation – meaning before the space was vacated it was a dining establishment. This mean that you won’t have the extra expense of installing kitchen equipment, and in many cases the restaurants for lease space will include the tables and chairs for your use, if you wish to use them. If the restaurants for lease you are looking at were not previously dining establishments, you need to make 100 percent sure that the space you are interested in can be made into one. It is absolutely crucial to bring in a code enforcement officer, health inspector, and a fire marshal so that they can tell you everything that will need to be added or updated. The next step is to discuss with your potential landlord how much, if any, of the repairs and updates they will cover.

The Restaurant Brokers have the most restaurants for lease listings, and we can help you find the perfect spaces all across the United States. Is the mountain lifestyle what you love? We have the perfect location for you! This is one of our restaurants for lease that comes with a view – the Great Smoky Mountains specifically! This space is only 50 miles outside of Atlanta and is a free-standing building with nearly 10,000 square feet of space. Not only do you get a fantastic dining space, but the additional space could be used for a second business! Some ideas would be a health food market, art gallery, or even a space to hold events! Don’t miss checking out this listing here.

Are you more of a beach person? No problem. We have plenty of restaurants for lease listings on the coast. Take for example this listing in Broward County, Florida that used to be an iconic barbecue joint. All of the equipment is there for you to turn this space into the business of your dreams, and the landlord recently replaced the floods and updated the facility to be up to code. The landlord is ready for you to bring your own concept! Check this one out here.

These are just two of the restaurants for lease the Restaurant Brokers have to offer. Why choose a We Sell Restaurants listing? Our Certified Restaurant Brokers have the knowledge and tools necessary to make your transition from browsing restaurants for lease listings into lessee in record time. Take a moment to read our FREE Leasing Guidebook that includes indespensible information for someone considering restaurants for lease. Visit our website and check out all of the restaurants for lease we have to offer, and get ready to get into your business!

Topics: buying a restaurant, selling a restaurant

Restaurant Brokers React to the 5 Reasons Ruby Tuesday Had to be Sold

Posted by Robin Gagnon on Oct 20, 2017 12:48:10 PM

The sale of Ruby Tuesday to NRD Capital this week caught many by surprise.  One of the restaurant brokers favorite authors, Jonathan Maze of Nation's Restaurant News, immediately penned an article titled "5 Reasons Ruby Tuesday Had to be Sold."  The points in that article align with many of the restaurant for sale listings we advertise each day.

Here are his 5 Reasons the restaurant had to be sold and we'll compare and contrast that with the reasons our sellers ask us to sell their restaurants. 

5 Reasons sell.png

Reason 1 -- "Same-store sales have been falling for years. Ruby Tuesday’s same-store sales began declining in about 2006."

Generally, our sellers are contacting the restaurant brokers for this same reason.  Once same store sales begin the decline, sellers start to worry and for some, it's easier to pull the trigger on selling than figure out how to grow volume. On the other hand, seeing same store sales rising can also be the catalyst for restaurants to sell.  Often our sellers are smart enough to jump when the trend is rising rather than waiting for a fall off in revenue.

Reason 2 - "Bar & grill chains are on the outs."   According to Jonathan's article, "Ruby Tuesday operat

es in a sub-sector of the restaurant business that is in steep decline."  He cites examples like Applebee’s, Chili’s, TGI Friday’s and Ruby Tuesday as chains that were booming in the 90's but are facing tremendous challenges today.  Is that correct?  Well, the restaurant brokers agree.  Once legendary and quick to turnover, bar and grill chains are not quick sales today.  Why?  For most, they have very large footprints and along with that, high occupancy costs.  Rents have been rising for the past six years and once those per square foot costs are applied to large spaces (these are 5,000 square feet and larger), the monthly cost to keep the doors open can be staggering.

Fast casual concepts operate in smaller footprints and for that reason, can operate more inexpensively, meaning their fixed costs are lower.  This is definitely a reason for Ruby Tuesday to sell.  It can also be a reason for restaurant sellers to reach out to us.  The Restaurant News writer says, "Bar & grill chains likely have to close hundreds of units to get supply more in line with current demand."  The restaurant brokers agree. 

Reason 3 - "It’s more valuable as a real estate play."  According to documents filed on the sale and quoted from the article, "the sale to NRD gives Ruby Tuesday an enterprise value of $335 million. Its property and equipment assets are valued at $583 million, according to SEC documents.”  In other words, the property values exceed the value of the business itself. 

This was the first thing these restaurant brokers discussed when we saw this news hit the wire.  This is a real estate play. Do others come to us with this reason for selling? Yes.  On more than one occasion, we've seen buyers strip out a concept and take it over for the value of the location, the lease, or the property.  It's definitely a reason we've seen for others to sell a restaurant. 

Reason 4 - "The chain is losing money."  There is no doubt that Ruby Tuesday lost money for several years.  The article we reviewed stated the chain hasn't seen a profit since 2011.  Six years without earnings is definitely a reason to sell.  Is it the reason that restaurant owners contact the restaurant brokers to sell their restaurants?  It is, but only about 30% of the time.  Most of our restaurants for sale are in fact, cash flow positive.  We see only less than a third come into the market losing money.  Most sellers are looking at other reasons to exit the business including:  retirement, partnership splits, divorce, or lifestyle reasons.

Reason 5 - "The Company has a history of strange moves."  The last reason cited by the writer is one of our favorites.  He said it nicely but essentially said the company does stupid things.  He reminded us that even as Ruby Tuesday was on unsure footing, they were exploring and investing in other concepts including:  Asian Cuisine, Seafood and even BBQ at one point. 

We can’t say that this is a common reason for selling your restaurant.  What we do see however, is a lack of judgment and failure to make critical moves when a business starts trending in the wrong direction.  We review the financials for dozens of locations each month.  We often ask sellers why they haven’t adopted a delivery model or why they reduced advertising over the past year when sales are declining.  Some of the responses reflect less than sound reasoning.  The failure to do what’s necessary to drive the business creates an opportunity for a would-be restaurant buyer.

All in all, the five reasons Ruby Tuesday had to be sold are on par with the reasons we see many restaurants come into our inventory. 

If you’re looking for restaurants for sale, check out our inventory online at this link.

 

Check Available Listings

 

Topics: buying a restaurant, selling a restaurant

Restaurant for Sale in Austin - Pho Fortune SOLD by We Sell Restaurants

Posted by Robin Gagnon on Oct 18, 2017 10:00:00 AM

The latest Pho Restaurant for Sale in Austin has moved to the sold column thanks to the efforts of Certified Restaurant Broker, Dave Duce.

The high demand location, Pho Fortune was recently purchased by Rachel Su of Rachsuma, LLC, after a very brief time on the market.  Pho Fortune Photo.jpg

The new owners did an entire re-branding of the operation as Basil Thai Little Hot Pot, at 2501 W. Parmer Lane in Austin Texas.  They were impressed by the history and location of this restaurant for sale.  The business is right off of a six-lane divided roadway in the midst of a busy strip center full of shopping, services, and other dining options.

The new owners of the restaurant for sale wasted no time undertaking the new concept.  The deal was closed on July 31 and a soft opening under the new concept occurred less than one month later!

The new concept, under the name, Basil Thai Little Hot Pot will feature Thai cuisine with a delicious curry-infused menu.

The restaurant sellers, Andy and Jennifer Tang were ready to expand their career options and reached out to We Sell Restaurants.  Dave Duce, Austin’s only Certified Restaurant Broker, had this to say of the transaction, “Helping sellers like Andy and Jennifer is one of the most satisfying parts of my role.  When they were ready to move to a new venture, it was a joy to help them transition to a new career. This was a very popular restaurant for sale listing and we had more than three dozen interested buyers in a very brief time.”

The restaurant for sale by Duce was listed and sold in just 155 days, much faster than the average for transactions nationwide. 

Eric Gagnon, president of We Sell Restaurants, had this to say of the transaction.  “In general, we are seeing faster turnover in the Austin market than some other parts of the United States.  There are limited restaurant for sale opportunities and many buyers, so deals are moving quickly.”

Dave Duce is the Franchise Partner for We Sell Restaurants in Austin Texas.  A restaurant industry veteran, Dave understands the business from the ground up.  Dave is the only Certified Restaurant Broker in the Austin Market.  He underwent extensive training with We Sell Restaurants, along with testing, to receive this designation.  Dave is a member of the Greater Austin Restaurant Assoocation and the Texas Association of Business Brokers.  

Are you in the market for a restaurant for sale in Austin Texas?  Click on the link for more opportunities in the booming marketplace.

Topics: buying a restaurant, selling a restaurant

The Restaurant Brokers Share Food Truck for Sale Listings Benefits of Owning a Food Truck for Sale

Posted by Robin Gagnon on Oct 16, 2017 12:57:58 PM

Have You Considered Looking for a Food Truck for Sale?1-4319039364369.jpg

Many people with no chef experience dream of owning a restaurant someday, and many people with culinary skills cringe at the idea of everything that comes with owning a restaurant. Someone who wants to sell their delicious tacos to the lunchbreak crowd doesn’t want the overhead of a brick and mortar location, large staff, maintaining a restroom, paying expensive utility bills, and the biggest headache of them all: dealing with a landlord. Considering a food truck for sale from the Restaurant Brokers will eliminate most, but not all of these qualms, and will enable you to choose where you want your business to be located each and every day!

Take for example listing 5064, a food truck for sale from the Restaurant Brokers located in Broward County. For $40,000 you can be the owner of your very own mobile eatery. Bring your own concept as this food truck for sale has all the equipment needed to prep, store and cook a variety of menu items. Think you’ve got the best ground sausage breakfast sandwich around? Sell them to the masses from this food truck for sale that has been well maintained and recently fitted with six new tires and a new battery. The only thing this food truck for sale needs is your concept and a new vehicle wrap promoting your business.

Another food truck for sale in Broward County, Florida, is listing 5502. Listed at just under $90,000, this is a large vehicle totaling 27 feet in length. Think about all the space inside to whip up your delicious recipes for hungry festival-goers! The current concept is chicken and burgers, and the food truck for sale is equipped with deep fryers, a grill, cooler, freezer, sink, and so much more. With equipment like this, you can offer an expansive menu to include not only grilled but also fried food. Don’t fret about having enough business – this food truck for sale comes with all of its social media accounts totaling almost 10,000 followers.

Interested in quirky concepts? Check out this unique food truck for sale, listing 5687, located in Centennial, Colorado for less than $55,000. This is a brand-new food truck for sale that has been constructed to resemble a stage coach from the wild west! The builder spared no expense on this food truck for sale and constructed it with fire retardant lumber, Italian leather, and stainless steel. This food truck for sale is not currently equipped with any appliances as the builder wanted the new owner to be 100% able to outfit the vehicle exactly as they want it. Don’t worry about how you will transport this food truck for sale – it also comes with an option to purchase an enclosed trailer! Imagine the crowds that this food truck for sale will draw to it from curious passerby!

If you’ve always loved preparing food for a crowd and want the freedom of owning your own business but not the responsibility of a sticks and bricks restaurant, you absolutely need to consider one of these food truck for sale listings. But don’t stop at just these – We Sell Restaurants has multiple food truck for sale listings across the country. What else is great about these food truck for sale listings? If you aren’t located where they are, hop on a plane and drive it to where YOU want it to be! Check out these and our other listings here.

 

Topics: buying a restaurant, selling a restaurant

The Restaurant Brokers Highlight Restaurants for Sale Along with Benefits of Small Town Living

Posted by Steve Weinbaum on Oct 13, 2017 11:05:59 AM

Looking for great quality of life, lower costs and restaurants for sale to support your family?  Read this article to understand why your search may need to focus on small towns.2-1659.jpg

The majority of profitable restaurants for sale are located in major urban and suburban areas primarily due to their adjacency to multiple residential and business customers. Keep in mind, however, that the more desirable and “populated” the area, the higher the rent, the greater the competition, and the overall cost of living to reside near your business can quickly offset the benefits of being in a prime spot. The Restaurant Brokers at We Sell Restaurants have many successful and highly profitable restaurants for sale in major cities including but not limited to Atlanta, Charlotte, Fort Lauderdale, Denver, and Austin. We also have equally as profitable restaurants for sale listed in more remote areas, and while they may not be in the center of all the action, they do provide a long list of benefits and advantages. 

The first and foremost benefit of restaurants for sale in more remote locations, is the cost of living. Owning a home more than an hour outside of a major city or suburb can cost, in many instances, less than half of what some houses would cost in a more populated area. A lower cost of living translates to a better lifestyle with more disposable income. In the Atlanta market, a 3,000 square foot home can run $700,000 within a 15-mile radius of the city reduce to $500,000 within a 30-mile radius and can cost as little as $250,000-$300,000 in a more remote area. 

Well run restaurants for sale in these areas tend to enjoy longevity and repeat business as a result of the local reputation they’ve built, and the fewer number of establishments serving the area. Rent is another major factor, as it is the single biggest fixed cost on a restaurant profit and loss statement. You can flex how much inventory and supplies you buy and you can manage your staff and wages based on traffic volume, but the rent is the rent. Rents in strong suburban markets such as Gwinnett and Fulton County, Georgia, can range from $25 to $40 per square foot and more. The average rent in these areas for a 2,500 square foot restaurant is around $7,000 per month. However, if you venture out a little further you can find rents as low as $12-$18 per square foot. 

Lastly, and equally as important is quality of life. The pace is slower in smaller towns, people tend to be friendlier, and everyone knows your name. Living in a smaller town is not for everyone, but if you are looking to acquire a business in a small town, and the charm and appeal of living away from the fast pace, high cost urban scene, please check out our listings of restaurants for sale with We Sell Restaurants.  

One of our restaurants for sale in small towns is listing #5560 in North Georgia’s White County. Priced at $249,000, this location has been open for over two decades, is doing over $650,000 in sales, and generating around $100,000 in owner benefit. The space is a very manageable 2,200 square feet with another 1,000 square feet of outside seating. Rent is only $3,400 per month including CAMS.

Another one of the many restaurants for sale outside of cities is listing 5463, located in Thomasville, Georgia. This established and profitable BBQ business has been open for 10 years and generates $730,000 in sales annually. The current owner is completely absentee, and this popular restaurant is still showing a profit. It is priced to sell at $199,900, and there is a great opportunity for an owner operator to come in and make $80,000 to $100,000 annually.  

We Sell Restaurants is the nation’s premier source for buying and selling restaurants for sale across the county. If you are looking for restaurants for sale in Manhattan, Boston, or Raleigh, we have plenty of listings to choose from. If you’re ready for a slower place, we have restaurants for sale for those of you who are looking to uproot from a major city and go somewhere quieter while still maintaining a certain income level. Check out all our listings on wesellrestaurants.com and call one of our certified restaurant brokers today at 404-800-6700.

Topics: buying a restaurant, selling a restaurant

Franchise Restaurant Sales Nationwide - Restaurant Brokers Report

Posted by Robin Gagnon on Oct 11, 2017 12:03:52 PM

A lot of deals were made in September and the Restaurant Brokers are excited to pass along the latest franchise restaurant sales deals inked in the industry.  Here's the scoop ranging from pizza, to famous celebrity restaurants, and even those encouraging veterans to become business owners.  1-4319039364367.jpg

Round Table Pizza recently announced its acquisition by Global Franchise Group (GFG). Round Table has over 500 locations in the United States, Dubai, Bahrain, and Mongolia to name just a few. The pizza franchise is well-known for their active involvement within the communities their franchises are located in, as well as for partnering with the Make-A-Wish Foundation. Round Table Pizza is famous for their made-from-scratch sauce and daily hand-rolled dough.

GFG is based out of Georgia and specializes in quick service restaurant franchises in addition to franchise retailers and other products. The firm operates over a thousand franchise locations spanning more than 40 countries. In addition to the newly acquired Round Table Pizza, GFG also owns MaggieMoo’s and Marble Slab Creamery. 

Hy-Vee, an employee-owned grocery chain that operates over 240 locations throughout the Midwest, is now in a partnership with burger chain Wahlburgers, which is owned by famous actor/musician brothers Donnie and Mark Wahlburger along with their chef brother, Paul. The brothers and their burger chain are also the subject of the A&E show of the same name. The famous family are also owners/operators of Alma Nove, a restaurant that they have had since before opening Wahlburgers.

The deal between Hy-Vee and Wahlburgers makes Hy-Vee the largest franchisee of Wahlburgers, with plans to build 26 new standalone restaurants. Hy-Vee’s restaurants, Hy-Vee’s Market Grille, will also serve select Wahlburgers items at their 84 locations.  Those watching franchise restaurant sales closely will notice that Wahlburgers has been announcing growth frequently over the past year.

The Green Turtle Sports Bar & Grille has penned a deal with Jai Somnath, LLC to develop 10 units in a franchise restaurant sales deal announced for Pennsylvania and New Jersey. The Green Turtle opened in 1976 on the Boardwalk in Ocean City, Maryland, and has since expanded to 44 location along the East Coast. The Green Turtle is the go-to place to view professional sports on the televisions and to enjoy killer drink specials.

Jimboy’s Tacos is expanding their presence in Southern California thanks to a deal with All American Taco Company, promising 20 new franchise restaurant sales locations.

Jimboy’s was founded in 1954 in Grass Valley, California in a trailer converted into a mobile cookery. The taco producer has since expanded to include 38 locations in northern and southern California as well as Nevada. For those of us on the East Coast wondering what the buzz about Jimboy’s is all about – wait patiently, big plans in the future include extending franchise locations across the nation!

The trend toward healthy food alternatives continues to develop.  Two newest franchise restaurant sales announced in this health food sector are for Grabbagreen and Juice it Up!   

Grabbagreen and Green & Go, LLC recently entered into an agreement that promises to develop 10 stores in Southeast Michigan over the next five years. Grabbagreen is a healthy fast casual franchise with many organic menu options, and currently has 24 locations across the United States. They will be grabbing lots of green in the near future, as they have 98 store agreements and over 174 development agreements in the works!

Juice It Up!, a franchise that specializes in smoothie and raw juice bars with 89 locations throughout California just announced that two more franchise locations are in the future for SoCal. This comes after Ken Hardy, a veteran Marine, along with his wife, Kristina, became new franchisees through Juice It Up!'s VetFran Platinum Program. The VetFran Platinum Program offers a $15,000 discount on initial fees.  They also waive 50% of the initial fee for the second unit.  

Are you interested in purchasing an existing franchise restaurant sales available in the market?  Visit our website.  We also help existing franchisee looking to sell their buisness.  Contact us today!

Topics: buying a restaurant, selling a restaurant

Frozen Yogurt Business for Sale, La'Berry, SOLD in Savannah, Georgia

Posted by Robin Gagnon on Oct 9, 2017 9:42:57 AM

Restaurant Broker Dominique Maddox closed the deal on frozen yogurt business for sale, La' Berry Frozen Yogurt Café in Savannah, Georgia.

La’Berry Frozen Yogurt Café in Savannah, Georgia is no longer listed as a frozen yogurt business for sale. This location was not on the market for long before it was sold by Restaurant Broker Dominique Maddox.yogurt-bar-1646623_960_720.jpg

The new owners, Rani Marapally & Vijay Basireddy, knew they couldn’t pass up this great opportunity when they found this frozen yogurt business for sale. Marapally & Basireddy have extensive business experience, and the acquisition of this frozen yogurt business for sale will be their first venture into restaurant ownership. The seller, William Klein, purchased the store in 2016 and has decided to relocate, hence the reason he listed this business with the Restaurant Brokers.

The location of the now off the market frozen yogurt business for sale couldn’t be more ideal – right next to a corner store on busy West Broughton Street. This heavy-traffic street is also home to the nearly 100-year-old Lucas Theatre, Gutstein Gallery (which has displayed original artwork from the likes of Yoko Ono), and the popular Paris Market and Brocante. La’Berry is also close to major retailers as well, including J. Crew, Kate Spade, Urban Outfitters, and H&M. What better way for tourists and locals to cool off after a busy day of shopping than with a cold, sweet treat?

When Marapally & Basireddy researched this frozen yogurt business for sale they did not want to miss out on what Restaurant Broker Dominique Maddox called “a store located in a prime tourist area in Savannah.” Maddox also stated that the new owners purchased this frozen yogurt business for sale “during tourism season, so they won’t lose out on the summer sales!” For the remainder of this season the location will operate as La’Berry, however the new owners will re-brand into an independent store with multiple different sweet treats on the menu!

La’Berry was not your typical frozen yogurt business for sale. The new owners enter into a great opportunity with a loyal customer base that keeps coming in week after week.  Couple that with the tourist traffic that this location sees, and they will be kept busy with their new business venture! If the new owners decide to add more hours and increase the current marketing efforts after the revamping, this location is sure to be an even bigger hit with its customers.

Certified Restaurant Broker Dominique Maddox holds a real estate license in the state of Georgia. He holds a BBA in Business Management from Morehouse College. Maddox was the proud recipient of Business Brokers 2011 “Rookie of the Year” award and was elected to the Board of Directions of the GA Association of Business Brokers in 2012.

Are you in the market for a frozen yogurt business for sale such as this one? Click on the link to be taken to our bagel shops for sale across the country, and check out all of the listings We Sell Restaurants® has to offer here.

If you’re in the market to sell your restaurant, give the restaurant brokers a call at (888) 814-8226, or click here for a free valuation of your restaurant.

Topics: buying a restaurant, selling a restaurant