Advice for Buying a Restaurant and Selling a Restaurant

Restaurant Brokers Radio Show - SBDC

Posted by WSR Operations on May 22, 2015 3:05:24 PM

May 22, 2015 – This week the restaurant brokers are talking about the Small Business Development Center or SBDC and why restaurant owners or would-be restaurant owners NEED to know about it. Small Business Development Centers (SBDCs) provide assistance to small businesses and aspiring entrepreneurs throughout the United States and its territories. SBDCs help entrepreneurs realize the dream of business ownership and help existing businesses remain competitive in a complex, ever-changing global marketplace. SBDCs are hosted by leading universities and state economic development agencies, and funded in part through a partnership with SBA.

SBDC advisors provide aspiring and current small business owners a variety of free business consulting and low-cost training services including: business plan development, financial packaging and lending assistance, exporting and importing support, disaster recovery assistance, procurement and contracting aid, market research help, 8(a) program support, and healthcare guidance.

With dozens of host networks branching out with hundreds of service delivery points throughout the U.S., the District of Columbia, Guam, Puerto Rico, American Samoa and the U.S. Virgin Islands, SBDC assistance is available virtually anywhere.

The Georgia State University Small Business Development Center is a public service unit that provides consulting and training to Georgia small businesses. They are a part of the Robinson College of Business and one of 17 Georgia SBDC Network locations. Their professional business consultants have a combination of advanced education and real-world experience.
On this week’s show, the guests including Jeff Patterson, the Director at the Georgia State Center and Ted Beveridge, a consultant for the group tell the restaurant brokers that, “Small Business is too big to keep in your head.”  They discuss the free consulting services of the SBDC and say that “most people coming in are looking for capital.”  Restaurant owners in start-up or expansion will all need a business plan.  The SBDC team helps owners prepare one for either capital or investment.  They also critique operator’s plans and tell the restaurant brokers that owners should “…get their thick skin on when it comes to business plans.”
Tune into the entire restaurant radio show live on Atlanta radio station WGKA 920 The Answer on Saturday at noon or the rebroadcast Sunday at 1 PM on Biz 1190.

This Week’s Guests:

Jeff Patterson
Jeff has extensive financial industry experience that includes leadership roles in credit administration, commercial lending, operations management, regulatory compliance, and audit administration. His expertise includes loan proposal and business plan preparation, cash flow management, budgeting, and customer satisfaction. He also has brokerage and financial planning training as well as his Commercial Lending Diploma from RMA. 
Ted Beveridge 
Ted spent six years as a successful small business owner prior to joining the Georgia SBDC Network. He has experience in every facet of small business operations and has developed specific expertise in the food and retail sectors. Mr. Beveridge also spent several years in corporate financial roles and is well-versed in quantitative functions like budgeting, financial planning, pricing, and cash-flow forecasting. Additionally, he spent four years conducting search-and-rescue operations in the United States Coast Guard.

Topics: buying a restaurant