Advice for Buying a Restaurant and Selling a Restaurant

Who Says Restaurants for Sale in Georgia Have to Break the Bank? Listings under $75,000!

Posted by Robin Gagnon on Sep 25, 2017 9:04:52 AM

Whether you are looking to buy you first business, or are an established restaurateur, the Restaurant Brokers have a breadth restaurants for sale in Georgia to satisfy your appetite for acquisition. Even better is the amount of restaurants for sale in Georgia we have that are less than $75,000! The four restaurants for sale in Georgia featured below will gain you a great income without requiring you to shell out a fortune to get in the door!

Consider this wing and Asian fusion business that is offered as an asset sale in Decatur. This is one of our restaurants for sale in Georgia that is offered as an asset sale that can be converted to your own unique concept, or kept the same! Most of the business comes from takeout and delivery orders, and the current owner uses Uber to deliver orders. The interior seats 12, but with some red

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esigning this space could hold many more customers and be a primarily dine-in establishment. Lots of equipment is included in the sale and the monthly lease is set at $1,540, which includes water usage. At a price of only $48,000 the Restaurant Brokers don’t see restaurants for sale in Georgia like this one stay on the market for long.

Franchise restaurants for sale in Georgia are sizzling right now, and this fast casual concept is no exception! If you have a family and are looking at restaurants for sale in Georgia that won’t consume all of your time, this franchise is for you! Closed on Sundays, open 9AM-5PM Monday through Saturday, this is ideal for someone looking to enjoy their evenings and weekends. This business has been operating for almost 14 years and is netting the current owner almost $30,000 from $200,000 in sales. If you’re financing your purchase, this is one of the restaurants for sale in Georgia that qualifies for SBA lending AND an E2Visa! Rent is a low $1,900 per month and this franchise restaurant is priced to move at only $55,000.

If Chinese restaurants for sale in Georgia are what you want, consider this beauty in Norcross. The location is prime – within a shopping center in close proximity to apartments, businesses and stores. Delivery service is offered within a limited location, and a new owner/operator could increase the current monthly sales of $25,000 by increasing the delivery radius and hours. Not interested in the current concept? Bring your own! This is one of the restaurants for sale in Georgia that could easily be converted into any concept of takeout and delivery dishes. Bring your offers, restaurants for sale in Georgia priced like this one at only $50,000 sell fast!

Restaurants for sale in Georgia that need ZERO work at an affordable price don’t come around often, so don’t delay on making an offer on this turnkey business located in Bethlehem. With more than $300,000 invested by the current owner, it’s a no brainer that this is a steal at only $75,000! Located close to numerous churches, a large craft store, major retailers and supermarkets as well as a movie theater, this business brings in the crowds! Finance this purchase with an SBA loan or an E2 Visa!

If you are ready to purchase one of the restaurants for sale in Georgia from the Restaurant Brokers, or if you’re ready to list your businesses as one of our restaurants for sale in Georgia, contact We Sell Restaurants today at 404-800-6700 or via email at [email protected]. Click here to view all of the restaurants for sale listings from We Sell Restaurants.

Topics: buying a restaurant, selling a restaurant

Restaurant Broker Dominique Maddox Sells Firehouse Subs in Atlanta

Posted by Robin Gagnon on Sep 19, 2017 11:12:40 AM

What happens when you pair a franchise restaurant entrepreneur and a great Restaurant Broker?  A deal of course.  We Sell Restaurants announces the sale of Firehouse Subs located at 5610 Glenridge Drive in Atlanta.  The transaction was brokered by Certified Restaurant Broker Dominque Maddox.   

52052-FHS_Subs_cover_pic.jpgAtlanta multi-unit owner Rohaid Nanji and his group were ready to diversify.  These seasoned multi-unit operators of the Little Caesars pizza franchise stores began seeking new opportunities and information on Firehouse Subs.  The group has years of experience in not only the Restaurant industry but other ventures. They were ready to diversify their portfolio of restaurants and sought the services of Restaurant Broker Dominique Maddox, a professional with great experience in the brand.  They made an offer on the Glendridge Springs store and acquired a second Firehouse Subs for sale by owner at the same time.

The Rohaid group is excited about joining the Firehouse Subs brand and enjoyed the extensive training offered by the brand.  They are starting this new experience as newlyweds to the FIrehouse Subs brand and as actually newlyweds since Rohaid not only acquired two stores but was also recently married.

Restaurant Broker Dominique Maddox of We Sell Restaurants had this to say of the transaction.  "It is great to work with experienced franchise restaurant owners like this group. They are dedicated to the process and appreciate the systemic approach and process offered in a franchise restaurant sale transaction.

The Seller Rick Szabo is the owner of this Firehouse Subs  location and one other in the market.  He was downsizing to spend more time with family and cut back on his operations.  Rick operates the store with his son Rich Szabo, after they closed on the deal they packed their bags to watch the UGA vs Notre Dame football game.

Rick. the seller said of the deal, "Dominique, your follow up skills were really impressive, and you helped me sell my restaurant.  ”If I can ever provide a recommendation for you please do not hesitate to let me know."  Dominique worked with Firehouse Subs Area Representative Shawn Hooks to get the deal done. 

The Firehouse Subs franchise restaurant for sale offered by the restaurant brokers was listed for just one month before receiving an offer.  The deal was quickly negotiated and the parties just waited out the training and transition before the Rohaid group could assume control. 

Dominique is a licensed Georgia real estate agent and one of only a handful of Certified Restaurant Brokers operating nationwide.  A graduate of Morehouse College, he attended the school on a football scholarship and brings competitive spirit and energy to the field of restaurant brokerage. His degree is in Business Administration and he started his career with We Sell Restaurants in 2011.  He was named "Rookie of the Year" by the Georgia Association of Business Brokers that same year.  Dominique was also elected as a Director to the Georgia Association of Business Brokers for 2012.

For more listings offered by Restaurant Broker Dominique Maddox, visit this link.  

Topics: buying a restaurant, selling a restaurant

Existing Franchise for Sale - Dickeys BBQ SOLD by Restaurant Broker Dominique Maddox

Posted by Robin Gagnon on Aug 22, 2017 11:03:37 AM

The Restaurant Brokers at We Sell Restaurants announce their latest transaction -  an existing franchise for sale, Dickeys Barbeque Pit in Florence South Carolina.    

What happens when you combine an existing Dickeys BBQ Pit franchise for sale and a restaurant brokerage firm specializing in the sale of businesses?  A happy buyer and seller of course!  Certified Restaurant Broker Dominique Maddox recently served as the listing and selling broker for a unit that is part of the number one barbecue chain in the United States.  The franchise brand has more than 560 locations across 43 states.  

The sellers, DC Ventures, LLC, are the original owners of the existing franchise for sale location, and after nearly five years of successful ownership in Florence South Carolina, they were ready to pass on the reigns to a new buyer! DC Ventures sought out We Sell Restaurants to list their existing franchise for sale, the Dickey’s BBQ in January of 2017.  The popular restaurant was sold in roughly six months from start to finish by Certified Restaurant Broker Dominique Maddox and closed in July!

The new owner, Jeffery A. White, C.P.M., is the CEO and Founder of J.A. White & Associates, Inc., a federal contracting consulting firm. Mr. White has over nearly three decades of experience with federal contracting, and is a former adjunct professor at Pennsylvania State University and instructor at George Washington University. Mr. White smoked the competition from other buyers and is now the proud new owner of the open and operating Dickeys Barbecue Pit in Florence.

The original Dickeys Barbecue Pit was founded in 1941, and the chain started franchising locations in 1994. All Dickeys locations use the same recipes today that were used over 75 years ago at the original location. Menu items include brisket, pork, and chicken that are smoked daily at each location over hickory wood, as well as a variety of bean side dishes, fries, salads, and corn on the cob.

Eric Gagnon, President of We Sell Restaurants, had this to say of the transaction, “More and more buyers are recognizing the value of an existing franchise restaurant for sale rather than developing a new unit from the ground up.  In this case, Mr. White got the benefit of an operating location with cash flow, a customer base and strong sales line.  That’s a real win for him.”

Dominique.jpgDominique Maddox, the Restaurant Broker in the transaction said of the sale, “I participate in many transactions for Dickey’s Barbecue Pit and other existing franchises for sale. It is rewarding for me, as a Restaurant Broker to see both the buyer and seller meet their goal in this transaction.” 

Maddox is a licensed Georgia real estate agent and graduate of Morehouse College which he attended on a football scholarship.  He brings a competitive spirit and unmatched energy to restaurant brokerage.  He has worked in mortgage financing, real estate, business to business sales, and Restaurant Brokerage Sales.  Dominique was named the Georgia Association of Business Brokers "Rookie of the Year" in 2011 and has many years of experience in the industry.

Are you in the market for a BBQ restaurant for sale similar to this one? Click on the link below  to see all existing franchise restaurant for sale locations.  Sellers with existing franchises for sale seeking representation should also reach out at this link for a free valuation of their restaurant. 

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Topics: buying a restaurant, selling a restaurant

Record Transaction Levels Reported in Business Sales - Restaurants Lead the Way!

Posted by Robin Gagnon on Jul 28, 2017 5:01:49 PM

The latest report from BizBuySell shows that the count of business sales continues on pace to set records for restaurants sold and businesses sold this year.  Their data shows 2,534 closed transactions occurred in the first half of the year a 31% increase over the same time last year. Twenty-two percent of those transactions were restaurants.  If that pace continues, 2017 will easily surpass 2016 which was in itself, a record breaking year. 

Once again, restaurants led the way according to this national industry report.  Sales of restaurants experienced major growth in the second quarter.  The national statistics that track these transactions found a 34% increase over last year in number of units and the median sales price jumped from $165,000 to $195,000.  The data also found restaurants being sold were experiencing growth in revenue.  The median sales of those restaurants closing in second quarter was ahead of last year by 7 percent.  That meant year-over-year sales went from an average of $504,500 last year to $540,000 this year.  They also noted a small increase in cash flow of 2% pushing average cash flow on restaurants sold to the $100,000 mark. 

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The reason for the increase in restaurant sales and business opportunities in general can be tracked to market variables the restaurant brokers recently wrote about.  These include unprecedented small business confidence, the amount of quality lending resources in the market, record breaking stock market growth and the use of money that was parked in advance of the election.  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.  For that reason, they are pulling the trigger on what is now the second quarter of phenomenal growth in restaurant sales.

The nation cannot be painted with a broad brush however as selling prices by region vary widely.  The most expensive market in the United States based on selling prices is (no surprise!), the New York metro area.  The list of the top five most expensive markets (in order) were New York, Philadelphia, Denver, Atlanta and Chicago.

All business opportunities for sale are not equal.  The recent report shows a difference in the valuation or cash flow multiple between franchises and independents.  Restaurants and all business opportunities for sale are typically priced at a multiple of their existing cash flow.  The latest data shows that the cash flow multiple for franchises was better than all other transactions.  The average cash flow multiple for franchises was 2.44, compared to 2.34 for all transactions.  Those with a trademark name on the door also reported higher revenues compared to the median of all businesses.  For closed deals, median franchise revenue was $609,966 compared to $490,000 for all businesses. According to the BizBuySell report, "This data suggests that despite royalties, established franchises for sale offer additional revenue and marketing benefits, at sale prices comparable to non-franchises." 

The restaurant broker’s internal results also show an amazing year in the works.  President of We Sell Restaurants Eric Gagnon said of the current trend, “We recently hosted the We Sell Restaurants franchisees and reported on the state of the industry.  Our findings and the BizBuySell report align as we see continued strong growth and a record breaking year in terms of transactions.”

The data from today’s report issued from BizBuySell is compiled in the BizBuySell.com Insight Report issued on a quarterly basis.  The report tracks changes in closed transaction rates, valuation multiples and other economic indicators for the small business transaction market.  The full report can be found online at this link

For restaurant for sale opportunities, click the link below. 

Visit Our Listings Online!

 

Topics: buying a restaurant, selling a restaurant

More Franchise Restaurant Deals Announced

Posted by Robin Gagnon on Jul 26, 2017 4:17:29 PM

The restaurant brokers have compiled the results of buyers who are opening new franchise restaurant locations from multiple sources.  It appears that franchises continue on an upwards trend across the U.S. Check out the latest deals that are making headlines in the franchise restaurant world!

The pizza industry seems as though it cannot ever reach a saturation point.  We're seeing hundreds of new restaurant franchise deals announced including: Franchise Growth Continues.jpg
  • Rapid Fired Pizza is bringing 44 locations to Texas, and up to 175 new locations to Kentucky, Indiana, North Carolina and South Carolina. The build-your-own pizza concept launched in Kettering, Ohio in 2015 and has 15 locations with another 13 currently under construction.
  • AR Pizza LLC is expanding Dallas-based Pie Five Pizza Co. in New York and New Jersey. AR Pizza also owns 47 Popeye's locations and eight Arby's restaurants. Pie Five is a subsidiary of RAVE Restaurant Group, Inc., which owns, franchises and supplies more than 300 Pie Five and Pizza Inn restaurants domestically and internationally.
  • Pieology franchisee group Kingdom Pies LLC is adding to their Florida locations with a new store in Jacksonville Beach, Florida. Pieology also has locations in Arkansas.
Franchisees are biting into the burger and sandwich market with recent acquisitions including:
  • Potbelly Sandwich Shop added another agreement with the Chicago, Illinois-based company to bring five more shops to the Richmond and Charlottesville areas. Potbelly operates more than 400 locations in the United States, while franchisees operate 35-plus shops across the country and abroad.
  • The largest restaurant franchisee in the U.S.,  Flynn Restaurant Group, acquired another 34 Panera Bakery-Cafe locations. This is the latest acquisition to add to their roster that includes 477 Applebee's and 274 Taco Bells. Flynn expects to build another four Paneras within the next year, and to continue building about 10 Taco Bell restaurants per year.
  • Seth Goldstein, Alvin Goldstein, Mitch Cohen and Marvin Goldfarb opened a Jersey Mike's in Long Island, the first of five to be developed by the franchise owners. The team has industry experience as former multi-unit Dunkin' Donuts and Baskin-Robbins franchisees, and Cohen and Seth Goldstein were recognized by the International Franchise Association as Franchisee of the Year in 2009, and served in multiple leadership roles for both the IFA and Dunkin' Brands.
  • There are 50 new locations signed for the development of Hwy 55 Burgers, Shakes and Fries in Illinois over the next 10 years. . Hwy 55 has 137 locations in 12 states and Denmark and the United Arab Emirates.
  • BurgerFi, a Florida-based better burger concept, signed development deals with four multi-unit franchisee groups to continue expanding in the Southeast and Northwest. BullaFi LLC will build three new restaurants in the Raleigh, North Carolina area; QSR by RAM LLC will open two restaurants in Alabama and Georgia; H&F Investors LLC will develop four restaurants in Oregon and Washington; and AZ Hospitality LLC will develop two restaurants in Kansas

There are also several significant deals being announced in the fast food chicken franchise marketplace:

  • With its most recent acquisition, GPS Hospitality is adding 11 Popeyes Louisiana Kitchen restaurants in its home state of Georgia to its growing franchise portfolio, increasing its total number of Popeyes restaurants in Georgia and West Virginia to 19.
  • Dallas, Texas-based fast-casual chain Cowboy Chicken and Franchise Restaurant Concepts Group announced the signing of three lease agreements to open restaurants in Ankeny, Iowa, Manhattan, Kansas, and Sioux Falls, South Dakota. The units are part of a franchise agreement signed earlier this year with FRC Group to open 14 Cowboy Chicken locations across these three states.

  • As part of an eight-unit development agreement, franchisee Chris Wilson opened his third Slim Chickens restaurant in Lubbock, Texas, last month. A Southern fast-casual concept with a menu of grilled chicken tenders, wings and dipping sauces, Slim Chickens, based in Fayetteville, Arkansas, has more than 50 locations in 11 states.
Other significant acquisitions include:
  • Price Chopper and Dunkin' Donuts have struck up a deal to open Dunkin' stores inside three Kansas locations. This deal comes as Dunkin' continues to put forth efforts to expand throughout the grocery sector. Dunkin' currently has 200 restaurants within supermarkets, big-box retail stores, wholesale clubs and home improvement stores throughout the U.S. Dunkin's future goals include having more than 750 alternative points of distribution including locations in hotels, colleges, mass transit stations, entertainment centers, and military bases.
  • Middle Eastern fast-casual restaurant Mamoun's Falafel is developing six locations in Georgia including the Atlanta and Athens markets. Mamoun's currently has locations in New York City, New Jersey and Connecticut.
  • Pokeatery, a two-location San Francisco-based build-your-own poke restaurant signed its first franchising deal. Northern California will soon see three new locations.
  • Big Whiskey's American Restaurant & Bar will debut its first franchise location in Las Vegas early next year, followed by a location in Henderson and continuing throughout Clark County. Currently, Big Whiskey has five company-owned locations in Missouri and two franchised restaurants in Bentonville, Arkansas and Kansas City.
  • Slapfish, a fast-casual seafood chain will open two franchise locations in Albuquerque, New Mexico, with the first location currently under construction at the Holly Center with a target opening date of September. Slapfish has eight unites open and more than 100 in development both domestically and internationally.
  • Yogurtland has signed a deal with Charlie Yang and Allan Yang to develop eight locations in Dallas beginning in late 2017 throughout 2018. The Yangs currently have seven Yogurtland stores in Texas, California and Arizona.
  • Arooga's Grille House and Sports Bar made its New Jersey debut with the first of at least four locations opening in Union and Somerset counties. The first location for franchisee Toson Food and Beverage is in North Plain. Arooga's, a full-service casual restaurant and sports bar, has 10 corporate locations in Central Pennsylvania and four open franchise restaurants, with other in development in New York, Florida and Massachusetts.
  • Husband-and-wife duo Jonathan and Grace Darko signed on with Dickey's Barbecue Pit to open two locations in the fast-casual chain's hometown area of Dallas, Texas. The first restaurant is scheduled to open in Grapevine in January 2018, with a Frisco location to follow.

We continue to hear of tight margins and softening sales in the soft casual sector however the announcement of all these locations shows the appetite to develop new franchise restaurant stores and expand among existing concepts is still thriving.  Want to see our franchise restaurants for sale?  Visit the link below. 

 

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Topics: buying a restaurant, selling a restaurant

Report Shows Industry Sales Improving Slightly -- Restaurant Brokers Weigh In

Posted by Robin Gagnon on Jul 21, 2017 12:41:11 PM

Recent headlines about the restaurant industry, in particular the fast casual segment, have not been pretty.  In all, national results have unfortunately, been in a slump for the past six quarters.  June finally saw a turnaround according to the latest report from TDn2K's Restaurant Industry Snapshot.  

The Restaurant Industry Snapshot report show that  June's sales and traffic growth were the best monthly performance since January, and the second quarter of 2017 posted the best results since the second quarter of 2016.  What's causing the change?  For one thing, we're beginning to anniversary a prior year bad performance.  That means we're posting better numbers against a weak 2016.  In the restaurant broker’s opinion, we’re also seeing operators confront lagging sales and lower traffic counts and work to improve both. 

Crowd final.jpgOwners and operators are working hard to both improve traffic and raise sales by focusing on getting outside the four walls of the restaurant.  Many more stores are opting for multiple delivery options. They aren’t delivering their own food any longer and they now use multiple services to get more meals out the door.  Their opinion is that if the business won't come to them, they will make sure the food can get to the homes.  The restaurant brokers are also seeing a stronger push for catering, another way to get sales ringing on the POS system.  

We are also seeing a large increase in the use of promotional efforts ranging from charitable tie-ins, social media contests, limited time offers, couponing and more.  Is it working?  When traffic grows, we'll say for sure this is working.  According to the latest report, traffic declined by 3.1 percent in the second quarter, a 0.6 percent improvement from the first quarter. Overall, same-store sales fell 1 percent in June and in Q2 2017, compared to a first-quarter same-store sales drop of 1.6 percent. 

The fact that average guest checks grew 2.2 percent increase over last year also signals an attention to training and detail in house.  We are not seeing wholesale price increases so up selling the menu and putting higher prices on specials is paying off as guest checks creep up.  According to the report, check averages have been growing slowly since 2015, when average checks rose by 2.8 percent.

Overall, in keeping with many of the articles we’ve been reading, fast casual was the weakest-performing segment in the second quarter.  There is definitely an overpopulation of this style dining and we see even more thinning of concepts and chains still shedding units over the next 24 – 36 months.

On an interesting note, fine dining and upscale casual were the two segments with positive sales in the second quarter, and have been the best performing segments this year.  Does that mean the customer is ready to go back to full service?  It may only signify they are having fast casual delivered through one of the concepts like UberEats or Zifty and when they choose to dine out, they want a full service experience.

Overall, the quality of the experience at the store level will commit the customer to the concept and keep them coming back.  There is significant competition for the food dollar but the consumer share of dollar eaten out of the house has been rising for years and that trend shows no sign of slowing down.  Operators may need to be more creative in order to keep market share in a crowded field.

Visit Our Listings Online!

Topics: buying a restaurant, selling a restaurant

Do Pro Athlete's Make Good Restaurant Owners?

Posted by Robin Gagnon on Jul 17, 2017 12:12:58 PM

It seems you can’t read an issue of Franchise Times without learning of an athlete who’s invested in the franchise restaurant industry.  The restaurant brokers have interviewed and spoken with many former national level athletes on the way to restaurant ownership.  Here’s what we learned about the parallels and pitfalls of entering the restaurant business as you head out of the professional sports arena.

What are the advantages of playing professional ball and then coming into the industry? How about money?  Professional athletes have an advantage because they bring a lot of money to the table.  What else do they bring? Let's look at the skill set from someone who’s played competitive ball.  First, they have resilience and drive.  You don’t make it to the big leagues without a refusal to fail.  How many restaurant owners will blame the economy, blame the government, blame minimum wage, blame everything but themselves instead of buckling in and having that drive and refusal to fail. 

Here’s another skill kept sharp by those in the major leagues. The ability to learn and adapt.  That’s a skill everyone needs no matter what part of your life you are in professionally or personally.  That’s especially true for restaurant owners who five years ago had a busboy taking deliveries and no social media accounts versus today’s world where you’re fighting for market share with delivery companies and your stock rises or falls with your Yelp ratings. Pro final.jpg

Another skill needed by those leaving the professional league to become restaurant owners is the ability to reinvent themselves.   The restaurant business is fluid and changing.  There are those that peg the NFL as the “Not for Long” league.  Athletes know their body is only going to last for a short period of time.  They are looking for that next investment and know they may have to reinvent themselves within 24 to 36 months.

Another reason a professional athlete’s skill’s transfer to the franchise side of the restaurant business is because they know how to run the plays.  There are plenty of parallels to the franchise restaurant industry where someone else has already put a game plan together.  They learn how to execute it at the very highest level. They practice it, they commit to it and then they do it over and over again.

And oftentimes people will feel a little bit constricted by franchise but on the other hand that kind of operational side of things can be your safety net. And the reality is some folks are just not ready to go it alone. For a professional athlete used to executing against a playbook, a restaurant franchise may be just the thing.  Buying into a franchise gives you the safety net the process.  You get great training, training, the rule book and playbook for every single element of the operation.

For many athletes, they know their name will fade away at some point. We had one athlete tell us, "You can't rely on the roar of the crowd.”  And That's true whether you operate one restaurant, 15 franchises, or many more.

Do professional athletes make good restaurant owners?  They absolutely can if they have the skills we just outlined.

Are you a professional athlete looking for franchise restaurants to buy?  Check out our inventory at this link online. 

 

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Certified Restaurant Brokers Steve and Cyndi Weinbaum On the Radio

Posted by Robin Gagnon on Jul 13, 2017 11:19:23 AM

What happens when a radio show is seeking experts on the culinary scene in Atlanta?  They reach out to the restaurant brokers! Steve and Cyndi Weinbaum of We Sell Restaurants were recent guests of Business RadioX along with Seth Gragg of Thrasher Coffee Company and Paul McKeon, CEO of Team Building with Taste, a hospitality company he co-founded in 2012.

The players assembled on the air on June 29 and shared their insight and expertise in the culinary world.  Each of the guests, including husband and wife Restaurant Broker Team - Steve and Cyndi Weinbaum, along with McKeon and Gregg offered their take on the current business climate and their opinion on future trends.  Will the pace of fast casual continue to dominate the industry or is there a return to full service?  Will space (currently at a premium in Atlanta) ever be available for the best locations (no!)? 

The full radio interview can be downloaded live at this link.  

The group, pictured below included Paul McKeon, the CEO of Team Building with Taste, a hospitality company he co-founded in 2012. McKeon and his team have merged their love of food with their business experience building and running high performance sales and marketing teams. With custom team building kitchens in Atlanta and Dallas, Team Building with Taste has become the preeminent culinary team building program in the U.S. To learn more about Team Building with Taste, you can visit their website. You can also follow them on LinkedIn, Twitter and Facebook.

Seth Greg parlayed his love of coffee into his role as VP of Business Development with Thrasher Coffee Company where he uses an extensive background in sales and operational management. Seth has been instrumental in the growth of Thrasher Coffee Company.  The firm specializes in roasting responsibly-harvested beans and supplying premium, fresh, small-batch coffee.  Their discerning customers are seeking the experience at an affordable price and the firm says they, "offer one-of-a-kind roasts backed by an unparalleled commitment to quality and service."

Steve and Cyndi Weinbaum are a husband and wife team who put customer committment first in representing buyers and sellers for restaurants in the We Sell Restaurants database. 

 

CulinaryAtlanta2017.06.16-768x432.jpgSteve is a licensed real estate salesperson and Certified Business Broker. He has over 25 years of experience working with retail, dining, and financial industry leaders with a focus on Marketing, Business Analysis, and Relationship Management. The importance of establishing open and honest rapport with all his clients is, and will continue to be, paramount.

Steve has the ability to quickly and accurately review and evaluate financial data. This skill enables him to provide sound valuation feedback and business guidance. He has years of experience negotiating complex business to business contracts. Steve worked with most of the major Casual Dining and Quick Serve Franchise brands to help grow 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.

Cyndi is a licensed Real Estate Agent who has been representing Buyers and Sellers for over a decade. And while her experience has been primarily in the residential market, both resells and new construction, her ability to negotiate complex contracts and perform valuation analysis also serves the commercial real estate and business community.

She is a certified negotiation specialist and has attended many workshops and seminars on sales and marketing and is a lifetime member of the Million Dollar Club. She has also received instruction and testing leading to designation as a Certified Restaurant Broker.

Cyndi sharpened her negotiating and business analysis skills as a buyer for Macy’s where she collaborated on multifaceted deals in order to maximize return and further developing her ability to quickly and accurately review financial data to evaluate value and drive sales.

As a Restaurant Broker, Cyndi is now working with restaurant owners to accurately value, market and sell their restaurants for maximum value. She is also helping buyers identify the right business opportunity based on their financial goals and objectives. You can follow them both on LinkedIn, Twitter and Facebook.

Click to download the full 50 minute video at this link to hear the entire interview. 

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Topics: buying a restaurant, selling a restaurant

Restaurant Franchise Sales Growing -- New Deals Announced!

Posted by Robin Gagnon on Jun 26, 2017 12:34:16 PM

The Restaurant Brokers have scoured the internet, press announcements, twitter feeds, Franchise Times and more to bring you the latest deals we've seen for franchise sales and development units.  Here's what we've found.

Church’s Chicken®  has entered into a multi-year development deal with Goalz Restaurant Group, LLC to develop 20 Church’s Chicken restaurants per year in six states. The agreement, which will affect expansion in Florida, Kentucky, Ohio, Colorado, North Carolina and South Carolina, is the largest ever with a single operator.  That's a lot of brand new franchise units in those markets and very exciting news. 

The Carolinas look to be a hotbed of recent restaurant franchise sales development.  Here's a few of the many deals announced for the state. 

Area developer Steve Alie opened his first location of Cottage Inn Pizza-and the brand's first location in Greensboro, North Carolina earlier this month.  He plans open up to five additional locations in the state within the next four years. He's also planning to sell the rights to 15 more stores to qualified franchisees throughout the Carolinas over the next decade.  

In other North Carolina development, Famous Toastery's first two franchisees have signed on for additional locations of the North Carolina-based breakfast and lunch restaurant. Jason and Michelle Serkin have committed to a total of five locations in the York County, South Carolina area, while Dean Kessel will open 10 locations across Cary, Raleigh, Asheville and Greensboro, North Carolina. Additionally, Keith and Dawn Martin agreed to open three units in Jacksonville, Florida, and David Glista will bring two locations to Colorado.  

Franchise Growth.jpgFirst Watch finalized agreements with several operators to grow their concept in North and South Carolina, Georgia, Louisiana, Mississippi, Missouri and Arkansas in more growth for the Carolinas.  

Hwy 55 Burgers, Shakes & Fries, a North Carolina-based company opened its third location in Georgia this month.  Master franchisees John Greene and Craig Smith of Southern Kitchens Restaurant Group led this charge.  Their newest restaurant is in Waycross. Greene and Smith also have Hwy 55 locations in South Carolina.

Moving from North Carolina to the Northeast, a brand new incentive program has sparked some new development of multi-unit deals for Firehouse Subs'  in the Northeast.  The brand has commited to cut franchise fees by 50 percent for any market in the Northeast, from the greater Philadelphia and New York City areas to Rhode Island and Massachusetts.  That led to a deal by Ilker Dinc and Mark Farrell to develop five restaurants each in New Jersey, and Syed Alam to agree to open three units in New York.   In addition to those deals in the northern part of the country, we also learned that Jessica Christen is on board to develop four restaurants in New Orleans along with Quinton Pruitt, who plans to open three locations in Oklahoma, and Michael Lavee, the brand's newest Canadian multi-unit franchisee, who has agreed to open two restaurants in Ontario

In other news, locations are spreading one state at a time.  Wayback Burgers  has announced that their international master franchisee has opened his first U.S. location of the better burger restaurant in Woodland, Washington, this spring.

Colorado is getting ready for a massive sugar fix!  Shipley Do-Nuts is planning to open 58 franchised units in the state, starting with Colorado in a huge deal announced last month.

Potbelly Sandwich Shop is coming to California. The Chicago, Illinois-based company signed an agreement with Sameer Bhatia to bring four shops to South Orange County over three years, marking Potbelly's entry into the Golden State.  His first location is expected to be open within a year near the towns of Irvine, Newport Beach, Laguna Beach, Walnut or Lake Forest. 

NPC announced that it has acquired 140 Wendy’s restaurants, previously operated by DavCo Restaurants, LLC, from a subsidiary of The Wendy’s Company. As part of the transaction, NPC has agreed to remodel 90 acquired restaurants in the Image Activation format by the end of 2021 and build 15 new Wendy’s restaurants by the end of 2022.

Sacramento, CA  Sacramento is about to get its first taste of Bennigan’s, the iconic brand beloved across the globe for its friendly Irish hospitality and chef-driven American fare.

Nashville, TN  Captain D’s, the leading fast casual seafood restaurant, announced its newest location in Zachary, Louisiana is officially open. Located at 5353 Main Street, the restaurant is 2,800 square feet, with drive-thru, and showcases the brand’s most recent beach design. The new restaurant has created 20-25 jobs in the Zachary community.

Bojangles' as the Southern-style restaurant franchisor announced a multi-unit development agreement with new franchisee MSR Restaurants, LLC of Mitchellville, Maryland. The deal will bring several new Bojangles' to the Washington, D.C. metro areq.

The Hurricane Grill & Wings concept in Kansas, is part of a 12-site development agreement. The first, a Hurricane Sports Grill full-service restaurant, is set to open in Wichita. Other versions of the Florida-based chain are the standard Hurricane Grill & Wings, and Hurricane BTW (burgers, tacos and wings), a smaller fast-casual concept.

Dat Dog, a New Orleans gourmet hot dog and sausage franchise with four corporate units, signed a multi-unit deal for the Houston, Texas market. The agreement with B&G Food Enterprises will bring 25 Dat Dog restaurants to the metro area over the next several years.

New York-based Carrols Restaurant Group is adding 17 Burger King locations in Maryland to its portfolio by acquiring Republic Foods. The deal will offer "a strategic entry point for us to further expand our presence in the mid-Atlantic region going forward," said Carrols CEO Daniel Accordino

Cowboy Chicken and Franchise Restaurant Concepts Group (FRC Group) announce today the signing of three new lease agreements to open restaurants in Ankeny, Iowa (802 SE Oralabor Road), Manhattan, Kansas (322 Southwind Road) and Sioux Falls, South Dakota (2700 W. 41st Street). These three restaurants are part of a franchise agreement signed earlier this year with FRC Group to open 14 Cowboy Chicken locations across Iowa, Kansas and South Dakota. There are currently 21 units of the fast casual chain in Texas, Oklahoma, Nebraska, Louisiana and Alabama.

Across the Border,  Wing Zone® has signed a major expansion deal to increase its international presence. The agreement, signed with The Philippines-based Viva International Food & Restaurants, Inc. and facilitated through JNM Dining Concepts, Wing Zone’s South Asia Master Franchise, based in Singapore, will result in the building of up to 50 new Wing Zone units across The Philippines over the next 10 years.

The growth of restaurant franchise sales and development signals a healthy industry that shows no signs of slowing down!  For franchise resale locations - open and operating franchises for sale, check out listings offered by the restaurant brokers at the link below. 

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Topics: buying a restaurant, selling a restaurant

A Day in the Life of a Restaurant Broker...What are they doing anyway?

Posted by Robin Gagnon on Jun 15, 2017 9:35:04 AM

50032-Dominique_2011_cropped_for_website_1.jpgHave you ever wondered what your restaurant broker is actually doing every day? Here's a day in the life of Restaurant Broker Dominique Maddox who shared these thoughts.

Dominique recently had a conversation with his wife telling her how mentally tired he was after a tough day as a Certified Restaurant Broker when she returned from work. His wife said, “You sit in front of your computer all day, what did you actually do today?" Here's his log of his actions for the day he was kind enough to share.  

5:00 am – Wake up and put on the 1st pot of coffee. Review my business to-do list for the day and add items

5:30 am-  Go to the gym and go beast mode to get ready for the day

7:30 am – On the road to take pictures of a restaurant I recently listed for sale. I must arrive before the back of the house staff arrives so they will not be suspicious.

8:45 am- After battling through the high-dense Atlanta traffic, I make it to my destination 42 miles from my home.

9:15 am- Pictures are finished and I must conduct a conference call between a buyer and seller to discuss expenses on last year’s profit and loss statement while sitting in my car. 

9:40 am-  While still sitting in my car, I get a call from a seller he is not happy. The seller does not want to sign the 4506-T form which allows the bank to request the sellers tax returns for a buyer to get an SBA Loan based on the business financials. The seller discloses to me they need to amend their tax returns because they filed inaccurate numbers.

9:50 am – Receive call from leasing representative the landlord will not offer my client more Tenant Improvement Money to move forward with the lease. The landlord will only offer 2 free months of rent instead of 3 months.

11:00 am – Arrive back at home office to respond back to missed emails and calls.

11:25 am – Review my HOT Report and touch all my pending deals with updates or reminders

11:45 am – Receive call from a financially qualified candidate. Buyer needs help understanding the price valuation of the restaurant. Buyer does not understand the definition of add-backs for a price valuation.

12:00 pm- Receive email from buyer that request to see a lease space I’m advertising. I call the buyer and they don’t want to show proof of funds, business plan, or menu. They just want to see the location first and then decide if they want to move forward. Let them know landlord wants to see those documents to qualify them as a tenant before showing tghe space.

12:45 pm- Receive an email from a buyer in South Carolina, they want to make an offer on a Franchise Restaurant I have listed in South Carolina. The buyer requests a copy of our Asset Purchase Agreement. I draft the Agreement and send for review.

1:30 pm – Follow up with Dickey’s BBQ Pit to confirm buyer’s Discovery Day date to attend at Dickey’s Headquarters.

2:00 pm – Conference call with Wich Wich, buyer, seller, and Area Representative to discuss transfer checklist

2:30 pm-  Schedule a meeting between buyer and seller at restaurant for Friday

2:45pm- Follow up with Firehouse Subs Area Representative to discuss training day for approved candidate.

3:00 pm – Review an 80-page lease to find out the lease expiration, option renewals, security deposit, CAM charges, and type of restaurants allowed in the shopping center

3:30pm- Follow up with closing attorney on debits and credits for Closing Settlement Statement.

3:45pm- Receive a referral for a Firehouse Subs seller who wants to sell from my current client

4:00pm – Assist buyer with working on bank projections for loan approval. Review business plan and give feedback for improvement.

4:45pm- Follow up with listing leads and search for more leads

5:30pm- Work on Science Project with my 5th grade daughter Amaya

7:00 pm- Draft emails to send out in the morning

7:30 pm- My wife arrives at home!

7:45 pm- Receive text message from seller, asking for an update on buyer activity for their listing.

Dominique writes, "To be an excellent Restaurant Broker you must multi-task and be the quarterback of the deal. Nobody wants to get the deal done more than the Broker.  It can be the difference between feeding your family ground beef or filet mignon.  Yes, most days I’m drained from my daily activities and I’m constantly thinking about items that need to be complete on each deal at night. The satisfaction I get from this career is knowing I help people realize the American Dream of Business Ownership. Tomorrow I will get up and do it all again."

 

Domminique Maddox is a licensed Georgia real estate agent and graduate of Morehouse College which he attended on a football scholarship.  He brings that same competitive spirit and energy to the field of restaurant brokerage. Dominique received a Bachelor of Business Administration in Business Management from Morehouse College.  He has worked in mortgage financing, real estate, business to business sales, and Restaurant Brokerage Sales.

Dominique was named the recipient of the Georgia Association of Business Broker "Rookie of the Year" award from the organization for 2011.Dominique was also elected as a Director to the Georgia Association of Business Brokers for 2012. Dominique has undergone extensive training for restaurant brokerage and has earned the designation as a Certified Restaurant Broker. View his listings online at this link.

 

 

Topics: buying a restaurant, buying a restaurant, selling a restaurant