Advice for Buying a Restaurant and Selling a Restaurant

Skip Cooking This Thanksgiving - The Restaurant Brokers Share Restaurant Chains Open for the Holiday!

Posted by Robin Gagnon on Nov 22, 2017 10:00:00 AM

Our friends at Restaurant News did it again!  Here's the list of the restaurant chains open for Thanksgiving this year.  Making a home-cooked meal for Thanksgiving is how some families spend the day but a surprising number of people prefer to skip the preparation, cleanup, and house full of relatives.  Instead, they opt for a chef who works their magic and a server team to handle the legwork!  An added benefit to dining out, you can avoid all those pesky leftovers and seconds that are bound to sabotage your diet plans when a restaurants whisks in a meal and then clears it away in the same sitting. 

The Restaurant Brokers have been on both sides of the fence.  We've been the recipients of a fabulous home cooked meal, we've been the ones cooking the turkey and we've dine out.  What's the best experience?  It depends on your own unique situation.  More and more families are gathering together but opting for dining out.  We can't blame those who want to leave the cooking to specialists.  Especially not after reviewing this list of fantastic chain restaurants who are staying open to make your Thanksgiving meal an unforgettable one!

Relax and enjoy dinner out this Thanksgiving.These chains are open for the holiday!.png

According the research performed by the National Restaurant Association, this year nine percent of American’s will be eating their Thanksgiving dinner at a dining establishment instead of in the comfort of their own or someone else’s home. That’s a three percent increase from 2011.

If you’re one of the millions of American’s who are eating their Thanksgiving dinner out this year, check out the following list of chains who are staying open to roast your bird, bake your ham, and plate up your mashed potatoes and gravy so that you can be thankful you don’t have to lift a finger – except to pick up your fork and knife!.

Applebee’s – Not all Applebee’s restaurants will be open for Thanksgiving, but there will be many in select markets that are. Those that are staying open for the holiday will serve turkey, green beans, and mashed potatoes with gravy. Call your local Applebee’s to find out if they will be participating!

Boston Market – For $12.99 a person you can enjoy turkey breast or half of a chicken along with two side dishes, a roll and a slice of pie! For $34.99 enjoy the same items for three people!

Country Buffet – Country Buffet is where you go to get a meal just like what grandma made, and Thanksgiving dinner is no exception. From 11am-6pm guests can dine on numerous meats from the carving station, potatoes, juicy corn, and a selection of Thanksgiving pies.

Cracker Barrel Old Country Store – head to Cracker Barrel for a turkey dinner complete with a small portion of sugar-cured ham, delicious sweet potato casserole, your choice of a side and beverage for just $12.99 per adult and $7.99 per child.

Denny’s – Head into your favorite Denny’s for carved turkey breast, stuffing and even cranberry sauce.

Houlihan’sWhat an interesting concept this bar and restaurant chain has come up with this year – ‘Drinksgiving!’ After you finish meal with the family, head over to Houlihan’s and indulge in $2 beers, $3 wines, and $5 pitchers of Long Islands!

McCormick & Schmick’s Seafood & Steaks – For an upscale dining experience this Thanksgiving, head to McCormick & Schmick’s Seafood & Steaks for turkey dinner including butternut squash soup, cornbread stuffing, and apple squash casserole. This chain will also be featuring its regular menu all day long for anyone not wishing to have the traditional Thanksgiving turkey!

Romano’s Macaroni Grill – For $24.99 per person you can indulge in a three-course dinner including roast turkey, mashed potatoes, carrots with bacon, apple sausage stuffing and pumpkin pie.

Ruth’s Chris Steak House– Another upscale dining option for Thanksgiving is the famous Ruth’s Chris Steak House. The price is a bit steep, but it is well worth it! For $39.95 per adult and $12.95 per child, guests will enjoy gumbo or a house salad as a starter, and tender turkey with house-made gravy, stuffing, and more!

Ryan’s – If you’re looking for good old fashioned pecan pie this Thanksgiving, you’ll want to get to Ryan’s. Sure, you can get the traditional turkey dinner, but you can also get friend chicken, steak, shrimp, and meatloaf! Southern-inspired side dishes include collard greens, green beans and corn.

Shari’s – Head on into Shari’s for turkey or ham dinner for just $14.99. If you’d rather have something from the daily menu, all entrees are $5 off from 10:00PM Thanksgiving night until 10:00am Black Friday! Shari’s has 94 locations in the United States. For dessert, Shari’s is serving up its award-winning pumpkin pie!

Sizzler’s – From 11am through 10pm on Thanksgiving, guests will be treated to stuffed roasted turkey, potatoes, cranberry sauce and pumpkin pie. The price will vary at each location, so call ahead to the Sizzler’s closest to you for pricing and reservations!

The Dixie Cafe – Head on over to the Dixie Café for a traditional turkey for just $10.99 per person from 11am-5pm.

Waffle House – While they don’t have a special Thanksgiving menu, they will be open serving all of their signature items to the masses!

With all of these delicious options to choose from, we wouldn’t be surprised if some of us have a home-cooked meal for lunch, and head out for a second serving for dinner! Wherever you choose to dine this Thanksgiving, We Sell Restaurants wishes you a happy and healthy holiday with your friends and family. Enjoy!

Topics: Restaurant Brokers

We Sell Restaurants Aids those in Need at Atlanta Community Food Bank

Posted by Robin Gagnon on Nov 8, 2017 11:00:00 AM

Restaurant Brokers Eric and Robin Gagnon led their team and a volunteer group at the Atlanta Community Food Bank on Nov. 4 from 1 to 4 p.m. They were joined by others in the franchise community including representatives from Shane’s Rib Shack, Any Lab Test Now, Adfinitely and Loud & Clear PR. The initiative was part of the Women's Franchise Network effort to support Franchising Gives Back nationwide.

The We Sell Restaurants team and additional volunteers helped the non-profit organization inspect, sort and package nearly 15,000 pounds of food which in the words of the Food Bank representative, is, "enough to fill five Mini-Coopers." Their efforts will provide meals for more than 8,533 Georgians in need.

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In addition, We Sell Restaurants donated $1,500 to the Atlanta Community Food Bank as a matching gift for reaching a goal of 15 or more volunteers for the day. The funds were from the charitable trust foundation established by the Gagnons and We Sell Restaurants that will distribute more than $21,000 annually for the next ten years.

“We were thrilled to have our team members, their family, friends and those in franchising, spend their Saturday afternoon helping out our community. As we head into the holiday season, we are always mindful of those in need. The funds we provided will serve more than 6,000 meals," said Robin Gagnon, Co-Founder of We Sell Restaurants.

Eric Gagnon, President of We Sell Restaurants said, "We established our charitable trust in 2016 as a way to pay back the many blessings we've been provided. We are actively looking for charitable initiatives that can benefit from our time and funds and have made a matching donation program available to our franchisees and team members."

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The Atlanta Community Food Bank works with more than 600 nonprofit partners—including food pantries, community kitchens, childcare centers, night shelters and senior centers—to distribute over 60 million meals to more than 755,000 people in 29 counties across metro Atlanta and north Georgia.

The Atlanta Restaurant Brokers for We Sell Restaurants  turned out including Steve and Cyndi Weinbaum, along with their daughter.  Dominique Maddox also included his dauther in a day of giving back.  

We Sell Restaurants

We Sell Restaurants is the nation's largest restaurant brokerage firm, representing buyers and sellers in the sale of the restaurant businesses. The firm operates in 42 states across the country. We Sell Restaurants is franchising their concept nationwide.

Topics: Restaurant Brokers

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: Restaurant Brokers

Pizza Restaurant for Sale, Mancini’s Pizza SOLD in Huntington, West Virginia

Posted by Robin Gagnon on Sep 28, 2017 10:17:00 AM

Kudos to Restaurant Broker Steve Weinbaum on closing the deal on the pizza restaurant for sale, Mancini’s Pizza!

Mancini’s Pizza operated in Huntington for over 16 years under the same owner, until the pizza restaurant for sale was sold on August 16, 2017 by Restaurant Broker Steve Weinbaum. Mancini’s was a favorite spot for hungry Cabell Count9017-Steve W jacket.jpgy customers, with a full menu featuring sandwiches, salads, and piping hot pies. Customers enjoyed washing down their meal with an ice cold drink from the full bar that featured many drink specials.

John Castlegrande brought his best offer and purchased the pizza restaurant for sale in Huntington. Huntington is the second largest city in the state of West Virginia with a population of almost 50,000. It is home to Marshall University, a public college with a 100 acre campus and almost 14,000 students.  The business sits directly across the street from the college and has views of the stadium. Castlegrande will no doubt be serving hungry students and sports spectators alike!

Tony Mancini, the previous owner, cranked out delicious food for the past 16 years before listing this pizza restaurant for sale with Restaurant Broker Steve Weinbaum. When the pizza restaurant for sale was still operating as Mancini’s prior to the sale, satisfied customers left an abundance of online reviews praising the food and service quality. Some noteworthy reviews include:

  • “Best pizza place in Huntington. Awesome atmosphere, great service, and delicious food.”
  • “We probably spent as much, but got three times the amount of food at any other place. The older rustic pub vibe and the great food make it a place I’d definitely return to!”
  • “Went before a Marshall game and not too crowded and our server was great! Highly recommended!”
  • “This place is a staple. Tony is a stand-up guy that will work with local causes to provide pizza and at a discount no less.

Castlegrande has closed the Mancini’s business and is bringing a new concept to the space. With the numerous positive online reviews, Huntington residents are no doubt anticipating the reopening of the recently sold pizza shop for sale. Castlegrande is looking forward to serving the Marshall University students, their families, visitors and residents.

Restaurant Broker Steve Weinbaum had this to say of the pizza restaurant for sale deal that he closed: “With this prime location near Marshall University, the new owner will reopen and cater to sports fans ready for another exciting season of college sports. This buyer knew a good deal when he saw it and didn’t hesitate on making a great offer on this business.”

Are you in the market for pizza restaurants for sale such as this one? Click on the link to be taken to our pizza restaurants 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: Restaurant Brokers

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: Restaurant Brokers

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: Restaurant Brokers

Restaurant Brokers Designated as Industry Experts by Business Brokerage Press

Posted by Robin Gagnon on May 29, 2017 5:07:55 PM

Restaurant Brokers Eric and Robin Gagnon have been designated by Business Brokerage Press as Industry Experts yet again for 2017.  The Industry Expert program is recognized across the nation for brokers that have in-depth knowledge of a particular type of business.  It's based on a questionnaire distributed by the group that demonstrates specialized skill in an industry and transaction experience.  . 

Industry_Expert_Logo.jpgEric and Robin Gagnon will be included in the Industry Expert section of the Business Reference Guide published by Business Brokerage Press or BBP.  Experts in this program must qualify through demonstration of in-depth knowledge for a particular type of business.  Only those qualified and approved by BBP may be listed as a source with expert knowledge in their prospective industry. 

The Restaurant Brokers, Eric and Robin Gagnon, have both qualified for this honor for multiple years in both Restaurant Sales and Franchise Resales.  The dynamic duo and husband and wife team are the founders of We Sell Restaurants, the nation's largest restaurant brokerage practice and franchise brand.  

ERIC GAGNON is the founder and President of We Sell Restaurants and wesellrestaurants.com.  He is the nation’s leading restaurant broker.  Eric is an industry expert in restaurant sales and valuation.  He is a frequent speaker, writer and co-hosted the nation's only radio show devoted to the restaurant industry for several years.  Eric is co-author of Appetite for Acquisition, an award winning book on restaurant brokerage published in 2012 and named "Best of" by Small Business Book Awards.  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.  Eric is member of the International Franchise Association, the Georgia Association of Business Brokers and the Business Brokers of Florida.  In addition, he serves on the Executive Board for the Southeast Franchise Forum and the Membership Committee of the International Business Brokers Association.  

ROBIN GAGNON is the Co-Founder of We Sell Restaurants and the firm's Chief Marketing Officer.  Robin is one of the most prolific restaurant brokers in the industry and is a franchise resale specialist.  She is also a writer and speaker that has addressed the International Business Broker Association, International Franchise Association, Sysco Food Show and multiple colleges and universities. Robin's expert articles appear online and in print across the country. She co-authored Appetite for Acquisition, an award winning book on buying restaurants that was published in 2012 and named "Best of 2012" by Small Business Book Awards. She is the co-host of the long-running radio show "We Sell Restaurants."  Robin is a member of the International Franchise Association and serves on the Women's Franchise Committee.  She is also the Chair of the Women's Franchise Network - Atlanta Chapter.  

These veteran industry experts have defined the term “Restaurant Brokers” with their unmatched experience, knowledge and count of restaurants sold.  Impactful speakers, they have presented workshops and served on multiple panels for organizations nationwide where they share their expertise. They created and developed training for brokers to obtain the credential of Certified Restaurant Broker.

The two have trademarked their brand, “We Sell Restaurants” and are franchising nationwide. They share their knowledge through one of the most extensive training programs available to the industry. Their multi-platform training program leads to the nation’s only Certified Restaurant Broker designation.

For nearly 34 years, Business Brokerage Press has worked to benefit business brokers through valuable publications, services and resources specific to the business brokerage profession.  In addition to their Industry Expert program, they publish source books for the industry including The Complete Guide to Business Brokerage; and the Business Reference Guide, first published in 1991.

The Business Brokerage Press legacy extends to the International Business Brokers Association (IBBA) as the founders were instrumental in launching this international organization.  For over 10 years, Tom and Barbara West of Business Brokerage Press had a hand in running the Association until they turned it over to a management association company so they could focus their time and attention full time on BBP.

For more information about We Sell Restaurants, visit wesellrestaurants.com or for franchising information, visit wsrfranchise.com

  

 

Topics: Restaurant Brokers

Restaurant Brokers Expanding Coast to Coast - Attendees at We Sell Restaurants University

Posted by Robin Gagnon on Mar 23, 2017 8:30:46 AM

We Sell Restaurants is expanding coast to coast with a new class of training candidates enrolled in We Sell Restaurants University. 

Rob Morrison.jpgWe Sell Restaurants Ft Lauderdale is welcoming Rob Morrison to their team. A former U.S. Marine, Robert is currently a Board Member of the Broward County Veterans Association of Real Estate Professionals (VAREP), a non-profit organization dedicated to increasing economic opportunities for active-military and veteran communities.  

Rob studied Communication at the University of Miami and had a long, successful career as an award-winning journalist in New York City. Upon relocation to South Florida Rob entered the real estate business. Rob’s experience in commercial real estate has aided his clients greatly.  He will be completing We Sell Restaurants University next week and will begin work with Ken Eisenband, the franchise partner for this office.  E

Chris Morrison.jpgColorado Franchise Partner, John Jordan is also expanding his group.  His newest Restaurant Broker is Chris Gordon.  Chris has over two decades of experience in the restaurant industry and has proven himself to be an adept leader and skilled businessman.  A resident in the Denver South Metro area, some of his highlights through the years include working at The Fillmore Auditorium, Breckenridge Brewery, and most recently the Tailgate Tavern and Grill as General Manager. 

Chris entered the restaurant industry as a dishwasher when he was 15 years old, and worked his way up through the ranks to managing a multimillion dollar restaurant when he was just 19.  He has been a busboy, host, and cook, server, bar back, bartender, banquet captain as well as a corporate trainer.  He has served in leadership roles as both a Manager and General Manager for multiple operators.  Chris has worked on the Las Vegas Strip for celebrity chef Rick Moonen at Mandalay Bay and Del Frisco's Double Eagle Steakhouse.

As the General Manager for Tailgate Tavern he helped increase sales by over 50% the first year.  “We achieved this by completely redesigning the bar to function more efficiently, reducing the cost of raw materials, and creating incentives for the customers to spend more money.”

Scott Ruby.jpgAlso attending We Sell Restaurants University is the newest Franchise Partner, Scott Ruby.  Scott has expereince in both the front and back of the house along with first-hand knowledge of day to day operations and restaurant culture. Scott’s Food and Beverage industry experience evolved during his years in specialty restaurant management and as a Food and Beverage Director in Las Vegas, Nevada.
 
Scott’s experiences in the Vegas food and beverage mecca included the opportunity to be a key player on the grand opening team at the House of Blues, Mandalay Bay property, manage the House of Blues restaurant and in later years, he was recruited by Station Casinos.  In his tenure with Station Casinos as a Food and Beverage Director he was fortunate again to see expansion in opening both Sunset Station and Green Valley Ranch.  
 
In recent years Scott’s professional experience has been focused on operations, sales and marketing.   Having worked with the BNSF Railway, a fortune 100 company he served to grow and develop their market share.  Scott was honored to be chosen as employee of the year with this company thanks to his commitment to customer service and company culture.

The full class graduates on March 31 and will begin work in their markets immediately.  
 

 

Topics: Restaurant Brokers

Eric Gagnon Named to Southeast Franchise Forum Board

Posted by Robin Gagnon on Feb 10, 2017 9:39:14 AM

ERIC GAGNON, the President of We Sell Restaurants has been named to the Board of Directors of the Southeast Franchise Forum (SEFF). The Southeast Franchise Forum is a regional organization established to foster professional relationships throughout the franchise community and to enhance the reputation of franchising through the exchange of information, ideas and solutions.  

gagnon0033-1.jpgClarissa Bradstock, CEO of Any Test Franchising (AnyLabTestNow.com) said of Gagnon joining the board, "I'm pleased to announce that Eric Gagnon will be joining us on the SEFF board.  With Eric's experience as a franchisor, as well as his experience working with other franchise systems, I think he will bring a unique perspective to SEFF."

Eric is the founder of We Sell Restaurants and wesellrestaurants.com and began franchising the restaurant brokerage brand in 2012.   He is the nation’s leading restaurant broker who has been designated an Industry Expert in restaurant sales and valuation by Business Brokerage Press.  He is a frequent speaker, writer and co-host of the nation's long running radio show devoted to the restaurant industry.  

Eric is co-author of the award winning book, Appetite for Acquisition.  His book on buying a restaurant sets the standard for the industry, has consistent five star rankings on Amazon and was named "Best of 2012" by Small Business Book Awards in the year it was published.  Eric's background includes the financial services sector and he held positions with Bank of America, Bank of New York and big five accounting firm, KPMG before launching his brand in 2001.  

Gagnon is also the Past President of the Georgia Association of Business Brokers (GABB) and Lifetime Member of the Million Dollar Club. He received the organization's highest honor, the Phoenix Award, for achivement of the Million Dollar Award for more than a decade.  He is a member of the International Business Brokers Association (IBBA) , Business Brokers of Florida (BBF), and the International Franchise Association (IFA).  Eric is licensed as a Broker in Georgia, Florida and South Carolina.   He holds degrees from major universities in both the United States and Canada.

Gagnon said of his appointment to the SEFF board, "I am
excited and honored to participate on the executive board of this team focused on franchising in the south.  This is one of the most active chapters of the FBN (Franchise Business Network) of the IFA and I look forward to assisting with its continued success."

Eric joins other board members in the franchise community including the Chairman, Clarissa Bradstock of AnyLabTestNow, Tray Doster of Zaxby's, Chairman Emeritus, Jim Squire of Firestorm, Rupert Barkoff of Kilpatrick Townsend & Stockton, Bill Bishop of Grant Thornton Atlanta Office, RIck Batcheor of Qiigo, Dave Bridges from Leavitt Group Atlanta Office, Stan Friedman of FRM Solutions, Robert May from Rollins Inc and Kathryn Rookes Franchise Attorney.

 

Topics: Restaurant Brokers

BizBuySell Reports 2015 Deal Flow Stabilized - Restaurant Brokers See Growth

Posted by Robin Gagnon on Jan 27, 2016 3:47:43 PM

Biz Buy Sell has released their Insight Report for the fourth quarter of 2015. This nationally-recognized economic indicator tracks the health of the United States economy by measuring sales of small businesses. 

BizBuySell says during the October to December 2015 time period, businesses sold nationwide declined by 3.6% over the prior year for the same time period.  They say, "a total of 7,222 closed transactions were reported in 2015, nearly matching the 7,494 transactions in 2014, which was the highest year-end total reported since BizBuySell started tracking data in 2007." That transaction count included 1890 restaurant sales.  

Surprisingly, the report indicates that "The restaurant industry drove much of the transaction lag in Q4 2015, experiencing an 11 percent drop from the same time last year. While transactions were down for the restaurant industry, financials were up" according to the industry giant. They also showed that the median asking price and sale price of restaurants were up from $175,000 to $185,000 and $149,000 to $160,000 respectively.  

The results from the restaurant brokers at We Sell Restaurants differed significantly from the national reporting.  The firm had a 100% growth rate over the prior year in units sold. President Eric Gagnon says, "We are continuing to achieve record growth and the specialized nature of our practice seems to be producing much greater than industry results."  Robin Gagnon, a franchise resale specialist and princple in the firm says, "Doubling our unit counts in fourth quarter was part of a annual trend for 2015.  We do see other brokers struggling to meet the same level of results.  We attribute our results at We Sell Restaurants to both stronger marketing efforts, best in class training as well as a process based system which we have franchised."

The Insight Report stated that 1590 restuarants were sold across the country in the fourth quarter at an average multiple of 2.01.  The restaurant brokers found multiples to be closer to three times earnings based on the high count of franchise restaurant resales in their inventory mix.  BizBuySell indicates an average sales price of $155,000 for restaurants and $180,000 for Bars and Taverns.  

Bizbuysell released the following chart showing national units sold by quarter since 2011 for the entire industry.  

2015 Q4 Closed Small Business Transactions

Other statistics from the report indicate growth in median income for sold businesses in this time period.  This grew to $449,462, up from $417,562 in 2014 while the median cash flow crept up to $102,000 from $100,000 in 2014.The report indicates that while transaction count delined, "Improved financials allowed sellers to both ask for and receive a higher price for their businesses in 2015. The median asking price grew 12.5 percent from $200,000 in 2014 to $225,000. The median sale price also increased a solid 7.6 percent year-over-year, from $185,000 to $199,000. The average sale to asking price ratio of 90% remained flat from 2014 to 2015."  These statistics are displayed in teh chart below. 

2015 Q4 Key Financials of Sold Small Businesses

"After a very active 2013 and 2014, this year's small drop in transactions suggests the large rush of business owners waiting to sell during the recession may have now exited the market and we are left with a more stable, balanced environment," Bob House, Group GM of BizBuySell.com and BizQuest.com said. "Overall, the business-for-sale market remains strong. Business financial indicators are strengthening and owners are receiving stronger valuations, leveling out what has been a strong buyer's market in recent years."

BizBuySell also surved the business broker community in December of 2015. Fifty-two percent of all surveyed brokers believe the market still favors buyers, down from 59 percent in 2014 according to the survey results issued by the company. 

 "Overall, small business indicators continue to point toward a healthy market for buying and selling," House said. "While both sellers and buyers should keep their eye on the upcoming election and possible regulatory changes, it's unlikely either event would unhinge what has been an increasingly active business-for-sale environment. As small business financials improve and the market finds its balance, transaction activity should continue to be strong in 2016."

While results for restaurants lagged last year on the national level, they still represented 21% of total transactions nationally as shown in the chart below. 

2015 Q4 Small Business Sales by Sector

 

Source: Small business transactions reported on BizBuySell.com during the fourth quarter of 2015

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Topics: Restaurant Brokers