Bobby Flay interview, restaurant liquor license renewal time, restaurant sales trends and more.
End of the year - December 31 is the Georgia liquor license renewal time. That can be a bit tricky when trying to buy or sell a restaurant. The deadline for the state is firm but each city or county may require something different. Does that mean it's a good or bad time to buy a restaurant? Well, Donna asks that question and the response, "It's always a good time to buy a restaurant from We Sell Restaurants." Atlanta brokers tell buyers to get busy if they want to take over ownership this year however since some planning can be required to make sure that everything transfers appropriately prior to year end. Donna asks is it a smart thing to buy a restaurant this time of year and the answer depends on the buyer's personality. Some buyers thrive in a trial by experience environment. That means going into ownership fourth quarter when things are busy can be a great thing. If you prefer to learn more slowly, then wait to first quarter when the market is not at the peak. Eric points out that there are huge revenues this time of year so your capital outlay will be replenished faster by acquiring strong cash flow this time of year.
The radio audience was also treated to some great information from local CPA Robert Wagner who surveys the local restaurant marketplace. His most recent data shows 78% of Atlanta restaurants reported positive gains and nearly 75% showed double digit sales gains. Eric and Robin have been reporting similar results for weeks but this is true statistical data that says Atlanta restaurant sales are heading in the right direction and this latest quarterly result is excellent. Atlanta is going back to eat in restaurants and the numbers prove this out.
Lastly, Atlanta restaurant brokers report that they were broker of record for the sale of Buckhead Pizza Buford (the Mall of Georgia location). The new owners are thrilled to be taking over this established business. They will follow the recipes and management traditions of the current owners under a licensing agreement.