Atlanta restaurant brokers discuss the blazing hot market. In their words, "restaurants are flying off the shelf." New restaurant owners are upbeat and ready to go.
Atlanta restaurant brokers, Eric and Robin Gagnon discuss the many closings that have taken place in the Atlanta market with their firm so far in February. They are off to a record start and took time to congratulate all the new restaurant owners. These include a new team at Highlands Grill in Kennesaw, Georgia. This is the second location for the buyers that also own Bogey's.
A return of existing customers was part of the theme of the month. Another former client (Dorothy and Mike Phillips of The Village Porch Cafe) called back to list their restaurant. Congratulations to Jeff and Faith Chisolm in Cartersville who made the purchase on this restaurant.
The market is moving so quickly that listings are not staying in play for long. Two listings signed the second week in December went under contract before month end and were closed on by February first. In one instance, a former We Sell Restaurants buyer bought his second restaurant and the other purchase was a new customer. The average time on the market is definitely shortening in this marketplace though the industry average still hovers at more than six months.
The team reminded everyone about the release of the new book by We Sell Restaurants called Appetite for Acquisition. The restaurant brokerage firm will be doing book signings on their new book which is a complete how to on how to buy a restaurants. It includes real stories of buyers that have purchased in the past.
They will also be signing copies at the Cobb Galleria Spring Book Show on March 26. In addition, the restaurant team will also be speaking on their experiences in writing a non-fiction book and bringing it ot he marketplace.