Finding Great Restaurants for Sale

Posted by Robin Gagnon on Feb 17, 2012 4:46:00 PM

restaurant brokerYou did it. You have finally arrived at a place where financially and emotionally you are ready to pull the trigger; you are going to buy a restaurant.

You have dreamed about it for years. Your passion has always been to own your own cafe or a chain franchise or a fine dining establishment.  Perhaps you have toiled in other people’s kitchens your whole career or perhaps you’ve never been a cook but you have always yearned to own a restaurant and partner with a talented chef.  However you have arrived at this place, you are ready.  All you need to do is find the perfect restaurants for sale.  

So how do you go about finding the perfect restaurants for sale?  Are you going to seek the advice of a real estate professional? When it comes to commercial real estate, it is not an easy do-it-yourself venture. Getting professional advice is definitely the right decision.  

So how do you choose the right advisor? Well, if you walk into your local real estate office you may find someone that knows houses but they won't be able to help you with restaurants for sale.  They may know neighborhoods and school districts but finding restaurants for sale is beyond their expertise. Even someone sincere in their attempt to help could point you in the wrong direction or make mistakes on a contract because of their inexperience.   

If you are going to seek out professional advice you should find an expert who specializes in not only commercial real estate, but who specializes in selling restaurants. How do you know who the specialists are?  You will need to do a little research.  You can ask them, but some salespeople will tell you what you want to hear. A better indication is to look them up online.  Normally on their web site, a business broker or commercial agent will state pretty clearly what their specialties are.  You should look at their blog or website.  You should try to find a real estate professional who gives you value-added content on their website specifically about the restaurant business.  

Does the realtor publish a restaurant business newsletter?  Do they blog about trends in the restaurant business? Have they written a book like Appetite for Acquisition? If the answer to any of these questions is yes, you have probably found the right person to help you to take the next step and find the perfect location or business in which to invest.  

You attained your dream.  Good luck on taking the next step!

Topics: Buying a Restaurant, Restaurant Brokers

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