4 Lessons on How to Sell a Restaurant -Eric Gagnon on Business Podcast

Posted by Robin Gagnon on Sep 16, 2021 6:45:00 AM

 

Eric Gagnon of We Sell Restaurants brought his expertise as a Certified Restaurant Broker to the latest episode of the Business Exit Stories podcast by Marvin L. Storm. The episode highlighted four unique deals Eric has handled in 20 years of helping restaurant owners sell a restaurant. 

The podcast episode, entitled “How the IRS Can Kill a Deal Without Breaking a Sweat”, includes 4 of Eric’s craziest deals during his time as a restaurant broker. The title of podcasts is derived from the first deal Eric talks about with the podcast host. All the stories Eric provides are examples of how to sell a restaurant, as well as what not to do when you sell a restaurant.

Eric podcast photo

How to Sell a Restaurant: What Not to Do

The first half of the podcast navigates listeners through two restaurant deals that failed due to a few key mistakes. Eric’s opening story outlines how one business owner’s lack of transparency killed his opportunity to sell a restaurant.

The next story looks like a failed transaction at first glance, but it pivoted to a success story thanks to something called double-dipping. A family business looking to sell a restaurant and move on to a new career had a buyer lined up and ready to go, but who ended up walking away from the deal after a bad thunderstorm (more on that in the full podcast). The seller sold to a new buyer just a few months later and kept the sales from the first deal.

 

How to Sell a Restaurant Successfully

The last two deals Eric shares with the podcast are successful examples of how to sell a restaurant. They revolve around business acquisitions and reasonable risks when selling a restaurant. Listen to the full podcast to learn how a bottle of Jägermeister filled with Coca-Cola ties into all of that.

Every business transaction is unique, and these crazy deals shared by Eric Gagnon are yet another example of why hiring an industry specialist is a must when you want to sell a restaurant. Our Certified Restaurant Brokers have the combined industry knowledge and business expertise to sell a restaurant successfully and develop creative solutions to any roadblocks. If you are a restaurant owner ready to sell a restaurant, get your free restaurant valuation here.

If you are exiting a restaurant ownership role and looking for a new career path, We Sell Restaurants is actively seeking candidates to apply to our Specialized Business Broker Franchise for Restaurants. Learn more about this opportunity at wesellrestaurants.com/franchise.

Tune into all the details of these restaurant deals and get insights on how to sell a restaurant by listening to the full Business Exit Stories podcast, hosted by Marvin L. Storm.

 

About Marvin L. Storm Business Exit Stories Podcast

Business Exit Stories podcast produces content for entrepreneurs who are planning an exit from their businesses. Marvin L. Storm listens to M&A Advisors, Investment Bankers, and Business Brokers with unusual stories from their craziest business deals. Episodes feature a variety of business owners who talk about how to sell a business, sell a restaurant, handle unique situations, and even offer tips on what not to do. More about this podcast is available at www.businessexitstories.com. You can follow and listen to the Business Exit Stories podcast on a variety of platforms, including Apple Podcasts, Spotify, Pandora, and more.

 

Topics: Selling a Restaurant

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