We Sell Restaurants, the nation’s largest restaurant brokerage firm announces the launch of a groundbreaking new initiative, the Certified Pre-Owned Restaurant™ Restaurant program.
From cars on the secondary market to homes transferring from the original owner, buyers appreciate and expect that the items they purchase undergo an inspection and set of criteria that places it in the unique category of the “best of the best.”
That thinking is the impetus behind the new We Sell Restaurants Certified Pre-Owned Restaurant™ designation. Just like a ten-point inspection for a Certified Pre-Owned Vehicle before transfer, these restaurants, previously owned by other individuals, have undergone thorough review by expert Restaurant Brokers, providing peace of mind for those in the market to buy a restaurant.
The new designation and federal trademark are the first of their kind in use for business brokerage to differentiate those listings without verifiable earnings and full inspection from others offered for sale.
This is a breakdown of the ten points required for a restaurant for sale listing to meet the criteria for Certified Pre-Owned Restaurant™, a trademark of the We Sell Restaurants brand, a nationwide franchise operating in 45 states.
- Reviewed by a Certified Restaurant Broker: Our Certified Restaurant Brokers have undergone rigorous training and certification in the specialized field of valuating and selling restaurants. They apply this unique knowledge for the appropriate valuation and pricing to any listing designed as a Certified Pre-Owned Restaurant™
- Verifiable Sellers’ Discretionary Earnings (SDE): Too many buyers inquire on the average broker’s listing only to learn the numbers cannot be substantiated. A Certified Pre-Owned Restaurant™ will be a cash-flow positive business with verifiable earnings and a Business Analysis Tool ready for review.
- Evaluated based on industry guidelines for expense ratios: Restaurants fall into typical expense ratios and profitability metrics that provide key insight to performance now and in the future. A Certified Pre-Owned Restaurant™ has been evaluation based on the controllable and non-controllable expense lines to identify the current status of the business along with recommendations to bring expense ratios in line and improve profitability.
- If SBA lending is advertised, business earnings qualify subject to Lender's review and approval of the buyer. If a Certified Pre-Owned Restaurant™ is advertised by We Sell Restaurants, we've done the legwork with the lender to confirm the business financials will qualify for lending in today's market. That means the buyer must only provide their financials and experience to the lender to move forward on lending for the business.
- A Business Analysis Tool with the latest profit & loss is available for immediate review by qualified buyers: The details of a Certified Pre-Owned Restaurant™ have available, up-to-date numbers that are instantly available for a buyer who qualifies for the listing based on the seller or the franchise’s requirements to purchase. The We Sell Restaurants Proprietary Business Analysis Tool, the most thorough offering presentation format in the industry includes dozens of pages of data and information on the business for sale. This is instantly available for buyers that qualify for the purchase based on the criteria of the seller, lender or franchise. Only restaurants with accurate, clean books make the cut.
- Priced based on market comps and accepted industry guidelines: The methodology for pricing the business is based on up-to-date specialized knowledge and comparable sales nationwide either with lending or without. A Certified Restaurant Broker relies upon data, not intuition for pricing which means the buyer and seller both benefit in the transaction.
- All equipment transfers free and clear of any liens subject to a UCC Lien search by the closing agent: For the buyer, it is critical that the equipment transfers securely and without issue. A UCC lien check or Uniform Commercial Code filing check is performed prior to closing to be sure no one else has a financial interest in the equipment.
- If leased, the property is available for assignment, extension, renewal or new agreement for qualified buyers: For those looking to acquire a restaurant, it is critical that either existing lease terms will transfer or the Restaurant Broker has already confirmed the ability for granting of a new lease with comparable terms. A change in lease circumstance can greatly change the financials of the business so this is a key element to retaining the value stipulated in the listing.
- If the restaurant is a franchise, the business meets criteria for transfer or assignment of the franchise: For those looking to turn the key on an existing franchise, a Certified Pre-Owned Restaurant™ listing guarantees that We Sell Restaurants has partnered with the franchisor with a clear understanding of the requirements needed to qualify the buyer as a prospective franchisee. This includes an understanding of the transfer fee, any remaining option years on the franchise and the full training requirements. A buyer must have all this information in order to clearly understand both the current and future obligations he may have with a franchise restaurant brand.
- Includes the services of a Certified Restaurant Broker at no cost to the buyer: All services and work performed by the Certified Restaurant Broker before, during, and after the sale of a Certified Pre-Owned Restaurant™ are free of charge as part of our commitment to excellence in customer service.
The Restaurant Brokers at We Sell Restaurants have developed cutting edge methodology with the newly launched Certified Pre-Owned Restaurant™ Program.
It is designed to identify the best restaurants for sale for both the experienced and novice buyer. Browse the hundreds of restaurant for sale opportunities online to spot those with the Certified Pre-Owned Restaurant™ trademark or contact one of our expert restaurant brokers for more details.
Robin Gagnon, Certified Restaurant Broker®, MBA, CBI, CFE is the co-founder of We Sell Restaurants and industry expert in restaurant sales and valuation. Named by Nation’s Restaurant News as one of the “Most Influential Suppliers and Vendors” to the restaurant industry, her articles and expertise appear nationwide in QSR Magazine, Franchising World, Forbes, Yahoo Finance, and BizBuySell. She is the co-author of Appetite for Acquisition, an award-winning book on buying restaurants.