http://sellyourbusinessflorida.com/six-tips-to-successfully-buying-a-restaurant/ - buying a restaurant has less risk than starting a new restaurant, but without knowing what to expect you could find yourself in over your head. Here are the tips for buying a restaurant. If you need help in the purchase of a restaurant, call business broker, Kimberly Deas 904-571-9580
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Tips for buying an existing restaurant
1. Tips for Buying an Existing
Restaurant
Kimberly Deas / William Yankee
Business Transfer Specialists
904-571-9580
2. Buying a Restaurant has Risk
• #1 Business to fail
• Like an on-demand
manufacturing plant
• Risk can be mitigated by
buying existing restaurant
opposed to starting a new.
www.SellYourBusinessFlorida.com
904-863-6655
3. #1: Qualify Yourself
• Just because you can cook,
doesn’t mean you should own a
restaurant.
– Do you have skills to run a
restaurant?
– Do you have capital to keep it open?
– Do you have enough cash to buy a
GOOD restaurant?
www.SellYourBusinessFlorida.com
904-863-6655
4. #2: Understand What You are Buying
• Not every owner is forthright with
information.
– Why are they REALLY selling?
– Are they highly motivated and WHY?
– What assets are being sold with the
business?
www.SellYourBusinessFlorida.com
904-863-6655
5. #3: Do Your Research
• Know what are you REALLY buying!
– What do others say about them?
– Is the business mismanaged?
– Is there an innate problem with the
business (competitors, pending road
construction, etc.)
www.SellYourBusinessFlorida.com
904-863-6655
6. #4: Location, Lease and Landlord
• The current owner will leave the
business after the sale, but the
landlord is there to stay.
– What are the landlord requirements?
– Is the lease more than 10% of
revenues?
www.SellYourBusinessFlorida.com
904-863-6655
7. #5: Understand Pricing
• Restaurants are priced on either value of
assets or cash flow.
– How did the owner come up with the price?
– Is the owner offering seller financing?
– Is the current owner reporting all cash sales?
– Can they prove cash sales?
– Is there a broker involved?
www.SellYourBusinessFlorida.com
904-863-6655
8. Advantage of 1 Broker vs. Many
Brokers For Buying a Restaurant
1 Broker
• FOCUS, FOCUS, FOCUS!!
• Broker completely knows you and
your needs
• Accumulated knowledge of your
interests
• Business Advisor to guide process
• Insight to Early Listings
Many
• No Focus
• Keep retelling your story
• No broker looking for you
• If talking to every broker,
some brokers might not
work for you.
8
www.SellYourBusinessFlorida.com
904-863-6655
9. Working with a Broker
• To Qualify
– Complete intake interview
– Complete Personal and Financial Profile
– Provide Resume
• Pre-qualify for purchases (as needed)
• Complete NDA’s in timely fashion
• Provide feedback on each business evaluated
www.SellYourBusinessFlorida.com
904-863-6655
10. Why Use Us?
• High Level Professionalism
• Confidential
• Dedicated Networks of
Brokers to find Listings
• Responsive
• Experienced
• Partnership Creates more
Results
10
www.SellYourBusinessFlorida.com
904-863-6655
Hinweis der Redaktion
SLOW!!!The business owner is an expert at running the business but may not be as knowledgeable about the selling process. An intermediary can assist the business owner reach their goal of a successful transaction.FacilitatorProcrastination and delay are critical factors when structuring a deal. Therefore, a business broker will continually move the process forward with qualified buyers, financing resources and ancillary associations to the deal such as CPAs and attorneys. a business broker is in a better position to perform this function than the owner as he/she is focused on the life cycle of the deal. The owner will be allowed to focus on operating a profitable business.NegotiatorSelling a business is often emotional for the business owner. An intermediary will act on behalf of the owner and will establish a strong negotiating position without compromising the goodwill and relationship between the principal parties. An intermediary will increase the opportunity to receive “the best price” for the business.ResourcesA business broker is a skilled professional in the mergers and acquisitions world and has established relationships with many professional organizations which are required to complete the transfer of ownership. These relationships will prove to be extremely beneficial to the business owner and the buyers.ConfidentialityAn owner could experience disastrous results by “leaking” that the business is for sale. Employees, customers, suppliers and competitors' relationships could be damaged causing an adverse condition hurting the potential sale. A business broker will preserve the confidentiality of the selling company during the process of marketing the business and only share information on a “need to know” basis.AdvisorAs an intermediary, a business broker will provide the business owner with strategic information regarding market timing, market conditions, market price, financing options, structuring the transaction and other information that is advantageous to the owner.
Sellers expect us to bring a qualified buyer for their business
SLOW!!!We are the premier brokers in Jacksonville and we would encourage you to talk with others brokers to see our difference. We are your go to people when it comes time.