Your SlideShare is downloading. ×
0
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Tips for buying an existing restaurant
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Tips for buying an existing restaurant

92

Published on

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 …

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

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
92
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide
  • 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.
  • Transcript

    • 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

    ×