Steve Zimmerman recently presented this “The Next Level” track workshop “Industry Specialization – Innovative Techniques to Get Profitable Results" at the IBBA Annual Conference 2018 in New Orleans.
Steve shares how evolving into a specialist has proven advantageous in growing his business. Since 1996, Steve has personally sold over 900 restaurants, bar and club businesses, over 30 related commercial buildings and completed over 3,000 valuations. Steve will outline his targeted marketing program including: State of the Art Internet Marketing Program, Bi-Weekly Email Newsletters, Restaurant Rap Quarterly Newsletter, Targeted Email Blasts, and Social Media Marketing Programs. Additionally, he will cover the advantages of being the Go-To Restaurant Broker in California, his Buyer Broker Representation program, being an Expert Witness and performing broker’s opinion of value for free on a regular basis. Attendees received a complimentary copy of Steve’s book, "Restaurant Dealmaker – An Insider’s Trade Secrets for Buying a Restaurant, Bar or Club" (available on Amazon.com)
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Restaurant Realty Company presents at IBBA 2018
1.
2. The Advantages of Being a Specialized Restaurant Broker
• Become the expert and the go to person which results in out-performing
your competition in obtaining the listing.
• Can do more sales volume due to economies of sale (don’t have to go
through a learning curve each time you deal with a new industry if
you’re a general business broker).
• Becoming the expert gives you the opportunity to do many Brokers
Opinion of Value for a fee, getting appointed by the Bankruptcy Court to
sell businesses In bankruptcy, and Expert Witness opportunities.
• Get a large number of referrals from former clients, landlords, attorney’s
and accountants.
3. The Disadvantages of Being a Specialized Restaurant Broker
• Deal size is smaller and therefore commissions are smaller (we offset
this to some extent by closing a large volume of deals and at least a
couple of related commercial building sales yearly).
• The sophistication level of buyers and sellers may not be that of a
general business brokerage.
4. Qualities of Niche Marketing
• Specialize in 2 or 3 categories. For example in retail, instead of covering all
retail types hone in on a few types like Auto (body shop, service & parts)
Laundry (dry cleaners, coin laundry) Salon (beauty, facial, tanning).
• It helps to have a background in what you specialize in for credibility.
• Restaurant Realty has found a niche in the restaurant and related
commercial building industry and works expeditiously to continue its growth
and expansion.
5. Restaurant Realty Company’s Organizational Chart
Project
Manager
Buyer
Manager
Southern
CA Agents
Principal Broker
Northern
CA Agents
Marketing
Manager
Transactio
n Manager
Internet Coordinator
6. Utilization of Zoho’s CRM Web Based Contact Management System
This management system is tailored to our specific use by our team and can be
modified when needed. We have set up and use these main sections. Leads,
Contacts, Listings, Inquiries, Reports & Activities.
How RRC’s System Works
7. How We Obtain Listings
• Referrals from clients, other brokers, attorneys, accountants, landlords &
lenders
• Search Engines - Google, Bing, Yahoo, etc
• Social Media – Linkedin, Twitter, Facebook, etc
• Mailings, drop-offs & email blasts
8. How Buyers Get Information On Our Listings
94 % of RRC’s Listings are Confidential in nature. Buyers find our listings on
13 websites including our own. Buyers must complete an NDA prior to
receiving listing info. There are 6 places on our website where they can access
our NDA, shown below as well as 2 locations on the individual listing page
itself.
9. Buyers can sort our listings in 6 ways. By Property type, County, RRC#, Region,
selecting our grid view, or our standard list layout.
How Buyers Get Information On Our Listings
10. How Buyers Get Information On Our Listings
With all of our search options the user chooses the perimeters and can
combine both property type and county for targeted results. Here are a few
examples:
11. Completing our NDA
Our NDA is completed online, or can be emailed to buyers. When these are
submitted they go directly to our Buyer Manager. Included in this NDA are
screening questions. If qualified then the Buyer is given the name and
address. If they have further interest we get them a package (lease,
equipment list, financials - 3 years tax returns and year end P & L’s, year to
date financials including recast financials and sales tax returns, etc). If they
have further interest a Back of House Tour is setup.
12. How We Sell Listings
• Internet Marketing – Restaurant Realty utilizes it own unique website as
well as 13 others to promote, engage and create interest in our listing.
These additional websites are, Restaurants for Sale Online, BizBuySell,
Bizquest, BizBen, BuyBusiness, Loopnet, BusinessBroker.net,
BusinessMart, GlobalIBX.com
Business for Sale Exchange, Craigslist, Cabb.org and
BusinessForSale.com
13. How We Sell Listings
• Search Engines – Google, Bing, Yahoo, etc.
• Restaurant Realty’s exclusive eNewsletter. This newsletter is deliver via email to
our database of 40,000+ buyers every week. Its content is created from Restaurant
Realty’s Listings and also includes informational content that we find useful.
14. How We Sell Listings
• Marketing Eblasts created for designated listing. These Eblasts are
intended to give listings traction. The registered buyers who receive a
specific blast would have been looking at other similar listings within the
same region and approximate price range.
15. Other Marketing Items RRC Utilizes
• Restaurant Rap and Restauranteur of the Quarter which is located in the
News/Articles tab of our website.
16. Other Marketing Items RRC Utilizes
• Restaurant Dealmaker – An Insiders Trade Secrets for Selling a
Restaurant, Bar and Club
• Restaurant Realty has been featured in articles in the news and we are
proud to share these articles on our website.
17. Other Marketing Items RRC Utilizes
• Webinars through CABB
• Teaches Classes at IBBA and CABB
• Network through CABB, IBBA, California Restaurant Association and
Golden Gate Restaurant Association.
• Speaking at Colleges, Trade Associations and Other Organizations
• Expert Witness Work.
18. Expert Witness
With extensive experience as an expert witness, Steve works regularly with
many attorneys and the courts regarding valuations, leases, acquisition and
disposition matters.