Who pays for closing attorney fees for restaurant sale?
Who pays for closing attorney fees for a restaurant sale, who does the lawyer actually represent? Once the buyer-seller has agreed to a purchase price, next, it’s time to open escrow and hire a closing attorney. The closing attorney represents the buyer, and it’s the buyer’s expense to pay at the closing table. Most transactions only have a buyer closing attorney; occasionally, a seller will...Read More
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Selling a Franchise Restaurant vs Non-Franchise
What are the Pros and Cons of Selling a Franchise Restaurant vs. Non-Franchise is a common question EATS Restaurant Brokers receives from sellers? Franchise Restaurants for Sale make up 60%-70% of all restaurant sold listings annually. Why is the number so high compared to independently owned restaurants? The hard facts are only 30%-40% of restaurants listed on the for-sale market will get...Read More
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How to review a Restaurant Profit and Loss Statement
Understanding how to review a Restaurant Profit and Loss Statement is a crucial variable for a Restaurant Valuation to determine the restaurant’s actual value. Restaurants are one of the industries that the ratios on a profit and loss statement can give valuable clues on how a seller operates his/her restaurant. Unexperienced buyers will look straight down to the Net Income number when...Read More
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The Cares Act 2-How does it help Restaurants?
The Cares Act 2 has some generous provisions to help restaurants. EATS Broker wants to share some great news about the latest $900 billion coronavirus relief bill. The coronavirus relief bill extends and modifies several provisions first enacted in the CARES Act, Congress’s $2.2 trillion pandemic relief law passed in March 2020. Congress passed the relief bill to provide support to help...Read More
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Understanding Add Backs when Selling a Restaurant
Understanding Add Backs when Selling a Restaurant can be difficult for inexperienced restaurant buyers and restaurant sellers to understand. The real value is more than just the bottom net profit number on the profit and loss statements and tax returns. When it’s time to sell a restaurant, how do you know what to add back to calculate the earnings before interest, taxes,...Read More
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Virtual Brands do they work for restaurant owners?
By now, most people have heard about Ghost Kitchens and Virtual Brands, do they work? Virtual Brands are restaurant concepts that are online-only brands that offer pickup and delivery. Virtual Brands help restaurant owners create multiple brands to represent its existing menu. Restaurant owners have complained about third-party platforms only allowing restaurants to choose a couple searchable...Read More
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What is The Best Way to Sell a Restaurant?
The best way to sell a restaurant in today’s market with restaurants closing at a record pace since the pandemic started is a tough question to answer. BizBuySell’s 3rd Quarter Insight Report reflects a market-driven by opportunity seekers and business owners either well-positioned to profit or forced to exit. The Restaurant Owners forced to exit likely will have to close permanently or try to...Read More
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What do Restaurant Business Brokers Do?
Restaurant Business Brokers are more similar to a quarterback on a football team than most people think. Restaurant Brokers are the quarterbacks for the sale process. Quarterbacks are known to be some of the smartest people on the team. A team that has a great quarterback has a competitive edge over another group. Restaurant Business Brokers are responsible for coordinating all the various...Read More
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How to Sell a Franchise Restaurant?
The decision to sell a franchise restaurant can be challenging in today’s market. The good news is that if you own a Restaurant Franchise, buyers are lining up with interest. Close to 60%-70% of the restaurants for sale in Georgia that sell are franchise concepts. Franchise concepts are growing right now, while independent owned restaurants are declining. Franchise Restaurants are popular...Read More
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How to Sell a Restaurant- Telling the story
How to sell a restaurant in today’s market only months after the Covid-19 pandemic crippled the restaurant industry is a challenging task. EATS Broker understands selling a restaurant is just not about the tangible items or the goodwill. Buyers in today’s market want to know what the story is of the restaurant. How has covid affected restaurant sales? Dominique Maddox a Restaurant Broker and...Read More
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