Are you selling your restaurant? Are you ready?
Have you thought about selling your restaurant? Are you ready to sell and let go? Selling a restaurant can be a mentally tough and draining decision. Several restaurant owners view ownership of a restaurant as having a child, an business identity, a way to provide for the family, and a legacy. According to Forbes, baby Boomers, defined as people born between the years 1946 and 1964, account...Read More
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Closing Attorneys for Restaurant Sales Transactions
Closing Attorneys for restaurant sales transactions are an essential part of the selling a restaurant process. Closing Attorneys act as neutral third parties in the transaction. Since they don’t represent either buyer or seller, as an attorney would. Closing Attorneys are known by multiple names like Escrow agents and Real Estate attorneys. The Closing Attorney’s job is to ensure a smooth...Read More
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Preparing to Sell a Restaurant-What you Should Know
The decision to sell a restaurant is the first step and figuring out how to sell a restaurant is the second step. When preparing to sell a restaurant, what should you know before starting the process? Baby boomers at record numbers are planning to retire and want to sell a restaurant. The preparation to sell a restaurant can start a year in advance, but mostly it happens unplanned or forced to...Read More
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4 Tips – How to Sell a Restaurant
How to Sell a Restaurant and get the highest and best offer can be challenging. Restaurant owners can help themselves sell a restaurant by checking their “restaurant paperwork” details before listing it for sale! When selling a restaurant, the real work starts before the restaurant has been listed for sale. An experienced restaurant owner should know the details, expiration dates,...Read More
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What is Restaurant Prime Cost?
Restaurant Prime Cost can be described as the most critical number a restaurant owner should know to operate a profitable restaurant. Restaurant Prime cost should get extensive attention on the profit and loss statement because the category is highly volatile. Today’s restaurant industry is faced with increasing labor wages and an explosion in food costs. These factors stress restaurant...Read More
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Dominique Maddox featured in Voyage Dallas Magazine
In the February issue, the founder and President of EATS Broker Dominique Maddox was featured in VoyageDallas magazine Local Stories. This is Dominique’s second time being featured in the Voyage magazine; he was featured in VoyageAtlanta in 2020. Voyage Dallas magazine’s goal is to highlight the best of Dallas people, businesses, organizations, and events. The Voyage Group of...Read More
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7 Most Common Restaurant Sale Deal Killers
The most common restaurant sale deal killers are items that are usually out of the hands of a Restaurant Broker. The process to sell a restaurant can feel like a marathon that many participants will have fatigue and not finish the race. It’s a known fact in the Restaurant Brokerage industry less than 50% of businesses that go under contract will close. Some Restaurant Brokers might...Read More
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How is Selling a Restaurant like Fishing?
Are you asking yourself how is selling a restaurant like fishing? The best fishers in the world know that they are not guaranteed to catch a fish every time they go fishing. The art of selling a restaurant is a process that is not guaranteed to end successfully for the restaurant owner. If there were guarantees in fishing, they would call it catching. Fishing can be defined as the activity of...Read More
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Meet Dallas Restaurant Broker Dominique Maddox
The title Dallas Restaurant Broker Dominique Maddox is a title I’m still getting used to hearing. I relocated from Atlanta, Georgia, to Dallas, Texas, in August 2021 to expand my Restaurant Brokerage firm. My story starts in Anchorage, Alaska, where I lived from 1981-2000; I received a football scholarship to attend Morehouse College in Atlanta, GA. After high school, I actually thought about...Read More
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3 Biggest Mistakes Restaurant Sellers Make
The biggest mistakes restaurant sellers make are simple issues that can be addressed before a restaurant is listed for sale. The mistakes are based on facts, books, and records and lack of understanding of selling a restaurant. Dallas Restaurant Broker Dominique Maddox says, “ the small details in the process to sell a restaurant make all the difference at the end. The lack of attention to the...Read More
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How to Get a Restaurant Ready to Sell
The art of getting a restaurant ready to sell really starts with planning and preparation. Restaurant owners planning to sell a restaurant in 2022, should be in the process of collecting and organizing important supporting documents now. The New Years is a great time for restaurant owners that are considering selling a restaurant to prepare for the sale. January-April is the busiest months...Read More
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Exit Planning for Restaurant Owners
Exit planning for restaurant owners is a process that should start before a restaurant has opened. The harsh reality of restaurant ownership is 80% close within five years. If you are going into the restaurant industry knowing that it will be time to exit within five years, why not plan in advance? EATS Restaurant Brokers finds that restaurant owners’ lack of exit planning can create...Read More
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