Buyer FAQ
Leading Restaurant Brokerage in Dallas, Texas – EATS Broker Sell Restaurants, Bars & Nightclubs
Why should I use a Restaurant Broker?
EATS Broker are an excellent source of information about restaurants and the buying process. We are familiar with the market and can advise you about restaurant sales trends, pricing and help with restaurant price valuations.
Restaurant Brokers are usually paid a commission by the seller, not the buyer. This is a huge benefit to the buyer having an experienced Restaurant Broker provide his/or her services FREE of charge.
What are common documents requested during due diligence?
Copy of the Lease
Tax Returns for 3 years
Profit and Loss Statements for 3 years
Complete Furniture, Fixtures & Equipment list-owned by seller
POS Sales reports
Sales Tax Filings
Can EATS Broker help with the lease ?
Yes, we have years of helping buyer clients negotiate commercial leases on great restaurant spaces. The landlords most times don’t have the best interest of the tenant in mind, so you need an expert on your negotiating side. Find a list below of items we review on your lease.
Important Lease Checklist:
Minimum length of the lease 10 years for SBA Loan
Yearly sq. ft. rent increases
Options to Extend Lease
Extent of Personal Guarantee
Details to Assignment of lease
Does landlord own any of the furniture
Lease assignment fee
How much does an EATS Broker Charge?
Our services are generally complimentary to our buyers purchasing a restaurant.
What documents do I need to lease a restaurant?
Cash is King when it comes to leasing a restaurant and sometimes getting landlord approval. The landlords are usually looking for 6-12 months of base rent in a potential tenant’s bank account. Find a list below of all items you should have ready to present to your Restaurant Broker:
- Copy of Menu(if you are opening a new restaurant concept)
- Restaurant Business Plan with 3 years sales forecast
- 3 years of personal tax returns(can be sent directly to landlord)
- Bank Statement, 401K, or Letter from Bank showing liquid cash availability
- Create your selling story-include a quick bio regarding your working experience and how it will help you be successful with the new restaurant.
Why use EATS Broker
We are Franchise Resale Experts and Restaurant Brokers bringing a new flavor to the Restaurant Brokerage Industry. We offer all of the following Buyer Services:
- Targeted restaurant selection by identifying opportunities that meet specific criteria and cash flow needs
- Schedule showings with sellers and landlords
- Reviewing and understanding restaurant financial records including Tax Returns and Profit and Loss Statements.
- Negotiate terms and conditions guidance
- Assist with contract negotiations
- Landlord assistance
- Assist with franchisor approval
- Aid with finding bank financing
- Provide access to a large supportive network of professionals to assist with restaurant start-up
