How do you write a letter of intent for a lease
How do you write a letter of intent for a lease is a struggle for inexperienced brokers representing clients or unrepresented potential tenants? Once a potential tenant finds a commercial lease space, the process to negotiate with the landlord begins. A letter of intent (LOI) is a document declaring one party’s preliminary commitment to do […]
Day in a Restaurant Broker’s Life
What does a Restaurant Broker actually do daily? Dominique Maddox, Founder and President of EATS Broker share his thoughts about the Day in a Restaurant Broker’s life. I wrote a blog last year about my daily activities by the minute as a Restaurant Broker that received great interest and replies. I have decided to start […]
Selling a Franchise Restaurant-Transfer Fee
When selling a franchise restaurant, how much is the Franchise Transfer fee? This question is one of the first questions EATS Restaurant Brokers wants to know from franchisees interested in selling a franchise restaurant. Franchises have various Franchise Fees, but one fee is significant for reselling a restaurant, and it’s the Franchise Transfer Fee. The […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
