Why use a Restaurant Broker when it’s time to sell a restaurant? It’s a simple question that has a complex answer.
A Restaurant Broker is a Business Broker specializing in selling restaurants, bars, and nightclubs. Restaurant Brokers do not sell gas stations, daycares, or service-based businesses; if the listing doesn’t involve a restaurant concept, they will not take it.
Dallas Restaurant Broker Dominique Maddox says,” Buyers and sellers can underestimate the complexity of selling a restaurant. The time and effort it takes to complete a transaction can be an eye-opening experience for both parties.”
The top Restaurant Franchise Brokers in the nation have years of experience selling restaurants. Several newer Restaurant Brokers have joined Restaurant Brokerage firms or purchased franchises. Besides looking at the company the Broker is associated with, smart restaurant owners will ask questions about their experience and years in the business.
Restaurant Business Brokers help restaurant owners understand the process of selling a restaurant.
EATS Broker provides the top reasons to hire a Restaurant Business Broker:
Handling the Lease Assignment or New Lease—Restaurant leases are far more complex than other commercial leases, such as those for a storage space, clothing store, or beauty salon. Restaurant leases include specific essential clauses that other industries do not require.
The Restaurant Broker will need to keep in contact in inform multiple parties during the transaction. The parties can include:
-Landlord
-Bank
-Escrow Company
-Franchise approval is needed
– 401K Providers to liquidate funds for the purchase
-E-2 Visa Attorney
-Equipment Inspector
Intermediary—Restaurant Real Estate Brokers act as a buffer between the Seller and Buyer. The closing process can take 15-90 days, depending on the transaction and whether it’s a Franchise Restaurant. Most transactions have challenges and obstacles, and the Restaurant Broker’s job is to keep everything moving toward the closing table.
Why Use a Restaurant Broker? It’s simple: Do you want to sell your restaurant at the highest and best price? Restaurant Business Brokers work on a 100% commission basis. They want to get the highest price for their clients. Every day, they try to sell a restaurant and understand the market.
EATS Broker is available to provide free, confidential restaurant valuations for all restaurant owners thinking about selling a restaurant.
For more information on the restaurant market and other available consulting services or restaurant valuations, contact Dominique Maddox at 404-993-4448 or by email at [email protected]. Visit our website at www.EATSbroker.com
