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Restaurant Industry Show Upbeat Signs
October 18, 2012 by Mina Singson-Brightman
September 2012 Latest economic surveys demonstrate that US consumer spending increased in recent months. This is great news for the restaurant industry as consumer spending for drinking and eating places also experienced nearly 3% growth, driving a 0.5% gain in restaurant opening nationwide in Spring 2012, according to the most recent restaurant surveys conducted by The NPD Group, a leading market research company. Consumers may not be flocking to restaurants in droves, but they are going out, thats good news, says Bonnie Riggs, NPD restaurant industry analyst. Were also seeing that when they do dine out, they are trying new offerings, spending a little more and not relying totally on deals. However, their continuing cost-consciousness, still relatively high unemployment, and economic uncertainty will keep the industry flat.
February 24, 2012 by Shelli Margolin
As with most businesses, price is a prime factor in selling a restaurant fast. However, restaurants can sell for their asset value alone, such as furniture, fixtures and equipment (FF&E) along with their permits and licenses. Knowing how to value those assets is the key to selling a restaurant quickly. Price is not the only determining factor in procuring a quick sale. You need to get into the buyer mindset and make sure a buyer sees the same value in your restaurant as you do. Here are some no nonsense step to getting your restaurant sold fast: 1. Price Price Price!!! Just like anything else the better the deal, the faster someone will snatch it up. Some factors that go into determining the price are location, FF&E replacement values, permits and licenses. 2. Make it easy to understand -
February 24, 2012 by Shelli Margolin
Price is not the only determining factor in procuring a quick sale. You need to get into the buyer mindset and make sure a buyer sees the same value in your business as you do. Here are some no nonsense universal step to getting your business sold fast: 1. Price Price Price!!! Just like anything else the better the deal, the faster someone will snatch it up. 2. Make it easy to understand - If someone cant understand how you do business and how you derive your net profit, they generally arent going to buy your business at any price. Make sure you have straight forward profit and loss statements for the last three years Put together a list of inventory and other assets such as furniture, fixtures and equipment (FF&E) and list their replacement costs. Have any employment contracts organized and ready for review Organize your customer/client lists List out any debt that will need to be dealt with in the sale
November 21, 2011 by Shelli Margolin
By Shelli Margolin, Restaurant Business Broker In the current economy, many restaurants that once thrived are sadly no longer able to sustain a positive cash flow. However, the good news is that selling a restaurant that is operating under a loss or poor revenues is possible. The biggest barrier to entry in the restaurant industry is the initial build-out costs. If your restaurant has a functioning hood, flood drains, three part sink and a permitted refrigerator unit, then your restaurant will sell. If you have a liquor license, your restaurant will sell for more! The most common obstacles to selling your restaurant are: 1. The price you want vs. the actual market price 2. Messy, incomplete or none existent books and records 3. Deferred maintenance 4. Not being up to code 5. Expiring lease 6. Time and energy Preparation is the best way to overcome these obstacles:
September 06, 2011 by Stuart Gross
Are you the owner of a small or medium-size business in the creative of media industry who dreams of getting out and retiring, writing a memoir, or simply getting away from it all? Thinking about selling your business? In todays economic climate, selling your media or creative business can be a complicated and daunting experience. The skills and knowledge you acquired by running a successful business are not necessarily the same skills you will need to sell it. Here are 10 things to consider: 1. Am I REALLY ready to sell my business? One of the most important questions a buyer has is, Why are you selling? Selling your company is a life-changing event, with both positive and negative effects on your financial condition. Your mental and physical health may also be affected. You need to know if you will have enough money, moving forward, to live the way you choose. It is a very big decision. And you need to be able to answer the question for potential buyers as
Jered Chapman joins BizEx Business Brokers in Marina Del Rey
June 28, 2011 by Jered Chapman
MARINA DEL REY, CALIFORNIA (June 21, 2011) BizEx is pleased to announce that it recently welcomed Jered Chapman as the newest member of its team of business brokers. Jered brings years of business experience to BizEx. Following a successful career as a college coach, he began overseeing operations and consulting with various companies and organizations in Philadelphia and Los Angeles. He has worked with business owners in various industries, including restaurants, night clubs, health clubs, sports apparel retail, graphic design, and distribution centers. Jereds background emphasizes his knowledge in business development, operations management, and consulting. He is a skilled communicator and project manager, helping clients understand the business selling and buying process.
Inc's 10 Questions to ask before Buying a Business
May 26, 2011 by Michael Davidson
I just read an interesting Article from Inc., entitled 10 Questions to ask before Buying a Business. Many experts are predicting that a huge wave of businesses will become available over the next decade or so as baby boomers look to sell. As the economy continues its climb into a full-blown recovery (we hope), it just might be the perfect time for you to fulfill that lifelong dream of buying a business. If you can find the right business that is the right fit for you, I think this is a great time to buy! Overall, I think it's a pretty good list. When we create a Confidential Business Review (CBR), we try to address these questions up front before you even meet with the owner. Some of the questions not asked by Inc., which we think are important include: Can you as a new owner successfully run and operate this business? If not, the other questions don't really matter.
Shelli Margolin Joins BizEx Business Brokers in Marina Del Ray
March 22, 2011 by Shelli Margolin
MARINA DEL REY, California (March 22, 2011) BizEx is pleased to announce that Shelli Margolin has joined our business broker team. Shelli brings to BizEx a solid background in business sales and acquisitions. She specializes in selling restaurants, retail, professional services, business services and the personal services industry. Shelli comes to BizEx with direct and unique experience working with small business owners. In addition to her experience as a business broker, she has over 15 years in local government providing business assistance and consultation in the areas of permitting, financing, expansion and transitioning of ownership. Her inside knowledge of permit processing for restaurants and liquor licenses is particularly helpful in the sale of restaurants and other businesses.
Arthur B. Kessler joins BizEx Business Brokers in Marina Del Rey
May 04, 2010 by Arthur Kessler
I am very happy to announce that in these difficult, changing times I am making a positive change with my business brokerage activity. I bring to BizEx more than forty years of successfully assisting people with the purchase and sale of businesses. I have sold businesses as diverse as car washes, mail centers, medical clinics, and manufacturing companies. My background includes law, finance, and government. I am a skilled negotiator and very persistent in the pursuit of the goals of my clients. As a BizEx Business Broker, I will provide all relevant services business owners and business buyers require to be successful in the buying and selling of a business including: valuing businesses, marketing and listing businesses for sale, the creation of Confidential Business Reviews, pre-qualification of businesses for SBA business acquisition loans, working with Buyers to identify acquisition targets in relevant industries and facilitating transactions.
