The best place to start is with an expert restaurant broker who understands restaurants, bars and nightclubs - the type of business you want to buy. We Sell Restaurants specializes in putting restaurant buyers and restaurant sellers together. We can guide you through the process. We Sell Restaurants has a Restaurant Assessment Tool on our site that can help you answer key questions before you begin. This valuable tool helps you narrow down the type of restaurant you want. This helps you shape your commitment of time and money before you get started. Our qualified Business Brokers can also work with you over the phone or in person to qualify your needs.
You've already taken the first step by finding an industry expert like We Sell Restaurants. We have the knowledge and expertise to help you in your quest for the perfect restaurant. Call one of our brokers and prepare the materials below so you can meet with him or her in person to discuss the type of restaurant you want.
Prepare and bring your Financials
Many of our restaurant listings can not be shared unless you qualify financially for both the purchase and the lease. If you plan on borrowing money, you will need a personal financial statement for the bank. You can find the form on our website under Info or follow this link.
Review your Credit Score
Just as you wouldn't go shopping for a home without pulling a credit report; do an upfront review before buying a restaurant. Landlords are extending credit when you apply for a lease and they will pull your credit. Make sure you're in the best possible position to get the restaurant space you want.
Secure your Financing
If you plan to borrow money or use investor's money for the purchase of your restaurant, secure this ahead of time and set up a corporation where funds are deposited. You don't want to shop for a business only to find that people you are counting on won't follow through at the final hour.
What are some sources of financing for my restaurant?
There are a number of ways to finance your restaurant. Here are just a few examples.
Conventional Bank Loan or SBA Loan to finance your restaurant purchase
Lenders typically require three years of P&L's and Tax Returns to loan on a business. The process for an SBA loan is often very time consuming (three to four months) and the business must be under contract in order to begin the process. This is not the way to go if you're buying a business without pristine books and records.
Home Equity Loan to finance your restaurant purchase
Self finance your restaurant purchase through the equity in your home. Once you own the restaurant business you can often apply for a line of credit with the bank to pay yourself back or factor your credit card receiveables to generate a line of credit.
401K or Retirement Plans to finance your restaurant purchase
Borrow from Friends and Family to finance your restaurant purchase
Sell shares in your business to friends and family to raise capital for your purchase. Make sure you set up the correct paperwork and offer a fair return on their money.
What is the profile of most Restaurant Buyers?
Our restaurant buyers come from all walks of life. Some are retirees ready for a new adventure in life. Others are from corporate America and are looking for a restaurant business of their own where they are in control. Others have backgrounds or experience in the restaurant industry working for someone else. Some just have a dream about owning a restaurant and love the food industry.
We also have experienced owners looking to expand or introduce a new restaurant concept. Many Restaurant Managers or Chefs want control and freedom in their own business. Our buyers want unlimited opportunity and income levels that reflect their level of participation.
I found the perfect space for my restaurant. Can We Sell Restaurants help me with the landlord?
Yes. We are familiar with the requirements of the landlords and can help you pull together the right package to position your concept for success. This can include any or all of the following elements:
Our services are generally free of charge to restaurant buyers as we are compensated by restaurant sellers for our services.
I don’t have restaurant experience – Can We Sell Restaurants help?
We Sell Restaurants has access to a total resource base to help you in transitioning to business ownership. We have preferred relationships with restaurant consulting teams that can provide you services to get started. We negotiate training periods with our sellers to make sure you have the reins of the business clearly in hand before the transfer occurs.
We have developed long term relationships with virtually any resource you need for your restaurant. Click on the links below to visit these restaurant resources and get started.
Why should I use a Restaurant Broker instead of just finding something on my own?
1) Restaurant Valuation Skills. Using the services of a qualified broker can help you properly evaluate the Restaurant Business you are purchasing and its potential for growth.
2) Restaurant Knowledge of Market Conditions We Sell Restaurants so we know the market. We know which restaurants are offered for sale and listings are generally confidential. Our brokers are professionals, up to date on dining trends in the marketplace and current leasing rates. Our relationships and contacts in the communities we operate in allow us to know what restaurants are on the market, which restaurants are about to come on the market and which restaurant is available for re-sale.
3) Restaurant Experience Our only business is restaurants and we have seasoned veterans that know how to help you avoid the pitfalls that could be associated with purchasing a business.
How can I get access the most up to date listings of restaurants for sale?
www.wesellrestaurants.com is the premiere web presence for the purchase and sale of restaurants. Our listings are always updated. You can search by type of listing or geographic area. If you want up to the minute notification of listings – sign up to receive our latest listings – we’ll make sure you are the first to hear about an opportunity.
Why do I have to sign a Confidentiality Agreement to learn which restaurants are for sale?
We carefully protect the confidentiality of our restaurant clients, marketing their restaurants aggressively while safeguarding their privacy. In order to learn the name of any restaurant offered, you must agree not to disclose this information to any other person. Sign the legal document on our website.
I’m planning to buy a franchise – why would I need the services of a restaurant brokerage firm like we sell restaurants?
We Sell Restaurants can serve as an independent consultant. We know which concepts are succeeding in the marketplace. We provide unique value in negotiation either with the franchise or assisting in site locations and leasing.
I’m interested in a restaurant outside of the Atlanta and Florida can you help?
We have offices in Atlanta, Georgia and Central Florida and South Carolina. We are opening soon in Alabama and North Carolina. We can consult with you on restaurants for sale outside these areas and use our contacts in the industry to assist you almost anywhere nationwide.
I am interested in a restaurant I saw listed with another restaurant broker. Why shouldn’t I work directly with him?
The broker listing the restaurant in this example represents the seller. Our team would represent your interest in this restaurant purchase.We maintain valuable relationships with other brokers for this reason. We belong to organizations like the Georgia Association of Business Brokers and the Business Brokers of Florida so we have access to all the listings in the marketplace whether they are ours or not. It is entirely customary to have one broker representing the seller and another representing the buyer. This is known as a co-broker situation. We welcome the participation of other brokers and negotiate frequently on this basis.
What's an E-2 Visa and how can buying a restaurant qualify me for this?
The E-2 visa allows foreigners who have made substantial investments in the United States to relocate to the U.S. in order to develop and direct the business operation established by their investments. The E-2 visa may be suitable for those who wish to invest a significant sum of money in order to either purchase an existing business or set up a new business. Because of the complexities of investing in a U.S. business, it is highly advisable to seek competent legal advice on the types of investments that may qualify for an E-2 visa. We Sell Restaurants has experience in assisting individuals in locating businesses that qualify for E-2 visas.
How do I find out about restaurant liquor license requirements?
Click on the Links below to go to Florida and Georgia Liquor License Information
