For Business Sellers
Know When to Sell Your Restaurant and How to Price Your Business to SellWritten By: Mel Jones
Mar 1, 2013
All too often I see restaurant and business owners get crazy about getting "their money" back from the restaurant or business they've invested in. They get some crazy idea that someone is going to bail them out like the banks and auto manufacturers were bailed-out. Well it doesn't happen.
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MORE THAN ONE WAY TO SKIN A CAT!Written By: Mel Jones
Mar 8, 2013
As a clear illustration of how smart our agents are trained, we recently closed a tough deal. The buyer was financially wak in the sense he had saved $70,000 to buy a restaurant, but it was a BIG restaurant he wanted to buy. He had the operational experience to run it, but not the working capital nor the high credit score that this landlord would want.
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We Pride Ourselves On Being Thorough!Written By: Mel Jones
Mar 8, 2013
Today I was at a followup listing appointment at a pizza place in Gilbert Arizona. The seller are two men, one young the other middle age. Good guys! They bought the pizza business from me earlier this year. It was a pure asset purchase, or another way to say it a cost avoidance purchase, the aviodence of the cost of building one from scratch.
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SellingRestaurants Is Getting SBA Loans Done!Written By: Mel Jones
Mar 8, 2013
The other day I met a buyer. He's been looking at asset sales - typically businesses that are running but have or show no profit. These are turn-a-round opportunities and attractive for experienced restaurant operators to save big money on building restaurants from scratch.
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KNOW WHEN TO SELL YOUR BUSINESS!Written By: Mel Jones
Jun 12, 2012
You've heard the cliché "buy low, sell high" but we rarely take heed of such a cliché. Instead and for whatever reason, we ignore the signs that our business is in a decline. And before we know it, we've destroyed huge amounts of value by waiting too long to see the signs.
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Pssst........I've Gotta a SecretWritten By: Michael Pearson Attorney
Mar 4, 2013
If you are buying or selling a business, entering into a manufacturing or consulting contract, or in any way collecting or sharing information about a business, at some point in the discussions more information about the business will be shared than either party would want the general public to know.
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Okay, Swallow Your Ego! It is Better to Get Something Than Nothing For Your Restaurant or Bar!!Written By: Mel Jones
Mar 1, 2013
In the past 8 years we've sold more than 500 restaurants and we run across all sorts of restaurant owners who are in trouble with their business. If you are missing rent payments and you have vendors pounding on your doors, and missing payroll, it is probably already too late for you to try to sell. But if you sense you're on the edge and about to default on the rent and stop paying vendors or not make payroll, then be smart about selling.
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EXIT STRATEGIES FOR RESTAURANT BUYERS AND OWNERSWritten By: Mel Jones
Sep 13, 2012
As a restaurant broker who has been selling restaurants since 2003, I meet and talk to hundreds of restaurant owners each year, read hundreds of leases, review hundreds of tax returns and financial statements and I can't tell you how rare it is to see a well thought through exit strategy putting the restaurant owner in the front seat when selling or getting out of their restaurant obligations.
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SELLINGRESTAURANTS PRIDES ITSELF ON PROVIDING HIGH QUALITY SERVICES!Written By: Mel Jones
Dec 5, 2012
At SellingRestaurants, we pride ourselves on providing our client quality service. We thoroughly understand each of our clients needs and situation and we thoroughly understand their restaurant business....
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PREPARE YOUR RESTAURANT FOR AN INSPECTIONWritten By: Mel Jones
Dec 17, 2012
Today I'm reminded how critical it is to prepare your restaurant for a buyer's inspection. There are few things more critical during the early stages of a deal than making your restaurant shine and giving the buyer a great impression of what they are buying....
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BEWARE ARIZONA BUYERS of the UNETHICAL BROKERAGE HOUSES!Written By: Mel Jones
Jan 18, 2013
It is unfortunate that I have to write this article, but SellingRestaurants' has a fiduciary duty to educate consumers, making them aware of unethical business brokerage practices so as to avoid those brokerage houses that practice them. I can't tell you the names of those houses, but if you read and study the below information you can avoid what several of our clients have endure dealing with these unethical brokerage house, and there are several of these houses in the Phoenix area.
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WE'RE NOT SELLING A HOUSE HERE MARTHA!Written By: Mel Jones
Jan 29, 2013
The other day, I closed a deal in Sacramento, a Mexican Restaurant called Mas Mexican Restaurant in Roseville, CA. The owner of the restaurant, Randy Paragary, was talking to me during the closing and said "Mel, you earned every penny of your commission.
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BEING TOO CLOSE TO YOUR BUSINESS MAKES YOU BLINDWritten By: Mel Jones
Feb 4, 2013
Have you ever been too close to a situation that required action and in hindsight you wish you would've done it different or you wish you would've made a completely different decision? I know I have and in those cases I wish I would of had a good adviser next to me, and adviser with the experience and wisdom to help me through the situation.
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New Health Care Bill Destroys Business ValueWritten By: Mel Jones
Mar 1, 2013
The new health care bill passed by Congress and signed into law this week will single-handedly destroy billions of dollars of value for restaurant owners.
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The Gamblers Syndrome in the Restaurant BusinessWritten By: Mel Jones
Mar 1, 2013
As a retaurant broker I often get the honor of flying at 50,000 feet giving me a great view of the landscape and the nuances of the restaurant business. And over the years I've noticed restaurant owners and gamblers have a lot in common.
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WATCH THAT LEASE PLAN AN EXIT STRATEGYWritten By: Mel Jones
Mar 1, 2013
Setting yourself up for an exit strategy when you sell your business is paramount whenever entering into a new lease. But don't think that the other broker, who really represents the landlord, is going to design a lease with a good exit strategy. So you need to take care of yourself, or give us a call to help you.
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WHY USE SELLINGRESTAURANTS.COM TO SELL YOUR BUSINESS?Written By: Mel Jones
Mar 1, 2013
As a broker, I have we have a fiduciary responsibility to put your business in the best possible light and get you the highest possible price for your restaurant business. We take this duty serious. Most of the time we're right with commanding a higher price for your restaurant business and sometimes we're not.
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WHY USE A BUSINESS BROKER?Written By: Mel Jones, President SellingRestaurants
Aug 25, 2008
It sounds so simple, doesn't it? Just place an ad in the paper to sell your restaurant, find a buyer for your business and close the deal.
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ARIZONA BUYERS BEWARE!Written By: Mel Jones
Aug 28, 2012
There's a lot of good to be said about Arizona. It values personal freedoms and liberties as we can see in several sectors of our economy. This is good and this is bad for the restaurant sales businesses we sell. It is a buyer beware state.
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WE'RE GETTING SBA LOANS FOR OUR CLIENTS!Written By: Mel Jones
Aug 30, 2012
The banks have begun to open their coffers and start to lend, but of course they're a bit more picky than they were 5 years ago. Nevertheless, an experienced restaurant operator with good credit and plenty of cash down can get an SBA loan today.
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INVESTORS BEWARE OF A CLASSIC DEVELOPER SWINDLING TRICKWritten By: Mel Jones
Sep 23, 2012
SellingRestaurants has sold nearly 500 restaurants since 2004. In this time I’ve seen a lot of shady transactions and unethical business deals. One of the classic ones I’ve seen is where a developer builds retail space and then goes out an purchases a second rate franchise to place in the retail center.
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The Ethical Investor: Wall Street Ripoff #4 – Turning You Into a Passive InvestorWritten By: John R. Talbott
Sep 27, 2012
Investors can lose a lot of money, buying high and selling low, if they are very frequent and active traders. Trading costs and commissions alone can really eat into their profits as well as frequent trades that create big tax liabilities payable now rather than later.
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Best selling author of Survival Investing: The Ethical Investor: Wall Street Ripoff #3 – Hiding Fees and ExpensesWritten By: John Talbott
Sep 27, 2012
Before speaking about hidden fees and expenses, I’d like to take a moment to discuss the magnitude of the fees that Wall Street admits to and discloses for managing your money. There is no reason to delve into the world of hidden fees when stockbrokers, financial advisors and mutual funds admit in their own documents to charging clients as much as 1% to 2% per year for investing their money.
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CALIFORNIA HAS GONE EXTREME LEFT AND IT IS KILLING MY STATEWritten By: Mel Jones
Oct 3, 2012
I was born in California, Los Angeles to be exact. I grew-up in North Hollywood. For those who don't know, North Hollywood isn't the land of milk and honey. Its a rough neighborhood today and was back in the 60's and 70's. So I'm not some silver spoon guy whose parents paid for my college.
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Arizona Stands to Gain From New Laws in CaliforniaWritten By: Mel Jones
Nov 12, 2012
The November 6, 2012 election may not have gone the way the majority of Arizona’s would have liked, but there is a silver lining on those dark clouds that can benefit Arizona’s economy immensely.
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SELLINGRESTAURANTS REACHES 40,000 MEMBERSHIPSWritten By: Mel Jones
Nov 28, 2012
After 8 years of being in business, SellingRestaurants reaches a major milestone of 40,000 members. These are buyers and business owners who have joined our website to receive both educational information and listing updates.
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SELLINGRESTAURANTS GOES MOBILE!Written By: Mel Jones
Jan 17, 2013
SellingRestaurants becomes the first full service brokerage company to develop a mobile website for the convenience of its clientele.
"It is clear that our society is becoming more and more reliant on mobile devises to access the internet and surf the worl-wide-web looking to buy a business. At SelingRestaurants...
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CALIFORNIA’S LEGAL SYSTEM NEEDS REFORM - Article #1Written By: Mel Jones
Feb 10, 2013
Its unfortunate that I’m writing this article, but I’ve always been one that fights for reform and fights for doing what’s right. Our legal system in California is designed for attorney to maximize their income while stealing the income of hard working average Americans.
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New Landlord Accessibility Disclosure LawsWritten By: David Durrett
Feb 14, 2013
Beginning July 1, 2013, California Civil Code Section 1938 will require every commercial property landlord to state in its leases whether or not the property has been inspected by a Certified Access Specialist (CASp). The statute will apply to every commercial lease...
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Don't Hold a Dead Restaurant Business Too Long, It Will Not Only Stink, It Will Kill You Financially!Written By: By Mel Jones - President SellingRestaurants
Aug 21, 2012
In the past 8 years we've sold more than 500 restaurants and we run across all sorts of restaurant owners who are in trouble with their business. If you are missing rent payments and you have vendors pounding on your doors, and missing payroll, it is probably already too late for you to try to sell.
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HOW TO CREATE 10's OF THOUSAND OF JOBS IN CALIFORNIA!Written By: Mel Jones
Aug 28, 2012
When an economy is in recession, our politicians must get creative in order to help small business create jobs. On creative solution for California is to reduce the minimum wage for full service waiters at every restaurant in the state. Every restaurant owner knows that a server earns an hourly rate that is grossly higher than the minium wage in tips. I've heard average as low as $25/hour to as high as $400/hour depending on the restaurant. Nevetheless, the minimum is well about the state's minimum wage.
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IMPORTANT POINTS ABOUT SELLING A BUSINESSWritten By: By Mel Jones - President SellingRestaurants
Mar 17, 2008
Selling a business, particularly a restaurant, is a complex transaction that can't be appreciated until someone does it wrong and loses a deal because of it. So the first step is understanding all the important points. Here are the highlights of those points...
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SECURING A SELLER NOTEWritten By: Mel Jones
Aug 24, 2008
The financial markets are facing some of the most challenging times never seen before in generations, making buying a business a tougher proposition than just 18 months ago. During these times, lenders go to the extreme, as though their parent had just scolded them, and hunt for any possible reason to decline business purchase loans.
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WHY WOULD A RESTAURANT OWNER EVER OPERATE AS SOLE PROPIETORSHIP?Written By: Larry O'Shea of O’Shea & Associates, a Professional Law Corporation
Aug 28, 2011
There is a reason there are seatbelts and airbags in the cars we drive, that we buy insurance, wear helmets on bikes and motorcycles. We want to be protected...
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LEASE ASSIGNMENTS - WHAT EXACTLY DOES THIS MEAN?Written By: Joe Sandbank, Esq.
Dec 9, 2011
The purchase of a business almost always involves the buyer either obtaining a new lease or obtaining an assignment of the seller’s rights to the existing lease...
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CALIFORNIA MAKES BUSINESS SALES MORE DIFFICULT WITH RECENT POLICIES!Written By: Mel Jones
May 17, 2012
As if business wasn't tough enough in the Golden State, then comes the ABC and the BOE to make it tougher. As the State of California tries to grab revenue from any and every possible source, they hinder the business of selling businesses.
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What to Do if you Receive a Notice from the IRSAug 22, 2012
Receiving a notice from the Internal Revenue Service or other taxing authority can be a heart stopper, but this does not necessarily mean disaster is looming as in many cases the letter is merely asking for additional information based upon data they have received from other sources.
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QUALIFY A BUYER BEFORE GETTING INTO CONTRACT!Written By: Mel Jones
May 23, 2008
Qualifying a business buyer is key to successfully closing a deal. There are several variables at play when trying to qualify a business buyer and is nothing like trying to qualify a person to purchase a home.
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OPEN LISTINGS - SOUNDS GREAT UNTIL UNTIL YOU LOOK DEEPER!Written By: Mel Jones
Feb 3, 2012
"OPEN LISTING" It sounds great to a business owner who's listening to a broker say "hey, just sign here and there is no obligation unless we bring you a buyer..."
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