SO YOU WANT TO BUY - HOW TO BUY A RESTAURANT
May 13, 2011
There isn't a day that goes by where many business buyers call me wanting to purchase a restaurant or bar yet they have no idea where to or how to start. Learn how to buy a restaurant.
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SUCCESSOR LIABILITY WHEN BUYING A RESTAURANT IN CALIFORNIA
Jun 20, 2011
A major concern of anyone buying a business should be whether or not they will be exposed to any of the seller’s liabilities.
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New Obamacare Investment Tax
Aug 13, 2012
The Patient Protection and Affordable Care Act (ACA) affirmed by The Supreme Court includes certain income tax provisions to help pay for what has become known as Obamacare.
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INVESTORS BEWARE OF A DEVELOPER SHELL GAME
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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Wall Street Ripoff #4 – Turning You Into a Passive Investor
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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Wall Street Ripoff #3 – Hiding Fees and Expenses
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...HURTING RESTAURANT SALES
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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BROKERS MUST EMBRACE THE INTERNET
Nov 7, 2012
10 years ago I was laid-off as a Chief Financial Officer of Universal Music Group’s internet technology divisions, after nearly ten years in the entertainment business...
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GOLF GAME BETWEEN MOSES AND JESUS
Nov 15, 2012
Moses and Jesus were playing golf and they had a third wheel playing with them. Moses walks to the tee box - and being that's he a bit old swung and hit the ball...
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CAVEAT EMPTOR...BUYER BEWARE!
Nov 27, 2012
All too often I get calls from buyers who don’t understand the dangers of venturing into buying a restaurant business without using a professional restaurant broker. Unfortunately, we’re often and wrongly categorized with general real estate agents or even general business brokers...
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SELLINGRESTAURANTS REACHES 40,000 MEMBERSHIPS
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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CELL PHONE ETIQUETTE
Dec 12, 2012
After a tiring day, a commuter settled down in her seat and closed her eyes. As the train rolled out of the station...
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SELLINGRESTAURANTS GOES MOBILE!
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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WHERE WHITE MAN WENT WRONG
Feb 3, 2013
Indian Chief "Two Eagles" was asked by a white U.S. gov't official "you have observed white man for 90 years. You've seen his wars and his technological advance. You've seen his progress and the damage he's done."
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GAY MARRIAGE AND MARIJUANA
Feb 3, 2013
Gay marriage and marijuana were both legalized on the same day last week in some States.
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THE OUTDOORSMAN!
Feb 4, 2013
During my annual physical examination, my doctor asked me about my physical activity level. I described a typical weekend day this way:
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CALIFORNIA’S LEGAL SYSTEM NEEDS REFORM - Article #1
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 Laws
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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Switzerland signs Tax Disclosure Agreement with IRS
Feb 15, 2013
The Long Arm of the IRS is reaching out Worldwide!
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Switzerland and the United States have signed a tax treaty in which Swiss banks will disclose information about U.S. account-holders. The agreement is the latest in a series between the United States and other countries designed to carry out the Foreign Account Tax Compliance Act, or FATCA, enacted in 2010.
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BUYING A RESTAURANT, NOT AN EASY TASK!
Mar 17, 2008
There's a reason why buying a restaurant, bar or club is referred to as a buying process. Each deal has its own unique personality and each with new challenges.
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WHAT DOES BULK SALE MEAN?
May 11, 2008
HISTORY
About the turn of the 20th century communication systems and travel made it difficult for creditors to thoroughly check debtor's credit history. Traveling distances between the sales office and debtor made it difficult to visit each customer to check up on them on any regular basis. What seems like a small distance today of 50 miles was a 2 day trip 100 years ago. So visits from creditor were far and few between.
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KEEP THE MONEY IN YOUR COMMUNITY
Oct 8, 2009
How often do you go to chain restaurants like B.J.'s, Mortons, PF Changs, Claim Jumpers or chain retail stores like Safeway, CVS, Wallmart, Costco and whatnot? Did you know you could help your local economy...
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HOW BADLY DOES CALIFORNIA TREAT SMALL BUSINESS?
Nov 5, 2010
People I speak to about California's unfriendly small business environment are often shocked to discover what that state puts small business owners through...
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EVERY DAY IN THE LIFE OF A RESTAURANT BROKER...
Aug 13, 2012
This deal has gotten hairier and hairier by the day. Now I want you to know that in the beginning, the buyers HAD TO sign the purchase contract on the Koran. Ok? I kid you not. Every sheet of paper, signed three times had to be placed on the book.
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YOU TIRED. THEN SELL YOUR RESTAURANT NOW!
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 THOUSANDS OF CALIFORNIA JOBS NOW!
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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California Enacts Qualified Purchasers Act
Nov 18, 2009
With ongoing budgetary problems California has enacted a Use Tax registration requirement which applies to any business within the State of California who is defined within the act as a qualified purchaser...
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ARIZONA RESTAURANT BUYER'S BEWARE!
Jul 25, 2012
There are a lot of great points about doing business in a state that, compared to most states, is business friendly, but there are risks that one must know before buying a business in Arizona.
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THE GREAT COMMUNICATOR...
Aug 27, 2012
Great communicators are not all cut from the same cloth. But they all share the ability to connect. That does not develop by accident. You cannot expect to succeed through dumb luck, as did the leader of a wagon train of pioneers that was heading across the Western Plains.
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SBA LOANS FOR RESTAURANTS - HOW TO QUALIFY
Apr 24, 2008
In recent months, the federal reserve bank has drastically reduced interest rates which has in turn reduced the prime rate. The prime rate is the basis banks use to determine the interest rates charges to borrowers. Most SBA interest rates are prime + 1% to 2.5%. Today's (April 2008) prime rate is 5.25%, down from 8.25% a year ago...
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DEFER YOUR RESTAURANT SALE GAINS
May 9, 2008
Business sellers, real estate or other property* can now perfect a cash sale while enjoying tax-deferred advantages of an installment sale, but without the financial risk of unsecured payments!
Whatever the reason, retirement, starting a new business, staying on with the new owner under an employment contract or selling real estate, the Structured Sale is for many, the best alternative to paying a huge sale year tax bill...
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SECURING A SELLER NOTE
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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IT'S THE DARKEST JUST BEFORE DAWN
Oct 4, 2009
Perhaps you've heard it before "it's the darkest just before dawn." This phrase is used to describe the hope that is coming after a period of hopelessness. Times where it seems the world is ending; where fear paralyzes the masses and stops them in their tracks while the masses, like sheep, follow their fear sheppard to the wolves.
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BUY AMERICAN. I AM.
Mar 6, 2009
THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
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IS RESTAURANT BUYING SEASONAL?
Aug 22, 2008
I'm often asked if there is seasonality to the buying and selling of restaurants. The answer always surprises many people...
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LEASES FOR RESTAURANTS ARE COMING DOWN
Jan 6, 2009
The tide has changed in the retail rental market. Rents are coming down and at a fast pace.
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Stimulus bill aims to boost SBA lending
Jan 28, 2009
The initial House version of the economic stimulus bill would give the Small Business Administration $430 million to revive its ailing loan programs.
The bill would increase the government guarantee
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DON'T GUARANTEE THAT LEASE!
Jan 28, 2009
Leases can be huge liabilities for restaurant owners. Most leases are personally guaranteed by the tenant. This means, the tenant guarantees the rent will be paid through the whole term of the lease, even when the business is closed and not making money.
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LOOKING TO GET A VISA TO ENTER THE U.S.A.?
Aug 29, 2011
The low valuations for US. businesses and the weak dollar has led to a hot market for foreign investors to buy businesses which if purchased through the immigration laws could lead the foreign investor to getting a green card. Generally, there are two types of visas EB-5 and E-2.
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LET US FIND A RESTAURANT FOR YOU TO BUY
Aug 29, 2011
If you're frustrated with the business brokerage industry as I was, then you've got hire us to find you a business and to represent you in the purchasing process.
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2010 Jobs Act Information Reporting for Rental Expense
Feb 23, 2011
The Small Business Jobs Act of 2010 (2010 Jobs Act) requires information reporting for rental property expense payments of $600 or more....
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Internal Revenue Service unleashes
Feb 23, 2011
The Internal Revenue Service has set up special audit groups focused to audit business taxpayers with complicated tax returns, and their complicated financial arrangements...
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IRS Targeting High Income Taxpayers
Mar 28, 2011
As promised by the current elected administration in what appears to be an economic profiling by the Internal Revenue Service in a society....
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SBA expands Commercial Real Estate Refinancing
Mar 30, 2011
WASHINGTON, D.C. –Small business owners with eligible commercial real estate mortgages maturing after Dec. 31, 2012, will be able to secure more stable...
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HOW CALIFORNIA CAN STREAMLINE BUYING RESTAURANTS
Sep 27, 2011
Before the economy took a dive, closing restaurant and bar deals in California would typically take 60 to 120 days. If it was a simple deal, perhaps 40 days. If it was a complex deal that included an SBA Loan and or a franchise, perhaps it was 4 to 6 months.
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LEASE ASSIGNMENTS - WHAT EXACTLY DOES THIS MEAN?
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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CELL PHONE RANSOM - A THEFT GONE WRONG
Mar 15, 2012
Today I met a client in Mid-Town. If you know mid-town Sacramento, there are parking meters everywhere. So he had to pull some quarters out of his pocket and in doing so he placed his cell phone on the top of the central time ticket machines. He forgot it.
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FACTS ABOUT THE ALTERNATIVE MINIMUM TAX
Mar 12, 2012
The Alternative Minimum Tax (AMT) was the misbegotten attempt on the part of Congress to ensure that anyone who benefits from certain tax advantages pays at least a minimum amount of tax, in other words, the flat tax for the so called wealthy.
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CALIFORNIA POLICIES MAKE BUYING A RESTAURANT CHALLENGING
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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WATCH OUT FOR THAT LEASE!
Jul 9, 2012
I was talking to a property manager in the Sacramento region about a foreclosure that is talking place on one of his properties where we had several lease space listings we were trying to fill.
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What to Do if you Receive a Notice from the IRS
Aug 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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OBAMACARE TAX STARTS JANUARY 1, 2013!
Aug 28, 2012
The Patient Protection and Affordable Care Act and the Health Care and education Reconciliation Act of 2010, otherwise as it has become known as Obamacare imposes a 3.8% Medicare contribution tax on all net investment income of higher-income individuals as of January 1, 2013
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FINANCING A RESTAURANT PURCHASE
Mar 6, 2008
Thinking about buying a restaurant or retail business but you only have 10-20% down payment? You’ll be glad to hear SBA interest rates have dropped significantly in the past few months making a business purchases..
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IMPORTANT POINTS ABOUT BUYING A RESTAURANT
Mar 17, 2008
SellingRestaurants AGENCY RELATIONSHIP: SellingRestaurants represents Sellers. Anything the Buyer gives or tells the Agent, assume our Seller receives the same.
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RETAIL BUSINESS SALES WEBSITE LAUNCHED
May 11, 2008
SellingStores was launched in October 2007 when the the founder of SellingRestaurants, Mel Jones, noticed many of the SellingRestaurants buyers who where not so much interested in only buying a restaurant, bar and club...
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UNDERSTANDING RETAIL LEASES
May 21, 2008
A lease is an agreement granting use or occupation of real property during a particular period in exchange for a specified rent. At common law, the lease was traditionally regarded as a conveyance of interest in land, subject to the doctrine of caveat emptor ("let the buyer beware").
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QUALIFY A BUYER BEFORE GETTING INTO CONTRACT!
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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HOW TO SECURE A BUSINESS LOAN
May 23, 2008
As the financial markets change for buying a business and lenders increase the qualification requirements for business buyers, there is a drift toward the seller's replacing the banks in terms of financing the business purchase.
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