As a clear illustration of how smart our agents are trained, we recently closed a tough deal. The buyer was financially weak 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 a landlord wants.
So the agent look at the deal. The seller was a large restaurant owner with the power to dictate to landlords the terms of the lease. So the agent went to the lease to read it carefully.
The tenant was a corporation. There were no personal guarantee on the lease. And there was no transfer restriction either. WOW! Thought the agent.
So the agent goes to the buyer and says "here is a way to by-pass your weak credit issue. The seller sells you the stock of the company. We do a note for the loan he's going to give you and you assume all the accounts payable and the seller will indemnify you for any lingering liabilities if any."
Buyer loved it. Seller loved it. Deal done!
We're trained to find loopholes and make deals happen. So give us a shot!
We at SellingRestaurants feel obligated to educate the public, our customers and our clients with information that can help them make more intelligent buying and selling decisions.
Mel Jones is one of the premier restaurant brokers in the nation having published hundreds of articles on buying and selling a restaurant and bar business, selling thousands of restaurants in CA., WA and AZ and building one of the most copied business models in the brokerage industry. Mel started SellingRestaurants in 2004 with the one simple concept, give the buyers the information they need to make intelligent buying decisions without being pestered by a broker or hiding information, prepare the business for market by researching key details that make or break deals and educate the buyer on the buying process to create an intelligent buyer. Prior to SellingRestaurants, Mel was a Chief Financial Officer for Universal Music Group, the largest music company in the world. There he participated in more than $11.5 billion of merger and acquisition transactions. He also work for top companies such as Nestle Foods, USA. He hold a Bachelors in Business Administration Finance as well as attened Law School at Gonzaga University. Give Mel a call at 480.274.7000 or e-mail him at [email protected] if you have any questions.