Joe Ranieri, long time Orange County Business Broker and restaurant specialist chats with Peter Siegel on the BizBen Podcast & Vlog about the nuances of buying and selling restaurants in the Orange County, California area. Joe gives listeners some great perspective on how to buy a restaurant successfully.
We discuss and answer these questions in this informative and fun Podcast:
How long have you been a business broker?
What was your experience in dealing with business brokers when you were a business owner?
How has standards and practices of business brokerage changed over the years?
What made you think that you could be a business broker after you had once been a business owner?
How did you originally find new business when you started out?
What advice would you give to someone starting out in the business brokerage business?
How has selling a business changed over the last 10 years?
What percentage of franchise stores, corporate stores vs independents in there in the Orange County area?
What is the average sales price for a restaurant in Orange County?
How has the average sales price changed, since the financial crisis of 2008?
What type of restaurant typically sales in Orange County? Mexican, sushi, Korean, Deli, etc.?
Have you seen any trends over the last few years? People converting restaurants to a specific type of cuisine, because of popularity?
What is the average amount of time it takes to sell a restaurant in Orange County?
What is the typically ratio of list vs sells?
I’ve heard landlords in Orange County can be tough to work with, has that been your experience?
Is it easier working with a big management company or small independent landlord?
What are the typical lease terms in the Orange County area?
What questions do you ask a prospective seller of a restaurant when first meeting with them?
After all these years, can you get a good idea of which restaurant businesses will sell and which ones won’t when you initially meet with a seller?
Can you briefly describe the due diligence process when selling or buying a restaurant?
What percentage of the time do you represent both buyer and seller, duel agency?
What do you do, especially during the negotiating period and due diligence to remain impartial to both parties?
Have you seen an up tic in buyers being more litigious after a business transaction closes? What steps do you take to protect the buyer/seller/yourself during the transaction from liability?
What’s the typically amount of money you want to from a buyer to open an escrow?
What percentage of your business sales involve working with ABC?
When a buyer wants to do a conversion of one food type to another, what steps do you advise them to take when dealing with a landlord? (Business plan, mock menu, etc.)
What percentage of business escrows do find never end up closing, and why?
How important is curb appeal when selling a restaurant and what steps can a seller take to improve their chances of the business selling?
How often does the buyer in Orange County purchase the land as well as the business?
If you have more questions for Joe after listening to this educational and fun interview please phone him direct at 714-292-5448.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Matt Sadati, Business Broker, SF Bay Area, Northern CA
I have Engineering and Law, JD degree, with over 30 years of experience in all phases of entrepreneurship. During the past 15 years my concentration has been in business of mergers and consulting. I have owned and operated over 33 businesses each having one to 30 branches.
|Ron Hottes, Broker - Serving LA, Orange, Inland Empire Area
LINK Business is a business brokerage team of 28 highly skilled and seasoned professionals. Our business brokers have over 100 years of cumulative experience & the expertise to help you buy or sell a business in the LA County, Orange, Inland Empire areas. Call Ron for a consultation at 310-539-8300.
|Harry Sidhu, CBB, Broker - SF Bay Area, Central Valley, SAC Region
Assisting both sellers and buyers of businesses - dealing mainly with Liquor Stores, Grocery Markets, Gas Stations, Smoke Shops, Restaurant Related, Retail Related, Service Related. Serving SF Bay Area, North Bay, Sacramento area. Call Harry Sidhu, CBB for assistance at 510-366-6130.
|Jack Oh, Business Broker - LA, Orange Counties
Business broker and real estate services in the Los Angeles and Orange County areas. 10 years experience with great negotiating skills. To sell a business or buy a business in the LA or Orange County Areas phone Jack and his team at 562-787-4989.
|Michael Floorman, Business Broker, BTI, San Francisco Bay Area
Business Team, San Jose (Campbell) located in the Pruneyard Towers at Bascom and Hamilton. Established in 1981 Business Team with over 6600 sales to date has 1000 business listings to choose from, paid Google advertising. We offer highly trained and experienced professionals.
|Michael Davidson, Business Broker - Southern California
Los Angeles Business Broker providing M&A quality services for Small Business Owners. We leverage our technology and expertise to Simplify & Expedite the Business Sales Process. Matching the right buyer with the right business is how we define success.
|William Park, Business Broker - Southern California
Highest Volume Broker in California, Simply Check our HUNDREDS of Listings! Over 25 Associates, Speaking Dozen Languages, Helping Buyers and Sellers of Small Business since 1982, Centrally Located between Los Angeles and Orange Counties, while Riverside & San Bernardino Counties are Very Accessible.
|Manjit Singh: SF Bay Area - Business Intermediary
Assistance in the San Francisco Bay Area. Contact me about buying or selling a restaurant, liquor store, gas stations, markets, and c-store businesses. If you are looking to buy or sell a SF Bay Area liquor store, market, c-store, restaurant, etc phone me direct at 510-417-9429.
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