Joe Ranieri, long time Orange County Business Broker and restaurant specialist chats with Peter Siegel on a BizBen Podcast about the nuances of buying and selling restaurants in Southern California. 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|
|Rick Carlson, Business Broker - Southern California
You Will Never Feel Lost In The Shuffle. Many Brokers Simply Send Out An NDA And That's The End Of Communication. All Buyers Receive A Personal Meeting With An Ace Acquisition Specialist So They Can Recommend The Perfect Business For You. Phone Rick direct at 800-985-4939.
|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.
|Mike Brewer: Liquor License Brokers, ABC Consulting Services
Liquor license brokerage and consulting services. We provide: Alcohol License Transfers Application Consulting & Processing, Liquor License Purchases & Sales, City Zoning Permits & Land Use Entitlements, Public Convenience or Necessity Findings and Letters. Phone Mike Brewer direct at 800-437-1100.
|Cheryl Maloney: Restaurant Broker Specialist - San Francisco
Cheryl is a business owner herself, Over 20 years bar/restaurant experience, and a law degree she's well-versed in real estate rules, regulations and best practices. She works tirelessly to create successful strategies and effective negotiations for those wishing to sell or purchase their business.
|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.
|AJ Rana - Business Broker, San Francisco Bay Area
Professionals who understand the importance of world class business brokerage service and the value it can create. Specializing in assisting sellers and buyers with retail stores, restaurants, hospitality & lodging, manufacturing operations, distribution companies, e-commerce and service businesses.
|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.
|Ken Oppeltz, Business Broker, San Diego County
We have been San Diegos premier business broker and merger and acquisition specialist since 1989. Staffed with some of the best-qualified and most experienced business brokers in the industry, our professionals have all earned or are candidates for the Certified Business Intermediary (CBI).
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