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|
|Jeff Back, Broker: Restaurant Specialist - SF Bay Area
J. Back & Associates Restaurant Real Estate was founded in 1988 as the first bay area real estate company to specialize exclusively in restaurant real estate. I am the past President of Charley Browns restaurants and have been involved in the restaurant business for over 35 years. 925-736-8200.
|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.
|Joe Ranieri, Business Broker, Orange & LA County Areas
Having owned retail/restaurant businesses for over 20 years, my interest turned to listing and selling businesses rather than owning them. I specialize tend to specialize in Orange County high volume restaurants, fast food independents and chains, bars and liquor stores. Call 714-292-5448.
|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.
|Abdul Jobah, Business Broker, Central Valley, Kern County
As A Real Estate Agent, I offer my clients assistance with the sale or purchase of commercial properties and/or businesses. Please contact me if you are looking to sell or buy a Central Valley business. If at any time you have any questions please do not hesitate to call me at 661-703-3916.
|Bob Hughes: Business Broker, Palm Springs Area
Bob Hughes is a business broker & is President of Hughes Properties. Hughes has a wide variety of entrepreneurial experience with the personal ownership & sale of numerous businesses, and has sold over 200 small & mid-sized businesses in the Riverside County marketplace. Call Bob at 760-323-8311.
|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.
|Peter Siegel, MBA - SBA Loans, Non SBA Financing Assistance
For over 25 years I have provided niche business purchase financial advisory and loan placement services with SBA and Non-SBA Loans, Retirement Plan Conversions, Private Investors, etc. Financing amounts available: $20K to $7MM. Call today to get pre-qualified or receive financing: 866-270-6278.
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