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.
|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.
|Chris Seaman, Business Broker - San Diego County Area
Founded in 1994, First Choice Business Brokers has accelerated to become one of the most successful Business Sales Organizations in the world. Our team of agents have gone through extensive training to become experts in the field of business brokerage. Call Chris at 858-578-4111 for more info.
|Jim Saxton, Liquor License Broker & Consultant - SF Bay Area
With over 20 years experience of local governmental requirements, such as Police Departments, Zoning / Planning Departments, and ABC District Offices, my company Liquor Licenses of San Francisco Bay Area is very qualified to resolve all of your concerns during the liquor license transfer process.
|George Lanza, Business Broker, At Plethora Business Sales
Plethora Businesses, a division of A Premier In Services, Inc., is a Business Intermediary Consulting Firm headquartered in Orange, California. Plethora specializes in the listing and sale of small and medium sized private businesses.
|Timothy Cunha, JD - Business Broker, SF Bay Area
I am an experienced entrepreneur, attorney, & business professor. I & my EvergreenGold® team offer business owners sound advice & expertise to build business value & achieve profitable sales. Call me today for a FREE business evaluation & SWOT analysis for your business anywhere in the USA.
|Lee Petsas, Business Broker - Orange, San Diego Counties, Inland Empire
UBI Business Brokers has been successfully selling businesses in Southern California since 1965. Our Agents have over 100 years of experience in selling small to medium size businesses throughout Southern California. We service Orange County, Inland Empire, San Diego. Phone Lee at 714-363-0440.
|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.
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