14 Mistakes When Buying and Selling Restaurants

Major changes are usually both thrilling and nerve-racking, and buying/selling a restaurant (or any business) is a big change.

Whether you’re the buyer or the seller, you’re probably excited about this new phase of life, but before you rush into anything, make sure to do your research. A little bit of caution now can save you a lot of pain later on. This is an important decision, and it pays to be careful.

Here are some ways to avoid mistakes when buying and selling restaurants.

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7 Secrets to Hiring Staff for Your Restaurant

Your new restaurant is nothing if you don’t have people to run it—cooks, dishwashers, waiters, chefs, etc. Hiring great staff for your restaurant is essential for providing your customers with a great experience.

Unfortunately, in an industry with more open positions than applicants and a notoriously high turnover rate, hiring the right employees is difficult, so here are some tips to help. (more…)

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Should I Sell My Restaurant Business?

The end of an era?

Maybe you’re ready to move on to the next chapter of your life. Maybe you want to cash out. Whatever the reason you’re considering selling your restaurant, you should take the time to evaluate your finances and to consider your options. Talk to your loved ones, and ask them for their advice. This isn’t an easy decision.

If you do decide to sell, the restaurant brokers at National Restaurant Properties can help, taking the hassle out of the process. Our website streamlines the process of buying and selling restaurants.

Here is a (non-exhaustive) list of reasons people decide to sell their restaurant. Perhaps this will help you decide whether to sell your restaurant business. (more…)

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Do I Have Enough Money to Buy a Restaurant?

Should you buy a restaurant? To some people, the answer is always, no. Too risky. They cite statistics saying that 9 out of 10 restaurants fail in the first year.

In reality, a study found that the actual failure rate is 17% for startups, 2% better than the other service-providing startups. (Others found a higher rate of 26%). Restaurants also last a median of 4.5 years.

While that’s a lot less than the 9 out of 10 statistic people commonly cite, those numbers are still high enough to give pause. Before you buy a restaurant you should take the time to consider your finances. Beyond just, “does this restaurant have good food,” you should ask, “Do I have enough money to afford this restaurant?” (more…)

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Downtown Greenville Restaurant & Bar – Unbelievably Low Rent

In the land of escalating rents, this downtown restaurant & bar has a lease through 2026 that is about $20PSF less than the downtown average. That’s right … the current rent on this place is under $13PSF in a market that is fetching close to $40PSF up and down Main Street. That equates to roughly $50,000 per year of bottom-line advantage that you can have over the entire downtown Greenville market. And this is a prime spot in the downtown Greenville market! (more…)

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Thinking About Selling? Plan Properly

There are numerous reasons that restaurant owners may decide to sell their business: retirement, burn-out and divorce are among them. But regardless, the owner must plan the sale properly or face major disappointment. “Grooming” a business to sale can mean the difference between selling at a considerable loss OR receiving a solid sales price for the restaurant. Too often, sellers are too busy with day-to-day house operations of the restaurant to take the basic steps necessary to put the facility in a saleable condition. (more…)

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Welcome To Our New Website

Welcome to our new website! We’ve been working hard to make our site more user friendly for buyers, sellers, and people just wanting to know more about what we do. We want to thank everyone for their patience throughout this long process. In addition to our customers and clients we would like to thank all of our franchisees for your continued support and input on the site–without you this wouldn’t be possible. (more…)

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Buyer’s Checklist

Checklists are handy prompts that keep us on track and make sure we don’t miss important appointments or neglect significant tasks. Buying a restaurant is a complicated process – and one of the most important decisions you’ll ever make – so a checklist to guide you through the process is a good idea.

And, we can help you structure that checklist. We know the myriad details involved in purchasing a food-service business. The following is a small sample of items that should be on a buying checklist: (more…)

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