Just when you think you've seen it all. I've always said some producer should make a reality show out of the restaurant brokerage business from the eyes of a broker with all the crazy things that happen to us.
So last week I inked a great restaurant deal for a place in Old Sacramento. It's a large restaurant with about 10,000 Sq. Ft. It has an street-level dining area and a basement level cooking area, offices, and banquet room. The restaurant is in great shape. The new tenant was perfect for the space with EXACTLY the right concept.
So we're moving the clsoing process along - as fast as one can given the darn state agency ABC is at a stand still unti mid-June, and the wife of the buyer discovers the restaurant was on one of those ghost hunter programs! Here is the link to the program article be amused by reading it:
http://www.sacramentopress.com/headline/18187/THE_BRICKSIDE_RESTAURANT_IN_OLD_TOWN_SACRAMENTO
The wife obviously gets concerned and one can certainly understand it if one believes in this sort of stuff. Of course, now the deal is put on hold until she can determine what percentage of the story is PR versus real.
A Crazy world!
Check us out at www.sellingrestaurants.com
Showing posts with label business sales; sel my restaurant; sell my bar; restaurants for sale; bar for sale. Show all posts
Showing posts with label business sales; sel my restaurant; sell my bar; restaurants for sale; bar for sale. Show all posts
Monday, August 30, 2010
Thursday, November 5, 2009
How the Government Politicians Use Panic Syndrom Against Us
Here is yet another example of how politicians use a crisis to gain position on issues they know would never pass under normal circumstances, just as what happen with TARP and the stimulus package. We Americans have to stop this abuse by the politicians who are running up un-godly deficits, killing small business, and capitalism while doing it.
House Bill Would Assure Workers Paid Sick Days
By STEVEN GREENHOUSE
Published: November 3, 2009
In an effort to rein in the spread of the H1N1 flu, Representative George Miller, the chairman of the House Education and Labor Committee, introduced legislation on Tuesday that would guarantee five paid sick days for workers sent home by their employers with a contagious illness.
Mr. Miller, Democrat of California, voiced concern that more than 40 million workers did not have paid sick days and that many workers coming into contact with public — like restaurant or school cafeteria employees — would go to work with H1N1 and spread the virus if they could not afford to stay home.
According to the Bureau of Labor Statistics, 39 percent of all private-sector workers do not receive paid sick days, while among the bottom 25 percent of wage earners, 63 percent do not.
“Sick workers advised to stay home by their employers shouldn’t have to choose between their livelihood and their co-workers’ or customers’ health,” Mr. Miller said. “This will not only protect employees, but it will save employers money by ensuring that sick employees don’t spread infection to co-workers and customers.”
Under Mr. Miller’s, proposal, which he called “emergency temporary” legislation, workers would be guaranteed the five paid days if their employers sent them home or advised them to stay home or go home.
Under the bill, called the Emergency Influenza Containment Act, workers deciding to stay home on their own, asserting that they are sick, would not be guaranteed paid sick days.
The Centers for Disease Control estimates that a sick employee reporting to work would infect 1 in 10 co-workers.
Business groups have opposed legislation requiring paid sick days, calling them expensive employer mandates for something workers and their bosses can usually work out.
The bill would apply to businesses with 15 or more employees. Under the proposed legislation, workers who follow their employer’s direction to stay home because of contagious illness cannot be fired, disciplined or retaliated against for staying home. The bill would take effect 15 days after being signed and would expire after two years.
Mr. Miller said that he planned hearings the week of Nov. 16. “We would like to move it to the floor as soon as possible,” Mr. Miller said in a telephone news briefing. “The influenza isn’t waiting for the legislative calendar.”
Robert J. Blendon, a professor of health policy at Harvard, said that if millions more people contracted H1N1, many workers living paycheck to paycheck and not receiving paid sick days could face a financial crisis if they or their children contracted bad cases that forced the parents to miss work for one or two weeks.
The bill is co-sponsored by Representative Lynn Woolsey, a California Democrat who is chairwoman of the labor committee’s Workforce Protections Subcommittee. “This bill will ensure that workers who are directed to stay home by their employers can do so without paying a financial penalty,” she said.
In May, Senator Edward M. Kennedy, the late Massachusetts Democrat, and Representative Rosa DeLauro, a Connecticut Democrat, introduced bills in the Senate and House that would guarantee seven paid sick days to all workers at businesses with 15 or more employees.
Check us out at www.sellingrestaurants.com
House Bill Would Assure Workers Paid Sick Days
By STEVEN GREENHOUSE
Published: November 3, 2009
In an effort to rein in the spread of the H1N1 flu, Representative George Miller, the chairman of the House Education and Labor Committee, introduced legislation on Tuesday that would guarantee five paid sick days for workers sent home by their employers with a contagious illness.
Mr. Miller, Democrat of California, voiced concern that more than 40 million workers did not have paid sick days and that many workers coming into contact with public — like restaurant or school cafeteria employees — would go to work with H1N1 and spread the virus if they could not afford to stay home.
According to the Bureau of Labor Statistics, 39 percent of all private-sector workers do not receive paid sick days, while among the bottom 25 percent of wage earners, 63 percent do not.
“Sick workers advised to stay home by their employers shouldn’t have to choose between their livelihood and their co-workers’ or customers’ health,” Mr. Miller said. “This will not only protect employees, but it will save employers money by ensuring that sick employees don’t spread infection to co-workers and customers.”
Under Mr. Miller’s, proposal, which he called “emergency temporary” legislation, workers would be guaranteed the five paid days if their employers sent them home or advised them to stay home or go home.
Under the bill, called the Emergency Influenza Containment Act, workers deciding to stay home on their own, asserting that they are sick, would not be guaranteed paid sick days.
The Centers for Disease Control estimates that a sick employee reporting to work would infect 1 in 10 co-workers.
Business groups have opposed legislation requiring paid sick days, calling them expensive employer mandates for something workers and their bosses can usually work out.
The bill would apply to businesses with 15 or more employees. Under the proposed legislation, workers who follow their employer’s direction to stay home because of contagious illness cannot be fired, disciplined or retaliated against for staying home. The bill would take effect 15 days after being signed and would expire after two years.
Mr. Miller said that he planned hearings the week of Nov. 16. “We would like to move it to the floor as soon as possible,” Mr. Miller said in a telephone news briefing. “The influenza isn’t waiting for the legislative calendar.”
Robert J. Blendon, a professor of health policy at Harvard, said that if millions more people contracted H1N1, many workers living paycheck to paycheck and not receiving paid sick days could face a financial crisis if they or their children contracted bad cases that forced the parents to miss work for one or two weeks.
The bill is co-sponsored by Representative Lynn Woolsey, a California Democrat who is chairwoman of the labor committee’s Workforce Protections Subcommittee. “This bill will ensure that workers who are directed to stay home by their employers can do so without paying a financial penalty,” she said.
In May, Senator Edward M. Kennedy, the late Massachusetts Democrat, and Representative Rosa DeLauro, a Connecticut Democrat, introduced bills in the Senate and House that would guarantee seven paid sick days to all workers at businesses with 15 or more employees.
Check us out at www.sellingrestaurants.com
Thursday, October 22, 2009
BizBuySell.com Third Quarter 2009 Data Signals Improving Business-for-Sale Market
Business-for-sale transactions begin to increase after hitting bottom in recent months
San Francisco, CA - October 6, 2009 - BizBuySell.com -- the Internet's largest marketplace for buying or selling a small business -- today released economic data for the third quarter of 2009. After multiple quarters of declining business-for-sale transactions, the new numbers suggest that the state of the small business economy is finally beginning to improve.
BizBuySell.com's new Third Quarter 2009 Insight Report shows a 24% year-over-year drop in closed small business transactions. While still lagging behind year-ago transaction numbers, BizBuySell.com's previous report -- which included data for the second quarter of 2009 -- showed a dramatic 50% decline in closed business-for-sale transactions when compared to the same time period in 2008. Closed transactions are reported to BizBuySell.com by business brokers nationwide.
BizBuySell.com's quarter-over-quarter data also supports the rebound in the business-for-sale marketplace. The number of closed transactions reported in the third quarter increased by 7.4% as compared to second quarter transactions. Just one year earlier, when the recession was hitting its stride, that same quarter-over-quarter statistic dropped 30%.
"After many bleak months for the small business-for-sale economy, the market seems to have hit bottom and is fortunately now beginning to turn around," says Mike Handelsman, General Manager of BizBuySell.com. "As credit eases, business fundamentals recover and SBA lending criteria change with respect to goodwill, we are optimistic that the fourth quarter of this year and the first quarter of 2010 will show increased signs of recovery and growth."
Closed Transactions Increase as Pricing Drops
BizBuySell.com's third quarter data suggests that business sellers are dropping their prices, which is making it possible for more deals to close. For example, the median sale price for closed transactions fell to $149,000 from $189,500 year-over-year, a 21.4% decline in price.
The metrics used to value companies have seen a similarly dramatic downward trend. Revenue multiples on reported closed transactions dropped 9.6% to .62 in the third quarter of 2009, and cash flow multiples dropped to 2.44, a 12.2% year-over-year decrease. The revenue and cash flow multiples are calculated by dividing the selling price of the business by its reported annual revenue or cash flow.
"These year-over-year price declines are dramatic, and suggest there are good deals out there for potential business buyers," says Handelsman. "With unemployment at record high levels, and SBA lending loosening beginning in Q4, this decrease in pricing and valuation numbers has made the prospect of purchasing a business much more achievable to buyers."
Business Brokers Optimistic About Business-for-Sale Transactions
A recent BizBuySell.com survey of business brokers around the country similarly revealed that they are positive about the future of small business transactions:
34% of business brokers reported expecting to close their next deal within the next few weeks.
75% of survey respondents expect to close their next small business transaction within the next three months.
47% of survey respondents believe small business transaction levels will not fall any further than they were during the second quarter of 2009, which leads 78% of survey respondents to believe that business-for-sale transactions will begin to increase again before Q2 2010.
For more information on the BizBuySell.com Third Quarter 2009 Insight Report, visit http://www.bizbuysell.com/news/media_insight.html.
About BizBuySell:
BizBuySell.com is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell.com currently has an inventory of over 47,000 businesses for sale, and more than 700,000 monthly visits. BizBuySell.com also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories.
BizBuySell.com was founded in 1996 and acquired by LoopNet, Inc. in 2004. LoopNet operates the largest commercial real estate listing service online, with more than $500 billion of property listed for sale and 5.7 billion square feet of space for lease. With over 3 million members, LoopNet attracts the Internet's largest community of commercial real estate professionals. For more information, visit www.bizbuysell.com.
Media Contact:
Frank Krolicki Walker Sands Communications office: (312) 546-4127 email: fkrolicki@walkersands.com
Return to Media Releases
Let us serve as expert sources for you on buying a business, selling a business, valuing a business and small business trends. Email us here or call Mike Handelsman at 415-284-4380
BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service.
Buy a Biz
Sell Your Biz
Find a Franchise
Value a Biz
Find a Broker
For Brokers
try
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var pageTracker = _gat._getTracker("UA-735942-1");
pageTracker._setDomainName("bizbuysell.com");
pageTracker._trackPageview();
}
catch (err)
{
}
Check us out at www.sellingrestaurants.com
San Francisco, CA - October 6, 2009 - BizBuySell.com -- the Internet's largest marketplace for buying or selling a small business -- today released economic data for the third quarter of 2009. After multiple quarters of declining business-for-sale transactions, the new numbers suggest that the state of the small business economy is finally beginning to improve.
BizBuySell.com's new Third Quarter 2009 Insight Report shows a 24% year-over-year drop in closed small business transactions. While still lagging behind year-ago transaction numbers, BizBuySell.com's previous report -- which included data for the second quarter of 2009 -- showed a dramatic 50% decline in closed business-for-sale transactions when compared to the same time period in 2008. Closed transactions are reported to BizBuySell.com by business brokers nationwide.
BizBuySell.com's quarter-over-quarter data also supports the rebound in the business-for-sale marketplace. The number of closed transactions reported in the third quarter increased by 7.4% as compared to second quarter transactions. Just one year earlier, when the recession was hitting its stride, that same quarter-over-quarter statistic dropped 30%.
"After many bleak months for the small business-for-sale economy, the market seems to have hit bottom and is fortunately now beginning to turn around," says Mike Handelsman, General Manager of BizBuySell.com. "As credit eases, business fundamentals recover and SBA lending criteria change with respect to goodwill, we are optimistic that the fourth quarter of this year and the first quarter of 2010 will show increased signs of recovery and growth."
Closed Transactions Increase as Pricing Drops
BizBuySell.com's third quarter data suggests that business sellers are dropping their prices, which is making it possible for more deals to close. For example, the median sale price for closed transactions fell to $149,000 from $189,500 year-over-year, a 21.4% decline in price.
The metrics used to value companies have seen a similarly dramatic downward trend. Revenue multiples on reported closed transactions dropped 9.6% to .62 in the third quarter of 2009, and cash flow multiples dropped to 2.44, a 12.2% year-over-year decrease. The revenue and cash flow multiples are calculated by dividing the selling price of the business by its reported annual revenue or cash flow.
"These year-over-year price declines are dramatic, and suggest there are good deals out there for potential business buyers," says Handelsman. "With unemployment at record high levels, and SBA lending loosening beginning in Q4, this decrease in pricing and valuation numbers has made the prospect of purchasing a business much more achievable to buyers."
Business Brokers Optimistic About Business-for-Sale Transactions
A recent BizBuySell.com survey of business brokers around the country similarly revealed that they are positive about the future of small business transactions:
34% of business brokers reported expecting to close their next deal within the next few weeks.
75% of survey respondents expect to close their next small business transaction within the next three months.
47% of survey respondents believe small business transaction levels will not fall any further than they were during the second quarter of 2009, which leads 78% of survey respondents to believe that business-for-sale transactions will begin to increase again before Q2 2010.
For more information on the BizBuySell.com Third Quarter 2009 Insight Report, visit http://www.bizbuysell.com/news/media_insight.html.
About BizBuySell:
BizBuySell.com is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell.com currently has an inventory of over 47,000 businesses for sale, and more than 700,000 monthly visits. BizBuySell.com also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories.
BizBuySell.com was founded in 1996 and acquired by LoopNet, Inc. in 2004. LoopNet operates the largest commercial real estate listing service online, with more than $500 billion of property listed for sale and 5.7 billion square feet of space for lease. With over 3 million members, LoopNet attracts the Internet's largest community of commercial real estate professionals. For more information, visit www.bizbuysell.com.
Media Contact:
Frank Krolicki Walker Sands Communications office: (312) 546-4127 email: fkrolicki@walkersands.com
Return to Media Releases
Let us serve as expert sources for you on buying a business, selling a business, valuing a business and small business trends. Email us here or call Mike Handelsman at 415-284-4380
BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service.
Buy a Biz
Sell Your Biz
Find a Franchise
Value a Biz
Find a Broker
For Brokers
try
{
var pageTracker = _gat._getTracker("UA-735942-1");
pageTracker._setDomainName("bizbuysell.com");
pageTracker._trackPageview();
}
catch (err)
{
}
Check us out at www.sellingrestaurants.com
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