Buy a Bar in Roseville california
I'm going to keep this ad very simple because this business is very simple. This is a type 48 bar located in Roseville with short hours of operation and absolutely no food. The bar was recently upgraded and beautifully finished. It looks classy!
It has a Placer County type 48 liquor license, which sell for about $100,000.
The hours of operation are only 6pm until 2am Tuesday-Sunday.
The owner tells the broker monthly gross sales are in the $25,000 range. Pour costs are 18% with 4 part-time employees.
This is a no-brainer deal. the landlord owns the business and wants out of this business in order to mind his real estate holdings. So he says "sell it at a low price to move it now!"
The business is selling for $150,000 and the liquor license for $100,000. People who know this business and the area will know this is a steal of a deal.
In order to get the location and name, you'll need to be pre-qualified. Owner may consider carrying a portion of the purchase price for the right operator.
Check us out at www.sellingrestaurants.com
Wednesday, March 9, 2011
Arizona Restaurants For Sale
Arizona Restaurants For Sale
If you're looking for a family restaurant with a Denny's style menu with a very attractive rent factor then you should stop and look at this place.
This restaurant has been operating for nearly two years. The owner also owns and operates another restaurant in the area and frankly he's getting too old, tired to run these places and his health is suffering as a result. He is so motivated to sell and knows the business makes money that he's willing to carry $45,000 of the purchase price!!!
This is a seasonal restaurant that ebbs and flows with the snow birds and the fixed costs are so low that you can make money with monthly sales only being $15,000. The average seasonal monthly revenue I'm told by the owner is about $30,000 right now on the books and the off season is about $12,000.
This is a great family business for a family that knows how to operate a Denny's style business. Cut labor costs this way and make the breakeven point even lower than $15,000 a month. There is only one working owner on this site.
So select the golden button below to get the name and location and go out and see this place. It may not be the greatest looking center in the world, but hey, the rent is amazing!
Check us out at www.sellingrestaurants.com
If you're looking for a family restaurant with a Denny's style menu with a very attractive rent factor then you should stop and look at this place.
This restaurant has been operating for nearly two years. The owner also owns and operates another restaurant in the area and frankly he's getting too old, tired to run these places and his health is suffering as a result. He is so motivated to sell and knows the business makes money that he's willing to carry $45,000 of the purchase price!!!
This is a seasonal restaurant that ebbs and flows with the snow birds and the fixed costs are so low that you can make money with monthly sales only being $15,000. The average seasonal monthly revenue I'm told by the owner is about $30,000 right now on the books and the off season is about $12,000.
This is a great family business for a family that knows how to operate a Denny's style business. Cut labor costs this way and make the breakeven point even lower than $15,000 a month. There is only one working owner on this site.
So select the golden button below to get the name and location and go out and see this place. It may not be the greatest looking center in the world, but hey, the rent is amazing!
Check us out at www.sellingrestaurants.com
hillcrest restaurant for sale or restaurant for lease
hillcrest restaurant for sale or restaurant for lease
A Restaurateurs dream, only blocks from beach, lots of parking, easy access to freeway, nice patio, gorgeous bar and fully equipped kitchen with a Full Service type 47 Liquor License and all the top shelf offerings, as well as an exciting selection of wines.
Continue with current concept and add to it or bring in your own concept. This owner has built a nive followin and you can add to it.
The Build out on this restaurant is first class and holds quite the attraction to detail, with a banquet room that allows catering to private groups.
This is a must see!
All buyer will be verbally qualified prior to name and address being given. The buyer should have $350,000+ cash leaving come for working capital, a good credit score in the 700's and good restaurant ownership and/or management experience. If you don't have these, please don't call because I'll never get you past the landlord.
Check us out at www.sellingrestaurants.com
A Restaurateurs dream, only blocks from beach, lots of parking, easy access to freeway, nice patio, gorgeous bar and fully equipped kitchen with a Full Service type 47 Liquor License and all the top shelf offerings, as well as an exciting selection of wines.
Continue with current concept and add to it or bring in your own concept. This owner has built a nive followin and you can add to it.
The Build out on this restaurant is first class and holds quite the attraction to detail, with a banquet room that allows catering to private groups.
This is a must see!
All buyer will be verbally qualified prior to name and address being given. The buyer should have $350,000+ cash leaving come for working capital, a good credit score in the 700's and good restaurant ownership and/or management experience. If you don't have these, please don't call because I'll never get you past the landlord.
Check us out at www.sellingrestaurants.com
Buy a restaurant in on the beach
Buy a restaurant in on the beach
A Restaurateurs dream, only blocks from beach, lots of parking, easy access to freeway, nice patio, gorgeous bar and fully equipped kitchen with a Full Service type 47 Liquor License and all the top shelf offerings, as well as an exciting selection of wines.
Continue with current concept and add to it or bring in your own concept. This owner has built a nive followin and you can add to it.
The Build out on this restaurant is first class and holds quite the attraction to detail, with a banquet room that allows catering to private groups.
This is a must see!
All buyer will be verbally qualified prior to name and address being given. The buyer should have $350,000+ cash leaving come for working capital, a good credit score in the 700's and good restaurant ownership and/or management experience. If you don't have these, please don't call because I'll never get you past the landlord.
Check us out at www.sellingrestaurants.com
A Restaurateurs dream, only blocks from beach, lots of parking, easy access to freeway, nice patio, gorgeous bar and fully equipped kitchen with a Full Service type 47 Liquor License and all the top shelf offerings, as well as an exciting selection of wines.
Continue with current concept and add to it or bring in your own concept. This owner has built a nive followin and you can add to it.
The Build out on this restaurant is first class and holds quite the attraction to detail, with a banquet room that allows catering to private groups.
This is a must see!
All buyer will be verbally qualified prior to name and address being given. The buyer should have $350,000+ cash leaving come for working capital, a good credit score in the 700's and good restaurant ownership and/or management experience. If you don't have these, please don't call because I'll never get you past the landlord.
Check us out at www.sellingrestaurants.com
sub shop restaurant for sale, sub shop restaurant for lease Macon Georgia
sub shop restaurant for sale, sub shop restaurant for lease Macon Georgia
New York style sub shop restaurant for sale in Macon will move quickly. Profitable, good location and well established restaurant for sale is ready for a new owner.
This sub shop restaurant for sale has capitalized on a solid tradition and an excellent reputation for giving customers what they want; great food that is fresh, fast and affordable. The restaurant has a well developed customer base, and is known for its hot subs, cold subs, NY deli sandwiches, Italian hoagies, and Philly cheese steaks. This is not a franchise and has no royalty fees; this is the start of something you can franchise. Located in Macon Georgia with a small town atmosphere and low cost of business leads to high profitability. Macon is a lovely city south of Atlanta and home to the International Cherry Blossom festival and a major artery for traffic between Atlanta and I-95.
The restaurant is 2738 square feet inside and seats approximately 50. This location is a stand-alone building with a drive-thru. The rent is 2550 includes property tax and CAMS. Six years are left on the lease with a 3 year option. Restaurant is located on a main highway and has great street visibility for customers.
This business has been established for multiple years and shows sales over $200,000 for past eight years with excellent books and records. We can demonstrate earnings on the book for an owner/operator of more than $50,000. Current owner/operator is only open for 6 days a week and past couple of years has profited $50,000 per year. New owner can improve both food costs and labor which could deliver more profit to the bottom line. Current Owner is selling business due to death in family. Owner will train new buyer for one week with no additional charge.
The menu features 50 varieties of New York-style submarine sandwiches, deli sandwiches and salads. Sandwiches have become the fastest growing category of quick service restaurants. With today's society obsessed with healthier diets, sandwich sales will outpace both the pizza and the hamburger segments.
Prime location, Cash Earnings, Loyal Following. Don't miss out!
Click the link below, register as a buyer and electronically sign the confidentiality agreement to access to more details, photo, and location.
Check us out at www.sellingrestaurants.com
New York style sub shop restaurant for sale in Macon will move quickly. Profitable, good location and well established restaurant for sale is ready for a new owner.
This sub shop restaurant for sale has capitalized on a solid tradition and an excellent reputation for giving customers what they want; great food that is fresh, fast and affordable. The restaurant has a well developed customer base, and is known for its hot subs, cold subs, NY deli sandwiches, Italian hoagies, and Philly cheese steaks. This is not a franchise and has no royalty fees; this is the start of something you can franchise. Located in Macon Georgia with a small town atmosphere and low cost of business leads to high profitability. Macon is a lovely city south of Atlanta and home to the International Cherry Blossom festival and a major artery for traffic between Atlanta and I-95.
The restaurant is 2738 square feet inside and seats approximately 50. This location is a stand-alone building with a drive-thru. The rent is 2550 includes property tax and CAMS. Six years are left on the lease with a 3 year option. Restaurant is located on a main highway and has great street visibility for customers.
This business has been established for multiple years and shows sales over $200,000 for past eight years with excellent books and records. We can demonstrate earnings on the book for an owner/operator of more than $50,000. Current owner/operator is only open for 6 days a week and past couple of years has profited $50,000 per year. New owner can improve both food costs and labor which could deliver more profit to the bottom line. Current Owner is selling business due to death in family. Owner will train new buyer for one week with no additional charge.
The menu features 50 varieties of New York-style submarine sandwiches, deli sandwiches and salads. Sandwiches have become the fastest growing category of quick service restaurants. With today's society obsessed with healthier diets, sandwich sales will outpace both the pizza and the hamburger segments.
Prime location, Cash Earnings, Loyal Following. Don't miss out!
Click the link below, register as a buyer and electronically sign the confidentiality agreement to access to more details, photo, and location.
Check us out at www.sellingrestaurants.com
buckhead-atlanta restaurant for sale, restaurant for lease, Georgia
buckhead-atlanta restaurant for sale, restaurant for lease, Georgia
Buckhead restaurant for sale is a prime opportunity for those that want to locate in Atlanta's best shopping and dining district. Great rent. Well established.
This buckhead restaurant for sale has operated in this same location for over 17 years as ‘the go-to-place for lunch’. This business is highly successful and generates $600,000+ in gross sales serving only lunch 6 days a week. The owner is taking his concept and the name to a larger location nearby. This allows for a savvy buyer to come in with their concept and capitalize on the past success of this unique location. Located in the heart of the Buckhead Business district , this restaurant space has great demographics for not only lunch but dinner as well. It is within the highly sought after Shops of Buckhead re-development.
Unlike most other small restaurants, this 1500 square foot restaurant fr sale has more than half of the square footage dedicated to the nicely equipped kitchen. This allows for a much higher volume and can support delivery and catering operations without loss of dine-in functionality. The layout is that of a classic café and the kitchen comes complete with hood vent system, six eye commercial range, dual pizza oven, coolers, freezers, and much more in a fully equipped commercial kitchen.
Low overhead for the Buckhead restaurant lease space can't be emphasized enough. Lease payments of only $3450 a month mean break even for virtually any operator is a simple goal to reach. The rent includes the CAM expense as well. You are not going to find a better deal in a high traffic highly visible location like this one.
You can't say enough good things about this area. In fact, the Robb Report rated Buckhead one of the USA's 10 "Top Affluent Communities" for "some of the most beautiful mansions, best shopping and finest restaurants in the southeastern United States."
This is an excellent location for a small bistro, Italian, catering, bakery or almost any other concept. This wonderful opportunity will be available December 1 and ready for your concept. All that is needed is you, your inventory, and staffing. With proper planning you can be open in a matter of days!
Check us out at www.sellingrestaurants.com
Buckhead restaurant for sale is a prime opportunity for those that want to locate in Atlanta's best shopping and dining district. Great rent. Well established.
This buckhead restaurant for sale has operated in this same location for over 17 years as ‘the go-to-place for lunch’. This business is highly successful and generates $600,000+ in gross sales serving only lunch 6 days a week. The owner is taking his concept and the name to a larger location nearby. This allows for a savvy buyer to come in with their concept and capitalize on the past success of this unique location. Located in the heart of the Buckhead Business district , this restaurant space has great demographics for not only lunch but dinner as well. It is within the highly sought after Shops of Buckhead re-development.
Unlike most other small restaurants, this 1500 square foot restaurant fr sale has more than half of the square footage dedicated to the nicely equipped kitchen. This allows for a much higher volume and can support delivery and catering operations without loss of dine-in functionality. The layout is that of a classic café and the kitchen comes complete with hood vent system, six eye commercial range, dual pizza oven, coolers, freezers, and much more in a fully equipped commercial kitchen.
Low overhead for the Buckhead restaurant lease space can't be emphasized enough. Lease payments of only $3450 a month mean break even for virtually any operator is a simple goal to reach. The rent includes the CAM expense as well. You are not going to find a better deal in a high traffic highly visible location like this one.
You can't say enough good things about this area. In fact, the Robb Report rated Buckhead one of the USA's 10 "Top Affluent Communities" for "some of the most beautiful mansions, best shopping and finest restaurants in the southeastern United States."
This is an excellent location for a small bistro, Italian, catering, bakery or almost any other concept. This wonderful opportunity will be available December 1 and ready for your concept. All that is needed is you, your inventory, and staffing. With proper planning you can be open in a matter of days!
Check us out at www.sellingrestaurants.com
Restaurant for lease in Loma Linda
Restaurant for lease in Loma Linda
We Say bring your concept and equipment, and take advantage of this high-visibility/high-traffic location where all you need to do is bring in your equipment, and before you know it, you've got a beautiful restaurant in a great location. This restaurant space is just a stone's throw from Interstate 10 with easy access on and off the freeway.
This location is very bright and clean and has a hood system ready to go. No key money needed, just first months rent, plus security deposit. It would cost you no less than $75,00 to build this restaurant to the level it current is at.
This location has 1,285 sq ft with a rent of only $3,045 per month.
Don't miss out on this great location!
Please select one of the bright orange buttons below to get the address of this location along with more photos.
Check us out at www.sellingrestaurants.com
We Say bring your concept and equipment, and take advantage of this high-visibility/high-traffic location where all you need to do is bring in your equipment, and before you know it, you've got a beautiful restaurant in a great location. This restaurant space is just a stone's throw from Interstate 10 with easy access on and off the freeway.
This location is very bright and clean and has a hood system ready to go. No key money needed, just first months rent, plus security deposit. It would cost you no less than $75,00 to build this restaurant to the level it current is at.
This location has 1,285 sq ft with a rent of only $3,045 per month.
Don't miss out on this great location!
Please select one of the bright orange buttons below to get the address of this location along with more photos.
Check us out at www.sellingrestaurants.com
restaurants for lease restaurants for rent atlanta georgia
restaurants for lease restaurants for rent atlanta georgia
Former restaurant space occupied by a Moe's fast food franchise is available for lease immediately. 2500 square feet features hood, grease trap and refrigeration. New tenant only needs to bring his equipment under the line to be successful. Located in out parcel, this location has prime real estate positioning and share a pad with Starbucks. Patio space is another benefit of this location ready to go.
Population in 5 mile radius is 185,538 and HH income is $90,766 so the numbers work well for fast casual concepts.
Italian, BBQ, Mexican or more - let's put your new restaurant in this space anchored by LA Fitness that serves as a destination for this community.
Landlord says let's make a deal so we can get you in for under $3500 a month with strong credentials and good credit.
Check us out at www.sellingrestaurants.com
Former restaurant space occupied by a Moe's fast food franchise is available for lease immediately. 2500 square feet features hood, grease trap and refrigeration. New tenant only needs to bring his equipment under the line to be successful. Located in out parcel, this location has prime real estate positioning and share a pad with Starbucks. Patio space is another benefit of this location ready to go.
Population in 5 mile radius is 185,538 and HH income is $90,766 so the numbers work well for fast casual concepts.
Italian, BBQ, Mexican or more - let's put your new restaurant in this space anchored by LA Fitness that serves as a destination for this community.
Landlord says let's make a deal so we can get you in for under $3500 a month with strong credentials and good credit.
Check us out at www.sellingrestaurants.com
Tuesday, March 8, 2011
Fountain Hills Restaurant For Sale
Fountain Hills Restaurant For Sale
This owner operated family restaurant has been a Fountain Hills area favorite for over a decade. This restaurant recently opened again under the original owner and the business is growing as the loyal customers have returned for the outstanding food and hospitality.
The cost to build out a restaurant and kitchen of this quality is thousands more than the asking price.
The restaurant and kitchen have been completely refurbished, painted, updated and cleaned. It is in like new condition from top to bottom. The restaurant is spotless.
NEW BAR!- has just been added with a #12 License.
This has always been a great place to EAT!! The menu features something for everyone, great salads, burgers, pizza, gyros, specialty entrees and wings. Breakfast is not currently served but everything is in place to do so. Whatever your specialty the equipment is there to produce it. The kitchen and storage are huge and perfect for catering which offers a great opportunity to expand your business growth. Large parties up to 50+ can easily be accommodated in the banquet room.
The business is currently open for lunch and dinner five days a week by the owner’s choice. Just think of the additional revenue by expanding the hours!!
This is a total package of furniture, fixtures and equipment. It has a full hood system, walk-in, freezers, refrigerated sandwich tables, fryers, grill, griddle, complete new scullery, a three door pizza oven, three HVAC units and two swamp coolers, tables, booths, chairs, beverage station, new bar and more.
The building is adjoined by an ice cream shop and fraternal organization meeting hall. The shared parking is huge, well maintained and lighted.
Patio seating is available for up to 30.
It is minutes to downtown and the famous fountain.
This is a rare opportunity to own the business and negotiate a great lease too. Bring your offer, the we are ready to deal!
Check us out at www.sellingrestaurants.com
This owner operated family restaurant has been a Fountain Hills area favorite for over a decade. This restaurant recently opened again under the original owner and the business is growing as the loyal customers have returned for the outstanding food and hospitality.
The cost to build out a restaurant and kitchen of this quality is thousands more than the asking price.
The restaurant and kitchen have been completely refurbished, painted, updated and cleaned. It is in like new condition from top to bottom. The restaurant is spotless.
NEW BAR!- has just been added with a #12 License.
This has always been a great place to EAT!! The menu features something for everyone, great salads, burgers, pizza, gyros, specialty entrees and wings. Breakfast is not currently served but everything is in place to do so. Whatever your specialty the equipment is there to produce it. The kitchen and storage are huge and perfect for catering which offers a great opportunity to expand your business growth. Large parties up to 50+ can easily be accommodated in the banquet room.
The business is currently open for lunch and dinner five days a week by the owner’s choice. Just think of the additional revenue by expanding the hours!!
This is a total package of furniture, fixtures and equipment. It has a full hood system, walk-in, freezers, refrigerated sandwich tables, fryers, grill, griddle, complete new scullery, a three door pizza oven, three HVAC units and two swamp coolers, tables, booths, chairs, beverage station, new bar and more.
The building is adjoined by an ice cream shop and fraternal organization meeting hall. The shared parking is huge, well maintained and lighted.
Patio seating is available for up to 30.
It is minutes to downtown and the famous fountain.
This is a rare opportunity to own the business and negotiate a great lease too. Bring your offer, the we are ready to deal!
Check us out at www.sellingrestaurants.com
Phoenix Metro area restaurant with Real Estate For Sale
Phoenix Metro area restaurant with Real Estate For Sale
THIS IS A JEWEL OF A RESTAURANT WITH REAL ESTATE - you've got to see this restaurant to believe what a steal it is! It would cost $400k just to build out the interior of this restaurant as it stands let alone and the land and building is included
This family restaurant has been a Fountain Hills an area favorite for nearly a decade. After a very successful run of his own, the owner leased the facility and the tenant carried on the tradition of friendly, affordable family style dining. JIMMY’S IS OPEN ONCE AGAIN under the original owner and business is bustling as his loyal customers have returned for the outstanding food and hospitality.
The restaurant has been completely refurbished, painted, updated and cleaned. It is in like new condition from top to bottom. This Broker has never seen such attention to detail. The restaurant is spotless.
NEW BAR!- the owner has added a new bar and is just awaiting the approval of the #12 Liquor license. This is an outstanding location for a possible sports pub as well which would require a minimal change.
This has always been a great place to EAT!! The menu features something for everyone, great salads, burgers, pizza, gyros, specialty entrees and wings. Breakfast is not currently served but everything is in place to do so. Whatever your specialty is the equipment is there to produce it. The kitchen and storage are huge and perfect for catering which offers a great opportunity to expand your business growth. Large parties up to 50+ can easily be accommodated in the banquet room.
The business is currently open for lunch and dinner five days a week by the owner’s choice. Just think of the additional revenue by expanding the hours.
This is a total package of building, land, furniture, fixtures and equipment. It has a full hood system, two walk-ins, freezers, refrigerated sandwich tables, fryers, grill, griddle, complete scullery, a three door pizza oven, three HVAC units and two swamp coolers, tables, booths, chairs, beverage station and more.
The building is adjoined by an ice cream shop and fraternal organization meeting hall. The shared parking is huge, well maintained and lighted.
It is minutes to downtown and the famous fountain.
This is a rare opportunity to own the business, building and land at a great price. Bring your offer, the Seller is ready to deal!!
Check us out at www.sellingrestaurants.com
THIS IS A JEWEL OF A RESTAURANT WITH REAL ESTATE - you've got to see this restaurant to believe what a steal it is! It would cost $400k just to build out the interior of this restaurant as it stands let alone and the land and building is included
This family restaurant has been a Fountain Hills an area favorite for nearly a decade. After a very successful run of his own, the owner leased the facility and the tenant carried on the tradition of friendly, affordable family style dining. JIMMY’S IS OPEN ONCE AGAIN under the original owner and business is bustling as his loyal customers have returned for the outstanding food and hospitality.
The restaurant has been completely refurbished, painted, updated and cleaned. It is in like new condition from top to bottom. This Broker has never seen such attention to detail. The restaurant is spotless.
NEW BAR!- the owner has added a new bar and is just awaiting the approval of the #12 Liquor license. This is an outstanding location for a possible sports pub as well which would require a minimal change.
This has always been a great place to EAT!! The menu features something for everyone, great salads, burgers, pizza, gyros, specialty entrees and wings. Breakfast is not currently served but everything is in place to do so. Whatever your specialty is the equipment is there to produce it. The kitchen and storage are huge and perfect for catering which offers a great opportunity to expand your business growth. Large parties up to 50+ can easily be accommodated in the banquet room.
The business is currently open for lunch and dinner five days a week by the owner’s choice. Just think of the additional revenue by expanding the hours.
This is a total package of building, land, furniture, fixtures and equipment. It has a full hood system, two walk-ins, freezers, refrigerated sandwich tables, fryers, grill, griddle, complete scullery, a three door pizza oven, three HVAC units and two swamp coolers, tables, booths, chairs, beverage station and more.
The building is adjoined by an ice cream shop and fraternal organization meeting hall. The shared parking is huge, well maintained and lighted.
It is minutes to downtown and the famous fountain.
This is a rare opportunity to own the business, building and land at a great price. Bring your offer, the Seller is ready to deal!!
Check us out at www.sellingrestaurants.com
bar in scottsdale for sale
bar in scottsdale for sale
THE FALL SEASON IS HERE AND THE PLACE IS BUZZING!
New MAJOR PRICE REDUCTION MAKES THIS THE PERFECT TIME TO BUY!! The Season has just begun!!
NOW $89,900
SellingRestaurants is excited to bring this popular Scottsdale "watering hole" to market. Located in a free standing cottage style building this has long been a favorite after-shift destination for the restaurant crowd and they know where to eat drink and be merry for the best value. This cozy spot features outstanding salads, sandwiches and Panini’s served in the intimate dining room and bar which currently seats 24 but could be expanded. The patio wraps around the front and west side of building and seats an additional 30 for alfresco service. The front entry patio can also be expanded to double its present size. The kitchen features cold preparation for appetizers and salads and Panini presses . There is currently no hood system, however, the duct work is in place for installation of exhasut fans.
An extensive wine list of bottle and glass pours, a full bar, friendly and welcoming atmosphere and late night dining have all combined to create one of the areas most popular "neighborhood joints". This is a perfect opportunity for an outgoing owner-operator. The restaurant is compact and easy to operate with a loyal clientele. The operative word for this place is “FUN”.
The Owner has made a great living here for several years, but demands of family life makes it necessary to move on.
If you enjoy the "biz" and interacting with your customers as the genial host/bartender/owner of your own special place than this is defintely for you.
Check us out at www.sellingrestaurants.com
THE FALL SEASON IS HERE AND THE PLACE IS BUZZING!
New MAJOR PRICE REDUCTION MAKES THIS THE PERFECT TIME TO BUY!! The Season has just begun!!
NOW $89,900
SellingRestaurants is excited to bring this popular Scottsdale "watering hole" to market. Located in a free standing cottage style building this has long been a favorite after-shift destination for the restaurant crowd and they know where to eat drink and be merry for the best value. This cozy spot features outstanding salads, sandwiches and Panini’s served in the intimate dining room and bar which currently seats 24 but could be expanded. The patio wraps around the front and west side of building and seats an additional 30 for alfresco service. The front entry patio can also be expanded to double its present size. The kitchen features cold preparation for appetizers and salads and Panini presses . There is currently no hood system, however, the duct work is in place for installation of exhasut fans.
An extensive wine list of bottle and glass pours, a full bar, friendly and welcoming atmosphere and late night dining have all combined to create one of the areas most popular "neighborhood joints". This is a perfect opportunity for an outgoing owner-operator. The restaurant is compact and easy to operate with a loyal clientele. The operative word for this place is “FUN”.
The Owner has made a great living here for several years, but demands of family life makes it necessary to move on.
If you enjoy the "biz" and interacting with your customers as the genial host/bartender/owner of your own special place than this is defintely for you.
Check us out at www.sellingrestaurants.com
Arizona Restaurants For Sale
Arizona Restaurants For Sale
If you're looking for a family restaurant with a Denny's style menu with a very attractive rent factor then you should stop and look at this place.
This restaurant has been operating for nearly two years. The owner also owns and operates another restaurant in the area and frankly he's getting too old, tired to run these places and his health is suffering as a result. He is so motivated to sell and knows the business makes money that he's willing to carry $45,000 of the purchase price!!!
This is a seasonal restaurant that ebbs and flows with the snow birds and the fixed costs are so low that you can make money with monthly sales only being $15,000. The average seasonal monthly revenue I'm told by the owner is about $30,000 right now on the books and the off season is about $12,000.
This is a great family business for a family that knows how to operate a Denny's style business. Cut labor costs this way and make the breakeven point even lower than $15,000 a month. There is only one working owner on this site.
So select the golden button below to get the name and location and go out and see this place. It may not be the greatest looking center in the world, but hey, the rent is amazing!
Check us out at www.sellingrestaurants.com
If you're looking for a family restaurant with a Denny's style menu with a very attractive rent factor then you should stop and look at this place.
This restaurant has been operating for nearly two years. The owner also owns and operates another restaurant in the area and frankly he's getting too old, tired to run these places and his health is suffering as a result. He is so motivated to sell and knows the business makes money that he's willing to carry $45,000 of the purchase price!!!
This is a seasonal restaurant that ebbs and flows with the snow birds and the fixed costs are so low that you can make money with monthly sales only being $15,000. The average seasonal monthly revenue I'm told by the owner is about $30,000 right now on the books and the off season is about $12,000.
This is a great family business for a family that knows how to operate a Denny's style business. Cut labor costs this way and make the breakeven point even lower than $15,000 a month. There is only one working owner on this site.
So select the golden button below to get the name and location and go out and see this place. It may not be the greatest looking center in the world, but hey, the rent is amazing!
Check us out at www.sellingrestaurants.com
Mesa arizona restaurant for sale with real estate
Mesa arizona restaurant for sale with real estate
If you've been looking for a classy Italian restaurant where you're the landlord, then you've got to take a look at this business that includes the real estate. There is approximately $1 million of assumable loans on the property.
The restaurant has built a Long Standing reputation of great food, service, and experience throughout the Mesa community.
There are 5,300 Sq. Ft. in this stand alone building that was built in 2008.
This restaurant is located in a high growth and upscale area of Mesa Arizona and has been in business for more than 10 years in the Mesa area and moved to this new location in 2008.
Over the years, as their business blossomed, they outgrew their original location. In 2008 they made a short move to a beautiful, brand new facility that added a new elegance and ambience to their reputation for outstanding cuisine, value and service. The beautiful entry foyer leads to the main dining room featuring booth seating, as well as flexible table and chair combinations. There is a small intimate bar area where beer, wine and liquor is served (license #12).
Just past the fountain the rear dining area looks out onto the patio and outside play court and can accommodate private parties and large groups up to fifty in the flex dining space as well as regular diners.
The entire restaurant is filled with natural light, dark woods and intimate spaces. The exceptional kitchen is state of the art and fully equipped to accommodate the busy dining room, take out and catering as well. The kitchen is huge and features two complete cooking lines for hot and cold preparation. In addition there is a complete pizza bakery.
The owners wish to return to the Midwest creating a unique opportunity to purchase this turnkey business. The price includes the real estate and business.
The monthly cost to purchase this property is actually less than comparable leased space and there is nothing to build out, equip or furnish. The assumable SBA guaranteed loan features an interest rate of prime + 2.75%. This equates to current monthly payment of approximately $6,500 or only $14.75/sq ft. The restaurant features 5,300 square feet of beautifully finished space in a free standing building and a business that is growing and thriving. The facility is only two years old and has been meticulously maintained.
This is an opportunity to purchase a thriving business in a great location at an affordable price and great financing.
Check us out at www.sellingrestaurants.com
If you've been looking for a classy Italian restaurant where you're the landlord, then you've got to take a look at this business that includes the real estate. There is approximately $1 million of assumable loans on the property.
The restaurant has built a Long Standing reputation of great food, service, and experience throughout the Mesa community.
There are 5,300 Sq. Ft. in this stand alone building that was built in 2008.
This restaurant is located in a high growth and upscale area of Mesa Arizona and has been in business for more than 10 years in the Mesa area and moved to this new location in 2008.
Over the years, as their business blossomed, they outgrew their original location. In 2008 they made a short move to a beautiful, brand new facility that added a new elegance and ambience to their reputation for outstanding cuisine, value and service. The beautiful entry foyer leads to the main dining room featuring booth seating, as well as flexible table and chair combinations. There is a small intimate bar area where beer, wine and liquor is served (license #12).
Just past the fountain the rear dining area looks out onto the patio and outside play court and can accommodate private parties and large groups up to fifty in the flex dining space as well as regular diners.
The entire restaurant is filled with natural light, dark woods and intimate spaces. The exceptional kitchen is state of the art and fully equipped to accommodate the busy dining room, take out and catering as well. The kitchen is huge and features two complete cooking lines for hot and cold preparation. In addition there is a complete pizza bakery.
The owners wish to return to the Midwest creating a unique opportunity to purchase this turnkey business. The price includes the real estate and business.
The monthly cost to purchase this property is actually less than comparable leased space and there is nothing to build out, equip or furnish. The assumable SBA guaranteed loan features an interest rate of prime + 2.75%. This equates to current monthly payment of approximately $6,500 or only $14.75/sq ft. The restaurant features 5,300 square feet of beautifully finished space in a free standing building and a business that is growing and thriving. The facility is only two years old and has been meticulously maintained.
This is an opportunity to purchase a thriving business in a great location at an affordable price and great financing.
Check us out at www.sellingrestaurants.com
Monday, August 30, 2010
The Haunted Restaurant - A Ghostly Story!
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
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
Thursday, March 11, 2010
DON’T GUARANTEE THAT LEASE!
CLeases can be huge liabilities for restaurant owners. Most leases are personally guaranteed by the tenant. This means, the tenant guarantees the rent will be paid through the whole term of the lease, even when the business is closed and not making money.
All too often tenants are shocked to find out the landlord is pounding on their door asking for the rent and foreclosing on their home in order to collect past due rents. Or worse yet, they sold the restaurant and the new owner has failed to pay the rent so the landlord is asking the old owner to cough-up the monthly rent or else.
Yes, the reality of the situation is when a tenant defaults on a lease, most leases give the landlord the right to literally take every thing they own to pay the rent as long as the landlord follows the legal process.
But there is a growing trend SellingRestaurants has developed and initiated with several landlords that eliminates the need for a personal guarantee. And in this economy it could takes years to fill a restaurant space with a new tenant costing the tenant possibly hundreds of thousand of dollars.
To a landlord there is nothing worse than having a restaurant space go dark and having the tenant strip it. Restaurants have vast and expensive infrastructures in place that often cost 10’s and in some cases 100’s of thousands of dollars to build. From plumbing to electrical to sewer and all the special permits required in-between, a restaurant has some great value even when it is closed and longs as it is turn-key, ready to open the next day. In addition, it is far easier for the landlord to lease a turn-key restaurant than it is to lease a stripped facility.
To a restaurant tenant there is no less value in a restaurant sale than the liquidated value one gets from striping a restaurant and selling it piecemeal. A turn-key restaurant could sell for $50,000+ but piecemeal the restaurant and one may fetch $5,000 to $10,000 for the equipment. And don’t even think about stripping it and storing it. The cost to store it will quickly exceed the price one can receive for the equipment.
SellingRestaurants works with hundreds of landlords each year. In recent months SellingRestaurants has spearheaded negotiations with landlords to eliminate the personal guarantees and replaced it with a reversion default clause whereby the tenant hands the landlord the restaurant keys and title to the property and walks away from the lease with no further obligation to the landlord. No more rent, period! This doesn’t eliminate a tenant’s right to sell the property per se, the tenant can always do that. But it significantly reduces the tenant’s lease obligations and personal risks.
So one may say that’s a lot to give a landlord. The truth is it isn’t. One can blow through $10,000 in rent in no time. And all one may get for the equipment is $10,000. And the liability for a lease could be huge.
So would one give-up $10,000 to be relieved of all liabilities relating to the lease. Well, this author certainly hopes so!
Give your SellingRestaurants agent a call and ask him what he can do for you.
heck us out at www.sellingrestaurants.com
All too often tenants are shocked to find out the landlord is pounding on their door asking for the rent and foreclosing on their home in order to collect past due rents. Or worse yet, they sold the restaurant and the new owner has failed to pay the rent so the landlord is asking the old owner to cough-up the monthly rent or else.
Yes, the reality of the situation is when a tenant defaults on a lease, most leases give the landlord the right to literally take every thing they own to pay the rent as long as the landlord follows the legal process.
But there is a growing trend SellingRestaurants has developed and initiated with several landlords that eliminates the need for a personal guarantee. And in this economy it could takes years to fill a restaurant space with a new tenant costing the tenant possibly hundreds of thousand of dollars.
To a landlord there is nothing worse than having a restaurant space go dark and having the tenant strip it. Restaurants have vast and expensive infrastructures in place that often cost 10’s and in some cases 100’s of thousands of dollars to build. From plumbing to electrical to sewer and all the special permits required in-between, a restaurant has some great value even when it is closed and longs as it is turn-key, ready to open the next day. In addition, it is far easier for the landlord to lease a turn-key restaurant than it is to lease a stripped facility.
To a restaurant tenant there is no less value in a restaurant sale than the liquidated value one gets from striping a restaurant and selling it piecemeal. A turn-key restaurant could sell for $50,000+ but piecemeal the restaurant and one may fetch $5,000 to $10,000 for the equipment. And don’t even think about stripping it and storing it. The cost to store it will quickly exceed the price one can receive for the equipment.
SellingRestaurants works with hundreds of landlords each year. In recent months SellingRestaurants has spearheaded negotiations with landlords to eliminate the personal guarantees and replaced it with a reversion default clause whereby the tenant hands the landlord the restaurant keys and title to the property and walks away from the lease with no further obligation to the landlord. No more rent, period! This doesn’t eliminate a tenant’s right to sell the property per se, the tenant can always do that. But it significantly reduces the tenant’s lease obligations and personal risks.
So one may say that’s a lot to give a landlord. The truth is it isn’t. One can blow through $10,000 in rent in no time. And all one may get for the equipment is $10,000. And the liability for a lease could be huge.
So would one give-up $10,000 to be relieved of all liabilities relating to the lease. Well, this author certainly hopes so!
Give your SellingRestaurants agent a call and ask him what he can do for you.
heck us out at www.sellingrestaurants.com
Tuesday, February 23, 2010
The Wooden Pony
I’m reading a book about a man that not only inspired me, but hundreds of millions of people around the world. This man had a story he would tell over and over again when things got tough and people were down and out and all looked hopeless. The story goes something like this with some editing from me of course:
There were two brothers. One was persistently pessimistic while the other with obsessively optimistic. The parents wanted the two boys to come to the middle so they hired a head shrink. The Shrink met with the pessimistic boy and put a pile of toys in the middle of the room for the boy to play with, thinking this would make the boy elated with joy and optimism. Much to the surprise of the shrink, the boy just stood there and cried. The shrink asked what was wrong and the boy replied if I play with the toys I will break them.
Then the shrink met with the optimistic boy and brought in a pile of manure. Much to the surprise of the shrink, the boy ran to the top of the pile of manure and started digging and digging. The shrink asked what are you doing. And the boy responded there must be a wooden pony in here somewhere.
The moral of the story in my humble opinion is when you find yourself in trouble, start digging!
If things are not happening for you and you’re not getting listings and you’re not doing deals, then change what you’re doing. Ask other agents who are doing deals what they’re doing to get those deals done.
But to just keep doing what you’re doing…well you may as well take a hammer and pound in granite looking for the wooden pony.
The person who would tell this story was Ronald Reagan.
Check us out at www.sellingrestaurants.com
There were two brothers. One was persistently pessimistic while the other with obsessively optimistic. The parents wanted the two boys to come to the middle so they hired a head shrink. The Shrink met with the pessimistic boy and put a pile of toys in the middle of the room for the boy to play with, thinking this would make the boy elated with joy and optimism. Much to the surprise of the shrink, the boy just stood there and cried. The shrink asked what was wrong and the boy replied if I play with the toys I will break them.
Then the shrink met with the optimistic boy and brought in a pile of manure. Much to the surprise of the shrink, the boy ran to the top of the pile of manure and started digging and digging. The shrink asked what are you doing. And the boy responded there must be a wooden pony in here somewhere.
The moral of the story in my humble opinion is when you find yourself in trouble, start digging!
If things are not happening for you and you’re not getting listings and you’re not doing deals, then change what you’re doing. Ask other agents who are doing deals what they’re doing to get those deals done.
But to just keep doing what you’re doing…well you may as well take a hammer and pound in granite looking for the wooden pony.
The person who would tell this story was Ronald Reagan.
Check us out at www.sellingrestaurants.com
Tuesday, February 9, 2010
Humor on the Road
Okay, are you ready for some Arizona humor?
I'm canvassing like a dog in Scottsdale. So I decide to grab a bite to eat at a hot dog place - I figured that since I'm working like a dog I ought to eat one! So I order my hot dog with chili. I sit down and notice they're playing Spanish guitar music in the background. Strange I thought. So I was there for 20 minutes hoping the music would change. Nope. It didn't. Oh well, it must be a one off thing.
Fast forward to later in the afternoon - I go to a Chinese restaurant - which are rare in Scottsdale - go figure! I sit down and these guys are playing Top 40 music from the 70's and 80's. Go figure! So I'm eating Chinese food listening to top 40 classical rock and eating hot dogs listening to Spanish Guitar music.
Now, I'm I missing something here? Are they on the cutting-edge of creating atmosphere in restaurants by mixing the food with the different music? I don't know. But I know it was weird.
Check us out at www.sellingrestaurants.com
I'm canvassing like a dog in Scottsdale. So I decide to grab a bite to eat at a hot dog place - I figured that since I'm working like a dog I ought to eat one! So I order my hot dog with chili. I sit down and notice they're playing Spanish guitar music in the background. Strange I thought. So I was there for 20 minutes hoping the music would change. Nope. It didn't. Oh well, it must be a one off thing.
Fast forward to later in the afternoon - I go to a Chinese restaurant - which are rare in Scottsdale - go figure! I sit down and these guys are playing Top 40 music from the 70's and 80's. Go figure! So I'm eating Chinese food listening to top 40 classical rock and eating hot dogs listening to Spanish Guitar music.
Now, I'm I missing something here? Are they on the cutting-edge of creating atmosphere in restaurants by mixing the food with the different music? I don't know. But I know it was weird.
Check us out at www.sellingrestaurants.com
Friday, December 18, 2009
The California State Employees Are Killing This State and Should All Be FIRED!
For Anyone Who Doubts Bureaucrats (Mindless Officals as Defined by Webster) are not killing this state even more that it already is here is an e-mail I received from my escrow company. These mindless State employees ought to have their asses kicked!
"Hi Mel:
We have 18 sitting at ABC waiting for transfer. We call everyday (except furlow Friday). All we get is there is a lot of vacation time that needs to be taken, they are really busy and they make no promises.
We have tried to explain that after the end of the year is going to cause additional costs to seller’s, possible tax liabilities, etc. It doesn’t seem to matter."
I rest my case! The State is killing the small businesses!
Check us out at www.sellingrestaurants.com
"Hi Mel:
We have 18 sitting at ABC waiting for transfer. We call everyday (except furlow Friday). All we get is there is a lot of vacation time that needs to be taken, they are really busy and they make no promises.
We have tried to explain that after the end of the year is going to cause additional costs to seller’s, possible tax liabilities, etc. It doesn’t seem to matter."
I rest my case! The State is killing the small businesses!
Check us out at www.sellingrestaurants.com
Wednesday, November 18, 2009
Unfriendly California Business Environment COntinues
Well subscribers, the whacko left-wing state of California has just enacted another law to force EVERY business, not some, every one, to file a Used Tax Registration with the taxing authorities. This is just one step closer to literally taxing everything that moves in this screwed-up state control by none-other-than anti-business democrats! When are the people of this state going to wake-up!
Ronald Reagan said "if it moves tax it. If it keeps moving, regulate it. If it stops moving, subsidize it." We're on step three.
When was the last time a poor person employed people?
California Enacts Qualified Purchasers Act
With ongoing budgetary problems California has enacted a Use Tax registration requirement which applies to any business within the State of California who is defined within the act as a qualified purchaser (Sec. 6066, Revenue & Tax Code).
Effectively anyone or business that purchasers products or services subject to what would normally incur sales taxes must now self asses and pay what is commonly known as the Use Tax which is applied at the same rates as the California Sales Taxes which are dependent upon the location as to where the items or services are consumed or used.
The Use Tax is not new. The registration requirement is, therefore any purchases made that should have had sales taxes added, or purchases made from out of State sources have always been subject to the Use Tax. The new registration requirement will require all purchasers under the new registration requirement to report annually and pay for any escaped taxes.
A “qualified purchaser" is defined as:
A person or business that meets all of the following conditions:
• The person or business receives at least $100,000 in gross receipts from business operations per calendar year. Gross receipts are defined within the act as the total of all receipts from both in-state and out-of-state business operations.
• The person or business is not required to hold a seller's permit or certificate of registration for use tax (under section 6226 of the Revenue and Taxation Code).
• The person or business is not a holder of a use tax direct payment permit.
• The person or business is not otherwise registered with the BOE to report use tax.
Any individual or business that meets these criteria is now immediately required to comply with the new use tax registration requirements. The new law does not differentiate as to type of business, therefore any person or business whether involved in services or the sale of products are required to register with the State Board of Equalization.
The new law is effective as of October 26, 2009 with reporting requirements due not later than April 15 of each year.
We are here to assist you in the registration requirements as well as the compliance with the new filing requirements. Should you need assistance in regards to this very onerous situation we suggest that you contact us directly. The State Board of Equalization has already launched an extensive audit program aimed at those that purchase goods and or qualified services who have not reported or paid the Use Tax in the past, and we are currently working with many clients who have come under this audit program. You do not want to be one of them, and our suggestion is that you contact us first before the State Board of Equalization contacts you.
Should you or your business currently holds a valid State Board of Equalization permit there is no requirement to comply with this new law relating to registration.
We believe that this registration requirement is merely the first step by the State to move towards a sales tax on all products and services as such a proposal has already been made in the State Assembly.
Check us out at www.sellingrestaurants.com
Ronald Reagan said "if it moves tax it. If it keeps moving, regulate it. If it stops moving, subsidize it." We're on step three.
When was the last time a poor person employed people?
California Enacts Qualified Purchasers Act
With ongoing budgetary problems California has enacted a Use Tax registration requirement which applies to any business within the State of California who is defined within the act as a qualified purchaser (Sec. 6066, Revenue & Tax Code).
Effectively anyone or business that purchasers products or services subject to what would normally incur sales taxes must now self asses and pay what is commonly known as the Use Tax which is applied at the same rates as the California Sales Taxes which are dependent upon the location as to where the items or services are consumed or used.
The Use Tax is not new. The registration requirement is, therefore any purchases made that should have had sales taxes added, or purchases made from out of State sources have always been subject to the Use Tax. The new registration requirement will require all purchasers under the new registration requirement to report annually and pay for any escaped taxes.
A “qualified purchaser" is defined as:
A person or business that meets all of the following conditions:
• The person or business receives at least $100,000 in gross receipts from business operations per calendar year. Gross receipts are defined within the act as the total of all receipts from both in-state and out-of-state business operations.
• The person or business is not required to hold a seller's permit or certificate of registration for use tax (under section 6226 of the Revenue and Taxation Code).
• The person or business is not a holder of a use tax direct payment permit.
• The person or business is not otherwise registered with the BOE to report use tax.
Any individual or business that meets these criteria is now immediately required to comply with the new use tax registration requirements. The new law does not differentiate as to type of business, therefore any person or business whether involved in services or the sale of products are required to register with the State Board of Equalization.
The new law is effective as of October 26, 2009 with reporting requirements due not later than April 15 of each year.
We are here to assist you in the registration requirements as well as the compliance with the new filing requirements. Should you need assistance in regards to this very onerous situation we suggest that you contact us directly. The State Board of Equalization has already launched an extensive audit program aimed at those that purchase goods and or qualified services who have not reported or paid the Use Tax in the past, and we are currently working with many clients who have come under this audit program. You do not want to be one of them, and our suggestion is that you contact us first before the State Board of Equalization contacts you.
Should you or your business currently holds a valid State Board of Equalization permit there is no requirement to comply with this new law relating to registration.
We believe that this registration requirement is merely the first step by the State to move towards a sales tax on all products and services as such a proposal has already been made in the State Assembly.
Check us out at www.sellingrestaurants.com
Friday, November 13, 2009
The Smart Money is Moving into the Restaurant/Bar Business
There is an interesting trend going on in the restaurant and bar selling business. This week we started seeing investors enter the restaurant/bar market. We put 3 deals into contract this week. All three are investors, not operators. All three places are absentee operated. All three have verifiable income.
This is usually where it all begins in every industry after a hard long winter. The investors are jumping! Let’s get those profitable restaurants and bars on the market and let's hope this is a trend!
Check us out at www.sellingrestaurants.com
This is usually where it all begins in every industry after a hard long winter. The investors are jumping! Let’s get those profitable restaurants and bars on the market and let's hope this is a trend!
Check us out at www.sellingrestaurants.com
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
Obama Announces Small-Business Lending Push
By ROBB MANDELBAUM
Published: October 21, 2009
After enduring months of criticism that his administration had done too little to help small businesses weather the recession, President Obama said Wednesday that “there’s still too little credit flowing to our small businesses” and unveiled initiatives he said would open the spigot.
The measures, announced by Mr. Obama at a small records storage company in Maryland, would allow smaller community banks to borrow at low rates from the Treasury Department’s Troubled Asset Relief Program. It would also raise the loan caps on several popular Small Business Administration programs.
Under the administration plan, banks with less than $1 billion in assets could borrow from the program at a lower interest rate than financial institutions are required to pay.
In exchange, banks must demonstrate how they would increase lending to small businesses and follow up with quarterly reports. According to the White House, most business loans by the community banks that are eligible for the new rules are made to small businesses.
In addition, community groups that lend to small businesses in low-income areas under a Treasury Department program will be able to borrow relief money at just 2 percent annually for eight years. In the past, banks have been leery of the such loans because the program allows the government to buy warrants for the banks’ common stock and because it requires the institutions to limit executive compensation. But the small banks probably will not have to issue warrants in that program rules contain an exception for infusions of less than $100 million. The proposal as described Wednesday caps the infusions at $20 million.
The small institutions would be subject to the same compensation rules as any other relief recipient, said Gene Sperling, senior counselor to Treasury Secretary Timothy F. Geithner, in an interview. But, he added, “for these smaller community banks, the executive bonus restrictions will usually affect only their single most highly compensated employee.”
But some community bankers remain concerned. “I think that could be a damper on community bank involvement in this program, said Cam Fine, president and chief executive of the Independent Community Bankers of America, a trade association. “Those family-owned banks are not going to want to subject themselves to compensation restrictions imposed by TARP, because it is their own personal money that is the capital of the bank.”
Changing the S.B.A. loan limits will require approval from Congress. The administration’s plans, which would raise the limit on the most popular loan to $5 million from $2 million, are identical to provisions of a bill introduced by Senator Olympia J. Snowe of Maine. She is the ranking Republican on the Senate Small Business Committee and is seen as perhaps the only Republican who may vote for a Democratic-led health care bill.
In a statement, Ms. Snowe indicated she appreciated the gesture. “These actions will help satisfy the capital needs of small businesses looking to start or expand their operations,” she said.
Unlike the S.B.A. proposals, the bailout plan can take effect at the administration’s direction.
“Our goal is to conduct a wide spread consultation with the small business and small bank community for a few weeks, and get this operational as quickly as is practical,” Mr. Sperling said. Check us out at www.sellingrestaurants.com
Published: October 21, 2009
After enduring months of criticism that his administration had done too little to help small businesses weather the recession, President Obama said Wednesday that “there’s still too little credit flowing to our small businesses” and unveiled initiatives he said would open the spigot.
The measures, announced by Mr. Obama at a small records storage company in Maryland, would allow smaller community banks to borrow at low rates from the Treasury Department’s Troubled Asset Relief Program. It would also raise the loan caps on several popular Small Business Administration programs.
Under the administration plan, banks with less than $1 billion in assets could borrow from the program at a lower interest rate than financial institutions are required to pay.
In exchange, banks must demonstrate how they would increase lending to small businesses and follow up with quarterly reports. According to the White House, most business loans by the community banks that are eligible for the new rules are made to small businesses.
In addition, community groups that lend to small businesses in low-income areas under a Treasury Department program will be able to borrow relief money at just 2 percent annually for eight years. In the past, banks have been leery of the such loans because the program allows the government to buy warrants for the banks’ common stock and because it requires the institutions to limit executive compensation. But the small banks probably will not have to issue warrants in that program rules contain an exception for infusions of less than $100 million. The proposal as described Wednesday caps the infusions at $20 million.
The small institutions would be subject to the same compensation rules as any other relief recipient, said Gene Sperling, senior counselor to Treasury Secretary Timothy F. Geithner, in an interview. But, he added, “for these smaller community banks, the executive bonus restrictions will usually affect only their single most highly compensated employee.”
But some community bankers remain concerned. “I think that could be a damper on community bank involvement in this program, said Cam Fine, president and chief executive of the Independent Community Bankers of America, a trade association. “Those family-owned banks are not going to want to subject themselves to compensation restrictions imposed by TARP, because it is their own personal money that is the capital of the bank.”
Changing the S.B.A. loan limits will require approval from Congress. The administration’s plans, which would raise the limit on the most popular loan to $5 million from $2 million, are identical to provisions of a bill introduced by Senator Olympia J. Snowe of Maine. She is the ranking Republican on the Senate Small Business Committee and is seen as perhaps the only Republican who may vote for a Democratic-led health care bill.
In a statement, Ms. Snowe indicated she appreciated the gesture. “These actions will help satisfy the capital needs of small businesses looking to start or expand their operations,” she said.
Unlike the S.B.A. proposals, the bailout plan can take effect at the administration’s direction.
“Our goal is to conduct a wide spread consultation with the small business and small bank community for a few weeks, and get this operational as quickly as is practical,” Mr. Sperling said. Check us out at www.sellingrestaurants.com
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();
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catch (err)
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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
Thursday, October 15, 2009
Colorado minimum wage set to fall next year
By George, someone in Colorado took an economics course! One doesn't raise the minimum wage when unemployement rate is increasing. Will someone please tell that to those clown in Sacramento! And Washington D.C.!
From Nation's Restaurant News
By Alan J. Liddle
DENVER (Oct. 14, 2009) Colorado restaurateurs and other employers may reduce the pay of non-tipped minimum-wage employees by three pennies an hour and pay tipped workers four cents less beginning Jan. 1, according to the Colorado Department of Labor and Employment.
The wage reduction is based on a state constitutional amendment passed by voters in 2006 that calls for the minimum wage to be adjusted annually based on changes in the cost of living. Until now, inflation has pushed Colorado’s pay floor higher, but that is about to change.
Colorado’s pending wage decrease is believed to be the first among the 10 states that have mechanisms to adjust minimum-wage rates annually based on inflation indexes. The other states with such mechanisms are Arizona, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington.
According to a recent Colorado Department of Labor and Employment notice, beginning Jan. 1, the state’s minimum wage will decrease from $7.28 an hour to $7.24 for non-tipped employees and from $4.26 an hour to $4.22 for workers receiving gratuities. While most employers will have to at least meet the current federal minimum wage of $7.25 an hour for non-tipped workers, they may take the full four-cent reduction for employees who receive gratuities because the federal pay floor for individuals who receive tips, $2.13 an hour, is lower than Colorado’s rate.
The Colorado reduction is based on a 0.6-pecent reduction in the Denver-Boulder-Greeley Consumer Price Index between the first half of 2008 and the first half of 2009.
A call to Colorado Restaurant Association officials for comment was not returned by press time. The CRA opposed the wage-indexing amendment when it was put before voters.
Peter Meersman, chief executive and president of the CRA, told the Denver Post that his group will not make a recommendation to members related to maintaining or reducing wages.
Some advocacy groups for the working poor have urged employers not to take the reduction.
A hearing to allow public comment about the proposed order to lower the wage in accordance with the inflation-adjuster mechanism is set for Nov. 6 in Division of Labor chambers in Denver.
Check us out at www.sellingrestaurants.com
From Nation's Restaurant News
By Alan J. Liddle
DENVER (Oct. 14, 2009) Colorado restaurateurs and other employers may reduce the pay of non-tipped minimum-wage employees by three pennies an hour and pay tipped workers four cents less beginning Jan. 1, according to the Colorado Department of Labor and Employment.
The wage reduction is based on a state constitutional amendment passed by voters in 2006 that calls for the minimum wage to be adjusted annually based on changes in the cost of living. Until now, inflation has pushed Colorado’s pay floor higher, but that is about to change.
Colorado’s pending wage decrease is believed to be the first among the 10 states that have mechanisms to adjust minimum-wage rates annually based on inflation indexes. The other states with such mechanisms are Arizona, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington.
According to a recent Colorado Department of Labor and Employment notice, beginning Jan. 1, the state’s minimum wage will decrease from $7.28 an hour to $7.24 for non-tipped employees and from $4.26 an hour to $4.22 for workers receiving gratuities. While most employers will have to at least meet the current federal minimum wage of $7.25 an hour for non-tipped workers, they may take the full four-cent reduction for employees who receive gratuities because the federal pay floor for individuals who receive tips, $2.13 an hour, is lower than Colorado’s rate.
The Colorado reduction is based on a 0.6-pecent reduction in the Denver-Boulder-Greeley Consumer Price Index between the first half of 2008 and the first half of 2009.
A call to Colorado Restaurant Association officials for comment was not returned by press time. The CRA opposed the wage-indexing amendment when it was put before voters.
Peter Meersman, chief executive and president of the CRA, told the Denver Post that his group will not make a recommendation to members related to maintaining or reducing wages.
Some advocacy groups for the working poor have urged employers not to take the reduction.
A hearing to allow public comment about the proposed order to lower the wage in accordance with the inflation-adjuster mechanism is set for Nov. 6 in Division of Labor chambers in Denver.
Check us out at www.sellingrestaurants.com
Monday, October 12, 2009
Some People Are Just Too Serious
For those that know me, you know that I laugh a lot. I laugh at myself. I laugh at life's funny situations. I even laugh at politics and the silly things we see that go on in today's world. Darn, one has to laugh to keep sane!
There are those moments in my business where I often say to myself "our business would make a great reality show."
Let me give you an example of the humor I'm faced with each day. SellingRestaurants registers about 150-175 new customers each week. And each week there are those who don't want to play by the rules. They make names and phone numbers up. We've got Ronald Reagan, Barack Obama, and of course John and Jane Doe register on our website, just ot name a few. But the other day, I had the most unsual name register on our website - Sexual Blue.
Now what would the average person think? Of course the average person would instantly think the name is false, right? Well believe it or not, his name is Sexual Blue.
Well I suppose we all make mistakes...sorry Sexual Blue! No one is perfect! Not even your parents!
Check us out at www.sellingrestaurants.com
There are those moments in my business where I often say to myself "our business would make a great reality show."
Let me give you an example of the humor I'm faced with each day. SellingRestaurants registers about 150-175 new customers each week. And each week there are those who don't want to play by the rules. They make names and phone numbers up. We've got Ronald Reagan, Barack Obama, and of course John and Jane Doe register on our website, just ot name a few. But the other day, I had the most unsual name register on our website - Sexual Blue.
Now what would the average person think? Of course the average person would instantly think the name is false, right? Well believe it or not, his name is Sexual Blue.
Well I suppose we all make mistakes...sorry Sexual Blue! No one is perfect! Not even your parents!
Check us out at www.sellingrestaurants.com
Wednesday, October 7, 2009
KEEP THE MONEY IN YOUR COMMUNITY
How often do you go to chain restaurants like B.J.’s, Mortons, PF Changs, Claim Jumpers and whatnot? Did you know you could help your local economy more by going to locally owned restaurants? Think about it. When you spend a dollar at a chain restaurant all the profit leaves the area. If you eat at locally owned restaurants all the profit stays right in your community helping to employ more people. The restaurant owners in turn spend their profits locally.
Personally, I never eat at chain restaurants, not only because I want to support my community, but because the food and service is usually better than the chains. So start helping your community, eat out and eat at locally owned restaurants.
Check us out at www.sellingrestaurants.com
Personally, I never eat at chain restaurants, not only because I want to support my community, but because the food and service is usually better than the chains. So start helping your community, eat out and eat at locally owned restaurants.
Check us out at www.sellingrestaurants.com
Sunday, October 4, 2009
It is the Darkest Just before Dawn
Perhaps you’ve heard it before –“it’s the darkest just before dawn.” This phrase is used to describe the hope that is coming after a period of hopelessness. Times where it seems the world is ending; where fear paralyzes the masses and stops them in their tracks while the masses, like sheep, follow their “fear sheppard” to the wolves.
I’ve can’t recall the last time I woke up to watch a sunrise. So I don’t know if the phrase it literally true or not. A simple Google and I’m sure I’ll discover it isn’t. But it’s the meaning of the phrase rather than the legalist accuracy of the phrase that matters.
Today, people are uncertain about the future of their personal, as well as the country’s, economic future, stopping people cold in their tracks from making investments and spending money.
I say it is this very time that smart people recognize the opportunities and seize them. I say when it appears to be the darkest, it is time to buy; it is time to invest. Back in March 2009, the stock market looked like it was headed to bottoms that haven’t been seen in more than a decade. The whole nation was paralyzed. The “fear Sheppard” was out in masses and the masses where following the Sheppard. People panicked. People sold their stockholdings. It seemed the darkest.
But had one bought stock at that time, they’d be looking at 60-100% profits or more. I happen to have lived during the 1987 stock market crash known as Black Monday. That day in October the stock market dropped 25% in one day. It has never dropped that much in one day before or since. To equate that drop into today’s market, that’d be like shaving 2,500 points off the Dow Jones in one day.
Even during the darkest of times in earlier 2009, the Dow only fell 800 points or so in a day. So in October 1987 it was very dark comparatively speaking. Of course, today there are far more complex dynamics playing into the market demise. Had one bought in October 1987, they’d be very wealthy today despite the recent drop in stock prices. But in hindsight it was the best time to buy.
I believe this basic philosophy of buying when all others are petrified in stone by the current situation will result in great wealth being created in the future. I believe in not following the crowd, but rather going against the crowd. When the crowd starts buying, then you ought to seriously think about selling. And when the crowd starts selling or stops buying, you ought to think about buying.
So watch the crowd and go the opposite direction and you can’t go wrong in the long-run.
Check us out at www.sellingrestaurants.com
I’ve can’t recall the last time I woke up to watch a sunrise. So I don’t know if the phrase it literally true or not. A simple Google and I’m sure I’ll discover it isn’t. But it’s the meaning of the phrase rather than the legalist accuracy of the phrase that matters.
Today, people are uncertain about the future of their personal, as well as the country’s, economic future, stopping people cold in their tracks from making investments and spending money.
I say it is this very time that smart people recognize the opportunities and seize them. I say when it appears to be the darkest, it is time to buy; it is time to invest. Back in March 2009, the stock market looked like it was headed to bottoms that haven’t been seen in more than a decade. The whole nation was paralyzed. The “fear Sheppard” was out in masses and the masses where following the Sheppard. People panicked. People sold their stockholdings. It seemed the darkest.
But had one bought stock at that time, they’d be looking at 60-100% profits or more. I happen to have lived during the 1987 stock market crash known as Black Monday. That day in October the stock market dropped 25% in one day. It has never dropped that much in one day before or since. To equate that drop into today’s market, that’d be like shaving 2,500 points off the Dow Jones in one day.
Even during the darkest of times in earlier 2009, the Dow only fell 800 points or so in a day. So in October 1987 it was very dark comparatively speaking. Of course, today there are far more complex dynamics playing into the market demise. Had one bought in October 1987, they’d be very wealthy today despite the recent drop in stock prices. But in hindsight it was the best time to buy.
I believe this basic philosophy of buying when all others are petrified in stone by the current situation will result in great wealth being created in the future. I believe in not following the crowd, but rather going against the crowd. When the crowd starts buying, then you ought to seriously think about selling. And when the crowd starts selling or stops buying, you ought to think about buying.
So watch the crowd and go the opposite direction and you can’t go wrong in the long-run.
Check us out at www.sellingrestaurants.com
Tuesday, September 29, 2009
Government Endorsed and Sanctioned Monopolies - Corruption!
If you recall, my last article touch on how the states liquor license policies are clear violation of the Sherman Antitrust Act yet no one does anything about it. I believe the reason someone doesn't do anything is because the public is not educated on how the liquor license process and how it helps create monopolies.
In the article I want to create awareness of how the liquor manufacturers and the liquor distributors have government sanctioned and endorsed monopolies. But let read what Wikipedia says about the Sherman Act.
"The Sherman Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. § 1–7) requires the United States Federal government to investigate and pursue trusts, companies and organizations suspected of violating the Act. It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government."
There are four levels in between the manufacturers and the consumers: (1) Manufacturers are the companies producing the liquor, (2) distributors are the ones taking the manufacturers product and selling it to retail places such as restaurants and liquor stores, (3) the retail stores such as restaurants, liquor stores, grocery stores, etc.. and (4) the consumer.
The manufacturers sign exclusive distribution agreements for territories with individuals or companies. This means there is one distributor for each product within a given territory. In other words, if a restaurant wants to buy a case Jack Daniel's, there is only one choice the restaurant owner may purchase Jack Daniel's. The restaurant owner can't go to costco to buy it. He can't use another source to purchase the Jack Daniel's. THe owner has no other choice but to buy from the one distributor. This is controlled by the state and federal licensing authorities.
Here is what the dictionary says about Monopoly:
| "exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices." In our situation, the liquor manufacturers give exclusive control of their products to one distributor in a particular area. There is absolutely no competition for that specific product in a territory, none! So this by definition is a monopoly. There is no price competition. A vendee must pay whatever price the distributor or manufacturer wants to charge. But nothing will be done until the public is educated to understand why so many high profile politicians want these distributorships and will often do unethical thing to get them - these distributorship are cash cows! But the public are the ones hurt through higher prices. So please spread the word and one by one we can make this an issue where we can pressure our congress to change these rules and we can defeat the big liquor companies, big distributors resulting in our drinks costing less. |
Saturday, September 12, 2009
State Sponsored Monopolies
It's been a while since I wrote something. I'm still on the "kick California" mode.
In 1890, congress and the President passed the Sherman Antitrust Act. According to Wikipedia "The end sought was the prevention of restraints to free competition in business and commercial transactions which tended to restrict production, raise prices, or otherwise control the market to the detriment of purchasers or consumers of goods and services, all of which had come to be regarded as a special form of public injury."
In California the entire alcohol industry is a complete monopoly sponsored by the state. In the end, the consumer and the small business are hurt while big business thrives by this state sponsored monopoly.
How is it a monopoly one may question? First let's start with the issuance of liquor licenses, particularly hard liquor. California legislation requires liquor licenses to be issues by county and issued each year. In most cases these licenses are not transferrable to other counties. There are a fixed number issued by county each year. The number issued is based upon population growth ratios for each county. One can obtain a variance to the law, but that's not often done. For example, Mono county has very few people living in it. But Mono county is where Mammoth Lake resorts are located. Every one knows the population can swell during the ski season. There are 12 hard liquor licenses in that county. The Alcohol authorities issued 3 more this year despite there was no growth in population. Those licenses sell for $300,000 or more. These high prices can also be found in Napa, El Dorado and Placer Counties.
The state sponsored monopoly occurs because the only businesses that can afford to purchase a liquor license for $200,000 or more are large corporations building huge restaurants. The small business man has no chance of getting a liquor license. Sure he/she may get lucky and win one during the state lottery. But not likely.
The result is that in those counties where the liquor licenses are expensive the chain restaurants dominate the food and beverage businesses in the area. And the mom and pop restaurants are disadvantaged by not being able to serve hard liquor.
So the state legislators are sponsoring legislation that prevents free trade when they limit the alcohol licenses. The state needs to review this law, as many state already have. There needs to be simple demand and supply analysis complete to determine where these licenses need to be.
For example, if the market is bidding up license prices in a county it is obvious the demand is high and the supply low. Answer: issue more licenses in that county. If the state see license prices are low in another county, then stop issuing licenses.
The market for liquor licenses in California is efficient enough to do these simple analyses. We as consumer need to call our legislators to change these ancient ways of conducting business.
On my next article I will describe the monopoly that exists with liquor brand distribution all across the nation. It is shocking and very few consumers know it is happening.
Check us out at www.sellingrestaurants.com
Friday, July 17, 2009
Prime Example of Why Government is Not Our Friend!
This week I called to setup a liquor license transfer with the California Alcohol Beverage Control department. After spending 5 minutes navigating through their complex string of "for this push 1, for that push 2...and 10 layers later get a person" I got a person!
I asked for an appointmnet date. They said they could get us in at the end of August. I said, are you kidding me! She said they are very busy and backlogged right now. I said with what. Last time I checked people are closing restaurants and business and not transferring licenses. I added were there lay-offs at the ABC. She said there were no lay-offs. They have a project their working on for the next few weeks and their not allowed to take appointments.
CAN YOU BELIEVE IT! I told her does the ABC understand people are trying to make aliving out here and these kinds of delays kills deals. She could careless.
To give the inexperienced reader an idea of the issue this is, from the date of the appointment, it takes no less that 6 weeks and now probably 8 weeks to transfer a liquor license. Now with another 6 weeks added because they "can't take appointments" this means the earliest I can close this deal would be 4 months!
Again, another example of mindless bureacrats who could careless about business and people making a living.
Check us out at www.sellingrestaurants.com
I asked for an appointmnet date. They said they could get us in at the end of August. I said, are you kidding me! She said they are very busy and backlogged right now. I said with what. Last time I checked people are closing restaurants and business and not transferring licenses. I added were there lay-offs at the ABC. She said there were no lay-offs. They have a project their working on for the next few weeks and their not allowed to take appointments.
CAN YOU BELIEVE IT! I told her does the ABC understand people are trying to make aliving out here and these kinds of delays kills deals. She could careless.
To give the inexperienced reader an idea of the issue this is, from the date of the appointment, it takes no less that 6 weeks and now probably 8 weeks to transfer a liquor license. Now with another 6 weeks added because they "can't take appointments" this means the earliest I can close this deal would be 4 months!
Again, another example of mindless bureacrats who could careless about business and people making a living.
Check us out at www.sellingrestaurants.com
Thursday, July 2, 2009
Technology and Industry Changes - Broker to Buyer
Technology has always been a force in revolutionizing and creating industries. When automobile appeared on the earth, the carriage makers either accepted the new technology or died. When trains appear on the earth either the cargo hauling companies and passenger stage coaches changed or they died. When airplanes came on the earth either the passenger train companies changed or they died. When online travel agencies came on the earth either the travel agent changed or they died.
These are a few examples of how new technology forces change...forever. Is has been said, if the Pullman train car company would have thought of themselves as passenger carriers instead of train companies, we'd all be flying Pullman airlines.
But what happen to all those 10's of thousands of travel agencies that existed prior to the internet? What did we ever do it before the internet? The innovators in the travel industry created great companies such as Priceline and Travelocity based on a simple notion...impower the consumer. And that exactly what the internet has done to so many industries and people who fail to see it coming may as well get hit in the face by a Pullman train car!
So what does this have to do with commerical, residential, and business brokerage? Plenty! Just 15 years ago people who wanted to buy or sell a business had to somehow find a business broker - newspaper ads, phone book, and direct marketing - were the main sources of finding one. And then trying to find the right business or broker was a chore.
The internet removed a lot of the upfront work on finding a broker. But the brokerage business didn't change nor the mindset of the brokers didn't change. Many were theatened by this new technology. To them the internet was just another source of advertising instead of being a new technology leading to a revolution of the brokerage business. For the first time, buyers were impowered by the internet to find the properties they wanted. Soon, sellers realized they were impowered to use the same advertising channels the broker were using.
The brokerage industry is lagging behind technology. The model is changing right now, in front of us all. Instead of broker to broker business models, the brokerage industry is changing to a Broker to Buyer model and perhaps in time is could become a Seller to Buyer model. Yet we still see organizations like CABB (California Association of Business Brokers) and Commerical Multiple Listings Services focusing on the Broker to Broker model in order to compete.
Ultimately the consumer will be impowered to go direct to the seller. There will be a match making service bringing seller and buyer together. The "when" as to timing is sooner than later. So the broker who figures out how to add value to seller and buyer unions will be the big winner. The brokers who are stuck in the old world with broker to broker to buyer business model will go the way of Pullman Coach Cars.
Don't get me wrong, brokers certainly have value to add to every transaction with great strategies in the area of financing, protection, deal nurturing skills, and navigating the landscape of mines to get a deal done. But it has to be done in a world of Seller to Buyer business model.
Check us out at www.sellingrestaurants.com
These are a few examples of how new technology forces change...forever. Is has been said, if the Pullman train car company would have thought of themselves as passenger carriers instead of train companies, we'd all be flying Pullman airlines.
But what happen to all those 10's of thousands of travel agencies that existed prior to the internet? What did we ever do it before the internet? The innovators in the travel industry created great companies such as Priceline and Travelocity based on a simple notion...impower the consumer. And that exactly what the internet has done to so many industries and people who fail to see it coming may as well get hit in the face by a Pullman train car!
So what does this have to do with commerical, residential, and business brokerage? Plenty! Just 15 years ago people who wanted to buy or sell a business had to somehow find a business broker - newspaper ads, phone book, and direct marketing - were the main sources of finding one. And then trying to find the right business or broker was a chore.
The internet removed a lot of the upfront work on finding a broker. But the brokerage business didn't change nor the mindset of the brokers didn't change. Many were theatened by this new technology. To them the internet was just another source of advertising instead of being a new technology leading to a revolution of the brokerage business. For the first time, buyers were impowered by the internet to find the properties they wanted. Soon, sellers realized they were impowered to use the same advertising channels the broker were using.
The brokerage industry is lagging behind technology. The model is changing right now, in front of us all. Instead of broker to broker business models, the brokerage industry is changing to a Broker to Buyer model and perhaps in time is could become a Seller to Buyer model. Yet we still see organizations like CABB (California Association of Business Brokers) and Commerical Multiple Listings Services focusing on the Broker to Broker model in order to compete.
Ultimately the consumer will be impowered to go direct to the seller. There will be a match making service bringing seller and buyer together. The "when" as to timing is sooner than later. So the broker who figures out how to add value to seller and buyer unions will be the big winner. The brokers who are stuck in the old world with broker to broker to buyer business model will go the way of Pullman Coach Cars.
Don't get me wrong, brokers certainly have value to add to every transaction with great strategies in the area of financing, protection, deal nurturing skills, and navigating the landscape of mines to get a deal done. But it has to be done in a world of Seller to Buyer business model.
Check us out at www.sellingrestaurants.com
Monday, June 29, 2009
Government is Not Our Friend Part IV
In my continue rant of why the government is not our friends as business brokers I'm going to write about what regulations and laws do to the little guy who is simply trying to make a living.
But before I write futher, I want to share a message I received from a prominent Tax CPA in Los Angeles. He writes me this story:
"..the real problems that require resolution to the State problems are to reduce the waste in government - the week before I left I was involved in working with a client on doing work for the City of Moorpark. He normally pays his workers between $12 - $18 dollars an hour which is the prevailing wage in his industry. The City of Moorpark would not sign the contract unless his workers were paid what they considered prevailing wage which was $42.00 an hour. He rebid the contract at that labor rate and was awarded the contract which cost the City an additional $12k for something he was willing to do at the lower price."
There is another example of some brainless bureucrat (remember definition of bureucrat - mindless official) following some rediculous regulation or law which some other bureucrat enacted costing us tax payer big bucks!
Regulations and laws hurt the little guy and helps the monoplies. It hurts the little guy by increasing the hurdle or cost to enter into a particular market. Big companies love regulations and laws because it prevents entreprenuers from chipping away at the big boys on the block. It slows innovation and progress down because it prevents new ideas and approaches to business to freely enter the marketplace. It prevents the spawning on new companies that would otherwise employ millions but for mindless burdensome regulations.
In business brokerage we're faced with constant delays due to regulations and laws which I've pointed out in my prior blogs. Time kills deals. And the state is killing deals because they just can't seem to get out of the pockets of the special interests and run this state like a business. They are running it like a whore house handing out money to any one who wants to buy out our elected officials and by mindless bureucrats who refuse to change, who refuse to revisit their organizations to figure out how to best reduce costs and provide better, less regulated, services to the very people who give them their jobs.
We need a darn revolt in this state!
Check us out at www.sellingrestaurants.com
But before I write futher, I want to share a message I received from a prominent Tax CPA in Los Angeles. He writes me this story:
"..the real problems that require resolution to the State problems are to reduce the waste in government - the week before I left I was involved in working with a client on doing work for the City of Moorpark. He normally pays his workers between $12 - $18 dollars an hour which is the prevailing wage in his industry. The City of Moorpark would not sign the contract unless his workers were paid what they considered prevailing wage which was $42.00 an hour. He rebid the contract at that labor rate and was awarded the contract which cost the City an additional $12k for something he was willing to do at the lower price."
There is another example of some brainless bureucrat (remember definition of bureucrat - mindless official) following some rediculous regulation or law which some other bureucrat enacted costing us tax payer big bucks!
Regulations and laws hurt the little guy and helps the monoplies. It hurts the little guy by increasing the hurdle or cost to enter into a particular market. Big companies love regulations and laws because it prevents entreprenuers from chipping away at the big boys on the block. It slows innovation and progress down because it prevents new ideas and approaches to business to freely enter the marketplace. It prevents the spawning on new companies that would otherwise employ millions but for mindless burdensome regulations.
In business brokerage we're faced with constant delays due to regulations and laws which I've pointed out in my prior blogs. Time kills deals. And the state is killing deals because they just can't seem to get out of the pockets of the special interests and run this state like a business. They are running it like a whore house handing out money to any one who wants to buy out our elected officials and by mindless bureucrats who refuse to change, who refuse to revisit their organizations to figure out how to best reduce costs and provide better, less regulated, services to the very people who give them their jobs.
We need a darn revolt in this state!
Check us out at www.sellingrestaurants.com
Friday, June 26, 2009
The Government is Not Our Friend III
Here is another example of the government adding regulations during tough economic times and making business more difficult in California. Today our escrow company juist sent us a notice reading as foillows:
"Good Afternoon,
I hope all is well you. I wanted to make you aware of the latest to come down from the Department of Insurance in regards to customer service request (see our customer service department email below). The more clearly defined regulations are in effect immediately for our company but officially take effect July 1, 2009. Our passport system will be updated to be in compliance with the property characteristics within the next week. To obtain copies of documents you can contact the county recorders directly and there are several good search engines (ie Data Tree/Cyberhomes) that you can sign up with for a cost and information is available on-line for those services. "
This escrow company in the past could supply very important information about a property to help brokers evalutate the real estate, particularly commercial real estate where comps are not easy to find. But now the state forces them to only supply "Property Characteristics." "Those are as defined in Section 408.3 of the Revenue and Taxation Code, meaning:
· Year of construction of improvements to the property
· Square footage
· Number of bedrooms and bathrooms of all dwellings
· The property’s acreage
· Other attributes of or amenities to the property, such as swimming pools, views, zoning classifications or restrictions, use code designations
· Number of dwelling units of multiple family properties
Unfortunately, we can no longer provide Vesting Deeds, Comparables or a Plat Maps for customer service orders. "
Just one of many, many examploe of how larger government will justify its existence by passing more regulations and more laws. The monster is feeding itself. Sooner or later, food will run out and REALLY LASTING CHANGE will take over! Wake-up America!
Check us out at www.sellingrestaurants.com
"Good Afternoon,
I hope all is well you. I wanted to make you aware of the latest to come down from the Department of Insurance in regards to customer service request (see our customer service department email below). The more clearly defined regulations are in effect immediately for our company but officially take effect July 1, 2009. Our passport system will be updated to be in compliance with the property characteristics within the next week. To obtain copies of documents you can contact the county recorders directly and there are several good search engines (ie Data Tree/Cyberhomes) that you can sign up with for a cost and information is available on-line for those services. "
This escrow company in the past could supply very important information about a property to help brokers evalutate the real estate, particularly commercial real estate where comps are not easy to find. But now the state forces them to only supply "Property Characteristics." "Those are as defined in Section 408.3 of the Revenue and Taxation Code, meaning:
· Year of construction of improvements to the property
· Square footage
· Number of bedrooms and bathrooms of all dwellings
· The property’s acreage
· Other attributes of or amenities to the property, such as swimming pools, views, zoning classifications or restrictions, use code designations
· Number of dwelling units of multiple family properties
Unfortunately, we can no longer provide Vesting Deeds, Comparables or a Plat Maps for customer service orders. "
Just one of many, many examploe of how larger government will justify its existence by passing more regulations and more laws. The monster is feeding itself. Sooner or later, food will run out and REALLY LASTING CHANGE will take over! Wake-up America!
Check us out at www.sellingrestaurants.com
Thursday, June 25, 2009
The Government is Not Our Friend II
Every once in a while I get on these rants on topics that are near and dear to my heart...business vs. government! This is not a partisan article, it is an anti-government article. So if you get offended by those type of article, don't read it!
To continue on my last topic "The Government is Not Our Friend" I want to get into more details of how a larger government means less liberties, more regulations, leading to a less productive business environment; which is EXACTLY what is happening in this country and particular in California.
One important axiom in the business brokerage business, and in any type of transactional business for that "time kills deals." What does this mean? Simple, the longer it takes to close a deal, the higher the chances of the deal failing. When the deal fails, everyone loses, EVERYONE!
So government's role is to help make the process smoother and increase the chance of a successful close, right? NOT! Even though the government is a direct benefactor of getting a deal closed - more fees, more taxes, etc. it makes us transactional brokers crazy with delays and rediculous regulations.
By definition, when government gets bigger, it must justify its existence. How does it do that? It passes more laws and regulations requiring more people to oversee and enforce those new laws and regulations.
Oh sure, you'll hear people say regulations are good, particulary after the financial melt-down in October 2008. Many like to point to the financial melt-down situation as a regulation issue in order to justify all the crazy stuff going on in Washington. Don't be fooled. It was simple greed from all angles (consumers as well as corporations) driving that crisis.
There are plenty of regulations in place to prevent that melt-down, but many were simply ignored for the larger cause "get more American's into homes." That was the driving force! Blinders were on from all sides of the aisle. Republicans turned their heads for corporate America CEO's with sickening bonus programs and Democrats turned their heads for the sake of getting American's into home ownership despite the fact they couldn't afford it.
Ronald Reagan once said "Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." I believe we're entering Reagan's third stage for our society. When the government makes decisions for the individual - and that's exactly what regulation do - it is reducing our individual rights to manage our own lifes.
Sure there are some good regulations such as don't dump into our lakes and land...don't shoot down airplanes...don't distroy whole forests...etc. but there are many regulations burdening our personal freedoms to succeed.
We experience those burdonsome regulations in California with business transactions and business ownership. More and more companies have left this once great state because of the over regulation and over taxation. I believe in 1990 there were 120 or so fortune 500 companies headquartered in California. That's a lot of corporate folks with good salaries. Today I believe that number is about 20 or so. That's a lot of great jobs gone. Why? As I said, over regulation and over taxation.
We as a nation should be concerned with getting rid of regulations and laws that don't make sense any longer. It is rare that our legislators actually remove laws from the books. We have government entities overseeing other government entities overseeing other government entities and so on. Or policy makers need to get rid of the California Bulk sale law! Our state needs to get rid of the budersome ABC liquor license process. Our local governments need to get rid of the foolish over prices transfer of business health inspections. Our DRE needs to make it easier to get a real estate license during tough times and harder during good times - can you believe these guys at DRE!
If our industry of business brokerage has all these regulation causing delays and lost income, I can only imagine other industries where simple changes can make a whole lot of differences to making deals happen. But as long as the bureaucrats - mindless officials - have an open check book to tax us to death in order to keep thier jobs and power base, they will do it instead of looking to make business in California easy to do. We should all be pounding our government to make our lives easier, and growing it isn't the answer!
Check us out at www.sellingrestaurants.com
Wednesday, June 24, 2009
The Government is Not Our Friend
This weekend I read an article in the Sacramento Business Journal in the Opinion section titled A Government Belittled, Justice Denied written by Ralph Carmona a former University of California Regent and a former university professor. Just given those two positions, I'm sure one can figure out where his political views are coming from.
Ralph argues that our society needs to maintain our local law enforcement agencies and prison systems and not succumb to the pressures of lower tax revenues. That our community needs to pony-up more money to support these critical functions of our society.
Not a surpising response from a life long government employee who has never signed the "front of the check" and has always signed the "back of the check." Practicvally every singe person in this country, and the world for that fact, is cutting their spending. Coming up with creative ways to reduce their spending given their incomes have changes or their expectations of their income doesn't look good.
So why is it these government bureaucrats - bureaucrats is defined as an official who works on fixed routines without exercising intelligent judgement - just can't be like the rest of us and make tough decision on how to manage better with less?
Instead we see these bureaucrats making our job tougher each day by challenging our licensing requirements or increasing or changing regulations or by increasing taxes.
During tough economic times these are EXACTLY the opposite things government should be doing. Government should be making it easier to sell businesses and do business. Instead these these officials who are exercising routines without intelligences are making life for the very people who pay their damn bills more difficult.
Government should be making it easier to get business purchase loans. Government should be reducing regulations making selling businesses easier. Government should be helping the broker by letting him do his/her job and not harassing him/her because they are looking for any and all sources of additional income.
Here are examples of the absue of these mindless government people: Larry Braden has experienced some very clear harassment from the Washington State department of real estate and the worker compensation board. In California, the ABC no longer allows individuals to select any ABC office to begin the transfer process regardless of how backed-up the office you need is. It could take 2-3 weeks just to get an appointment these days. Health departments have increased their fees for transfers - in Sacramento they now charge $1,200 for a transfer. In California we have a bulk sale law that was established nearly 100 years ago during at time when there was ramped fraud occuring with people skipping town and not paying their vendors. The law is so out-of-date that California is one of five states that still has this law in place. This law causes at least another 30 day delay in trying to close a business purchase. Add this to the ABC delay of 45 days, and one begins to ask why am I here in this state?
Yesterday I had a clients who is purchasing a liqour license from us. He owns a bar in the redevelopment area of Stockton, and area where the city is screaming for more businesses to come in. He has a beer and wine license right now and is converting to a hard liquor license. He initally got the greenlight from the city to convert the license. Then out of seemingly nowhere, one of those mindless officials put on the breaks and said, "oh, you now need a change of use permit which will cost you $5,000 and take at least another 60 days." Can you believe it! Absolutely mindless!
In times like these the government is our enemy, yet we Americans have elected a government that is tripling in size, stripping away our liberties and making our ability to do business even more difficult. What the hell are we thinking folks!
Check us out at www.sellingrestaurants.com
Ralph argues that our society needs to maintain our local law enforcement agencies and prison systems and not succumb to the pressures of lower tax revenues. That our community needs to pony-up more money to support these critical functions of our society.
Not a surpising response from a life long government employee who has never signed the "front of the check" and has always signed the "back of the check." Practicvally every singe person in this country, and the world for that fact, is cutting their spending. Coming up with creative ways to reduce their spending given their incomes have changes or their expectations of their income doesn't look good.
So why is it these government bureaucrats - bureaucrats is defined as an official who works on fixed routines without exercising intelligent judgement - just can't be like the rest of us and make tough decision on how to manage better with less?
Instead we see these bureaucrats making our job tougher each day by challenging our licensing requirements or increasing or changing regulations or by increasing taxes.
During tough economic times these are EXACTLY the opposite things government should be doing. Government should be making it easier to sell businesses and do business. Instead these these officials who are exercising routines without intelligences are making life for the very people who pay their damn bills more difficult.
Government should be making it easier to get business purchase loans. Government should be reducing regulations making selling businesses easier. Government should be helping the broker by letting him do his/her job and not harassing him/her because they are looking for any and all sources of additional income.
Here are examples of the absue of these mindless government people: Larry Braden has experienced some very clear harassment from the Washington State department of real estate and the worker compensation board. In California, the ABC no longer allows individuals to select any ABC office to begin the transfer process regardless of how backed-up the office you need is. It could take 2-3 weeks just to get an appointment these days. Health departments have increased their fees for transfers - in Sacramento they now charge $1,200 for a transfer. In California we have a bulk sale law that was established nearly 100 years ago during at time when there was ramped fraud occuring with people skipping town and not paying their vendors. The law is so out-of-date that California is one of five states that still has this law in place. This law causes at least another 30 day delay in trying to close a business purchase. Add this to the ABC delay of 45 days, and one begins to ask why am I here in this state?
Yesterday I had a clients who is purchasing a liqour license from us. He owns a bar in the redevelopment area of Stockton, and area where the city is screaming for more businesses to come in. He has a beer and wine license right now and is converting to a hard liquor license. He initally got the greenlight from the city to convert the license. Then out of seemingly nowhere, one of those mindless officials put on the breaks and said, "oh, you now need a change of use permit which will cost you $5,000 and take at least another 60 days." Can you believe it! Absolutely mindless!
In times like these the government is our enemy, yet we Americans have elected a government that is tripling in size, stripping away our liberties and making our ability to do business even more difficult. What the hell are we thinking folks!
Check us out at www.sellingrestaurants.com
Thursday, May 21, 2009
The Paradox of Our Industry In These Tough Times
There is an old song by the Clash that comes to my mind as I swim threw this business buying and selling environment..."should I stay or should I go'" but with slightly different words "should I buy or should I sell."
This song is a classic song about a person who doesn't know what to do and who is totally confused. And this is where our market is right now; albeit we've move a bit farther away from the abyss of total darkest of confusion we were in in February. Now there is a light coming over the horizon, and I hope we're not in Alaska where is stays there for sometime.
There are little trickles of buying activities in all areas of our company. There is certainly increased levels of activity across the spectrum of websites with our advertisers generating plenty of interest and the registration levels at our website are healthy at 130+ per week, not bad for this time of year.
What we need though is more content, and quality content at that. And this is where the confusion starts. The market for new listings will lag the market place's demand for restaurants and businesses driving up multiples for the existing inventory. Seller's with good businesses will start to jump back into the market place as soon as they see transactions are taking place. As I said, we're seeing demand bubbling up right now, and this is traditionally the slower time of year. So perhaps old trends will Clash - I had to say it - with new trends. Let's hope!
We have the best people in the business and the best tools to do deals before every one else starts. So let's make it happen!
Check us out at www.sellingrestaurants.com
This song is a classic song about a person who doesn't know what to do and who is totally confused. And this is where our market is right now; albeit we've move a bit farther away from the abyss of total darkest of confusion we were in in February. Now there is a light coming over the horizon, and I hope we're not in Alaska where is stays there for sometime.
There are little trickles of buying activities in all areas of our company. There is certainly increased levels of activity across the spectrum of websites with our advertisers generating plenty of interest and the registration levels at our website are healthy at 130+ per week, not bad for this time of year.
What we need though is more content, and quality content at that. And this is where the confusion starts. The market for new listings will lag the market place's demand for restaurants and businesses driving up multiples for the existing inventory. Seller's with good businesses will start to jump back into the market place as soon as they see transactions are taking place. As I said, we're seeing demand bubbling up right now, and this is traditionally the slower time of year. So perhaps old trends will Clash - I had to say it - with new trends. Let's hope!
We have the best people in the business and the best tools to do deals before every one else starts. So let's make it happen!
Check us out at www.sellingrestaurants.com
Wednesday, May 13, 2009
Chasing The Antelope...
If there was ever a day where I felt like that Cheetah in the video chasing down the antelope and licking my chops only to have it pick out from right under my gripping teeth, that day was today!
I've worked on one deal since October 2008. It should have been an easy deal from the beginning. Simple asset sale priced at $125,000, right. Wrong! All parties involved in this deal were tough to deal with; landlord, seller, and buyer. I got the deal past hurdle after hurdle, and there were more hurdles in this deal then in a 400 meter hurdle track race.
First, it was the price. Got past that after two months. Then it was the Seller didn't want to transfer the beer and wine license. Got past that in a month. Then it was the landlord trying to take advantage of the new buyer/tenant with a rediculous lease that resembled nothing of their agreement and the buyer went paranoid from that point forward and had an attorney check the lease not once. not twice, but THREE TIMES. Got past that after two months. Then it was a Buyer who had to check with his buddies, attorney and regional franchisor on every move; and his buddies are the experts, right! Got past all those folks.
So 8 months later and on the day of the posting of the ABC license, buyer, seller, franchise rep for buyer and I meet at the restaurant to post the license. Buyer asks, by the way, the phone number is included in the sale, right? I say no, you're buying a asset, not a business. You changing the name. The sellers owns another place just down the road in the next town and they're going to transfer the number, right? Buyer say, then I don't want the place. Deal over!
One can never know when immaterial points like the transfer of a phone number can kill a deal. Needless to say, I was amazed! I still hold-out some hope and I will try to get creative to try to make the deal happen, but I'm laughing at the cheetah...me...
Check us out at www.sellingrestaurants.com
I've worked on one deal since October 2008. It should have been an easy deal from the beginning. Simple asset sale priced at $125,000, right. Wrong! All parties involved in this deal were tough to deal with; landlord, seller, and buyer. I got the deal past hurdle after hurdle, and there were more hurdles in this deal then in a 400 meter hurdle track race.
First, it was the price. Got past that after two months. Then it was the Seller didn't want to transfer the beer and wine license. Got past that in a month. Then it was the landlord trying to take advantage of the new buyer/tenant with a rediculous lease that resembled nothing of their agreement and the buyer went paranoid from that point forward and had an attorney check the lease not once. not twice, but THREE TIMES. Got past that after two months. Then it was a Buyer who had to check with his buddies, attorney and regional franchisor on every move; and his buddies are the experts, right! Got past all those folks.
So 8 months later and on the day of the posting of the ABC license, buyer, seller, franchise rep for buyer and I meet at the restaurant to post the license. Buyer asks, by the way, the phone number is included in the sale, right? I say no, you're buying a asset, not a business. You changing the name. The sellers owns another place just down the road in the next town and they're going to transfer the number, right? Buyer say, then I don't want the place. Deal over!
One can never know when immaterial points like the transfer of a phone number can kill a deal. Needless to say, I was amazed! I still hold-out some hope and I will try to get creative to try to make the deal happen, but I'm laughing at the cheetah...me...
Check us out at www.sellingrestaurants.com
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