ANSWER: There are business
brokers who specialize in selling restaurants, but they
typically will not sell to anyone who has not had restaurant
management experience.
"We only work with
experienced restaurant people," said Steve Zimmerman,
president of Restaurant Realty Co. in Corte Madera.
"If you don't have experience, you don't get to first base
with us."
If you do have restaurant
management experience and are looking to buy your own
establishment, you can contact a specialized broker like
Zimmerman or a general business broker. Check the
listings of restaurants for sale at
www.restaurants-for-sale.com, www.bizben.com, or
www.bizbuysell.com.
Also check the classified ads
in major newspapers like The Chronicle, which often include
a section devoted to restaurant sales. Some restaurant
franchise companies are willing to sell franchises to people
without food service experience.
On the other hand, if you're
simply a food lover who wants to be a passive investor in a
restaurant, you'll have to rely on informal networking.
Start by talking with the chef or owner of a restaurant that
you patronize a lot. They may be thinking of opening a
second site and need additional investors. Or they may know
a promising chef who wants to open his or her own place.
"Occasionally, a really good
chef develops a relationship with a customer who has money,
and the customer says, 'If you ever want to go into the
restaurant business, I'll be there for you,' " Zimmerman
said.
But think twice before
sinking your money into restaurants in any way other than
buying dinner.
"Everyone has a fantasy of
owning a restaurant," Zimmerman said. "It looks
glamorous from the outside, but the majority are not
successful. I have sometimes sold the same restaurant three,
four or five times in five years. It's a very risky
business."
