Despite the doom and gloom about the economy in the media, businesses are selling at Restaurant Realty. To date we have completed and/or are in escrow with nearly 35 TRANSACTIONS as indicated immediately below.
BUSINESSES SOLD/LEASED BY RESTAURANT REALTY IN 2009
- Catering Businesses – 1) San Rafael, 2) Concord, 3) Commercial Kitchen, San Jose.
- Coffee Cafes – 1) Oakland
- Lease Only Deals (without purchasing business) – 1) 7,500 sq foot Restaurant/Bar, Vacaville (closed when leased), 2) View Restaurant/Bar, Tiburon, 3) Chinese Take Out, Sunnyvale, 4) Downtown SF
- Closed Restaurants – 1) Pleasanton, 2) SF, 3) Oakland, 4) Mill Valley, 5) San Rafael (x2)
- Breakfast/Lunch Restaurants – 1) SF in the new Federal Building, 2) Concord in Office Building
- Specialty Restaurants – 1) Italian, San Rafael, 2) Spanish, San Rafael, 3) Italian & Bar [2] San Jose, 4) Italian, Novato, 5) Pizza, SF, 6) Deli, Petaluma, 7) Japanese, SF, 8) Italian & Bar with Banquet Facilities at Golf Course, San Mateo, 9) Bagel Café, Mill Valley, 10) Argentine, SF, 11) Indian, Berkeley
- Bars – 1) Antioch, 2) Sebastopol, 3) SF [2]
- Franchise Restaurants – 1) Togo’s, Vacaville, 2) Quizno’s, Concord
Our unique approach to marketing to potential buyers affords sellers a great opportunity to sell their business in today’s market. We are able to help sellers overcome negative factors that influence buyers by doing the following:
- Businesses are priced right. It is imperative that businesses are priced properly to encourage that there will be plenty of buyer activity. This helps to assure that the business will sell at or close to the asking price in a timely manner. It has been helpful in closing several transactions when sellers carried back some of the financing.
- Businesses are marketed properly. Our aggressive marketing program helps assure that the business will get the maximum exposure on a confidential basis through extensive internet marketing, email blasts, and regular mailings throughout the year, etc.
- We Follow up with Buyers promptly. Once a buyer contacts us we respond to them immediately and get them the information they need to evaluate the business. Once they move forward with an offer we respond quickly to assure their due diligence (review of books and records, physical inspection and landlord approval) is completed in a timely manner. We expedite the ABC (alcohol license) transfer process which is extremely important today due to the cut backs in staffing and extra days off state employees at ABC are experiencing.
- We emphasize with Buyers the need for them to buy their own business and control their destiny. In this economic period the high unemployment rate necessitates many people buying a business for themselves for their stability and the future stability of their family. Employees working for others at this time are vulnerable to possibly lose their jobs which could result in turning their life upside down in a short time frame.
- Our expertise leads to positive results with Landlords. We approach landlords in order to provide more favorable lease terms including reduced rents in some cases especially in today’s economic climate.
By practicing the above policies Restaurant Realty has been successful in closing a high volume of transactions irrespective of the challenging economy.
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