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Minimizes the Risk of Purchasing a Business Purchasing a going-concern (a business that is profitable) business is less risky than buying an assets in- place business when the buyer changes the name, menu and concept. When a buyer starts a new concept, he does not have an existing customer base because there is a strong […]
Employees comment that customers are complaining about poor service, poor maintenance conditions, and the quality and quantity of menu items. Sellers owe back vendor debt, tax debt, etc. Seller is having to pay all bills cash on delivery (COD) when the merchandise is delivered. The employees are disgruntled, and some employees jobs have been eliminated. […]
In 2003 Chyna Honey was unsatisfied with a corporate career in South Florida. She decided to take a leap of faith after resigning from her job and taking some time to travel through Europe by packing up her SUV to drive across the country to the SF Bay area. Once settled into San Francisco she […]
This is part one of a two part series on the buyer’s due diligence process that is necessary for a buyer to follow in determining the viability of purchasing a restaurant, bar and/or club business. Typically, the buyer has somewhere between 10 and 20 calendar days from the time the asset purchase contract is accepted […]
Robby Morgenstein grew up in Baltimore’s large suburban Jewish community. Robby says that in his home, a “huge” fish platter (along with Frank Sinatra on the radio) was standard Sunday morning fare. Going into the restaurant business was a good fit for Robby. His grandparents were kosher caterers; his mother worked for them and a […]
The three primary areas buyers focus in on in doing their analysis to determine if the restaurant, bar or club opportunity it the right one for them is as follows: a. Price Valuation, b. Location Overview and c. Lease Terms. In the most recent article I discussed Price Valuation and Location Overview and in this […]
San Francisco Soup Company is a family owner business started by Jennifer Sarver in early 1999. Inspired by the success of soup bars in New York City after the famous “soup Nazi” Seinfeld episode, Jennifer saw a great opportunity to open a chain of soup restaurants in the SF Bay Area. She used her professional […]
Methods for raising money for a restaurant, bar and/or club acquisition is a two part series and in this first part I will discuss the following topics: 1. raising you own money, 2. seller financing and 3. third party financing. The second part which I will discuss in the next edition of Restaurant Rap will […]
Thirsty Bear Brewing Company, housed in a beautiful historic brick building in San Francisco directly across the street form the Moscone Center and Yerba Buena Center, is one of the most unique brewpubs in the country. The restaurant is the first brewpub in the United States to serve an authentic Spanish menu. Thirsty Bear bears […]