“The Smoking Log”

How to Sell a Restaurant Fast

Posted by on Oct 21, 2014 in "The Smoking Log" | Comments Off on How to Sell a Restaurant Fast

As with most businesses, price is a prime factor in selling a restaurant fast. However, restaurants can sell for their asset value alone, such as furniture, fixtures and equipment (FF&E) along with their permits and licenses.  Knowing how to value those assets is the key to selling a restaurant quickly. Price is not the only […] As with most businesses, price is a prime factor in selling a restaurant fast. However, restaurants can sell for their asset value alone, such as furniture, fixtures and equipment (FF&E) along with their permits and licenses.  Knowing how to value...

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SELLING YOUR RESTAURANT: How to Find & Work With the Right Broker

Posted by on Mar 11, 2014 in "The Smoking Log" | Comments Off on SELLING YOUR RESTAURANT: How to Find & Work With the Right Broker

Ultimately, you make money in the restaurant business by building a great concept and selling the business to an operator who wants to step into a business with a history of success. Whether that is your end game for retirement or a steppingstone to your next big project, you need to think about that day…. Making the decision to sell your restaurant business can be a tough and emotional one — not unlike selling your home. You are in a better position to make a good deal, with a clear head and planning. You need to make your restaurant presentable and available for showings, get...

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Hot Restaurant Menu Trends for 2014

Posted by on Dec 13, 2013 in "The Smoking Log" | Comments Off on Hot Restaurant Menu Trends for 2014

The coming year will be a year of blurred lines in the hospitality industry, with hotel lobbies doubling as living rooms, croissants doubling as doughnuts, and vegetables doubling as dessert ingredients, a hospitality consulting group predicts. “Blurred Lines” was the theme of the latest annual trend-prediction webinar given by Andrew Freeman, chief executive of San Francisco-based hospitality consulting firm Andrew Freeman & Co. After a quick rundown of the trends that are winding down, what’s currently trending and what we’re likely to see next year (see some...

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Are You Cut Out for the Restaurant Business?

Posted by on Oct 15, 2013 in "The Smoking Log" | Comments Off on Are You Cut Out for the Restaurant Business?

Going Into the Restaurant Business With Eyes Wide Open Marty Bombenger — SOUTHERN RESTAURANT CONSULTING, Key West, Florida Even for businesspeople who have been successful in other industries, opening a restaurant can be one of the most challenging yet fulfilling entrepreneurial ventures one can encounter. Each year tens of thousands of people begin the process of creating a new restaurant. Their chances of success often hinge on how well prepared they are to face the challenges. Those who approach this business with “eyes wide open” are often in the best position to...

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How to Find Investors & Raise Startup Capital for Your First Restaurant

Posted by on Oct 15, 2013 in "The Smoking Log" | Comments Off on How to Find Investors & Raise Startup Capital for Your First Restaurant

. Getting a small-business loan was fairly easy because the boat served as the primary collateral. My partner and I put up some cash and he added a small bit of real estate to round out the collateral needs. The total investment was $80,000. When it comes to restaurant financing, investments of $100,000 or less are typically financed in much the same manner. The owner/operator will usually contribute a portion of the capital and then seek the remainder of the financing needs through their bank, oftentimes seeking the endorsement of the Small Business Administration. That said, one of the most...

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What Restaurants are Selling For Now

Posted by on Aug 13, 2013 in "The Smoking Log" | Comments Off on What Restaurants are Selling For Now

Want to Unload Your Current Operation or Buy a New One? New Sales Data Can Help You Decide How Much Any Restaurant Is Worth. Restaurants ultimately sell for what the market will bear, and new sales data released by Internet marketplace site BizBuySell provides a clear picture of the valuations buyers are placing on foodservice businesses today. The most recent numbers, covering sales that occurred during the second quarter of 2013, can give you an indication of how you might price your restaurant for sale, how much you can expect to get for it or, if you’re in buying mode, how much...

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