“The Smoking Log”

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

Posted by on Jul 16, 2013 in "The Smoking Log" | Comments Off on How to Find Investors & Raise Startup Capital for Your First Restaurant

Joe Erickson’s initial foray into the world of foodservice ownership resulted when Joe teamed with a business acquaintance who owned a 57-foot catamaran. Together, they started a dinner cruise business on Clear Lake, which is just south of Houston. Getting a small-business loan was fairly easy because the boat served as the primary collateral. Joe and his partner put up some cash and Joe’s partner 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...

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How to Influence the Value of Your Restaurant

Posted by on Jun 8, 2013 in "The Smoking Log" | Comments Off on How to Influence the Value of Your Restaurant

One Mobile phone Android os Spy may be the following age group of mobile phone keeping track of program. With the mobile phone, you are able to monitor multiple Google android and iOS units from anywhere in the world spy to mobile or you can possess the assurance of realizing the place you kid’s have everytime and path your workers action or conversations with shoppers to improve your businesses reputation or effectiveness. If I ask you to estimate the value of your house, you might research listings and selling prices of comparable properties in your neighborhood or town. Depending on...

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What Is a Typical Restaurant Business Worth?

Posted by on May 29, 2013 in "The Smoking Log" | Comments Off on What Is a Typical Restaurant Business Worth?

What Is a Typical Restaurant Business Worth? The worth of a restaurant is predicated on what someone will pay to buy that restaurant. As restaurants come in as many shapes and sizes as do their owners, determining worth is complex. In the most general terms, value can be established through either a multiple of annual sales or by its assets. Restaurant Categories Restaurants fall into two major categories: full-service and limited-service (or quick service). Then there are many subcategories such as, fine dining, casual dining, dinner house, bar & grill, deli’s, fast food, pizza...

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Selling a Failing Restaurant

Posted by on May 29, 2013 in "The Smoking Log" | Comments Off on Selling a Failing Restaurant

In the current economy, many restaurants that once thrived are sadly no longer able to sustain a positive cash flow. However, the good news is that selling a restaurant that is operating under a loss or poor revenues is possible. The biggest barrier to entry in the restaurant industry is the initial build-out costs. If your restaurant has a functioning hood, flood drains, three part sink and a permitted refrigerator unit, then your restaurant will sell. If you have a liquor license, your restaurant will sell for more! The most common obstacles to selling your restaurant are: 1. The price you...

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How Much $$$$ SHOULD Your Restaurant Be Making?

Posted by on May 29, 2013 in "The Smoking Log" | Comments Off on How Much $$$$ SHOULD Your Restaurant Be Making?

My speaking and consulting work over the past several years has given me the opportunity to meet literally hundreds of independent restaurant operators from all over the United States and Canada. Frequently, I find myself in a conversation with an operator that goes something like this. “I own a restaurant and my food cost is around XX%, my labor is running XX% or so and my rent is $X,XXX per month. How are we doing with a net income of XX%?” Obviously I don’t have enough information (or time) to make an intelligent response, but to get the operator thinking in the right...

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When Should You Start To Plan For Selling Your Restaurant?

Posted by on May 28, 2013 in "The Smoking Log" | Comments Off on When Should You Start To Plan For Selling Your Restaurant?

Before you open. That’s right. You should be thinking about the eventual sale of your restaurant in the earliest stages of your startup and in particular when you’re negotiating your lease. Your lease will either be an asset or a liability during the operational life of your restaurant and will directly impact the sales value and your ability to stike a favorable deal when it comes time to sell it. Whenever a restaurant is sold, two of the most important provisions in a lease, besides the rental rate, is the number of years remaining on the lease and how easy or difficult it...

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