EATS Broker attended the Georgia Association of Business Brokers (GABB) Spring Conference last month. The conference was to educated Business Brokers about the issues for Business Brokers conducting sales transactions after Covid-19 depending on if they represent the buyer, seller, or both.
The biggest take-away for EATS Restaurant Brokers was the different issues a Seller’s Brokers should be concerned about vs issues a Buyer’s Brokers would be concerned about.
Dominique Maddox Founder and Restaurant Broker for EATS Restaurant Brokers says, “ over my 8 years of being a Restaurant Broker I have seen a range of issues that affect deals. The majority of my deals I work in a Dual-Agency capacity, this experience has helped me understand both Seller and Buyer Broker needs and wants”.
Working with a trained professional Business Broker or Restaurant Broker can make all the difference of a deal getting closed or terminated. EATS Restaurant Brokers list some issues for Seller’s Broker vs Buyer’s Broker.
Issues for Seller’s Broker:
- Terms of lease-including option years
- What assets are attached to the building
- Security deposit to Landlord
- Security interest to Landlord
- Lease-asset or liability
- What lease exist
- Personal guarantee
- Assignment prohibition
- Franchise issues
Issues for Buyer’s Broker:
- Value of lease to a business
- Insurance Requirements
- Terms of lease-including option years
- What assets are attached to the building
- Security deposit to Landlord
- After-sale liability
- Lease-asset or liability
- What leases exist including amendments
- Personal guarantee
- Assignment prohibition
- Assignment Fee
- SBA lease requirements
- Franchise issues
- Landlord approval requirements
Let us show you how Restaurant Brokerage is done with flavor!
For more information on the restaurant market and other available consulting services or restaurant valuations, contact Dominique Maddox at 404-993-4448 or by email at [email protected]. Visit our website at www.EATSbroker.com
