We're an experienced, professional,  and confidential Restaurant and Fast Food Brokerage Company with an A+ rating at the Better Business Bureau.

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Are we the leaders in the industry? Absolutely not. Are we number one? Of course not. Are we the largest Restaurant Brokerage Company in the USA? Sorry, no again!   

 

We're not number one, we do not claim to be the leaders in the industry, and those that do, do it for a reason.

They're morally insecure. so they need to cast a net over "We are the Oldest, Largest, Restaurant Brokerage company in the USA". As if that will secure them clients, what a laugh. You know, like Morgan & Morgan.

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Yea, what happened to Binder & Binder? Law firms are a great example of this deceit. 

 

As soon as you hear or see that phrase, RUN, "run for your life"! If they're still doing it into their late 80's then they're really not that good at it are they? 

 

What we are is an honest, hard working entity, with years of Food & Beverage experience. We will sell your restaurant with confidentiality and professionalism! Yes, we will get you out, and do it quickly, confidently,  and most importantly of all, painlessly, and for far less then others charge for commissions.  3/5 program.

 

Naturally, this all depends on your mitigating factors. Gross sales, condition of your equipment, space, parking, your lease, your concept, your financial health and your landlord! These are the top bullet points that dictate what you can and will receive for a sale price from  potential buyers.

 

As Restaurant Brokers, we refuse more listings then we choose to take on. It makes little or no sense to take on a listing, if it doesn't make logical sense. The business will usually just sit on the market and generate no interest. 

 

The longer your business sits on the market and doesn't sell, you risk your customers or employees finding out your business is for sale. If your business doesn't sell for a long time buyers tend to think there is an underlying problem.

 

The object is to try to find a qualified experienced buyer fast! Restaurants take time to sell, they're not a necessity like food, clothing, and shelter.  Add the fact that there're many food and beverage business to choose from, makes selling your business, a challenge. Now add the fact that it has to be marketed in secret so the general public and your employees don't find out until you have a signed Purchase & Sale Agreement.

 

We have an extensive database of active buyers and sellers from years of selling restaurants with many new callers everyday. We do not sell Gas Stations, Autobody Shops or Beauty Salons, just Food & Beverage Related Businesses.

 

Food, menus, customer service, concepts and equipment can always be improved upon. No parking, bad landlords, troublesome partners, high rent, and terrible leases cannot. No one wants to be working for the landlord, and if you're in a predicament like this we'll tell you this right away after our assessment and free appraisal of your business.

 

A lease assessment and or negotiation, require knowledge and experience. Lawyers, Landlords, and leases are the three biggest deal killers in our industry. Often, hectic schedules of attorneys frustrate buyers and sellers to no end. High rent and greedy landlords refusing to negotiate also infuriate buyers and sellers, and will often kill a deal.

 

Please understand that Food & Beverage business usually takes a good amount of time to process. We work around other peoples schedules, Attorneys, City Hall, Selectman Schedule, ABCC Schedule, Accountants, the list is endless. This is why when we take your listing, the duration of that listing is a min of 6 months. Frustrated  inexperienced buyers often cancel or back out of a transaction because they're unaware of these mitigating factors.

 

There is a 15 day period for all escrow deposits returned on canceled transactions.

 

There's an assessment of your business on top of an evaluation that needs to take place during the listing process of your business.

 

Do you have a troublesome, hard to deal with partner? Is your wife emotionally attached after years of operating your business?  Do you owe money to the Department of Revenue? Are you behind on your rent? Are your Real Estate taxes up to date? So, if you owe, how much are you behind? Are your numbers verifiable?

 

 We understand these are very personal questions, however, if a broker does not ask them,  a buyer might, and you will be working your tail off for two months with a good buyer, only to have your offer die a dismal death before the closing if he or she doesn't like the answer. Selling your restaurant is easy, getting the buyer to the closing table is another whole story. That's where our experience is spot on!

 

We disclose and publish these reference points for you to help educate you at your listing appointment. Other brokers would not even dare to disclose or ask these so called deal killer questions, (well they may now that they have read this).

 

We hear it from customers (listing sellers), all the time. "Our previous broker never asked these questions".

 

Some brokers will just take your listing, sit back and hope they get lucky. Most Restaurant Brokers are ok, but what some are good at, is passing someone's headache or problem (if one exists) onto someone else, without first eliminating or fixing the problem.

 

This is not good if you are providing any owner financing, because you will never collect your  key money if there are hidden problems that arise after you sell that the buyer was not aware of.

 

An over priced business is a problem. Owing the landlord a great deal of back rent sometimes can be a problem.

It does not make well for the new buyer coming in, as the landlord may now be spooked or nervous of any applicant. That's where we shine. Working with Landlords and assuring them that our buyer is seasoned, vetted and qualified. 

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Owing the Department of Revenue a great deal of money is a problem.  (You will need to provide to the buyer a Certificate of Good Standing showing you owe no back meals taxes). Meals taxes can be paid online at www.mass.gov Once paid, you can print out your certificate of good standing.

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Paying 15% or higher of your monthly gross sales in rent can also be problem. Brokers, let alone buyers don't like surprises like this after weeks have been invested by both parties. These types of surprises (if not disclosed so they can be fixed) usually end up rendering your business unsellable, (unless fixed ). If not addressed, issues such as the ones mentioned above will kill a deal before the closing, usually after a substantial amount of work has been invested by you and the broker. This is why these questions need to be asked so we can help you prepare your business for sale.

 

In today's market buyers have many choices. Restaurants that are for sale usually will not attract qualified buyers without some form of creative owner financing. Conventional Banks do not lend money on Restaurants (The business) other than the SBA. Low interest loans from the federal government.

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Sellers who create an attractive deal, or the best deal will sell quickly in this market, this is a fact! 

 

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The North Shore Restaurant Group Staff!