New BizEx Business For Sale: Established Turnkey Family Medical Practice Shelli Margolin just launched a new listing: http://www.bizex.net/listing/507 Established Turnkey Family Medical Practice Asking: $320,000 * Gross: $0 * Net: $0 Well established adult medical practice with 4,000 active patients. Doctor has a family emergency and must liquidate immediately. This is a tremendous opportunity for [...]
New BizEx Business For Sale: Established Turnkey Family Medical Practice
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/507
Established Turnkey Family Medical Practice Asking: $320,000 * Gross: $0 * Net: $0
Well established adult medical practice with 4,000 active patients. Doctor has a family emergency and must liquidate immediately. This is a tremendous opportunity for one or two doctors to step into a modern, established practice. 90% PPO and 10% Medicare.
The practice is being sold based upon the assets, primarily equipment and facility.Formally a group practice consisting of pediatrics, adult medicine and chiropractic. The group reorganized into individual practices last year, thus financial data from 2011 is still being determined and won
New BizEx Business For Sale: Westside Jeweler Buy/Sell Precious Metals Shelli Margolin just launched a new listing: http://www.bizex.net/listing/477 Westside Jeweler Buy/Sell Precious Metals Asking: $74,950 * Gross: $325,404 * Net: $59,928 Store front Jeweler in a very high income westside beach area, located in a popular shopping center with strong drive-by traffic and available parking. [...]
New BizEx Business For Sale: Westside Jeweler Buy/Sell Precious Metals
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/477
Westside Jeweler Buy/Sell Precious Metals Asking: $74,950 * Gross: $325,404 * Net: $59,928
Store front Jeweler in a very high income westside beach area, located in a popular shopping center with strong drive-by traffic and available parking. There aren’t many precious metals retailers in the area who do a wholesale trade. Yet there is a high demand with an older wealthy population who want a local retail location. The store has been in operation for less than a year and is already profitable.
The sellers have another location, and with an ill child, are unable to manage both stores. The are looking for a quick sale to give them more time to care for their child. The sellers will assist the right buyer with a second hand dealer’s license, in order to expedite a fast sale.
* Fantastic location * Wealthy demographic * 25,000 in Furniture, Fixtures & Equipment (FF&E) * Profitable in less than a year
*** The financials have been normalized to reflect a full year in business. The business has only been open 9 months.
Interested parties please register at www.bizex.net or contact Shelli Margolin at 310 882-2200 ext 128. http://www.bizex.net/business-broker/shelli-margolin
Shelli Margolin Email: smargolin@bizex.net Office: (310) 882-2200 ext 128 Blog: http://www.bizex.net/blog Web: http://www.bizex.net/business-broker/shelli-margolin
BizEx.net | Lic# 01484102 | 4551 Glencoe Ave., Suite 210, Marina del Rey, CA 90292 | Phone: (310) 882-2200 | Toll-Free: (888) 60-BIZEX | Fax: (310) 882-2201 | Web: www.BizEx.net
New BizEx Business For Sale: Successful Thai Restaurant Rockland, NY Shelli Margolin just launched a new listing: http://www.bizex.net/listing/461 Successful Thai Restaurant Rockland, NY Asking: $449,950 * Gross: $565,733 * Net: $184,266 VERY successful Thai restaurant just 18 minutes outside of New York City with full liquor license and small patio. This Thai restaurant has been [...]
New BizEx Business For Sale: Successful Thai Restaurant Rockland, NY
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/461
Successful Thai Restaurant Rockland, NY Asking: $449,950 * Gross: $565,733 * Net: $184,266
VERY successful Thai restaurant just 18 minutes outside of New York City with full liquor license and small patio. This Thai restaurant has been in the same location for almost 30 years. It has a high profit margin due to low rent and very efficient management. The cost of goods sold (COGS) averages about 22%. Opportunities are in catering and increasing advertising. Family possibly moving back to Thailand and wife (owner) wants to stay at home with kids and newborn.
Turn key E-2 Visa qualified Fully loaded restaurant with over $170,000 in FF&E Bar and patio Net earnings are 32.6% of gross sales Affluent NY/NJ community Major street in downtown area Surrounded by major corporations and business parks Good Yelp and New York Times reviews All permits and licenses are valid and in order Lovely culturally appropriate decor Low lease rate at 7.2% of gross Great location Fun, happy place to work
Owners have operated a separate catering truck business. The have sold off the trucks and had kept catering business separate from the restaurant. The restaurant sales figures don’t reflect the catering business. A new owner could do a good catering business through the restaurant.
Interested parties please register at www.bizex.net or contact Shelli Margolin-Mayer at 310 882-2200 ext 128.
http://www.bizex.net/business-broker/shelli-margolin
Shelli Margolin Email: smargolin@bizex.net Office: (310) 882-2200 ext 128 Blog: http://www.bizex.net/blog Web: http://www.bizex.net/business-broker/shelli-margolin
BizEx.net | Lic# 01484102 | 4551 Glencoe Ave., Suite 210, Marina del Rey, CA 90292 | Phone: (310) 882-2200 | Toll-Free: (888) 60-BIZEX | Fax: (310) 882-2201 | Web: www.BizEx.net
New BizEx Business For Sale: Restaurant-Beer & Wine License & Hookah Shelli Margolin just launched a new listing: http://www.bizex.net/listing/469 Restaurant-Beer & Wine License & Hookah Asking: $99,950 * Gross: $240,000 * Net: $52,000 Armenian restaurant with beer & wine license (41) and hookah permit priced for quick sale. Keep this restaurant as an Armenian style [...]
New BizEx Business For Sale: Restaurant-Beer & Wine License & Hookah
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/469
Restaurant-Beer & Wine License & Hookah Asking: $99,950 * Gross: $240,000 * Net: $52,000
Armenian restaurant with beer & wine license (41) and hookah permit priced for quick sale. Keep this restaurant as an Armenian style eatery with hookahs or change the theme all together. Great value for a fully built out restaurant with beer and wine and private patio in the San Fernando Valley. Owner moved out of state and can’t manage restaurant staff remotely. Wants to sell asap to support opening new restaurant out of state.
* On high traffic, major street in North Hollywood * 100 seats indoor * 24-36 patio seats * All permits up to date * Inventory will be determine with offer * Negotiate new long term lease
Interested parties please register at www.bizex.net or contact Shelli Margolin at 310 882-2200 ext 128.
Shelli Margolin Email: smargolin@bizex.net Office: (310) 882-2200 ext 128 Blog: http://www.bizex.net/blog Web: http://www.bizex.net/business-broker/shelli-margolin
BizEx.net | Lic# 01484102 | 4551 Glencoe Ave., Suite 210, Marina del Rey, CA 90292 | Phone: (310) 882-2200 | Toll-Free: (888) 60-BIZEX | Fax: (310) 882-2201 | Web: www.BizEx.net
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 those assets is the key to selling a restaurant quickly.
Price is not the only determining factor in procuring a quick sale. You need to get into the “buyer mindset” and make sure a buyer sees the same value in your restaurant as you do. Here are some no nonsense step to getting your restaurant sold fast:
1. Price – Price – Price!!!
Just like anything else… the better the deal, the faster someone will snatch it up. Some factors that go into determining the price are location, FF&E replacement values, permits and licenses.
2. Make it easy to understand -
If you want to sell your restaurant above and beyond the asset value, make sure your books and records are in order. If someone can’t understand your books and records, they generally aren’t going to pay much for your restaurant.
- Put together a list of inventory and other assets such as furniture, fixtures and equipment (FF&E) and list their replacement costs.
- Make sure you have straight forward profit and loss statements for the last three years
- Find a way to prove cash sales (start keeping a handwritten record on the side, if necessary)
- List out your cost of goods sold (COGS)and monthly food waste costs, if possible
- Have any employment contracts organized and ready for review
- List out any debt that will need to be dealt with in the sale
3. Write up your story-
How and why you opened this restaurant, what are the opportunities and the obstacles and why you are selling. Also, list how you advertise to customers. Quote some reviews, etc.
4. Clean it up-
Make sure chairs, tables and décor are in good shape. The kitchen and bathrooms should be spotless and free of clutter and all equipment should be operational. Your staff should be friendly & knowledgeable and the general environment should be pleasant to customers. Also note that messy inventories tend to scare away buyers.
5. Review your lease- (unless you are selling property with the business)
Make note of your expiration date, what extension option you have and any transfer clauses. A buyer will either assume your current lease or negotiate a new one depending on the factors within your lease agreement.
6. Get a restaurant broker-
A good restaurant broker will help you get organized and help you determine the best price to expedite the sale. They will also advertise on the plethora of websites (I, for instance, advertise on at least 100 local, national and international sites dedicated to selling restaurants and businesses). A good restaurant broker will also discreetly market to people within the restaurant industry, help you negotiate the best deal and, most importantly, make sure the deal closes.
There is a lot that goes into selling a restaurant, much more than many other types of business. A restaurant needs be positioned for sale to get it in front of the right buyers. We currently have over 3,000 buyers in our database alone. For a free consultation, please don’t hesitate to call Restaurant Broker, Shelli Margolin-Mayer at (310) 882-2200 ext. 128. http://www.bizex.net/business-broker/shelli-margolin
Price is not the only determining factor in procuring a quick sale. You need to get into the “buyer mindset” and make sure a buyer sees the same value in your business as you do. Here are some no nonsense universal step to getting your business sold fast: 1. Price – Price – Price!!! Just [...]
Price is not the only determining factor in procuring a quick sale. You need to get into the “buyer mindset” and make sure a buyer sees the same value in your business as you do. Here are some no nonsense universal step to getting your business sold fast:
1. Price – Price – Price!!!
Just like anything else… the better the deal, the faster someone will snatch it up.
2. Make it easy to understand -
If someone can’t understand how you do business and how you derive your net profit, they generally aren’t going to buy your business at any price.
- Make sure you have straight forward profit and loss statements for the last three years
- Put together a list of inventory and other assets such as furniture, fixtures and equipment (FF&E) and list their replacement costs.
- Have any employment contracts organized and ready for review
- Organize your customer/client lists
- List out any debt that will need to be dealt with in the sale
3. Write up your story-
How and why you got started in this business, what are the opportunities and the obstacles and why you are selling. Also, tell the story of how your get and service customers/clients, etc.
4. Clean it up-
Make sure the physical business environment will present well. (Unless, of course, you are selling an internet business or a service that won’t prompt someone to visit you.) Serious buyers will generally want to meet with you at your place of business. Also note that messy inventories tend to scare away buyers.
5. Review your lease- (unless you are selling property with the business)
Make note of your expiration date, what extension option you have and any transfer clauses. A buyer will either assume your current lease or negotiate a new one depending on the factors within your lease agreement.
6. Get a business broker-
A good business broker will help you get organized and help you determine the best price to expedite the sale. They will also advertise on the plethora of websites (I, for instance, advertise on at least 100 local, national and international sites dedicated to selling businesses). A good business broker will also discreetly market to people within your industry, help you negotiate the best deal and, most importantly, make sure the deal closes.
There are many factors that determine the length of time it takes for a business to sell, price being the most important. Plus, there is a lot that goes into positioning a business for sale and getting it in front of the right buyers. We currently have over 3,000 buyers in our database alone. For a free consultation, please don’t hesitate to call me, Shelli Margolin-Mayer, at (310) 882-2200 ext. 128. http://www.bizex.net/business-broker/shelli-margolin
New BizEx Business For Sale: Famous Clothing Store in Santa Monica Shelli Margolin just launched a new listing: http://www.bizex.net/listing/458 Famous Clothing Store in Santa Monica Asking: $295,950 * Gross: $292,327 * Net: $91,950 Well known and successful trendy clothing store on Main St. in Santa Monica. Excellent location with a solid customer base and an [...]
New BizEx Business For Sale: Famous Clothing Store in Santa Monica
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/458
Famous Clothing Store in Santa Monica Asking: $295,950 * Gross: $292,327 * Net: $91,950
Well known and successful trendy clothing store on Main St. in Santa Monica. Excellent location with a solid customer base and an industry expert willing to train the right buyer.
Characteristics: – High foot traffic in hip tourist zone – Well known for trendy fashions at reasonable prices – Almost 25 years in business – Still profitable in bad economy – 35% COGS – Base inventory turns over 3x/yr – Low labor costs – Reasonable lease rate – Lovely interiors/build-out – $50,000 in inventory – Takeover fashion-insider supply chain
Opportunity: – Marketing! – seller does very-very little marketing – Internet sales – seller doesn’t do any on-line sales – Seller has a multimillion dollar clothing manufacturing and merchandising background. Seller is willing to give extensive training to assure the success and reputation of the store.
Interested parties please register at www.bizex.net or contact Shelli Margolin at 310 882-2200 ext 128.
Shelli Margolin Email: smargolin@bizex.net Office: (310) 882-2200 ext 128 Blog: http://www.bizex.net/blog Web: http://www.bizex.net/business-broker/shelli-margolin
BizEx.net | Lic# 01484102 | 4551 Glencoe Ave., Suite 210, Marina del Rey, CA 90292 | Phone: (310) 882-2200 | Toll-Free: (888) 60-BIZEX | Fax: (310) 882-2201 | Web: www.BizEx.net
Drowning in business debt!?! Even when a company’s sales start increasing, debt can eat away at the profits… More and more small business owners are finding that profits are going to servicing their debt and keeping their business operational. In such cases, an option is to sell the business through a short sale. Especially if [...]
Drowning in business debt!?! Even when a company’s sales start increasing, debt can eat away at the profits…
More and more small business owners are finding that profits are going to servicing their debt and keeping their business operational. In such cases, an option is to sell the business through a short sale. Especially if a business owner is burnt-out, looking at shuttering the business and declaring bankruptcy.
Declaring bankruptcy is different as a small business owner. It’s not just an anonymous bank or bureaucratic phone company that is owed money; it’s often suppliers and vendors with whom there are long-term personal relationships. And often, friends and family have invested in the business or lent large sums of money to help keep the business afloat.
A short sale can provide creditors at least a portion of the funds owed to them, while alleviating the small business owner of having a bankruptcy tied to their name and credit. It can also save the jobs of the employees.
Special note for franchise owners – If the business is under a franchise agreement and the franchise payments are grossly in arrears, there is a chance the franchisor can take back the business, leaving the owner without a business and still holding all the debt. It is in the interest of the franchisor for the business to sell and bring in a new owner who will start paying royalties.
How it works –
An experienced and competent business broker will package the business based upon its net profit and assets. The debt and other non-operational expenses will be added back to the net profit and an industry appropriate multiple will be determined. If the business sells for less than what is owed, it is a Short Sale. If it sells for more than what is owed, the owner will receive whatever is left over after all the debt is paid.
In a normal sale, an escrow is used primarily to protect the buyer from successor liability – any debt attached to the business. In a short sale, the escrow process also aids the seller in settling the business’s debt.
Once all the debt is established, the escrow officer will prepare a seller’s estimated statement reflecting all secured and unsecured debt. Secured debt includes tax liabilities, private liens, judgments, etc. Unsecured debt includes private loans. If the sale price covers all the secured debt, the remaining funds are distributed pro rata to the unsecured creditors. If the sale price doesn’t cover all the secured debt, remaining funds are distributed pro rata to the secured creditors.
All creditors will need to agree on the payout in order to close the deal. Since the alternative is usually bankruptcy for a small business owner, creditors would prefer to receive something rather than nothing. Thus, they generally will agree to the pro rata payout.
Although short sales are messier than regular business transfers, they are a win-win for the buyer, the seller and the creditors. The buyer gets a good deal on the business; the seller avoids bankruptcy and is alleviated of their debt while their creditors get something rather than nothing.
Enlist an experienced business broker. They can help you overcome most obstacles and discreetly bring you qualified buyers. We currently have over 3,000 buyers in our database alone. For a free consultation, please don’t hesitate to call me. Shelli Margolin-Mayer, Business Broker: (310) 882-2200 ext. 128. I’m happy to help.
By Shelli Margolin | BizEx Business Broker Profile | 310-882-2200 Ext 128By Shelli Margolin, Restaurant Business Broker 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 [...]
By Shelli Margolin, Restaurant Business Broker
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 want vs. the actual market price
2. Messy, incomplete or none existent books and records
3. Deferred maintenance
4. Not being up to code
5. Expiring lease
6. Time and energy
Preparation is the best way to overcome these obstacles:
1. Be prepared to carry a note, instead on insisting for all cash. If you price your restaurant too high or too low, you won’t get serious responses. Tailor your expectations to the reality of the market.
2. Your books and records can be your best friend in selling your restaurant. They will highlight such things as Discretionary Earning which can actual cause your business to show a positive cash flow for a new buyer. Any non-operational expense, such as your car payments or cell phone can be added back to your bottom line.
Your books and records can also be your enemy, if they are not kept organized and up to date. Additionally, many businesses are opting to take cash instead of credit cards. It is very typical that cash transactions aren’t recorded. However when selling your restaurant, it is to your advantage to show all your revenue in order to receive a higher selling price. Keeping a simple hand written or spreadsheet record of cash sales can often be sufficient documentation for a buyer, …but only if those cash sales are real.
3. Make sure all your major equipment and floor drains are in working order and are up to code. Otherwise be prepared for a price that will reflect getting those items working and up to code.
4. A new buyer will need to go through a County health inspection. If your restaurant isn’t up to code, it will not sell!
5. Location! Location! Location! If your lease is expiring this year, you may want to think about getting an extension or exercise your option to make your restaurant more attractive to serious buyers.
6. If you are planning on trying to sell your restaurant by yourself, be prepared to spend a lot of time and energy on the marketing, looky-loo’s and a barrage of questions from would-be buyers. Selling a restaurant is a full-time job and proper marketing can get expensive to successfully sell it yourself.
The decision to sell is as much an emotional decision as a business one. Get some help by enlisting an experienced business broker. They can help you overcome most obstacles and discreetly bring you qualified buyers, so you can your spend your time and money running your restaurant and living your life.
Enlist an experienced business broker. They can help you overcome most obstacles and discreetly bring you qualified buyers. We currently have over 3,000 buyers in our database alone. For a free consultation, please don’t hesitate to call me. Shelli Margolin-Mayer, Business Broker: (310) 882-2200 ext. 128. I’m happy to help.
By Shelli Margolin | BizEx Business Broker Profile | 310-882-2200 Ext 128
New BizEx Business For Sale: Restaurant with Great Potential Shelli Margolin just launched a new listing: http://www.bizex.net/listing/433 Restaurant with Great Potential Asking: $675,000 * Gross: $0 * Net: $0 Restaurant opportunity! Fantastic potential at a major intersection in the center of Glendale. Owner is willing to carry $475,000 with $150,000 down interest only, with a [...]
New BizEx Business For Sale: Restaurant with Great Potential
Shelli Margolin just launched a new listing: http://www.bizex.net/listing/433
Restaurant with Great Potential Asking: $675,000 * Gross: $0 * Net: $0
Restaurant opportunity! Fantastic potential at a major intersection in the center of Glendale. Owner is willing to carry $475,000 with $150,000 down interest only, with a balloon payment in 3 years. He’s willing to do this because he knows the business will be successful. Thirteen flat-screen TVs and a magnificent full kitchen in place.
The facility is currently only open in the evenings, in order to maintain its 47 liquor license, entertainment and other permits. The owner is selling due to a partnership dissolution and he has other businesses to run.
FF&E and Amenities: Full kitchen 13 flat screen TV Small stage Piano Banquet Room Large Full bar Full outside patio All licenses required licenses and permits On-site office
Interested parties please register as a buyer at www.bizex.net then call 310 882-2200 – Arthur Kessler at ext 126 or Shelli Margolin at ext 128.
Shelli Margolin Email: smargolin@bizex.net Office: (310) 882-2200 ext 128 Blog: http://www.bizex.net/blog Web: http://www.bizex.net/business-broker/shelli-margolin
BizEx.net | Lic# 01484102 | 4551 Glencoe Ave., Suite 210, Marina del Rey, CA 90292 | Phone: (310) 882-2200 | Toll-Free: (888) 60-BIZEX | Fax: (310) 882-2201 | Web: www.BizEx.net
