Emerald Coast

Restaurant Broker: Why you need a broker to help you sell your restaurant

You have the idea, you have the drive, you’re ready to dive in on the journey to opening your own restaurant – but where to start? This is where finding a restaurant broker comes in. A restaurant broker is a specialist who knows all the ins and outs of the process to sell, purchase, and own a restaurant. If you are ready to make the investment in owning and operating a restaurant, working with a restaurant broker is an important step that you do not want to skip. According to the National Restaurant Association, one in three restaurants will fail in their first year. Starting strong with the support of a professional is vital to ensuring your restaurant has a successful base on which to grow.

Why work with a restaurant broker instead of a real estate agent?

Unlike other real estate agents or even more generic brokers, restaurant brokers focus exclusively on restaurants and are experienced with the many specific aspects involved in restaurant transactions. They have additional training and education, and have to earn a state-specific license with an exam to practice as a restaurant broker.

What does a restaurant broker do in the buying process?

Buying a restaurant is not a simple process and includes many more steps than other real estate purchases. A restaurant broker will have extensive understanding and experience with these types of transactions and can guide you through the process. There are a number of benefits that a restaurant broker brings to the table when you are trying to purchase a restaurant, including:

  • Knowledge of the local restaurant market: They will have an understanding of what types of restaurants exist, what the market for new openings is like, open or soon-to-be open locations, and how to make your idea fit into the demographic and market you are hoping to reach.
  • Connections with the people already in the business: A restaurant broker will know not only other local restaurant owners but also those related to the industry that you will want to connect with, like vendors, accountants, lawyers, and more.
  • Understanding of special approvals: Before opening your restaurant you will need to be approved by and for a number of different things, including permits, proper zoning, the health department, and a liquor license. Your broker should know which approvals you will need and how to get them in time for your opening.
  • Support during negotiations and with financials: There is a huge amount of paperwork and processes to follow during the purchase of a restaurant, and an experienced broker can help streamline a complicated process.

When you are ready to go all in on your own new restaurant, start with a restaurant broker who can be your partner and work with you to make your dream a reality.

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