What
You Should Do To Get Your Restaurant, Bar Or Club
Ready For Sale
The
following are suggestions on how to help facilitate
the sale of your restaurant, bar and/or club:
1) Have a copy of
your most current health inspection report and
make sure that all of items that the health
department asked to be corrected have been
completed.
2) Remove all
items from the restaurant that are not included
as part of the sale i.e. any personal wall
hangings, computers, artifacts, etc. If it is
necessary to keep some of these items in place
until after the close of escrow please make sure
that your equipment & fixtures list to not
include these items.
3) Bring the
deferred maintenance up to date prior to putting
the business on the market. When buyers see
items that need fixing then they often wonder
about the condition of things they can’t see.
4) Have the
following items ready for a perspective buyer:
a.) current
premises lease and any other leases the
buyer will be assuming,
b.) two years
most current tax returns, year-to-date
income and expense statement and balance
sheet,
c.) a list of
the fixtures and equipment that are included
as part of the sale and
d.) copies of
all current licenses - business, ABC, etc.
5) Make sure the
facility is clean throughout. The cleanliness
level of the facility has a major impact on the
buyers initial impression which will carry over
on his/her thinking in evaluating the entire
facility.
Restaurant
Realty Company Lists The Great American Music Hall
Please
find below a newspaper article which appeared in the
San Francisco Examiner July 28, 1999 edition.
Wanted Buyer who
will keep spirit of Great American Music Hall
alive
By Craig Marine of
the Examiner Staff
Claire Brouwer, president of the Great American
Music Hall and co-majority owner with her
husband, Kurt - Who is co-partner of Brouwer &
Janachowski, a Bay Area investment advisory firm
- said that burgeoning family life has caused
her to seek buyers for the venerable San
Francisco nightspot.
“I’d love to keep running it, but I have a
20-month-old son and another baby due early next
year and I just can’t put as much time into the
business,” Brouwer told The Examiner on Tuesday.
“I’d like to find someone who will keep the
spirit of the club alive.”
Brouwer, who bought the club in 1992, enlisted
the help of real estate agent Steven Zimmerman,
who has sold more than 100 properties - mostly
bars, restaurants and night clubs - in the past
four years. Zimmerman said he is showing the
club Wednesday to a potential buyer who prefers
to remain anonymous.
"I anticipate getting this done within six
months," Zimmerman said. "It's a unique property
with a great history and I'm sure there will be
a lot of interest."
Neither Zimmerman
nor Brouwer has set an asking price for the
property, which at times since its opening in
1907 has served as everything from a bordello to
its current incarnation - a music club featuring
eclectic acts, from alternative rockers to Van
Morrison.
Brouwer said she
has had informal talks with representatives from
the Bill Graham Presents organization to
supper-club owner Harry Denton.
Zimmerman added
that Brouwer has final say on any potential
buyers. "She's the one who's going to give the
ultimate thumbs-up or thumbs-down," he said.
"She's very loyal to her staff and hopes that
whoever purchases the property will be able to
keep them on as employees. She's not in any
rush, so I think she's going to find a buyer
that's right for her and right for the music
scene in San Francisco.
