The Advantages Of
Reporting All Of Your Sales
By
reporting all of your sales you will have a better
opportunity of maximizing the value of your business
when you sell your business for the following
reasons:
1. The
value of your business is largely determined by
the financial statements you will be presenting
to a prospective buyer. If all of your sales are
reported you will show higher profits which will
increase the value of your business as the value
of your business is largely determined by a
multiple of yearly profits.
2. A
prospective buyer will view your business with
more credibility and is more likely to believe
the representations and disclosures you are
making regarding all aspects your business in
terms of the operating, marketing and financial
aspects of the business.
3. It
will be easier for the buyer to get third party
financing such as bank loans, SBA loans or
private investor financing.
4. The
buyer will be much more objective in evaluating
the future upside potential of the business.
5. You
will sleep better at night!!!!
When Is The Best Time To Sell My Restaurant, Bar
And/Or Club
I frequently get asked
this question and my response is always that it
doesn’t matter what time of year you put your
business on the market. If you are working with an
effective broker that maximizes the following
marketing practices such as: regular newspaper
advertising, mailings, fax campaigns, targeted
telemarketing, Internet research, etc. you should be
able to sell your business anytime of the year. In
1998 I sold several businesses in December and well
as in January.
An aggressive broker based on my experience is busy
all year long though tax season, holiday season,
etc. if the broker is constantly marketing his
inventory. It is true that there are lulls such as
during the last two weeks of the year, the couple of
weeks before income taxes are due etc. but by and
large excellent brokers are busy all of the time.
Restaurateur of the Quarter - Jack Krietzman Of
Jackson Fillmore Trattoria (S.F.) And Cucina Jackson
Fillmore (San Anselmo)
Last year I sold Jack
Krietzman a restaurant in San Anselmo which he
transformed into the popular Cucina Jackson
Fillmore. (337 San Anselmo Avenue, San Anselmo
415-454-2942) Jack, born in New Jersey, started
working in the restaurant industry at the age of 18
in Boston as a delivery boy for a pizzeria. He moved
back to New Jersey and became a waiter at Conrad’s
Steak House in Atlantic City. After a year traveling
in Europe, he moved to California and took his first
job as a cook at McArthur Park under chef Gertz Boje,
from 1975-77 and then had a stint at the infamous
Vanessi’s on Broadway, from 1977-79, under chef
Giovanni Leone.
He opened his first restaurant, Little Italy, in Noe
Valley in 1979, where he was chef and partner. In
1985 he sold his interest in Little Italy, and
opened Jackson Fillmore Trattoria, in the Pacific
Heights neighborhood of San Francisco. He
subsequently opened and closed two other San
Francisco restaurants, LaFiammeta, and Vinoteca, in
the early 90’s, all while running the ever popular
Jackson Fillmore Trattoria. In December 1998 he
opened Cucina Jackson Fillmore in downtown San
Anselmo with his wife Donna.
Both of Krietzman’s restaurants are very successful
with waiting lines every night. His success is a
result of his talent for adapting rustic Italian
faire for today’s health-conscious diner with
regional specialties that you would find in tiny
Italian neighborhood establishments. His wine list
is weighted with Italian selections laid out in an
easy to read and logical order. Jack’s love of
cooking and attention to details in the front and
back of the house produces excellent results as
evidenced by his successful businesses.
