Restaurant Realty Company’s Team Approach Gets The
Deals Done
Restaurant Realty
Company, which is headed by the efforts of myself
(Steve Zimmerman, President/Broker) is successful
because of our team approach to getting deals done.
A competent, trained member of our staff handles
each phase of the process, including listing the
business, marketing the business, screening
potential buyers, making the deal, and closing
escrow.
The Listing Stage – First, I meet with the
seller and tour the business. Then, I review the
financials and premises lease to determine the value
of the business with the seller. I collaborate with
the seller to determine which features to highlight
when marketing their business. In addition, I advise
the seller on how to best prepare his or her
business for sale—for example, taking care of
deferred maintenance, paying attention to
housekeeping and health department issues, and
getting their financials in order.
The Marketing Stage – Our comprehensive
marketing program is tops at exposing listings to
potential buyers. We do extensive newspaper and
Yellow Pages advertising, Internet and website
marketing, and a weekly mailing program. Sally
Packman, our Mailing Coordinator, sends out 1,500
mailings weekly. Every 3 months nearly 20,000
restaurant, bar and club owners receive our
listings, newsletter, and other information. Cara
Crandall, our Marketing/Information Systems
Coordinator, oversees all of our advertising and
marketing activity. Daily, she maintains our website
and updates the 7 other websites on which we have
listings. She also administers our email broadcast
that goes out every other week to over 7,500 buyers
in our database
regarding our new, price-reduced, featured and
coming-soon listings. Every time we have a price
reduction, she prepares an email to inform all of
the buyers that have previously completed a
confidentiality agreement for that particular
listing. Currently, we are setting up a system so
that every time we receive a new listing, every
buyer that has registered online with specific
criteria for the type of business they are looking
for will be notified by email if the new listing
matches their acquisition criteria. Jacob Zimmerman,
our Director of Technology, develops and oversees
all of our management information systems
activities. We have a state-of-the-art management
software system that gives everyone in our office immediate
status updates on listings, all buyers in our
system, all deals in the works, and a calendar of
all our activities including buyer appointments.
The Buyer Screening Stage – When buyers
contact us regarding one of our businesses for sale,
they will be greeted by Julie Riboli or Kathy Page,
our Buyer Coordinators. Before any information is
given to a prospective buyer, the buyer is required
to sign a confidentiality agreement. Then they are
screened by Julie or Kathy to determine if they are
operationally and financially qualified. If
qualified, they will be instructed regarding the
rules of confidentiality. We keep track of each
buyer in our management system so we have access to
all of our buyer’s history at any time.
The Deal Making Stage
– Once the buyer has seen the business and has
reviewed the business’s lease, equipment list and
financials and wants to make an offer they will
contact me, Steve Zimmerman, or Nicki Evatz, our
Sales Manager, who will work with the buyer through
the deal making and closing stage. The buying
process includes: 1) writing the offer, 2) getting
the offer accepted, and 3) the buyer completing the
due diligence process, including physical
inspections, review of books and records, and
landlord approval for an assignment of the existing
lease or negotiating a new lease. After the due
diligence process is signed off by the buyer, escrow
is opened. The buyer increases his deposit and
we begin processing the alcoholic beverage control
(ABC) license transfer if applicable.
The Closing Stage – Steve and Nicki also
oversee this process that includes directing the
buyer to do the following: obtain a business
license, set up a resale permit with the State Board
of Equalization, set up an EDD account, take final
inventory between buyer and seller, set up liability
insurance, file a fictitious business name
statement, change over utilities, and final
inspection.
Together, we create a well-managed structure to the
process in order to ensure a smooth transaction for
you.
***Restaurant Realty’s team is well equipped to
handle the sale of your business. ***
Jeffrey’s
Hamburgers: Serge
Karanov
Jeffrey’s
Hamburgers, located in downtown San Mateo, has
become a local favorite with their delicious
hamburgers, French fries,
milkshakes, and onion
rings. They were voted Best Hamburgers in San Mateo
County
by the San Mateo County Times and they were voted
Top Five Hamburgers in the Bay Area by the San
Francisco Chronicle.
Serge Karanov, owner of this 1950’s style diner, is
expanding his business. He recently worked with
Restaurant Realty Company to purchase a new space in
Menlo Park to open a new Jeffrey’s Hamburgers at 888
El Camino Real.
Jeffrey’s
Hamburgers is
the perfect
place to get
the
gourmet burger taste without
the gourmet price, the
gourmet wait,
or the small gourmet-portion sizes. Their high
quality meat, combined
with the fact that they let you dress your burger
the way you like it with the fresh toppings at a
walk-up bar, make for the perfect combination. Thank
you Serge for sharing these
wonderful burgers
with a few
more of us!
Restaurant Realty Company wishes Serge continued
success on all of his current and future endeavors.
