Selling, Buying Used Restaurant Equipment Tips: When Selling Or Buying A Restaurant | BizBen Discussion | penrosent.cn

Selling, Buying Used Restaurant Equipment Tips: When Selling Or Buying A Restaurant

Comments & Replies: 2     Views: 5403     Posted By: Joe Ranieri  Joe Ranieri, Business Broker: LA, Orange Counties

The restaurant business is a tough business to be in, no one can dispute that, and so it's imperative that an owner's equipment is in good working condition. A new owner should make sure that the restaurant's equipment is in good working order before they close escrow. We discuss this topic.

Topics: Buying A Business, Selling A Business     Tags: buying a business, deal structures, selling a business



The restaurant business is a tough business to be in, no one can dispute that, and so it's imperative that an owner's equipment is in good working condition.

A new owner should make sure that the restaurant's equipment is in good working order before they close escrow, because after escrow is closed, dilapidated equipment and costly repairs will come out of their pocket.

A new owner may take possession of the business and later decide to do upgrades to their equipment.

Tips For Selling:

1. Have equipment manuals and warranties (if applicable).

2. Clean the equipment, remove grime and grease as best as possible.

3. Call a restaurant equipment dealer, and especially inquire about their shipping fees.

4. Consider selling it yourself, possibly on craigslist, an ad in a restaurant equipment magazine, putting an ad on a bulletin board at a restaurant supply store.

5. Be realistic about pricing, because restaurants are constantly changing hands or going out of business, and so there could be a lot of equipment on the market at any given time.

Tips For Buying:

1. Contact a local restaurant equipment dealer.

2. Make sure that the equipment is in good working condition before buying.

3. Inquire with the health department to make sure that model of equipment has not recently been flagged and will be okay to put in your store.

4. Receive equipment, if from a dealer, that has at least some limited warranty, like 60-90 days.


This is very true. I had an escrow close and the Seller owned the business for over 20 years. When he purchases the business there were no requirements of having a grease trap in the kitchen and the burners on the commercial stove did not work . The New Buyer has to install and repair, prior to getting a health permit. This delayed the escrow closing for about 3 month. Due to the unexpected expense.


  Helpful Resources To Assist In Selling And Buying California Businesses
Diane Boudreau-Tschetter: Escrow & Bulk Sale Services - CA

California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.

Shalonda Chappel: Escrow & Bulk Sale Services - Southern California

Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.

Helen Yoo, New Century Escrow - Escrow Services In Southern California

New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.

William F. Ziprick, Attorney: Legal Services For Buyers And Sellers

Through creative problem solving, attention to detail, accessibility, & understanding that unnecessary delay is often a deal killer, I work closely with my clients and other professionals to consistently achieve a high rate of closings. Office: 909-255-8353, Cell: 509-951-7230.

Ralph Santos, Business Broker Specialist: AG亚洲国际apphome Health, Hospice, Health Care

Using my MBA and my perseverance I will make things happen! I provide business brokerage niche services specializing in the hospice and AG亚洲国际apphome health care agency industry in the Los Angeles County or Ventura County areas. For either buying or selling assistance please phone or email me today.

Elizabeth McGovern: Escrow Services - San Francisco Bay Area

McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.

Mike Brewer: Liquor License Broker, ABC Consulting Service

Liquor license brokerage and consulting services. We provide: Alcohol License Transfers Application Consulting & Processing, Liquor License Purchases & Sales, City Zoning Permits & Land Use Entitlements, Public Convenience or Necessity Findings and Letters. Phone Mike Brewer direct at 800-437-1100.

Steve Zimmerman: Restaurant Broker Specialist, California

Steve founded Restaurant Realty in 1996. He has personally sold/leased over 1000 restaurants, bars & clubs, & completed over 3000 valuations. The of "Restaurant Dealmaker- An Insider's Trade Secrets For Buying a Restaurant, Bar or Club" available on Amazon. Reach Steve direct at 415-945-9701.


  Related Articles, Events, Blog Posts, Discussions, Videos, Interviews
Thinking About Selling A Small Business? Know These 8 Factors That Matter

The likelihood of selling a business is often determined by external factors in the marketplace. Here are eight influences on how easy, or difficult it might be when selling a small California business. Peter Siegel at 925-785-3118 (BizBen ProSell Program) explains these factors for owner/sellers.

Selling My Business: How Many Business Brokers, Agents Should I Interview?

Choosing a business broker to sell your business can be crucial to the success of it selling. A broker who you have an exclusive listing agreement with, which I recommend vs. open listing, will essentially be your partner during the listing term in getting your business sold. Joe Ranieri explains.

Can A Business Seller Back Out Of Escrow If They Simply Change Their Mind?

Can a seller of a small business back out of an ongoing escrow? Probably, yes, it all depends how far along the escrow is, which will dictate how messy things will get for both owner & buyer. Joe Ranieri (Southern California Business Broker) gives his feedback with others on this BizBen Discussion.

Business Seller Mistakes Near The Close Of Escrow Can Tank A Deal To Sell

Let's be honest, typically it takes a while (6 months to a year) to sell a business, from listing to close of escrow, and so it's common that many sellers are anxious as the close of escrow nears with a buyer. Joe Ranieri (Business Broker) examines common seller mistakes owners should stay clear of.

Business Purchase Financing Expert Peter Siegel - Tips On Proving Cash Flow

What are the actual "provable" adjusted net earnings (cash flow) of a small to mid-sized business being purchased? Buyers need to look carefully at all financial info for the "real" adjusted net income/cash flow. Peter Siegel, MBA (BizBen ProBuy & ProSell Lead Facilitator) at 925-785-3118 explains.

Broker Explains Allocation Of The Purchase Price When Selling A Business

There are a handful of key asset categories in allocating or breaking down the purchase price allocation of a California business sale. Allocation is required to complete the transaction. In this blog post Lee Petsas (Orange County Business Broker) at 714-363-0440 covers asset allocation classes.

Due Diligence Checklist: 10 Key Items To Investigate When Buying Businesses

Buying a California small business involves reviewing due diligence checklists so buyers can learn enough to determine whether to proceed with a deal. Here's a due diligence checklist. Peter Siegel, MBA (BizBen ProBuy Advisor & Business Purchase Financing Expert) at 925-785-3118 shares his views.

Purchase A Small Business With Limited Or No Cash: Financing Tips For Buyers

Purchasing a business with no money down can be difficult, but not impossible. Financing a business purchase or down payment can often be accomplished with these strategies offered from Peter Siegel, MBA (Business Purchase Financing Expert, ProBuy & ProSell Program Advisor with BizBen) in this post.


Escrow Town And Country Southern California
Bill Ziprick Legal Advise
Escrow Services From Helen Yoo New Century Escrow
Escrow Services Diane Boudreau-Tschetter
Facebook
Twitter
Linkedin
Vlogs and Podcasts
Instant Email Alerts On BizBen
BizBen ProSell Program
Business For Sale California Stats
California Educational Events Buying And Selling Businesses
BizBen Blogs And Articles


BizBen - Where California Deals Get Done! 888-212-4747
7172 Regional Street #364 · Dublin, CA. 94568
BizBen · Copyright © 1994 - 2020, All Rights Reserved



Clost Login


Please confirm your registration by clicking the link we've sent to .

If you can't see it, please check your junk mail folder.

If you have any problems registering, or need assistance with your new BizBen User Account please phone BizBen Customer Support at 888-212-4747.



First Name:*
Last Name:*
Email Address:*
Confirm Email:*
Create Password:*
Confirm Password:*
Phone:
(   
 


You Are A:
Individual
 
Intermediary
 

Email Address:
Password:
 

500 New & Refreshed Detailed Postings Daily
Over 2500 Resources Available On BizBen
Since 1994. Where California Deals Get Done!
Can A Business Seller Back Out Of Escrow If They Simply Change Their Min...
Read More News
Business Purchase Financing Expert Peter Siegel - Tips On Proving Cash F...
Read More News