Article provided by: restaurantbusinessbroker.ca
When looking to buy or sell a restaurant be sure to work with the right restaurant business broker. Our restaurant broker can help you make wise financial decisions. We will help you with all the factors involved in a restaurant business purchase or sale including lease agreements and sanitation requirements so that you can avoid making expensive upgrades to your restaurant.
What should a good restaurant business manager provide?
First of all, an excellent restaurant business manager should provide clients with access to all properties that are on sale or lease. While some brokers sell either existing business or lease properties, we have access to restaurants for sale and commercial properties that you could lease and convert into a restaurant.
Our restaurant business broker has an excellent understanding of lease clauses. We understand that our clients often leave with the terms of their lease agreements for a decade or longer. Therefore, we provide them with the knowledge they need to decide whether to extend their lease or sell their business. We also inform them of the period of liability in case things do not work out as planned.
One of the biggest pitfalls of new restaurant ownership is the lack of knowledge regarding the licenses that are required to open a restaurant. Fortunately, we know all the permits that you will need to get your restaurant business up and running.
When you choose us to be your restaurant business broker, we will not merely help you to find some space for your restaurant, but we will also link you with attorneys, contractors, architects, and expediters in the restaurant business.
How can I get the most from my restaurant broker?
When working with a restaurant broker, there are a few key factors that you should keep in mind. First, your restaurant business broker should expose you to all the premises that meet your requirements. One of the benefits of working with us is that we negotiate in the best interest of our clients. We give our client the freedom to cancel non-satisfactory agreements.
Should I hire one or multiple brokers?
Many people make the mistake of hiring multiple brokers thinking that it would give them access to more properties. The truth is that hiring multiple brokers is a bad idea because it creates a “race to sell” situation where each broker hurriedly looks for any property to sell to you rather than investing adequate time on looking for the right property.
It is advisable to hire a restaurant broker who can work with you on an exclusive basis. This involves having an agreement with a broker to work on your behalf for a specific period. Exclusive representation ensures that the broker invests adequate time on finding the property that meets your requirements.
Terms of Agreement
A significant benefit of working with our restaurant business broker is that he does not lock you into a long-term agreement even when you are unhappy with it. Our clients have the right to cancel their contracts at any time.
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