Restaurant Development Services
Selling Your Restaurant
As our motto says, “Food is our only business”. We don’t sell any other type of business besides food , hospitality and restaurant use. We can assist in the evaluation of the business and setting the selling price for your restaurant business. With our customer base, we can get your business into the market quickly with qualified buyers.
Confidentiality is very important when selling an existing business, let alone a restaurant. We discreetly market your restaurant and have our customers sign a Non-Disclosure Agreement to control knowledge from your employees and customers. Our experience can sell your restaurant without all of the pitfalls that are usually involved in the sale of a business.
Leasing A New Location
Site Feasibility – We are able to work with you to are able to analyze potential restaurant sites concerning traffic, zoning, utilities, demographic profiles, site work, building evaluation, market rents and competition.
Lease Review & Representation – Who is looking out for your interests when you are presented a lease to sign? Leasing is a very long term and expensive commitment and needs to be addressed as such. Many of your rights as business owner can be compromised if you do not have an eagle eye for the details.
It’s very important to understand that the normal commercial lease doesn’t take into consideration of the time and amount of build out required for a restaurant space. A thorough lease review by our staff will highlight any potential pitfalls in the contract. Rent commencement and lease commencement are two entirely different things. Assignment clauses, option years, rent abatement, tenant improvement money, and personal guarantees are items that contribute to your restaurant’s success or failure- and how you are held liable. We are not Attorney’s so you should have an Attorney ready to finalize your lease.
As the leasing market fluctuates in its highs and lows, it is important to know the market, what various landlords and management groups are willing to offer or what missteps could cause your business to falter.
Purchasing A Restaurant Location
If you are looking for a business to purchase and take over, we have many types for you to consider. You’ve already taken the first step by engaging a real estate and restaurant broker. We have the knowledge and expertise to help you in buying a restaurant. Prepare the materials below so you can meet with him or her in person to discuss the type of restaurant you want.
Prepare And Bring Your Financials – Many of our restaurant listings are confidential and cannot be shared unless you qualify financially for both the purchase and the lease. If you plan on borrowing money, you will need a personal financial statement for the bank or Seller.
Review Your Credit Score – Landlords are extending credit when you apply for a lease and they will pull your credit. Make sure you’re in the best possible position to get the restaurant space you want.
Prepare a resume’. Landlords will want to see an experienced operator to lease their space. If your experience is minimal, make sure that you have an experienced partner that will satisfy the Landlord.
Financing Your Business Purchase – If you plan to finance or use investor’s money for the purchase of a restaurant business, secure this ahead of time. We advise that you set up a corporation or LLC and create an account where your future funds are deposited. You don’t want to attempt to purchase a business only to find that you do not have the cash available. The biggest problem in opening a restaurant is being underfunded.
Restaurant Tenant Representation
What is tenant representation or tenant rep? Simply, it is the process of hiring us to scout for and identify potential locations for your operation. Tenant representation is important because you have someone representing your best interests and not the landlord’s. Think of it like having a buying agent when buying a house. We can offer exclusive representation in the market for your concept and help you ask the tough questions to highlight any potential drawbacks to the location. Once we get to know your product and your customer base, we will search out the locations that best suit your needs, set up tours of potential sites and represent you in the transaction negotiation.
Pad Site Development & Leasing
If you represent a restaurant or retail group looking for Washington, Maryland or Virginia Pad Site locations, we can help to broker a mutually beneficial long term lease on a variety of exclusive properties. RBD has been engaged by owners to lease raw and developed commercial land, as well as by retailers and service providers to find locations suitable for the development and construction of their branded facility.
Understanding of the development, permitting, and construction process, demographic modeling, traffic count data, and historical growth trends enable us to determine a property’s highest and best use.
