Craft Beer & Pizza Restaurant with Real Estate
Location
Industry
Business Broker
Situation
The owner had worked in the restaurant industry all his life. He bought the restaurant years ago and was forced to relocate when the lease terms changed. To avoid this business disruption in the future, when relocating, he chose to buy the real estate upon which he built a beautiful restaurant. For years, the restaurant was a local favorite with strong financials. When it came time to retire, the owner found BayState Business Brokers through an online search.
BayState Business Brokers’ Approach
Bil Zarch has considerable experience in brokering the sale of restaurants and food-related businesses. He developed the marketing strategy to target individual buyers and private equity groups with restaurant holdings.
The business listing received a lot of attention, with many non-disclosure agreements (NDAs) signed and multiple offers received.
Results
With multiple offers, business broker Bil Zarch guided the owner through the process of evaluating prospective buyers. He worked hard to keep to timelines, diligently following up on open items to keep the process moving forward to close. The seller was pleased to achieve his goal of selling both the restaurant and the associated real estate for $3.5mm so he could move onto the next chapter in his life: retirement.
