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How to Buy a Restaurant for Sale – Tips and Considerations

Buying a restaurant that is for sale is never an easy task. With this in mind, not all restaurants that you will look at are going to be acceptable or even wise purchases, however with some good research you can find a great restaurant to purchase. You could also try working with a business broker to help you select the best match for your wishes and desires. You can search over 3,194 restaurants for sale at GlobalBX.com at http://www.globalbx.com/results2.asp?indSegId=48

When trying to determine if a restaurant is a good match for you, look at the location. You do not want a restaurant that is off in the middle of nowhere. You want a restaurant that has a very easy to access, busy location. If customers do not know you exist, or they cannot get to you then your restaurant will not do well. Location can be more important than the type of food served, the quality of the staff, and other aspects of the business. Never discount location in terms of importance.

Many landlords are hesitant to reassign a lease to a person who has little or no experience in running a restaurant. They may require that the previous owner remain on the lease, or several months of lease payments be made upfront. This could be required in spite of a contract that states the lease can be assigned or sub-leased. Try to negotiate nicely with the current landlord.

One of the most important things to realize about value is that it is in the eyes of the beholder. This means you should not take the word of the owner about what the restaurant is worth. Have the business appraised, and do some research on other similar restaurants and what they sold for. By doing your homework, you may find out that the price is absurd considering what you are getting, or you could be getting an incredible deal. The business seller wants to make a sale, so he may not necessarily tell you the entire truth.

Equipment should be carefully inspected. If you are purchasing a restaurant that is fully functional, you want all equipment to be functional as well. Don’t wait until you get hit with a repair bill for a freezer that went down overnight to really understand how important this is. Without proper inspection of the equipment you could be seeing repairs in the near future. However if broken equipment is discovered up front, you can ask the seller to have the equipment repaired as part of the sales contract. This will save you money and headaches upon taking over the restaurant.

One other important consideration is your experience in the restaurant business. If you have never worked in a restaurant, it is not a good idea to buy a restaurant where the owner plays owner, manager, chef, cook, dishwasher, cashier, and server. Instead, look for a restaurant where the owner works with the manager who runs the entire restaurant. If you have a strong background in restaurants then a very hands-on experience may be perfect for you. If you need a manager, ensure someone is in place, or else make sure you can hire someone as soon as you take over the business.

Buying a business is never easy, and buying a restaurant is especially difficult. Always work with an experienced business broker to achieve the best results possible and you will enjoy your purchase.

Increased Popularity of Furnished Rental Apartments

The best option for individuals or family members is to shift to a fully furnished rental apartment instead of owning a furnished apartment. Variety of options is available for choosing an apartment in Florida.

Following are few suggestions for choosing an apartment on rent in Florida:

1. Saves Time: It saves a lot of time and energy in shifting the heavy furniture and other utility items. You can shift easily by carrying things for your own personal use. It will make the entire process hassle free and smooth.

2. Security: You do not have to worry about the security reasons of your apartment on rent. The owner will make the necessary security arrangements without bothering you or your family members.

3. Frequent Travelers: These apartments are very useful for the frequent travelers. If you are a frequent traveler, then owning an apartment is of no use. You can shift easily as there is no tension of shifting heavy furniture or any other security concerns of your house.

4. Repairing Expenses: You can save a lot of money by staying away from the unexpected and immediate repairing issues that can occur anytime of the day. You are not responsible for any kind of repairs related to plumbing, electrical problems etc. for your furnished apartment.

All the above benefits are the only reason of the increased popularity of rental homes in Florida among the people. There are wide ranges of apartments available that can suit your requirement as well as the budget. The other important factor is that these rental apartments are situated at convenient locations and have variety of features for making your living pleasurable and secure.

How To Find The Right Scissor Lift To Improve Your Business

Scissor lifts are crucial to most businesses. They are utilized to transfer big boxes and materials from one region to the next. They are also used to store items on high shelves that are not able to be reached with a ladder. In some businesses having the right kind of lift will aid their business to run more efficiently.

There are steps that you will be able to take to make sure that you buy the proper model without having to spend more than what you would like to. The first step to this is to do your research. Make a list of the more standard producers and visit their web sites. Their site will give you all the data you want to know.

Look at the distinct models they sell, how much they are priced at, and what type of services they provide. Ask around and search for reviews from individuals who have used the company. Try to know what kind of troubles they have had and what the company did to repair it.

The next step you want to take is to acquire the right unit. You need to still have a list of at least two different manufacturers you wish to go through. They can be priced differently and it is up to you to figure out why. Create a list of the different features the unit needs to have. This list will assist you to know what you don’t wish to pay extra for.

It is easy for us to get caught up in what we want and to purchase something that appears great — but that will cut through our budget. Compare the prices of each brand and consider why one is better than the other. Make sure to take a few days to decide. Rushing into buying scissor lifts might get you a model that breaks in a matter of months.

How to Generate Business For Your Auto Body Franchise

Every business is feeling the pressures of our rough economy right now. Don’t let the economy keep you from success at your own franchise business. This is a hard time, but as a business owner you will need to keep positive and find new ways to improve. There are many ways you can improve, but you need to get the customers there first. So, if your auto body franchise needs more business, here are some ways that you can use to generate more business for your auto body franchise.

First of all you need to advertise for your franchise business in some way. There are many different ways to get the word out about your business. Your franchisor most likely offers some form of advertising, but you can also beef it up locally. You could contact a local radio station about getting an advertisement about your franchise location on it. You can also contact the local newspaper about getting an advertisement in it as well. You may even want to make some flyers to pass out or hang at public locations advertising your business. All of these are simple and cost effective.

Next you may want to offer a promotional deal. If possible you should offer a deal of some sort. For example, when someone gets paintless dent removal service they receive a certain amount off of auto detailing service or whatever you think will work and will also work for your budget. Remember, you may be giving them 10.00 off but they are spending more on the additional service that they weren’t going to get in the first place. People like DEALS!!!!!

If possible you should try to work with a charitable organization. You could get something worked out that a portion, even if small, of work done is donated to a reputable charitable organization. People like to know that you are doing something to help others and that they can help as well. Plus you will get extra attention for your business. Not only will you be helping a good cause but you will help your business as well.

Provide great customer service. Even if you are not getting as many people in as you would like, make sure you treat the ones who are there great! People talk A LOT! If someone comes to your auto body repair shop and receives great customer service, they will tell people about it. It’s called word of mouth advertising. The best part about this form of advertising is that its FREE! You just have to ensure that you and all of your staff are providing great service. Then not only will that customer return in the future but they will tell others about your auto body franchise!

Lastly, have a clean appearance on the inside and outside of your franchise business. Even if it’s from a road views, people want to do business with a place that is clean and well kept. That is another easy thing to maintain, don’t slack in the cleaning department.

These are a few things that should help generate more business for your auto body franchise!

How to Sell Your Home With Owner Financing THE RIGHT WAY!

How To Owner Finance Your Home

You’ve seen the real estate ads in the classifieds section of the newspaper: «Owner Financing Available» or «Owner Will Carry». An owner financed real estate transaction enables the buyer of the property to make payments directly to the seller.

This allows the buyer to purchase the real estate without having to apply for a mortgage from a bank or financial institution. The seller also has the option of selling the loan to an investor for cash.

Of course, there are lots of variables that work into a price offer including type of property, location, age of house, equity, is the buyer making the monthly payments, etc. These are just some of the things an investor likes to see. Investors buy all sorts of real estate notes and deeds of trust. Every house is different, every loan is different and every deal is different. Use the above list to make the loan more attractive to an investor.

ADVANTAGES OF OWNER FINANCING THE SALE

Sell Your Property For Your Desired Asking Price
A buyer may be perfectly happy to pay market value (and maybe more) for a house that requires a smaller down payment and that a bank won’t help them finance.

Charge a Higher Interest Rate Than a Bank Would Give
By charging a higher interest rate than a bank (say 7.5 — 8.5%) you are, in effect, increasing the overall sales price of the property, and making the note more attractive for an investor.

Faster Sell
You can sell a home with owner financing a lot quicker than with bank financing and there can be tax advantages in spreading the buyer’s payments out over time (talk with an accountant about that).

Great Monthly Cash Flow Investment
Many owners simply like the idea that they can receive a monthly income and a high interest rate from a property even after they have sold it — and no longer have to worry about repairing leaky roofs or replacing dead water heaters.

Sell The Note To An Investor
A seller who owner financed the deal also has the option of selling that note to an investor for cash either right after closing or after waiting a number of months or years (give me a call or email and I can get you more information about selling your note).

DISADVANTAGES OF OWNER FINANCING THE SALE

Cash At Sale = Small Down Payment
Seller receives only a small or even no down payment.

Buyer Won’t Pay
The seller takes the risk that the buyer will not make payments and will have to be foreclosed on. (Forte Properties uses a loan sevicing company to act as an intermediary when selling Owner Financed homes in Austin Texas.)

Due-On-Sale Clause
If I owner finance my house won’t I activate the Due-On-Sale Clause in my mortgage and if I’m only getting a small down payment and monthly installments how will I pay the bank loan back?

The Due-on-Sale Clause is a provision in a mortgage or deed of trust that allows the lender to demand immediate payment of the balance of the mortgage if the mortgage holder sells the home. It is probably the most talked about, feared and misunderstood topic in real estate.

You can also do a simultaneous closing, where a few days after the close of the house with the buyer you receive a check for the note from an investor.

If you’re going to owner finance your home and you know you want to sell the note this is a great way of doing it because the investor is there for the whole process and you don’t have to start over again 6 months later with another appraisal, inspection, credit check, etc.

REAL ESTATE PROFESSIONALS — Providing owner financing could mean the difference in having your client sell their house quickly or having it sit on the market for months, years or not selling it at all.

Asking a seller to offer owner financing to buy their home can be a tricky proposition. Sellers often reject the suggestion of owner financing because nobody has explained the benefits or proposed owner financing as a way to sell the home. Most sellers’ knowledge is limited to traditional bank mortgages.

http://www.GreatHomesTexas.com — Austin Owner Finance Specialists