Advantages and Disadvantages of Specializing as a Restaurant Broker
Specializing as a restaurant broker offers advantages such as expertise, higher referral rates, and diverse opportunities. However, it may come with drawbacks like smaller deal sizes. Niche marketing strategies and specialized organizational structures can aid in maximizing success. Utilizing CRM systems and effective listing acquisition methods are key in this specialized field.
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The Advantages of Being a Specialized Restaurant Broker Become the expert and the go to person which results in out-performing your competition in obtaining the listing. Can do more sales volume due to economies of sale (don t have to go through a learning curve each time you deal with a new industry if you re a general business broker). Becoming the expert gives you the opportunity to do many Brokers Opinion of Value for a fee, getting appointed by the Bankruptcy Court to sell businesses In bankruptcy, and Expert Witness opportunities. Get a large number of referrals from former clients, landlords, attorney s and accountants.
The Disadvantages of Being a Specialized Restaurant Broker Deal size is smaller and therefore commissions are smaller (we offset this to some extent by closing a large volume of deals and at least a couple of related commercial building sales yearly). The sophistication level of buyers and sellers may not be that of a general business brokerage.
Qualities of Niche Marketing Specialize in 2 or 3 categories. For example in retail, instead of covering all retail types hone in on a few types like Auto (body shop, service & parts) Laundry (dry cleaners, coin laundry) Salon (beauty, facial, tanning). It helps to have a background in what you specialize in for credibility. Restaurant Realty has found a niche in the restaurant and related commercial building industry and works expeditiously to continue its growth and expansion.
Restaurant Realty Companys Organizational Chart Principal Broker Project Manager Buyer Manager Marketing Manager Southern CA Agents Northern CA Agents Transaction Manager Internet Coordinator
How RRCs System Works Utilization of Zoho s CRM Web Based Contact Management System This management system is tailored to our specific use by our team and can be modified when needed. We have set up and use these main sections. Leads, Contacts, Listings, Inquiries, Reports & Activities.
How We Obtain Listings Referrals from clients, other brokers, attorneys, accountants, landlords & lenders Search Engines - Google, Bing, Yahoo, etc Social Media Linkedin, Twitter, Facebook, etc Mailings, drop-offs & email blasts
How Buyers Get Information On Our Listings 94 % of RRC s Listings are Confidential in nature. Buyers find our listings on 13 websites including our own. Buyers must complete an NDA prior to receiving listing info. There are 6 places on our website where they can access our NDA, shown below as well as 2 locations on the individual listing page itself.
How Buyers Get Information On Our Listings Buyers can sort our listings in 6 ways. By Property type, County, RRC#, Region, selecting our grid view, or our standard list layout.
How Buyers Get Information On Our Listings With all of our search options the user chooses the perimeters and can combine both property type and county for targeted results. Here are a few examples:
Completing our NDA Our NDA is completed online, or can be emailed to buyers. When these are submitted they go directly to our Buyer Manager. Included in this NDA are screening questions. If qualified then the Buyer is given the name and address. If they have further interest we get them a package (lease, equipment list, financials - 3 years tax returns and year end P & L s, year to date financials including recast financials and sales tax returns, etc). If they have further interest a Back of House Tour is setup.
How We Sell Listings Internet Marketing Restaurant Realty utilizes it own unique website as well as 13 others to promote, engage and create interest in our listing. These additional websites are, Restaurants for Sale Online, BizBuySell, Bizquest, BizBen, BuyBusiness, Loopnet, BusinessBroker.net, BusinessMart, GlobalIBX.com Business for Sale Exchange, Craigslist, Cabb.org and BusinessForSale.com
How We Sell Listings Search Engines Google, Bing, Yahoo, etc. Restaurant Realty s exclusive eNewsletter. This newsletter is deliver via email to our database of 40,000+ buyers every week. Its content is created from Restaurant Realty s Listings and also includes informational content that we find useful.
How We Sell Listings Marketing Eblasts created for designated listing. These Eblasts are intended to give listings traction. The registered buyers who receive a specific blast would have been looking at other similar listings within the same region and approximate price range.
Other Marketing Items RRC Utilizes Restaurant Rap and Restauranteur of the Quarter which is located in the News/Articles tab of our website.
Other Marketing Items RRC Utilizes Restaurant Dealmaker An Insiders Trade Secrets for Selling a Restaurant, Bar and Club Restaurant Realty has been featured in articles in the news and we are proud to share these articles on our website.
Other Marketing Items RRC Utilizes Webinars through CABB Teaches Classes at IBBA and CABB Network through CABB, IBBA, California Restaurant Association and Golden Gate Restaurant Association. Speaking at Colleges, Trade Associations and Other Organizations Expert Witness Work.
Expert Witness With extensive experience as an expert witness, Steve works regularly with many attorneys and the courts regarding valuations, leases, acquisition and disposition matters.
