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Buyer Answers
Registration for Buyers
How do I register for a free buyer account?
All buyer accounts are 100%
free. To register click on the "Buyers" tab
and select "Buyer
Registration" from the sub-header. To
register you need to include your full name,
email address, phone number, primary region
of interest, and you will create a password
to access your account.
How do I post a free business wanted ad in
the buyer guide?
You must
register for a free buyers account in order
to post a free business wanted ad. Once you
register you will be taken to a form
that allows you to include a listing
heading, detailed description, areas of
interest, as well as some other features. To
protect buyers from being spammed, we only
allow active registered sellers and brokers
to contact buyers.
How do I subscribe to free automatic email
updates?
When signing up
for a free buyer account you are subscribing
to the monthly eNewsletter update and
automatic email updates in the area of your
primary interest.
How do I subscribe to the free Monthly
eNewsletter?
When signing up
for a free buyer account you are subscribing
to the monthly eNewsletter. If you just
wanted to only sign up for the eNewsletter
please visit the
Monthly Newsletter section of the
website and type your email address and
click on the "Join" button.
Do I need to register to contact sellers?
No! Anyone
visiting the website that is interested in a
listing for sale or lease can contact
sellers by filling our the online inquiry
form. You may not solicit listings for your
own purposes.
What are the advantages of registering?
Registering is
completely free and gives you some helpful
tools to help you in the buying process
including free automatic listing matches,
free business wanted listings, the ability
to track listings of interest, and more!
Account Management for Buyers
How do I do I find a restaurant for sale?
You can start
from the homepage and use the search tools
available to narrow your search type. You
can also log into your account before doing
searches so you can track your favorite
listings.
How do I update my buyer account information?
Login to your account from the "Buyers"
tab. Once you are logged in click on "Modify
Account Profile," type your new contact
information into the fields you want to
update, and click the "Update" button.
How do
I search the website?
Our website has
a number of different search functions. The
best place to start is on the homepage. If
you are looking for a general search you
should use the two drop-down select bars to
choose the type of business you are looking
for and the region you are interested in. If
you are looking to narrow your search, visit
the "Advanced Search" section of the site
where you can narrow your search by region,
business type, sale type, price range,
square footage, seating capacity, revenue,
cash flow, lease amount, as well as keywords
in the listing.
Listing Database Access
How do I get more information regarding a
listing?
To get more information regarding a listing
you should start by making an online inquiry
which is emailed directly to the listing
contact. On each listing there is a form
that says "I would like more information"
which you should complete with your full
name, proper email address, phone number and
a message. Below this form you will also
find the "Listing Contact" information with
the name of the seller or broker and
additional contact information. It is
recommended that you follow-up all serious
inquiries with a phone call if the number is
available. Restaurants For Sale Online posts
all information the seller or broker wants
included on the listing. We will not provide
additional information if it is not on the
listing.
What does the Advanced Search Tool Allow me
to do?
If you are
looking to narrow your search, visit the
"Advanced Search" section of the site where
you can narrow your search by region,
business type, sale type, price range,
square footage, seating capacity, revenue,
cash flow, lease amount, as well as keywords
in the listing.
How do I contact a seller/broker listing?
To get more
information regarding a listing you should
start by making an online inquiry which is
emailed directly to the listing contact. On
each listing there is a form that says "I
would like more information" which you
should complete with your full name, proper
email address, phone number and a message.
Below this form you will also find the
"Listing Contact" information with the name
of the seller or broker and additional
contact information. It is recommended that
you follow-up all serious inquiries with a
phone call if the number is available.
Restaurants For Sale Online posts all
information the seller or broker wants
included on the listing. We will not provide
additional information if it is not on the
listing.
Why hasn't the seller or broker responded to my
inquiry and what can I do to get more
information?
There are a
number of reasons the seller may not have
responded. Make sure you included the exact
right email address and phone #. If you are
one character off that email or phone call
will not get back to you. If you haven't
heard back within a reasonable period of
time, make a follow-up phone call to make
sure they got your inquiry. Often times if a
deal is in the works on the listing the
seller or broker my not respond because they
want you to keep thinking about the listing
without knowing that it may not be available
in case a deal falls through. This is a
psychological part of the buying and selling
process. A phone call could help in this
situation as well.
What is the cost to search the restaurant
for sale database?
Searching is
100% free.
General
Questions for Buyers
How do I make a suggestion to the website?
The best way to
make a suggestion to us is to send us an
email.
How often is the website and database
updated?
The
database is updated every business day
although sometimes there is a delay due to
large volume of new listings or database
modifications.
What kind of financing is available for
buyers and owners?
There are
a number of financing options for buyers.
Restaurants For Sale Online does not handle
the financing directly. To get details on
the options available please visit the
Restaurant Financing section of the
website.
What is the average asking price of a
listing on your site?
Our most recent
survey of asking prices for 2007 showed a
median price of $240,000 for a restaurant
business. Every listing is different based
on a variety of factors such as condition of
the facility, location, and lease terms. The
median survey is conducted excluding
listings that include real estate. Real
estate values should be factored into the
equatioin if it is included with the sale of
the business.
Do I need a restaurant broker to complete a
transaction?
No. You don't
need a broker, however if you are looking
for the transaction to actually be handled
by a third party because you aren't sure
what needs to be done or don't feel
comfortable doing it yourself, then it is
highly recommended. A qualified third party
such as a business broker, commercial real
estate agent, transaction attorney, or other
third party is recommended. Restaurants For
Sale Online is not a broker and does not
handle any part of the transaction. Our role
is strictly to connect buyers and sellers
via online leads generated from marketing
efforts.
What types of listings do you have on your
site?
Our listings
include all food service business
opportunities. Most of our listings are
restaurants, bars or nightclubs. Some other
food service opportunities include delis,
bakeries, catering companies, juice bars,
ice cream and frozen yogurt shops,
convenience and liquor stores, and more.
Listings are posted by owners, business
brokers, and other intermediaries such as
lawyers and accountants.
What is the buyers guide section?
The buyers guide
section includes listings posted for free
buy buyers ads. Active sellers and brokers
have access to contact buyers that have
posted these ads.
What is the Restaurants For Sale Guide
section?
The Restaurants
For Sale Guide section is an easy way to
quickly search all listings for sale by
region.
What is the franchise guide section?
The franchise
guide section includes opportunities for new
franchise locations. If you are looking to
start from scratch, you can make inquiries
to existing franchise operations if you are
interested in being affiliated or starting a
new location.
How do I remove myself from receiving matching listing
emails?
Removing
yourself from "matching listings" is as
simple as a click. At the bottom of each
email click on the "unsubscribe" link. If
for some reason the link does not work for
you, please
email us and you should be removed
within one business day.
Is Restaurants For Sale Online a brokerage?
No. Restaurants
For Sale Online is not a brokerage. We have
no stake in the sale of any business listed
on this site other than we hope to provide
quality leads to sellers. We receive no
commission from any business sold. We simply
act as a marketing tool by bringing buyers
and sellers together. If you are interested
in working with a broker, please check out
the business brokers directory to find
specialists in restaurant related
opportunities.
How do I remove myself from receiving the monthly
eNewsletter?
Removing
yourself from "matching listings" is as
simple as a click. At the bottom of each
email click on the "unsubscribe" link.
I can't find a restaurant I'm interested in,
what else can I do?
If you are interested in buying a
restaurant and you can't find one that looks
right for you on our site, we recommend
signing up for "matching listings" in your
region of interest. You can also contact a
local broker that specializes in restaurants
that may have some ideas for you.
Seller Answers
Registration for Sellers
How do I
list my restaurant for sale?
Visit the
Restaurant Seller Center by clicking on the
"Sellers" tab. Decide on the listing option
that is best for you can click on the
"Sign-Up Now" button below the option you
would like. You will then be taken to the
sign-up form which will walk you through the
seller registration process.
How do I pay for
my listing and how much does it cost?
You pay for your
listing online using a credit card. We
prefer Visa and MasterCard but we do also
accept American Express, and Discover Card.
Listing prices start at $49.95 per month for
a standard listing. Featured listings are
$69.95 per month and Spotlight listings are
$199.95 per month.
How do I get listed on the homepage?
To get listed on the
homepage you must sign-up for the Spotlight
listing option which is $199.95 per month.
How do
I protect my business if the sale is
confidential?
When filling
out the listing form, you can reveal as much
or as little information about your
restaurant as you wish. Some of the ways to
keep your restaurant's identity confidential
would be to list with a generic name (i.e.
Rather than using the restaurant's name use
a catchy title like "Fine Dining
Restaurant"). You can also use a generic
address. (ie. Rather than the actual address
use "South of Market, San Francisco")
How do I get my photo in the search results?
To get a photo
in the search results you must be signed up
as a Featured or Spotlight listing. Standard
listings will show a camera icon next to a
listing but will not show a photo in the
results. However all listings can upload up
to 6 photos which are included on the actual
listing view page.
How do I list multiple listings?
If you are a seller and want multiple
listings you only need one account. To start
follow the stand registration process by
listing one listing. Once your account is
setup you can add more listings from within
your account. If you are a broker please
visit the "Brokers" tab for broker account
options.
How long does my listing last on the
website?
When you list with Restaurants For Sale
Online you are signing up for a monthly
subscription which automatically renews each
month until you cancel your listing.
How long does it take for my listing to
appear online it?
Listings are generally reviewed within a
few hours on the same business day you
submit your listing. If you don't see your
listing online within 1 business day please
send us an
email which should include the name on
the account and when the listing was
submitted. This email should come from the
email account you signed up with.
Can I include pictures, images, or video
with my listing?
Yes, Yes and
Yes! Each listing allows for up to 6
photos/images. If you are trying to give
your listing maximum exposure and your sale
is not confidential you probably want to
include as much information as you can.
Additionally, if you have a video for your
listing you can include that as well. To
include a video you must upload it to
YouTube and copy the code for the video and
post it into your listing detailed
description.
Account Management for Sellers
How do I make a changes to my listings and
account?
Visit the
Restaurant Seller Center by clicking on the
"Sellers" tab. Login to your account using
the email address and password you created
during your registration. Click on "Account
Manager" to make changes to your account.
Click on "Listing Manager" to make
changes to your listings.
How do I retrieve my password to access my
account?
In order to
retrieve your password, visit the "Sellers"
tab and click on the "Forgot Your Password"
Link in the login area. This will take you
to a new screen. Type in your email address
that you used for your account and click the
"send now" button. Check your email box to
recover your account password.
How do I update my contact information?
Visit
the Restaurant Seller Center by clicking on
the "Sellers" tab. Login to your account
using the email address and password you
created during your registration. Click on
"Account Manager" or "Manage and your
contact information". Make the necessary
changes to contact form and click the
"update" button. Changes should take effect
immediately if entered properly.
How do I update my billing information?
Visit the
Restaurant Seller Center by clicking on the
"Sellers" tab. Login to your account using
the email address and password you created
during your registration. Click on "Manage
billing information." Make the necessary
changes to the billing information form and
click the "I agree to the terms and
conditions" button. Changes to billing
information may take up to 2 business
days to take effect. You will receive a
confirmation email if the new billing
information is accepted. We must gain a $1
authorization on billing updates for the new
card to be put in place.
How do I contact registered buyers in my
area?
Visit the
Restaurant Seller Center by clicking on the
"Sellers" tab. Login to your account using
the email address and password you created
during your registration. Click on "Buyers
Database" sub-header link or "Search buyers
wanted listings" link. Search for buyer by
region of interest using the simple search
tool. Browse through the buyers in your
region. You can call buyers with the numbers
provided or email them using the online
form.
Listing Management For Sellers
How do I make changes to my listing?
Visit
the Restaurant Seller Center by clicking on
the "Sellers" tab. Login to your account
using the email address and password you
created during your registration. Click on
"Listing Manager" sub-header link or the
"Manage and view your Current Listings"
link. Click on the "Edit" link next to
the listing you want to see the listing
form. Make necessary changes and submit the
form. Changes should take effect
immediately.
How do
I upgrade my listing?
Visit
the Restaurant Seller Center by clicking on
the "Sellers" tab. Login to your account
using the email address and password you
created during your registration. Click on
"Listing Manager" sub-header link or the
"Manage and view your Current Listings"
link. Click on "Upgrade" link next to
the listing you want to upgrade. Decide
which type of upgrade you want and click on
the appropriate "click here to upgrade"
link. Upgrades are processed within 2
business days and are subject to payment
approval.
How do I upload photos/images to my listing?
You
can upload up to 6 photos/images to your
listing. Visit the Restaurant Seller Center
by clicking on the "Sellers" tab. Login to
your account using the email address and
password you created during your
registration. Click on "Listing
Manager" sub-header link or the "Manage and
view your Current Listings" link.
Click on the "Manage Pictures" link next to
the listing you want to add or manage
images. Click on the "Browse" button to
browse through your hard drive documents to
find the appropriate file and select "open"
when you located the file. You can include a
description by completing the "Image Title"
field. Click the "Upload" button to complete
the upload.
How do I view statistics on my listing views?
Visit the
Restaurant Seller Center by clicking on the
"Sellers" tab. Login to your account using
the email address and password you created
during your registration. Click on "View
Full Manager" sub-header link or the
"Manage and view your Current Listings"
link. Click on the "Stats" link next
to the listing you want to view stats for.
How do I view email inquiries on my listing?
Visit
the Restaurant Seller Center by clicking on
the "Sellers" tab. Login to your account
using the email address and password you
created during your registration. Click on
"Listing Manager" sub-header link or the
"Manage and view your Current Listings"
link. Click on the "Inquiries" link
next to the listing you want to view
inquiries for. Inquiries should also be sent
to your email on file. Please check your
SPAM folder if you are not receiving
inquiries in your inbox. You can change
settings in your email box to make sure all
emails come through.
How do I increase the response to my listing?
One way to increase response is to try
and upgrade your listing to a Featured or
Spotlight listing if you currently are
utilizing the standard option. To do this,
visit the Restaurant Seller Center by
clicking on the "Sellers" tab. Login to your
account using the email address and password
you created during your registration. Click
on "Listing Manager" sub-header link
or the "Manage and view your Current
Listings" link. Click on "Upgrade"
link next to the listing you want to
upgrade. Decide which type of upgrade you
want and click on the appropriate "click
here to upgrade" link. Upgrades are
processed within 2 business days and are
subject to payment approval. You can also
try changing your listing to include more
details that will draw a potential buyer in.
If the sale is not confidential try adding
pictures to get better response.
How do I add a video to my listing?
General Seller Questions For Owners and
Sellers
How do I value the business and put an
asking price to it?
Two valuation
models used in the industry are the gross
sale and cash flow multiple models. Based on
a sample of over 3000 listings taken from
our website we have pretty good evidence
that these multiples are widely used. Keep
in mind that these are just rules of thumb
and vary widely depending on the variables
of the restaurant.
Gross
sale multiple: 40%-60% of yearly
gross sales. Keep in mind that listed
price does not generally reflect actual
selling price. Business brokers will
usually suggest a multiple closer to 50%
depending on the businesses
marketability.
Example:
Assumption 1: $300,000
yearly gross sales
Assumption 2: 50% gross
sale multiple
$300,000 x 50% = $150,000
Asking Price
Cash flow multiple: The
cash flow multiple is utilized generally
when a business has substantial
profitablity. The cash flow multiple
ranges from 150% to 350% of the yearly
cash flow.
Example:
Assumption 1: $100,000
yearly cash flow
Assumption 2: 250% cash
flow multiple
$100,000 x 250% = $250,000
asking price
How much traffic does your site get?
Restaurants For Sale Online has regularly
generated 3,000 to 5,000 visitors daily and
between 800,000 and 1 million page views
each month.
How do buyers find your website?
To maximize exposure to our sellers and
brokers Restaurants For Sale Online
constantly monitors positioning in search
engines and portals. For over 10 years sites
owned by Restaurants For Sale Online have
naturally ranked in top positions in Google,
Yahoo, AOL, AltaVista, MSN, and other major
search engines for relevant key phrases. As
of February 2008 Restaurants For Sale Online
ranking in Google, Yahoo, MSN Live, ASK and
AOL for "restaurants for sale" is #1.
In addition to
our search engine rankings we also market
ourselves throughout the industry. Over the
years we have advertised with Nation's
Restaurant News, the National Restaurant
Association SmartBrief, The New York Times,
Restaurant Report, Restaurant Hospitality
Magazine, Restaurant Startup & Growth
Magazine, Restaurant Business Magazine,
Entrepreneur Magazine, and in various other
online media and publications.
Can I list a new restaurant opportunity?
The short answer is YES! People
seem to have a few definitions for this
term. If you are selling a newly built
restaurant sign-up as a seller and list in
the standard for sale database. If you are
looking to sell a franchise concept for a
non-existing location please
email us about advertising options in
our franchise opportunity directory.
Existing franchise locations can also list
as a standard seller would. g
Brokers, Intermediaries, and Advisors
How do I
signup to advertise on your site?
Register in the Restaurant Brokers
Center by clicking on the "Brokers" tab and
clicking on the "Sign-Up Now" button next to
the account level preference. Details
on each of the options is available in the
respective sections.
What are the costs of advertising ?
Broker accounts have pricing which is
dependent on the number of listings you
maintain. All accounts have a one time setup
fee of $50. Additionally when you sign up
you will be charged for your first month in
accordance to the level you sign up for. You
will be billed automatically monthly until
you cancel your account.
Level 1: Broker accounts which maintain 1-5
listings - $29.95/month.
Level 2: Broker accounts which maintain 6-10
listings - $39.95/month
Level 3: Broker accounts which maintain
11-20 listings - $49.95/month
Level 4: Broker accounts which maintain
21-30 listings - $59.95/month
Level 5 and up:
click here for all options
How
effective is Restaurants For Sale Online?
Based on the seller and broker exit
survey
completed by our users, between 60% and
70% of listings actually sell.
How can I list multiple listings and is there a savings?
Broker accounts have pricing which is
dependent on the number of listings you
maintain. All accounts have a one time setup
fee of $50. Additionally when you sign up
you will be charged for your first month in
accordance to the level you sign up for. You
will be billed automatically monthly until
you cancel your account.
Level 1: Broker accounts which maintain 1-5
listings - $29.95/month.
Level 2: Broker accounts which maintain 6-10
listings - $39.95/month
Level 3: Broker accounts which maintain
11-20 listings - $49.95/month
Level 4: Broker accounts which maintain
21-30 listings - $59.95/month
Level 5 and up:
click here for all options
How do I
get a listing on the homepage?
Upgrade a listing to a Spotlight listing to
get on the homepage. To do this,
visit
the Restaurant Broker Center by clicking on
the "Brokers" tab. Login to your account
using the email address and password you
created during your registration. Click on
"Listing Manager" sub-header link or the
"Manage and view your Current Listings"
link. Click on "Upgrade" link next to
the listing you want to upgrade. Decide
which type of upgrade you want and click on
the appropriate "click here to upgrade"
link. Upgrades are processed within 2
business days and are subject to additional payment
approval.
How do I reactivate my account
if I've listed with the site before?
To do this,
visit
the Restaurant Broker Center by clicking on
the "Brokers" tab. Login to your account
using the email address and password you
created during your original registration.
You will be taken to a billing update page
where you must provide payment information.
After providing this you will be immediately
taken to your account however our payment
verification may take up to 1 business day.
Accounts which are renewed that are more
than 90 days inactive will be subject to the
$50 registration fee new accounts incur.
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