Did you know that restaurant deals fall through at the last minute all the time because of the landlord? As agents, we often call landlords deal killers for a reason. Of course, most landlords are reasonable people who want to establish a long-term relationship, but navigating the landlord approval process can be one of the most challenging aspects of getting a restaurant deal done.
In this episode, veteran restaurant broker Keith Simpson joins us to share his expertise on how to best work with landlords. With over 51 years in the restaurant industry, including hosting the Food Network TV series Buy This Restaurant, Keith brings unparalleled insight, honesty, and humor to this tricky topic.
Tune in to learn proven strategies for presenting buyers in the best light, avoiding common pitfalls, and ultimately getting that all-important lease assignment or new lease signed. Keith shares stories from the trenches and practical tips you can apply to your own deals, whether you’re buying a restaurant yourself or brokering a deal for a buyer or seller.
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What You’ll Learn from this Episode:
Why landlords have all the power in restaurant deals and how to work with that reality.
The key items to include in a landlord package to give your buyer the best chance of approval.
How an SBA loan approval can make a landlord more likely to approve a tenant.
The pros and cons of assigning a lease versus signing a new lease from the landlord's perspective.
Why sellers sometimes need an extra layer of identity protection when listing their restaurant for sale.
How to protect sellers if they provide financing to the buyer via a sublease arrangement.
Listen to the Full Episode:
Featured on the Show:
Call Keith on 530-545-2451
Buy This Restaurant – TV show on Food Network
Full Episode Transcript:
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