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Restaurant Transactions and Liquor Licensing Transactions
Manage episode 440461783 series 3561104
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What makes restaurant transactions so complex? In this episode of Transaction Talk, Adam Barnosky, chair of the Restaurant Hospitality Practice Group at Ruberto, Israel & Weiner in Boston, joins us to break it all down. Adam delves into the unique challenges of restaurant transactions, discussing everything from liquor licensing and zoning permits to the intricacies of multi-unit franchising. He highlights how doing your due diligence is essential, particularly when reviewing lease agreements and navigating regulatory approvals, which often lead to longer timelines compared to other business deals. Adam also covers key issues such as employment claims, UCC liens, and whether to buy or lease restaurant properties, noting how each decision impacts the overall transaction. Tune in for valuable insights on handling the complexities of buying or selling restaurants, and discover why proper planning, patience, and the right team are crucial to closing a successful deal!
Key Points From This Episode:
- Key differences between restaurant transactions and other businesses.
- Various permits to consider and why patience is key in restaurant transactions.
- An overview of multi-unit franchising in restaurant acquisitions.
- Financial dynamics that impact the decision to buy land versus renting.
- How to approach liquor licensing; why it’s such a nuanced and specialized issue.
- The importance of doing due diligence, from UCC liens to reviewing lease agreements.
- Employment claims and issues you need to be aware of as a buyer.
- Doing due diligence as a seller and ensuring you have post-closing protections.
- Selecting the right professionals to work with; why it’s important to have a restaurant broker.
- Health inspections, zoning, and other considerations at the municipal level.
- How to get in touch with Adam and a quick recap of today’s key points.
Tip of the Day: $1 in diligence today will save you $1,000 down the road.
Links Mentioned in Today’s Episode: Adam Barnosky on Linkedin Adam Barnosky on X
Disclaimer:
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