Rosita’s on Maple.
Upscale Indian food restaurant in a great neighborhood with 6,000 square feet and high visibility.
Pizza and pasta joint on Greenville Avenue.
Uptown sandwich shop.
Cash Flowing North Dallas Cafe Boasts Excellent Food.
It is important to keep costs low when considering the purchase of a restaurant. In doing so, it helps to personally review the high points of due diligence, agree on key terms up front, set a deadline for closing, and decide early what your goals are. Rarely can you get everything you want in a deal, but these points can help reduce some of the transaction costs.
About the author: Matthew Sanderson is a transactional and real estate lawyer focusing on restaurants in Texas. “Good service with a smile” is his motto. Follow him on Twitter @dealattorney or see more tips like these at TexasRestaurantLaw.com.
When buying a bar/restaurat/store that is an on- or off- premise alcohol retailer, make sure to retain counsel that is experienced in this sort of transaction. A mistake with the TABC could cost you your business.
So I have a choice between a real estate attorney and one who knows all about TABC and how to keep me from getting screwed by their taxes when I buy/sell my restaurant. I wonder which I’d choose.
Regardless both are spam.
Not spam if you are in the position to purchase a restaurant. If you are, this would be good information.
Ha. Then I suppose all spam isn’t spam because someone eventually bites off what they are selling. Good logic.
I can guess a few of these places with for sale signs, and why they are for sale. Interesting Mizz Nikkels.
I read advice, not spam. Spam would be, “hey, call me or check out my website or to check out big booty hoes click here.” Kinda like the first guy who advertised himself. Informing potential buyers of something that could save them their house and retirement fund is advice people need when purchasing or selling a business, obviously something Miss Shanna’s never done.
I know someone that didn’t use an attorney specializing in restaurant and bar transactions and they had to come up with thousands upon thousands of dollars in an extremely short amount of time to keep their restaurant liquor license. Texas ain’t playin’ around. TABC will get you if you don’t follow their convoluted rules and unless you have an iron clad, all bases covered sellers agreement, you, the buyer, will get stuck with that bill- not the person selling, which is how they like it. Most people aren’t aware of the intricacies of selling a liquor-license-having restaurant or bar. Take all the professional advice you can get.
@hmmmm…this is a tough one:
More likely to get screwed by the attorneys than the TABC.
Kinda sad. Many lunches at Rosita’s back in the day.
Is that Piggie Pies?!?
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