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The Firm Schedules its Tenth Restaurant Acquisition of the Year

The Firm Business Brokerage today announces the completion of their tenth restaurant closing of the year. The Firm continues to show the viability of purchasing existing businesses. Even with the ten closings, they still have six on the market and more coming.

Did you know that the restaurant business is booming and it extremely vital to the Nebraska economy? According to The National Restaurant Association, the industry just in Nebraska is slated to do $2.9 billion in sales in 2016 with 93,100 food service jobs totaling 10% of employment in Nebraska.

When asked about the restaurant sales over the last year, President of The Firm Business Brokerage, Cortney Sells stated, “The restaurant industry is very large and secures many jobs. A big part of what we do is the preservation of jobs through transition of ownership as opposed to a restaurant closing its doors.”

Forbes says, “eight out of ten new businesses fail in their first five years.”  People don’t realize the cost associated with opening a brand new business. You will likely spend hundreds of thousands for the buildout and licensing, marketing to get customers to come to your establishment, time training employees and other expenses associated with starting a business. Existing businesses come with the space already built out, all furniture, fixtures and equipment necessary to run the business, a customer base, trained employees and, most importantly, cash flow. The risk is minimized greatly when purchasing an established business.

The following are the ten restaurants closed so far this year:

 

·         Sortie’s Tavern

·         Bison Witches Bar & Deli

·         Main Street Café

·         French Bulldog

·         Smashburger

 

·         Sisters Cafe

·         Arena Sports Bar & Grill

·         Frosty Bliss Frozen Yogurt

·         Geno’s Bar & Grill

·         Taco Mill

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The Firm Business Brokerage is not a real estate brokerage and therefore the staff will not handle any aspect of the lease, sale or purchase of real estate.