Commercial Realtor Referral for Pizzeria Sale

[Patrick Julian]

Hey everyone! My parents are selling their pizzeria in Dennis, MA on Cape Cod thats been a thriving staple in the community for over 30 years. They are having really bad luck working with subpar realtors since last fall who arent bringing qualified buyers to the table or in one case are undercutting the interest so they can buy it themselves at a discount. My dad in particular needs a sale to happen so he can retire as he's been living with the disease M.S. for quite some time. 

Does anyone in the area have any referrals of great commercial agents on Cape who I could contact for them? 

Thanks very much for reading and any ideas you might have. 

-Patrick 

[Joel Owens]

Didn't see this.

I know more about the pizza business than would like to forget...lol

I worked for largest Dominos pizza franchisee many, many decades ago in all facets and then had a restaurant. 

First thing you need to determine is if the business is at (owner operator) scale or (absentee owner) scale. Absentee owner is generally when the business profits 100k or more after expenses and management in place to handle everything. Creates bigger pool of buyers.

If this is a single location where you dad runs it all the time then that is owner operator and he is the business. You often have to find an owner operator willing to take that on which is usually not the larger companies. It's an employee of the business or family member. It's a tough time to sell a mom and pop type business right now. Food and labor costs are up and cycle is heading for a recession economically. I would look at the median income and population for the area. Higher incomes if your product is superior can still pay for quality food. The average to lower income areas get crushed with inflation and harder to offset food and labor cost rising to stay profitable.

If your dad owns the building and the land that might have more value than the business itself. 

This business broker sells lots of restaurants nationally. They have a book on it also. Hope your dad feels better soon.   

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