The Selling Process
The owner of this business purchased this restaurant from the original owner and operated it for more than six years, and had since opened up numerous other businesses outside of the restaurant industry since that time. As these businesses flourished and began to require more of his time, he decided to sell this one.
He turned to VR Business Brokers after being referred by another satisfied VR client to confidentially market and sell his business. VR used a proven system to to reach restaurant buyers in the Triangle market and beyond… Every buyer signed a confidentiality agreement and the sale was 100% confidential, the employees learning of the transaction after the sale was completed.
The deal was completed with a purchase agreement, bill of sale, a security agreement, a lease assignment, and disbursement of funds to the owner with a short training period. The buyer was a restaurant manager in the Triangle who always wanted to be a restaurant owner!
Congratulations to the buyer and seller of this successful transaction, and special thanks to attorney Michael Ganley at the offices of Bagwell Holt Smith P.A., “Paul” Woo-il Lee, Esq. of the Paul Woo-il Lee Law Firm, and Chris Thorpe who represented the buyer in the transaction.
VR co-brokered this transaction for best results for the owner of the business!