Getting a Loan When You Lease Your Restaurant
Today Michael is joined by Alan Nickelsen, Executive VP and Commercial Banking Manager of Synovus Bank in Pensacola, FL.
Alan shares the challenges that restaurants face to receive loans for building out and purchasing equipment for spaces that they lease. He shares which loans typically work for this type of restaurant owner, and what you can expect during the loan application process.
Episode Highlights:
SBA loans are government-backed loans that can help restaurant owners who lease their restaurant spaces and need funding for equipment or building out their restaurant.
Navigating a Restaurant Lease Renewal as a Landlord/Broker
On today's episode of The Restaurant Realty in 10 host, Michael Carro, explains special lease details to consider as you re-sign a long-term restaurant tenant.
He walks you through a conversation he recently had with a friend who wanted advice on how to retain a great restaurant tenant and put himself in a position to sell the building as a NNN investment may be possible in the future.
If your goal has changed from “long-term hold” to considering selling a leased property as a NNN investment here are a few tips from today’s episode:
Setting Up a Bar Program
Chef Blake is Owner and Head Chef of Union Public House in Downtown Pensacola, FL. In this episode Chef Blake is sharing what makes a great bar program, how his bar team crafts custom cocktails, and what a well-designed bar program can mean for a restaurants' bottom line.
Find out more about Chef Blake and Union Public House at unionpensacola.com.
Introducing The Restaurant Realty in 10
I'm your host, Michael Carro. And what I wanted to do in this first podcast is to share with you what I have learned as a restaurant owner, a restaurant landlord and a restaurant investor in sharing interviews with various experts that dive into all things restaurants, including operations, lease negotiations and terms, facilities and restaurant investments. So take a journey with me that leverages my experience in overseeing the acquisition of over 120 QSR or quick service restaurants also called fast food restaurants over a 10 month period way back in 2000. And then brokering the sale of a full service seafood restaurant company operating in five states to a private equity group as well as the day to day deal structure of negotiating countless restaurant leases