How
Restaurant Realty Company Maintains Strict
Confidentiality in Marketing its Restaurants For
Sale
Confidentiality is extremely important in marketing
a business for sale as it can be a very sensitive
time to keep a business running smoothly prior to a
transition. In dealing with a confidential sale,
before I will give any buyer the name, address and
financial information of the restaurant, bar and/or
club for sale I do the following:
1. Screen
the Buyer - In screening a prospective buyer I
ask the following questions: Are they in the
restaurant business? If so what is their scope of
experience - have they owned, managed and/or worked
in a restaurant and for how long? What kind of
restaurant have they been involved with, i.e. dinner
house, cafe, coffee shop, ethnic or fast food
restaurant? What size of restaurant have they been
involved with, i.e. square footage and number of
seats? What kind of restaurant are they looking for?
Do they want to buy an ongoing successful operating
restaurant or are they just looking for a fully
equipped restaurant with a good location? Who are
the decision makers? What is their time frame? What
is their source of cash - their own savings, family
loans, bank loans, etc.? When will the cash be
available and where is the cash? How is their credit
and what is their financial situation? (All
landlords are going to require the buyers current
credit history, personal financial situation and
most recent tax returns as well as their resume and
business plan).
2. Have the Buyer
Sign a Confidentiality Statement - Once the
prospective buyer answers the above questions
appropriately and I am convinced that he/she is a
sincere buyer I will have him/her sign a
confidentiality statement which says the buyer will
keep the information (name, address, financial
information, etc.) delivered to him/her
confidential. Additionally the buyer is instructed
to act as a regular customer when he/she goes into
the restaurant and not snoop around.
Restaurateur of the Quarter - Paul Lazzareschi Of
Vasco Restaurant & Bar In Mill Valley
Paul Lazzareschi, 42, a native San Franciscan
graduated from Lowell High School and San Jose State
University majoring in psychology and physical
education. After college, Paul had a brief stint as
a high school teacher prior to starting to work at
Bardelli’s Restaurant in 1979.
Bardelli’s was one of the oldest and best known
restaurants in San Francisco. Paul’s father was one
of the partners of Bardelli’s and after Paul worked
his way up from bartender to General Manager he
bought out the other partner. Bardelli’s closed in
1997 as it lost its lease and immediately thereafter
Paul bought the former Frog & Peach Restaurant
(Restaurant Realty was the broker) at 106
Throckmorton in the heart of Mill Valley (directly
across the street from the Mill Valley Depot), Paul
completely gutted the restaurant and developed Vasco
(named after his father) which is a casual, fan,
inexpensive but elegantly very tasteful operation.
The restaurant is always packed as a result of its
excellent food, service and comfortable decor.
Paul’s wife, Lynn, a former registered nurse, plays
an integral part in helping Paul run the operation.
Paul is a Past President of the Golden Gate
Restaurant Association and currently he is active on
the Golden Gate Restaurant Associations Scholarship
Board Chairman of the Association’s annual golf
tournament and serves on Goodwill’s Business
Advisory Committee.
