If you NEED HELP or experience the Broker double talk language. Contact Penthouse Advisors INC., to represent you. CALL/TEXT, 310-663-3521. Email: PenthouseAdvisors@gmail.com
*We go door knocking for Restaurant off market deals and establish the Selling Price. One time fee $3000
Retain Penthouse Advisors INC., to go door knocking in the area you want to service. We speak with every Restaurant Owner, to Sell Fast or get out of their Lease. We will arrange the Assignment of Lease or New Lease, Transfer the Health Department Permit, Transfer the Alcohol Permit, if available. Set up the Sellers Permit, limited liability insurance, establishing the EMPLOYMENT DEVELOPMENT DEPT (EDD), CA DEPT TAX FINANCE ASSOCIATION (CDTFA), FRANCHISE TAX BOARD (FTB), UCC search to uncover any and all debt and legal entanglements. Open for Business as fast as possible. Location: The premises is checked for foot traffic, Customer Parking, Zoning. Attached Equipment: Belongs to the Property Owner. All Non-Attached Furniture, Fixtures and Equipment (FF&E): Belongs to the Restaurant Owner. EQUIPMENT LIST: FF&E LIST is drafted. All Equipment labels must be in Code Compliance with labels stating, NSF OR URL Sanitized, the make and model numbers, Lease Equipment is listed. Electric water heaters: Must be labeled 10 kilowatts. We protect the Buyer and Seller equally, fairly and honestly.
Health Department Permits Pre Inspections for Compliance. Restaurants within Los Angeles County that are left vacant for a Ninety day (90) period or more, lose their health department permit. Penthouse Advisors INC., works with the Health Department reissuing Permits, we perform a Health Department pre-inspection of the Restaurant and Kitchen
CA State Alcohol Licensing within Los Angeles County. Vacant Restaurants with Alcohol Licenses: Penthouse Advisors INC., works with the State of CA, Alcohol Beverage Control (ABC) issuing liquor licenses. Restaurants and Bars within Los Angeles County vacant for a 12 month period or longer, lose their Conditional Use Beverage Permit (CUB), preventing new Alcohol license transfers for Public Alcohol consumption.
*RESTAURANT-ASSET SALES EXCLUSIVLY LISTED
Restaurant Asset Sales. We establish the correct Restaurant Asset Sale price, fairly and Honestly. NOTE: Previous remodeling, Upgrades to the decor, Decorating, (build out) is NOT ON the Buyer. We base the Selling price off the (a) Furniture, Fixtures and Equipment. (b) Health Department permit. (c) Conditional Use Beverage (CUB), (d) Zoning. (e) Lease/Option. (f) Rent. (g) Parking, conditions and activity.
SELLING FACTS TO KNOW: Attached Equipment: Belong to the Property Owner. Non-Attached Furniture, Fixtures and Equipment (FF&E): Belong to the Restaurant Owner. American Disability Act ADA: The Bathrooms, Front Entrance, Counters are checked for handicap (ADA) accessible in code compliance. Grease Interceptor or Grease Trap: Inspected for recent clean out dates. Health Department Restaurant pre-inspection: Restaurant Kitchen, Dry Storage, Serving Counters (wood not allowed). Food serving area(s), washable flat walls, wall tiles, flooring materials, cement floors, cove base molding, (rubber not allowed), ceiling, lighting, ceiling tiles and surfaces, floor sinks, three compartment sink, hand sink, prep sink, mop sink, drain lines, EQUIPMENT LIST: FF&E LIST is drafted. All Equipment labels must be in Code Compliance with labels stating, NSF OR URL Sanitized, the make and model numbers, Lease Equipment listed. Alcohol served: We check the Conditional Use Beverage Permits (CUB) for activity within Los Angeles County to dispense alcoholic beverages to the Public, Grandfather protections: we advise on how to maintain keeping the Restaurant out of code compliance, if applicable. The location-location: Must have customer parking and correct Zoning. Electric water heaters: Must be labeled 10 kilowatts. We perform a Health Department pre-inspection: Inspections of the Restaurant Kitchen, Dry Storage, Serving area and Counters example, (wood NOT allowed), The tile or cement floor, Cove base molding (rubber NOT allowed), washable walls, ceiling, lighting, floor sinks, three compartment sink, hand sink, prep sink, mop sink, drain lines.
*RESTAURANT-BUSINESS SALES EXCLUSIVLY LISTED
SELLING FACTS TO KNOW: Restaurant Business Sales and or Stock Sales. We establish the correct Selling Price base off the Three (3) Monthly Gross Sales reports, including the Cash. Three (3) Monthly profit and loss (P&L) reports showing the Net (profit). We require the Past 3 year Tax Returns, Copy of the Lease, the monthly rent/NNN and Option terms. The security deposit, Time remaining time on the existing Lease and or exercised Option. Alcohol Licensing. We require the Copy of the existing Type 47, ABC, to be transferable person to person or premise to premise License. Conditional Use Beverage Permits (CUB): Within Los Angeles County to dispense alcoholic beverages to the Public.
Grandfather protections: Typically, if a restaurant is closed for an extended period, 12 months or grater, it will lose its grandfathered rights. Grandfather rights, also called a “legacy clause,” an exemption that allows persons or entities to continue with activities or operations that were approved before the implementation of new rules, regulations, or laws. Such as Handicap requirements. These allowances can be permanent, temporary, or instituted with limits. We advise on how to maintain staying out of code compliance. Example: ADA: Bathrooms, Front Entrance, Counters are checked for handicap (ADA) code compliance. Grease Barrels, Grease Interceptor, Grease Trap: Inspected for recent clean out dates.
“TRICKY BROKER SIGNAGE“
Tricks: “Fully Equipped Second Gen Restaurant, For Lease”. The Real Estate Banner legally mean, “lease only”.
Warning: The Broker, Real Estate Agent, Property Owner can not legally charge potential Tenants Key Money, for existing, left behind, Furniture, Fixtures, Equipment (FF&E) or the past remodel, upgrades to the decor, decorating (build out). Understand this type of request is Illegal. Red Flag, Danger.
Furniture, Fixtures, Equipment (FF&E) under CA Law must be included under the Lease, For Free.
Tricks: “Restaurant Use Available For Lease “ This is a trick to hook you into spending $150,000 plus dollars improving the Property Owner Building by putting in a restaurant.
You will be offered a rent abatement allowance until “Open for Business” in exchange for the Tenant Improvements (TI). Get Ready, to be responsible for a full set of blueprints, mechanical, electrical, plumbing (MEP), Floor plan, site plan, reflective ceiling plan for Building and Safety, followed by Health Department Plan Check stamping to start the Construction. Then start building, 9 to 15 months later after spending over $150,000 plus dollars. Then, take the next 4 years paying yourself Back.