Living the Dream – Owning Your Own Restaurant

Everyone has dreams. Own your own business, maybe a restaurant. Live in a beautiful area. How about combining the two – own your own restaurant in the Lakes Region of New Hampshire! Owning a restaurant is a common dream. Most folks love the social aspects of the restaurant scene- the interaction with people in a good times atmosphere, the satisfaction of serving customers well, the opportunity to run a business with family and of course the FOOD. Here in the Lakes Region our tourist based economy provides a great incubator for food based service industries. The Lakes Region has many eating establishments that run the gamut of tastes and service. In Meredith, at last count, we have over 25 places where you can get something to eat ranging from McDonald’s to lovely fine dining restaurants; this in a town of 7000 year round people. To show how crazy the business can be, foodie heaven Portsmouth has 22,000 residents and 25,000 restaurant seats.

Mame's Restaurant, Meredith, NH
Mame’s Restaurant, Meredith, NH

If owning a restaurant is your dream, where do you start? There are two basic paths to take: start your own or buy an existing business. Starting from scratch may be necessary if your plan is to be theme based or unique and there are no existing same theme restaurants for sale in the area you want to be. For instance, if you want to own a specialty pub (say Irish or Brew Pub) and there are none for sale in your target area, you would have to start from scratch. There are plusses and minuses to everything, and there are as well with from starting with a blank piece of paper. Positively, you will get a physical plant specific to your needs and you will be able to tailor the design to your specific theme. You also will get a new plant with new furniture, fixtures and equipment. Everything will be shiny and clean and will work. Negatively, you will pay for this privilege in terms of time and money. Starting from scratch requires design work, engineering, and city and state licenses and approvals. Not to mention construction headaches. But the big thing here is you get what you want where you want it.

The other route to take is the fastest, cheapest and most direct way to owning your own restaurant – buy either the existing assets or the entire business of an existing establishment. Here all the heavy lifting has been done. You skip all the planning approvals, licensing, and build out issues – you just basically take the keys and drive the car. Granted, it’s not that simple. You’ll probably want to do some renovation and establish your new menu, but if the restaurant is successful as is you don’t have to even do that. In the past, buying a business required paying a premium for the business itself if it was throwing off cash flow (I covered how businesses are priced in a previous article). Today however the dips in the economy and certain circumstances have conspired to offer opportunities where you can buy restaurants and pay only for the real estate, furniture, fixtures and equipment.

Recently, partnering with Lynn Bonneau, I put the former William Tell Restaurant under agreement. The buyers are experienced restaurant folks who will be open soon with a new theme and the future looks good for them. This property sold as Real Estate and assets only and was a very good value. Also, currently I am acting as a consultant for the sale of a restaurant in Ports

mouth. This is a very successful business and will be purchased as going concern of the business only with no real estate. The buyers are paying for the business as well as the furniture, fixtures and equipment and the cash flow fully justifies the price. These are two different types of sales, placing value on different things – real estate, furniture, fixtures and equipment at the William Tell and cash flow in the other.

Right now, I have some great listings that demonstrate the different possibilities available:

4225943Mames Restaurant  ( MLS# 42259943 ) has been in business for over 30 year and is a landmark in downtown Meredith. The owner is retiring and this is a great opportunity to step in and take this to the next level. Mames’s is offered as a collection of assets and real estate only and is priced at a reasonable $599,000.00 – pretty much the value of the real estate alone! If you have the restaurant bug, you shouldn’t miss this opportunity! 

The Meredith Coffee House  ( MLS# 4215095 ) is a fully renovated operating breakfast and lunch restaurant4215095 and bakery located on the very busy DW Highway in Meredith. There is great opportunity to expand this business and grow it into your dream. Listed for $329,000 for the real estate and negotiable for the furniture, fixtures, and equipment, this can be your chance to make this your own.

Have a great idea or concept for a large scale restaurant? I have a great location available for your concept. 2 Lily Pond Road in Gilford has over 300 feet on scenic Lily Pond at a four way stop light on one of the heaviest traveled roads in Central NH with more than ample parking. There are just less than 2 acres and an existing set of buildings with a 2400 sq. ft. Post and Beam front building attached to a 5600 sq. ft. steel building. You will start from scratch and can make this site into the restaurant of your dreams.

So, if you are considering buying, starting, or selling a restaurant give me a call at (603) 520-6609.

There are many opportunities available, but there are also many pitfalls. We can provide consulting for startups, purchasing, or selling the restaurant of you dreams helping you get where you want to be with the least hassle and expense. Buying a restaurant is a big deal and is not like just buying a piece of real estate. We know the business of restaurant sales. Make sure you know what you are buying or selling and get what you want – contact me to start LIVING THE DREAM.

By Kim Cedarstrom Commercial and Residential Realtor® e-mail: kcedarstrom@rocherealtygroup.com

Kim Cedarstrom is a licensed residential and commercial Realtor© and consultant and president of Great Northern Real Estate and Business Consultants, an affiliate of Roche Realty Group offering a lakefront/residential real estate practice as well as commercial property and business sales services. Kim can be reached at kcedarstrom@roche.g.corvida.com or directly at 603-520-6609.

Memorial Day

Beyond the BBQ: A Symphony of Remembrance and Summer Joy in the NH Lakes Region

Memorial Day serves as the official kick-off to summer in the Lakes Region. Towns ready ...
Read More →
Welcome to New Hampshire's Lakes Region

Welcome to New Hampshire’s Lakes Region

New Hampshire’s Lakes Region is one of the most stunningly beautiful places in the United ...
Read More →
The Granite State: Top Spot for Relocation in 2024

The Granite State: Top Spot for Relocation in 2024

New Hampshire just garnered major recognition as the best state to relocate to in 2024 ...
Read More →
Real Estate Sales Insights: Lakes Region Market Update

Real Estate Sales Insights: Lakes Region Market Update

It’s hard to believe we’ve already churned through 4 months of 2024. I researched the ...
Read More →
Market Trends – Spring 2024

Market Trends – Spring 2024

As a Realtor®, I’m always paying attention to the real estate market. I’m often asked ...
Read More →
Temperance Tavern in Gilmanton Sold

The Historic Temperance Tavern in Gilmanton Sold

Gilmanton—According to Frank Roche of Roche Realty Group in Meredith, the historic Temperance Tavern in ...
Read More →
Needs and Wants When Buying a Home Balanced

Balancing Needs and Wants When Buying a Home

In the current housing market, where choices are often limited, and demand frequently outstrips supply, ...
Read More →
Only two homes for sale at South Down Shores and Long Bay on Lake Winnipesaukee pictured above

Spotlight on Homes: New Hampshire Market Analysis

At present time, there are 1,007 single-family homes for sale in New Hampshire. The median ...
Read More →
New Hampshire Ranks High in Recent Studies

New Hampshire Ranks High in Recent Studies

Every day in our industry, we see how rising home prices have made it more ...
Read More →
South Down Shores Barn Complex Transformation

South Down Shores Barn Complex Transformation

In 1981, the transformation of Laconia’s scenic South Down Farm began, converting the former 126-acre ...
Read More →
Massachusetts and New Hampshire - a Tale of Two States

Massachusetts and New Hampshire – a Tale of Two States

Most of my articles talk about housing, trends, home values, and the desirable lifestyle we ...
Read More →
Spring flowers at the Belknap Mill in Laconia, New Hampshire

Spring Trends in Lakes Region Properties

It’s been one of those winters, or should I say lack of winters, that we ...
Read More →
Sales Snapshot: The Current Highest Prices Property For Sale in The Lakes Region Is on Governor's Island for $12,998,000

Sales Snapshot: New Hampshire’s Affordability Challenge

As we spring into March and approach our busy spring selling season, I thought I’d ...
Read More →
Gunstock Mountain in Gilford, NH

Gunstock: Gem of the Lakes Region

Nestled among the stoic peaks of the Belknap Mountain range in the heart of New ...
Read More →
Roche Realty Group Announces Top Producers for 2023

Roche Realty Group Announces Top Producers for 2023

Meredith — Frank Roche, president of Roche Realty Group, announced the top five producers for the ...
Read More →
AI and the Future of Real Estate

AI and the Future of Real Estate

Imagine, if you will, looking at a mysterious picture box filled with a whole world ...
Read More →
Prices rise Broadview Condominiums originally sold to the developer for $500,000

Prices Rise Ahead of Super Bowl Sunday

We’ve got a great match coming up for this year’s Super Bowl…The 49ers vs. the ...
Read More →
Smart Moves in Condominium Ownership Samoset

Smart Moves in Condominium Ownership

Here in the Lakes Region, a good part of our residential housing inventory is in ...
Read More →
Land Sales Unveiled: New Hampshire's 2023 Market

Land Sales Unveiled: New Hampshire’s 2023 Market

New Hampshire The Granite State… true to its motto, “Live Free or Die”, which encapsulates ...
Read More →
Exploring Cash Sales Dynamics in Lakes Region Real Estate

Exploring Cash Sales Dynamics in Lakes Region Real Estate

I was at a sales meeting at Roche Realty Group the other day, and we ...
Read More →
Roche Realty Meredith

Roche Realty Group Reports Over $150 Million in Sales

               Meredith- Frank Roche, President of Roche Realty Group, Inc., ...
Read More →
Lincoln, New Hampshire Riverwalk Resort

Lincoln, New Hampshire: From Mill Town to Ski Destination

Tucked in the heart of New Hampshire, sprawling across 131 square miles of varied terrain, ...
Read More →
Lakes Region Towns Stand Out For Their Spirit of Giving

Celebrating the Spirit of “Giving” in the Lakes Region

Nestled in the picturesque landscapes of New Hampshire, the Lakes Region stands out not only ...
Read More →
AI's Impact on the future of real estate

Real Estate’s Future: The Impact of AI

The other day, I was talking with my son Chris about the changes in the ...
Read More →
NH Lake Sales Activity - picture of lake with mountains and homes

Lakes Region Waterfront Sales 2022 vs. 2023

We’re getting near the end of the year, and I thought I would pull up ...
Read More →
Winter Snowmobile

Real Estate in a Winter Wonderland

As I drove around the other day with my kids, I was looking at some ...
Read More →
Toys for Tots Drive

Roche Realty Host Annual Toys for Tots Drive

As the holiday season approaches, Roche Realty Group is excited to announce the kickoff of ...
Read More →
Small Business Saturday New Hampshire

Small Business Saturday Living Gratefully in New Hampshire

We have so many things to be thankful for here in New Hampshire: plenty of ...
Read More →
Annie Brown Joins Roche Realty Group

Annie Brown Joins Roche Realty Group

Meredith — Frank Roche, President of Roche Realty Group, Inc., with offices in Meredith and ...
Read More →
Gunstock Mountain in Gilford, NH

Gunstock Upgrades for Winter as Real Estate Shows Resilient Growth

As the leaves of New Hampshire’s forests transition from the vibrant hues of fall to ...
Read More →
Preserving New Hampshire's Lakes

Preserving New Hampshire’s Lakes: A Community Effort

With over 250 lakes and ponds throughout New Hampshire’s Lakes Region, there are unlimited outdoor ...
Read More →
Home Inspections — The Uninspected Abode: A Spine-chilling Tale of Regret and Terror!

The Uninspected Home: A Spine-chilling Tale of Regret and Terror!

One night, not many years ago, in a quaint, somber town nestled amidst the haunting ...
Read More →
Interest Rates

Interest Rates Impacted by Treasury Yields

It looks like the national picture for housing stats has not improved in recent months; ...
Read More →
Local Housing Crisis: Challenges and Solutions

Local Housing Crisis: Challenges and Solutions

Our communities are facing a shortage of both residential and commercial properties, a scenario that’s ...
Read More →
Fall Splendor In New Hampshire

Fall Splendor in New Hampshire

New Hampshire in the fall is akin to stepping into a live canvas painting — ...
Read More →
Samoset Condominiums on Lake Winnipesaukee

Condominium Sales Surge in New Hampshire’s Lakes Region!

As we start entering October’s bright fall colors, I thought I’d take a look at ...
Read More →
Empowering your offer

Empower Your Offer in a Sizzling Real Estate Market!

As a seasoned real estate professional, I often consider the market conditions to keep myself, ...
Read More →
Reviews of New Hampshire's Lakes Region

Reviews of New Hampshire’s Lakes Region

We’ve had a great summer in New Hampshire’s Lakes Region, and we’re approaching the brilliant ...
Read More →
Waterfont Sales Activity Wolfeboro, New Hampshire

Waterfront Sales Activity in the Lakes Region

As we head into September, I have compiled data and insight into what is happening ...
Read More →
Labor Day Weekend

Labor Day Weekend in The Lakes Region

Labor Day Weekend has arrived, and the weather forecast for the Lakes Region looks fantastic, ...
Read More →
Interest Rates

The Mortgage Interest Rate Dilemma

This past week, we saw an increase in mortgage rates following a rise in bond ...
Read More →
Best State To Live In — New Hampshire at #3

New Hampshire 3rd Best State To Live In!

WalletHub just released its rankings of the best state to live in for 2023. It’s ...
Read More →
City/Town Comparison can make the research process easier

City/Town Comparison For Your Move

Some studies place moving to a new location as one of the top ten most ...
Read More →
New Hampshire Real Estate Lacks Inventory

New Hampshire Real Estate Inventory Crisis

A Multifaceted Analysis of Rising Interest Rates and Beyond New Hampshire is currently facing a ...
Read More →
Peaks of New England

Exploring the Peaks of New England

In my younger years in school, I always loved geography. Living in New Hampshire, there ...
Read More →
Climate Exodus: Insurance Companies Seeking Refuge from High-Risk Sates

Climate Exodus: Insurers’ Fleeing High-Risk States

Flooding, Forest Fires, Heat Waves, Tornados, oh my! The recent stretch of weather has certainly ...
Read More →
Real Estate News Headlines - Lakes Region NH

Real Estate Tidbits to Consider

Here are a few real estate tidbits I’ve pulled to keep you up to speed ...
Read More →
Roche Realty Group Sells out Lakeside at Paugus Bay

Roche Realty Group — 6 Months in Review

Closed sales for the first 6 months of 2023 have been impressive at Roche Realty ...
Read More →
Newfound Lake

Lakes Region Waterfront Sales Activity 6 Month Comparison

Below you will find data and insight into what is happening in sales activity on ...
Read More →
Buying Land

Buying Land in New Hampshire — Comprehensive Guide

New Hampshire, also known as the Granite State, offers a diverse landscape that includes picturesque ...
Read More →

Leave a Comment