Date: Thursday, October 15, 2015
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

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Featuring  (click image for bio)

Lynton Kotzin
Kotzin Valuation Partners

About This Program

Barbeque? Italian? Chinese? Along with a seemingly infinite variety of dining establishments there are an equally large number of complex questions surrounding full-service restaurant valuations. What are the key industry issues? How do full-service restaurants differ from quick service restaurants? What are the value drivers? Join expert Lynton Kotzin, managing partner of Kotzin Valuation Partners, LLC, as he shares his framework to answer these questions and addresses the unique nuances and considerations appraisers must consider when valuing a full-service restaurant.


  • Overview of restaurant industry including current conditions and future outlook
  • Differences between types of restaurants (quick service v. full service) and concept types and why the difference is important to the valuation analysis
  • Financial analysis and industry benchmarking
    • Average Unit Volume
    • Revenue mix
    • Day parts
    • Same store sales trends
    • Gross Margin
    • EBITDA Margin
    • Capital Expenditures
    • Growth trends
  • Normalization adjustments
    • Non-recurring and extraordinary items
    • Owner compensation and perquisites
    • Rent adjustments
  • Key value drivers in full-service restaurants
  • Special issues/considerations in valuing full-service restaurants
  • Proper application of the market approach
    • Examples from transaction databases
  • Income approach considerations
  • Unique considerations and risk profile
  • Reasonableness tests
  • Case study analysis

Learning Objectives

  • Explain the unique issues to consider when valuing a full service restaurant
  • Understand normalization adjustments, financial analysis and industry benchmarking nuances in valuing full service restaurants
  • Review a case study on valuing a full service restaurant

Single Connection Policy

Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy

Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

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