We recently connected with Dominique Maddox and have shared our conversation below.

Dominique, thanks for taking the time to share your stories with us today What sort of legacy are you hoping to build. What do you think people will say about you after you are gone, what do you hope to be remembered for?

I want my impact to be broad as possible, but it comes down to my core beliefs. Since I started as a Restaurant Broker in 2010, I thought there was a lack of minorities in the Business Brokerage Industry. I started using the term “Restaurant Broker” in about 2016 to let people know I was a business broker specializing in selling restaurants and franchise resales.

I have found myself educating people about the role of a Restaurant Broker, the requirements to get into the industry, and the nature of the business. I went to Morehouse College in Atlanta, GA, on a Football Scholarship and majored in Business Management. I had never heard the term Restaurant Broker or Business Broker while in college, and I didn’t know it was a career path.

I like to educate Restaurant Owners and potential buyers with my website-written blogs covering everything from buying a restaurant, leasing a restaurant, or selling a restaurant. I hope the free information I provide about a restaurant’s buying and selling process exists behind my time on earth.

I know I opened the first Black Owned Restaurant Brokerage firm in Georgia, and I’m sure the first in Texas. I have a Real Estate Broker’s license in both states. I want to be remembered as a Trailblazer in the Restaurant Brokerage industry for people of all colors.

I think representation matters; when people see others that look, talk, and come from similar backgrounds having success in specific fields, it makes a difference in what they think is possible.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers

I’m Dominique Maddox, CFE, the Restaurant Broker; my story starts in Anchorage, Alaska. I was born and raised in Anchorage, Alaska; for 18 years, I received a football scholarship to Morehouse College and never moved back home.

My journey into selling restaurants started in 2010. At the time, I was a Residential Real Estate agent from 2008-2010, and I knew I didn’t want to sell homes anymore and wanted to start in Commercial Real Estate.

I found myself reading books about Commercial Real Estate and applying for grants to classes and seminars that covered the topic. I was not making progress getting into the industry; one day, I received an email out of nowhere. The email asked whether I have ever thought about becoming a Business Broker/Intermediary specializing in selling restaurants.

I was intrigued by the email, responded, interviewed with the company, and was hired on the spot. I will never forget during my interview; I was told it can take 6-8 months to get your first check. I was then asked, “ Do you have enough money to survive 6 months?” I said yes, knowing I was broke and betting on myself to be successful.

After 7 years of working with one of the nation’s largest Restaurant Brokerage firms, I had reached a glass ceiling. I wanted to be happy, have ownership of my future, and have control of my life. I started my Restaurant Brokerage firm in October 2019.

EATS Broker is a full-service Real Estate Business Brokerage practice focused on the restaurant industry. We provide Restaurant Sellers complimentary restaurant valuations, market the restaurant for sale, negotiate with buyers, and handle the due diligence process.

Our company specializes in selling restaurants, franchise resales, and restaurant asset sales. We can assist clients with Restaurant real estate site selection, Tenant Representation, Franchise Consulting, and Business Price Evaluation.

I have a Certified Franchise Executive (CFE) designation I earned with the International Franchise Association (IFA). I’m one of the few Restaurant Brokers in the nation with that designation. I worked hard to get the title to be an expert in Franchise Resales.

I have been fortunate to list and sell multiple franchise brands. I have sold or listed Schlotzsky’s, Firehouse Subs, Jimmy John’s, Lenny Grill and Subs, Marco’s Pizza, Papa John’s, Papa’s Pizza To Go, Aurelio’s Pizza, and many more concepts.

My clients range from your independent-owned restaurants, sports bars, nightclubs, and franchise resales. We only sell restaurants; if someone is selling a car wash, dry cleaners, or other business, we are not the right company to contact. We are all about the EATS.

I currently sell restaurants in about 20 states, mainly located in the Southeastern and East Coast states.

Any stories or insights that might help us understand how you’ve built such a strong reputation?

I believe specialization in only selling restaurants created a niche that helped build my reputation. People know me as Dominique, the Restaurant Broker. Daily, I talk to restaurant owners, listen to their problems, review Profit and Loss Statements, and provide restaurant valuations. Most times, I understand the financials of a Restaurant Owner better than they understand them.

Knowing the ins and outs of the restaurant selling process and getting multiple deals to the closing table over the years has helped me build my reputation. I started in the business at 29 when most Restaurant Brokers don’t enter the industry until they are 50 or older.

I like to be proactive by doing a lot of cold calling to potential clients, joining networking groups, writing blogs, being active on social media, and constantly learning daily. I know my background as an athlete, being a Morehouse College Alumna, and a member of Omega Psi Phi Fraternity Inc. helped while living in Atlanta.

Lastly, I look at my profession as a Restaurant Broker as a contact sport. I have to continue to make contact with buyers and sellers to be successful. I understand listening and showing empathy for people’s problems will take you a long way in this business.

I always remember selling a restaurant is more than just collecting a commission, I’m dealing with someone’s life. Treating people with respect, providing honest feedback, and getting restaurants sold has helped me build my reputation as a Restaurant Broker.

Can you tell us about a time you’ve had to pivot?

My most recent and impactful pivot happened in August 2021 when I decided to move from Atlanta, GA, to Dallas, TX, to save and grow EATS Broker.

Since I started my company in October 2019, I have been battling a Civil lawsuit that stopped me from selling restaurants in Atlanta, GA, and 31 counties surrounding the city. While fighting the civil lawsuit in court, I was able to sell restaurants in Georgia. Still, I was not able to contact any of my previous clients.

My dream of owning my Restaurant Brokerage firm experienced a life-changing decision in November 2020. The judge ruled that I lost by DEFAULT and no longer had the legal right to sell restaurants in Atlanta, GA, or 31 counties surrounding Atlanta until October 23, 2022. This period would equal (3 years after starting my company).

I had to cancel eight of my restaurants for sale listings in Atlanta or the restricted areas. This was devasting because, at the time of the ruling, I only had 12 listings for sale. My court rulings were mailed to each one of my clients and sent to the Georgia Association of Business Brokers to destroy my business and personal credibility.

I found myself in November 2020-June 2021, not wanting to answer my phone calls from Georgia numbers and experiencing a dark time in my personal life. I counted 50 potential leads I received from my website, referral partners, or past clients that I had to turn down before I stopped counting them.

I sell restaurants in about 20 states, mainly on the Southeast and East Coast, USA. Starting off as a new company, I needed to first get listings in my home state to build up my website. I was living in Atlanta and owning a Restaurant Brokerage firm but couldn’t walk outside and list a restaurant for sale due to the civil lawsuit.

I knew I had found my purpose as a Restaurant Broker. Still, I found myself in a situation that limited my ability to make a living, and I could not be successful. After months of thinking and praying, my final two choices for relocation locations came down to Tampa, FL, and Dallas, TX. I decided to move to Dallas, Texas would give me the best opportunity to be successful.

I had been selling restaurants in Texas while living in Georgia since 2015. Most of the listings I would sell would be in the Dallas Fort Worth (DFW) area. I did my research and noticed how many different Franchise Brands’ headquarters were located in the area. I noticed Texas had double the amount of restaurants for sale than Georgia on the market.

I moved to Dallas in August 2021 and never looked back on my decision. I moved here with four restaurants for sale listings and a big ambition to be successful.

It took me about 2-3 months to start getting listings in Texas and learning about the surrounding areas. I sold two Schlotzsky’s franchises in Galveston, Texas, in June and Lenny’s Subs in Humble, Texas, in July. I’m thankful I decided to pivot instead of giving up on my dream of owning a Restaurant Brokerage company.

Contact Info:

• Website: www.EATSbroker.com
• Instagram: eatsbrokers
• Facebook: @EATSRestaurantBrokers
• Linkedin: Dominique Maddox, CFE