Buying or selling an existing Montana's is a full-service restaurant resale with a real-estate-heavy twist — many locations sit on free-standing pad sites with their own parking, and the patio seating that's part of the brand's identity often needs its own seasonal municipal approval on top of the usual liquor licence, lease, and health-unit steps.
Montana's resales follow the franchisor's own approval process on top of the usual purchase mechanics — here's how the two run together.
Getting approved
The offer sets price and structure and should build in the conditions specific to a pad-site restaurant: franchisor consent, landlord or ground-lease consent, and AGCO licence transfer.
1–2 weeks†The franchisor reviews the incoming operator and the proposed terms before consenting to the transfer of that specific location.
3–6 weeks†An Arthur Wishart Act disclosure document may still be required even where the deal is framed as a private resale — the exemption is read narrowly by Ontario courts, so this gets confirmed early.
assessed early†Getting to closing
The lease or ground-lease assignment, the AGCO liquor licence transfer, and the patio's municipal permit or licence all move on their own timelines — the patio permit in particular is worth confirming early if the deal is closing near patio season.
often the critical path†The franchisor typically requires the incoming owner or a designated manager to complete a training program before or shortly after closing.
2–4 weeks, overlapping other steps†Funds, keys, and signed documents change hands, alongside an inventory count and whatever interim licence mechanism bridges the gap until the AGCO transfer is finalized.
1 day, once conditions are met†Listed among Recipe Unlimited's franchisable brands on its official franchising page
National BBQ/casual-dining chain with numerous Ontario locations
This is the first real decision in a Montana's resale — and it changes what you're buying, what you're taking on, and how the franchise agreement moves.
| Question | Asset purchase | Share purchase |
|---|---|---|
| What you buy | The location's assets — kitchen and bar equipment, the parking lot and patio improvements, inventory, the lease or ground lease, and the franchise agreement's benefit, subject to consent. | The shares of the operating company — every location it holds, and everything the company owes. |
| Franchisor consent & ROFR | Required for the specific location changing hands. | Required for the change of control itself, across every location the corporation operates. |
| The AGCO liquor licence | Transfer application, or a new licence bridged by an interim authorization to keep serving while it's processed. | Stays with the corporation, but AGCO must be notified of the ownership change. |
| The lease or ground lease | Needs landlord consent to assign — a free-standing pad site's ground lease can carry different terms than an in-line plaza unit. | Usually stays in place unless it has its own change-of-control clause. |
| Patio permit / municipal licence | Typically needs to be reissued or updated in the new operator's name, especially where the patio sits on municipal or shared parking-lot land. | Stays tied to the corporation, though the municipality is generally notified of the change. |
| Tax angle | Buyer gets a stepped-up cost base on the assets purchased. | Seller may access the lifetime capital gains exemption on qualifying shares. |
The location's assets — kitchen and bar equipment, the parking lot and patio improvements, inventory, the lease or ground lease, and the franchise agreement's benefit, subject to consent.
The shares of the operating company — every location it holds, and everything the company owes.
Required for the specific location changing hands.
Required for the change of control itself, across every location the corporation operates.
Transfer application, or a new licence bridged by an interim authorization to keep serving while it's processed.
Stays with the corporation, but AGCO must be notified of the ownership change.
Needs landlord consent to assign — a free-standing pad site's ground lease can carry different terms than an in-line plaza unit.
Usually stays in place unless it has its own change-of-control clause.
Typically needs to be reissued or updated in the new operator's name, especially where the patio sits on municipal or shared parking-lot land.
Stays tied to the corporation, though the municipality is generally notified of the change.
Buyer gets a stepped-up cost base on the assets purchased.
Seller may access the lifetime capital gains exemption on qualifying shares.
We tell you which structure fits — before you sign anything.
No open-ended hourly surprises — the cost is confirmed in writing before any work begins.
| Type of work | Fee | How it's confirmed |
|---|---|---|
| Straightforward purchase or sale | Starting from $3,388.87 Our charges · taxes included | Confirmed in writing once we see the agreement. |
| Larger or more complex deal | Quoted to scope | Short call → fixed written quote before any work begins. |
| Searches, filings & third-party fees | At cost | Itemized on your invoice, not marked up. |
A single Montana's location on a pad site, changing hands between one buyer and one seller.
Start my file →A multi-location operator selling several restaurants as one operating company, or a resale involving an owned or ground-leased property that needs its own diligence.
Book a consultation →Not sure which you are? That's our job to figure out, not yours. As a rough guide, most deals under a couple of million dollars are the first kind — above that, you're usually in Mergers & Acquisitions territory.
That depends on how the real estate is held — many Montana's locations sit on a leased pad site rather than owned land, so what's included is defined by the lease or ground lease, not assumed from what's on the property.
Often, yes — where a patio sits on municipal or shared parking-lot land, the permit or licence is typically reissued or updated in the new operator's name. We time this so it's in place before patio season if closing falls near it.
Often, yes — where a patio operates under its own authorization rather than being folded into the main premises licence, it typically needs to be addressed as its own step in the transfer. We confirm how your location's licensing is structured before the applications go in.
Not automatically — a franchisor-facilitated resale can look exempt from Arthur Wishart Act disclosure requirements, but Ontario courts have read that resale exemption narrowly. We assess whether a disclosure document may still be required for your specific transfer.
Often, yes. Buying an operating company that holds multiple locations is more commonly done as a share purchase, so every location's franchise agreement, licence, and lease or ground lease stay intact at the same time.
Related
Where we close franchise resale deals
Treadstone Law is an independent law firm. We act for buyers and sellers of franchise businesses. We are not affiliated with, endorsed by, or retained by Montana's or its franchisor.
Tell us about your Montana's resale — we'll point you the right way and confirm the cost in writing before any work begins.