Buying a Dickey's Barbecue Pit franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 16 7(a) loans to buy an existing Dickey's Barbecue Pit (classified mostly as Full-Service Restaurants), totaling $5M. The median loan was $275,000, 57% lower than the $645,250 median for all SBA-financed acquisitions. 3 of these loans were approved in the last two fiscal years.
Terms signed in the LOI shape the purchase agreement that follows.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Dickey's Barbecue Pit resale loans landed between $232,250 and $398,075.
- Lender experience exists. BankFirst Financial Services alone has financed 3 Dickey's Barbecue Pit resales.
- Guaranty. The SBA guaranteed 74% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Dickey's Barbecue Pit resale
The median SBA 7(a) loan for a Dickey's Barbecue Pit resale was $275,000 across 16 loans (FY2018 to FY2026). BankFirst Financial Services, Newtek Bank, National Association and Gulf Coast Bank and Trust Company have financed the most Dickey's Barbecue Pit resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Dickey's Barbecue Pit acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $350K | $350,000 | |
| FY2019 | 2 | $807K | $403,500 | |
| FY2020 | 2 | $714K | $356,850 | |
| FY2021 | 4 | $1.4M | $273,500 | |
| FY2022 | 1 | $227K | $227,000 | |
| FY2023 | 3 | $889K | $364,200 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 3 | $600K | $275,000 |
How often do these acquisition loans fail?
Fewer than 20 Dickey's Barbecue Pit acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Lenders financing Dickey's Barbecue Pit resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | BankFirst Financial Services | 3 | 18.8% | $889K | |
| 2 | Newtek Bank, National Association | 3 | 18.8% | $600K | |
| 3 | Gulf Coast Bank and Trust Company | 2 | 12.5% | $925K | |
| 4 | Luminate Bank | 2 | 12.5% | $481K | |
| 5 | Celtic Bank Corporation | 1 | 6.3% | $558K | |
| 6 | Open Bank | 1 | 6.3% | $510K | |
| 7 | BayFirst National Bank | 1 | 6.3% | $350K | |
| 8 | Hanmi Bank | 1 | 6.3% | $249K | |
| 9 | The Pecos County State Bank | 1 | 6.3% | $227K | |
| 10 | The Huntington National Bank | 1 | 6.3% | $204K |
States where Dickey's Barbecue Pit units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 5 | 31.3% | $1.8M | |
| 2 | Colorado | 3 | 18.8% | $1.2M | |
| 3 | Alabama | 2 | 12.5% | $389K | |
| 4 | Montana | 2 | 12.5% | $325K | |
| 5 | Mississippi | 1 | 6.3% | $500K | |
| 6 | Florida | 1 | 6.3% | $350K | |
| 7 | Texas | 1 | 6.3% | $227K | |
| 8 | Michigan | 1 | 6.3% | $204K |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
How lenders classify Dickey's Barbecue Pit
Lenders code each loan to a NAICS industry. For Dickey's Barbecue Pit the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 8 | 50.0% | $2.8M | |
| 2 | Limited-Service Restaurants | 8 | 50.0% | $2.2M |
Questions buyers ask
How much do buyers borrow to buy a Dickey's Barbecue Pit franchise?
The median SBA 7(a) loan for a Dickey's Barbecue Pit resale was $275,000 across 16 loans (FY2018 to FY2026). The middle half of loans ran from $232,250 to $398,075. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Dickey's Barbecue Pit acquisitions?
BankFirst Financial Services has made the most SBA acquisition loans for Dickey's Barbecue Pit (3, 19% of the total). Newtek Bank, National Association, Gulf Coast Bank and Trust Company, Luminate Bank follow.
What interest rate and term do Dickey's Barbecue Pit acquisition loans carry?
The average initial rate at approval was 7.73% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Dickey's Barbecue Pit resale riskier than other SBA-financed acquisitions?
Too few Dickey's Barbecue Pit acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Dickey's Barbecue Pit units being bought with SBA loans?
California (5), Colorado (3), Alabama (2), Montana (2), Mississippi (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Full-Service Restaurants acquisitions
- California acquisitions
- Colorado acquisitions
- Alabama acquisitions
- BankFirst Financial Services
- Newtek Bank, National Association
- Gulf Coast Bank and Trust Company
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Dickey's Barbecue Pit" (franchise code S0505). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.