BBQ restauarant has asked me 3x for my sauce recipe.

[Fresno Bob]

Don't sell him the recipe. Offer to license it. One of the lawyers can give specifics, but something along the lines of:
1) He can make as much as his restaurant can use
2) He can bottle it for sale, with a royalty to you
3) He cannot give the recipe to anyone without written consent
4) Right to use your name is a separate issue

Protect yourself, eg notarize a copy of the recipe to prove dates. That said, why not let him use it? If it's a hit, it could generate some cash flow. Just retain rights.

J

offer to sell him the sauce pre-made by you

[Papa Deuce]

OK, so I went to the restaurant, but the guy wasn't there, but his wife was. She didn't think her husband was offering ANYTHING for the recipe. She thought he was hoping I would share my recipe with him.... So, I guess that ends that.

[Judge Jude]

What's the wife look like? Maybe you should ask if he'll share - no charge, of course.

[madducks]

OK, so I went to the restaurant, but the guy wasn't there, but his wife was. She didn't think her husband was offering ANYTHING for the recipe. She thought he was hoping I would share my recipe with him.... So, I guess that ends that.

You should have used the Scott Boros approach and said that another restaurant has already made you an offer. But, you wanted to give them a chance since they were the first to show an interest.

[Judge Jude]

plus get Jon Heyman to tweet about new "mystery BBQ place" emerging as potential bidder....

[schlesinj]

Heyman just tweeted Smokey Bones BBQ is interested. Once you get a franchise like that interested the price goes up. It seems like Smokey Bones has unlimited money since the franchise is in a large market.