As most of us know, the restaurant industry enjoys nearly universal popularity among consumers. Restaurants provide a practical service while offering a favorite source of leisure. Perhaps unsurprisingly, 9 in 10 consumers state that they “enjoy going to restaurants,” while half of all consumers claim that “restaurants are an essential part of their lifestyle.”
Restaurant industry sales have experienced consistent yearly growth in recent years, and sales are projected to grow to $786 billion by the end of 2016. A recent increase in higher income households – the source of most spending in the restaurant industry – will have an even more positive impact on consumer demand for restaurants. Additional trends such as strong employment, wage growth, “pent-up” demand, and a consumer preference for “experiences” as leisure will all contribute to a positive business environment for restaurant owners in the near future.
The restaurant’s unique business model complements this consumer demand. Generally, restaurants rank among the most affordable types of business, providing the perfect opportunity for an owner with a culinary passion, dedication to customer service and good business skills to see excellent profit margins.
Buying an already existing restaurant makes this opportunity even better. An already existing restaurant allows the owner to skip the usual time it takes for a new restaurant to become profitable. With an established restaurant, the owner has existing clientele, brand identity, cash flow and trained staff, among many other incredible resources. Furthermore, the buyer often benefits from the fact that location is already built out and ready to go which can save time and money required for permits when building a restaurant. And the resale price can be less than the original build out costs. This makes for a winning combination for the buyer.
If you are considering the purchase or sale of a restaurant, Transworld is the go-to source to prepare your deal and meet vetted buyers or sellers. If interested in purchasing a restaurant, Transworld’s business advisors will work with you to determine your abilities and interests, educate you about the search and buying process and connect you with restaurant sellers that match your criteria. If interested in selling your restaurant, Transworld’s experienced advisors will offer full marketing support, including expert valuation and strict confidentiality, while introducing you to prospective buyers. Transworld will be involved at all stages until both parties reach their goal and the restaurant changes hands.
Click here to view our list of restaurants for sale. For each listing, we include detailed descriptions of each restaurant for sale along with some basic information such as price, down payment, number of employees and inventory. We offer a number of sub-categories that cover all types of restaurants, so you can specify whether you interested in, for example, a coffee shop or a gourmet dining establishment.