Performance is critical when buying a restaurant, a known fact to savvy buyers today. BizBuySell Insight Report 2024 Q2 reports support the theory that buyers desire to invest in a performing and established restaurant or other business.
The Insight report notes that 42% of buyers say performance matters most, followed by growth potential at 26% and location third at 15%. These results have been consistent for several years, with buyers favoring stable business opportunities. How does this information help potential Restaurant Sellers or For sale by Owner?
Restaurant Broker tips to Restaurant Owners to get maximum value on a Restaurant Valuation:
-Sell your restaurant while you are WINNING
-Keep good books and records
-Don’t write off unnecessary expenses to keep net profit high
-Pay yourself a W-2
-YES report CASH sales
-Make sure your lease is transfer-friendly
The following tips are helpful for a restaurant buyer when evaluating a restaurant to buy. Interested buyers will pay premium prices for restaurants with a track record of performance backed up by tax returns.
The Internet lets buyers track restaurant performance through online reviews, social media accounts, and pictures, before deciding to sell a restaurant, a restaurant owner should take charge and go online to grade its online performance.
It’s essential to understand your goals before buying a restaurant. Your goal could be to buy a restaurant based on performance, growth potential, and location. This decision will affect the price you will spend on an investment.
Restaurant Business Broker tip: Buying an existing restaurant for sale is a reassuring way to reduce risk and improve your chances of success in the restaurant industry.
For more information on the restaurant market and other available consulting services or a complimentary restaurant valuation, contact Restaurant Business Broker Dominique Maddox at 404-993-4448 or email at [email protected]. Visit our website at www.EATSbroker.com
