bizzday April 30, 2019 No Comments
India, we all know is one of the most populous countries in the World. With 29 states, 7 Union Territories and more than 100 big cities the country is a vast place to explore and grow in doing business in India. The sprawling landscape and diversity of India offers great opportunity and challenges when it comes to buy or sell a restaurant business.
Besides restaurants, coffee shops are also in fashion and are profitable business for that matter. The best thing about a Coffee shop is, it requires less involvement of the owner. It is easy to buy or sell a business in Chennai, Bangalore, Hyderabad, and Delhi or buy sell any business in India or in any metro city for that matter. Even tier 2 cities have easy accessibility these days due to the technical advancement. You may have reference of India business for sale online business broker’s bizzday.
Why many are opening new restaurant?
Since restaurant business is considered one of the most profitable business amongst all, people are often inclined to start their own restaurant. Revenue in restaurant business is quick and immediate. More often than not, if the location of the restaurant is prime and the menu is salable than turn overs are also high in restaurant business in India as well as in USA. Now the interest have grown up to buy a running restaurant business in indie and usa. Let’s see how to find a business for sale in India or usa instead of starting from scratch.
Why many are selling their existing restaurants within no matter of time?
Undoubtedly, restaurant business is a profitable and high revenue generating business. But, quite often people who are already working in IT field and have less or no experience of the field start their restaurant business. Due to their busy schedule hey are not able to balance their work and business, they don’t look after their restaurant and leave it on the workers which in turn cause the loss sometimes unbearable loss. Sometimes the workers are not retained and because of which most owners shut them. Other major factor of holding the restaurant with ridiculously rising rent.
Need help then refer the articles from Bizzday business brokers website to analyze how to protect from the tags “Business for sale” “India business for sale” “running business for sale”
Why technology is required in every business?
Unlike olden days there are many online platforms such as like Uber Eats, Zomato, Swiggy, food panda. Etc., which are ultimately helping the overall sale of restaurant businesses. Even very sick restaurants have been growing because of online food partners.
Same way when you sell a restaurant business then online business marketplace players like Bizzday business brokers helps in your Business for sale process.
Looking to buy a restaurant-where should you start?
Due to the high competition for space and lack of inventory in many popular cities; it’s important that you are prepared to compete in the market especially when you get the perfect restaurant. Here are few pointer prior to looking for a restaurant for buying in India:
A pitch deck is a summary of your restaurant, which includes one year of financial projections and other details for you and your partners (if any).
If you are planning to lease a restaurant, potential landlords will want to see your menu. So, you will need a menu to define the exclusive use clause in your agreement, whether you plan to locate in a shopping center or in any other property with multiple restaurant tenants.
Your finances matters a lot while you plan to buy or lease or franchise a restaurant. Because, your credit worthiness is the biggest factor. You have to be prepared with two years personal tax returns, bank statements, credit application and proof of funds available etc.
Where should you look to buy a restaurant or coffee shop?
Well, for this the most important factor is your concept, which will greatly determine which location you should consider when you start your search to buy a restaurant. Is your concept is fast food, or fine dining? Or are your targeting lunchtime employees or students in a locality? Your trade area will depend on your concept.
What is a trade area?
Area, which defines 80%of your potential customer base is called a trade area. Make sure your trade area consists of a large enough population that matches your ideal customer. Also, your trade area should be convenient enough for your customers to visit your restaurant within a short drive or walk.
Also, you can franchise a restaurant.
Restaurant franchising is also in trend these days, you can find a franchise a restaurant if not planning to buy one. There are several restaurant chains which franchise their business in order to reach out more and more people. Few of these chains are: McD, Barbeque Nation, Dominos, Lassi shop etc. Franchising a restaurant is an easier task than buying or starting a new one. The best thing is brand is already established so you need not to do much to promote the brand. Also, they provide initial trainings and help you in the initial functioning of the restaurant business.
How to find a restaurant for lease/franchising/buying in India and usa?
There are two methods primarily used to find a restaurant for lease/franchising/buying in India. They are:
Offline methods are age-old methods of fining a restaurant on sell, like you will have to look in a hot neighborhood for a restaurant to buy, chances are you will not find any good option. Basically, to find a restaurant for lease/franchise/buy in these neighborhoods quite often requires patience and finding “off market” deals.
Or else you can contact a real estate broker to take help in finding a desired property. Then you with your real estate advisor can contact existing restaurant owners and/or property owners. If by chance you will get any deal also, it may not come out to be perfect deal. Also, you can contact the landlord, there are several other things which you need to know prior to finalize the deal.
Moreover, you can call the restaurant operator, send an email likewise several activities need to be done. Which not necessarily give you the desired outcomes. Offline methods to find a restaurant for sell or franchise is often more challenging. Most often they have a limited liability company so they hide their name and contact information from the general public. If lucky, your restaurant real estate advisors may be able to track down the true contact.
But all in all these steps are quite a tiresome and there is no guarantee of getting proper place also.
We all know how Amazon, Flipkart, eBay etc.,have changed our shopping experiences, similarly the online brokerage firms has changed how to find a restaurant for sell/buy/lease/franchise. Any search is easy with internet. If you search “restaurant for sell” or “restaurant for lease/sell in India” on Google, multiple websites and restaurant real estate advisors will appear online, who can provide you all the relevant information about available restaurants for sell/buy/lease/franchise.
There are many such websites or online platform from where you can gather all the required and relevant information regarding restaurant business. Bizzday.com is an online platform and a restaurant business broker. Bizzday.com can be your perfect choice as its services are best in the Industry. You can buy or sell your business here at bizzday business brokers. It offers you facility to post 8 images for business listing, along with that one posting with 150 days of validity. Also, the platform is absolutely free for one and all. It provides free consultation and business evaluation.