bizzday August 5, 2019 No Comments
Why You Must Experience Restaurants for Sale At Least Once In Your Lifetime.
The way the world’s population has increased and increased day by day, and the technological advancement which has provided ease to all. It has given rise to many new opportunities and businesses, and a restaurant or food business is one amongst them.
Business for sale are readily available these days and are better choices for those who want to stay free from hassles of starting one. Restaurant for sale is also easily available.
In fact, besides restaurants, coffee shops, online food facility, tiffin services, etc. are also in fashion and are profitable business options. The best thing about the restaurant business is, it requires less involvement of the owner. It is very easy to buy or sell a restaurant business in Bangalore, Chennai, Delhi, and Hyderabad or in any other metro city.
Due to technical advancement, even tier 2 cities have easy accessibility for buying a restaurants for sale. Let’s find what the popular restaurants for sale website Bizzday online business brokers can offer.
We all know how a restaurant business in India is rising. It is considered one of the most profitable businesses amongst all, and that’s the reason people are often interested to start their own restaurant business in Bangalore or Chennai. The best thing is revenue in the restaurant business is quick and immediate. And, that is why you must experience restaurants for sale at least once in your lifetime.
Moreover, if the location of the restaurant for sale is prime and the menu is sellable, then the turnovers will automatically be high. How a seller can leverage Bizzday online India business brokers for a restaurant for sale in Bangalore, restaurants for sale in Chennai, restaurant for sale in Delhi. Just post your business listing in Bizzday that’s it. Buyer can easily find a business for sale in his search terms.
Why do many restaurateurs choose to sell their existing restaurants within no matter of time?
There is no doubt that the restaurant business is a profitable and high revenue-generating business. But, quite often people who are already working in different fields and have less or no experience of the restaurant, sometimes start their restaurant. Due to their busy schedule sometimes they are not able to balance their work and business simultaneously. In the process, they get less or no time to look after their restaurant and leave it on their workers, which in turn leads to unbearable loss.
If not this, then usually retaining workers becomes difficult, because of which also most owners choose to shut their restaurant business. Also, unlike olden days there are many online platforms such as Zomato, Swiggy, food panda, etc. Which is also affecting the sale of the restaurant business?
Where should you start from for a restaurant business for sale?
Undoubtedly, the restaurant business is a highly profitable business, but with that comes many other issues too. So, to combat those issues it’s important that you are prepared to compete in the market. Here are some important factors which you need to consider before buying a restaurant for sale:
A pitch deck is a summary of the restaurant, which includes one year of financial projections and other details.
You will need a menu if you are planning to lease a restaurant, as the potential landlord will want to see your menu.
Your finances matter a lot while you plan to buy or lease or franchise a restaurant. Because your creditworthiness 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. before you buy a business for sale.
For the location, the most important factor is the concept of your restaurants, such as fast food, or fine dining, or targeting lunchtime employees or students in a locality. Concept of your restaurant will greatly determine the location when you start your search to buy a restaurant for sale. So, basically, your trade area will depend on your concept.
Area, which defines 80%of your potential customer base is called a trade area. So, when you buy biz for sale, make sure your trade area consists of a large enough population that matches your ideal customer. Also, it should be convenient enough for your customers to visit your restaurant within a short drive or walk.
Find a restaurant for lease/franchising/buying in India
Primarily, there are two methods to find a restaurant for sale. They are:
Offline methods are age-old or traditional methods of finding a restaurant on sale. For instance, your friend is selling his restaurant as he is shifting to some other location or maybe because of any other reason. Or your relative is not keeping well to maintain the restaurant he wants to sell it off.
Likewise, if you come across someone in your contact selling his/her restaurant is an offline method of buying or selling a business. But, to find a restaurant for sale/lease/franchise in these neighborhoods quite often requires patience and finding “off-market” deals.
Or you can also take the help of a real estate broker to find the desired property for you. You with your real estate advisor can contact existing restaurant owners and/or property owners. Chances are you may get some good deal in the process. Also, you can contact the landlord directly, 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 or a phone call or a personal meeting can be done. But not necessarily all these will give you the desired outcomes. Offline methods to find a restaurant for sale or franchise is often more challenging.
More often than not, 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 troublesome and there is no guarantee of getting proper place also.
Like these online shopping platforms such as Amazon, Flipkart, eBay, etc., have changed our shopping experiences, similarly, the online brokerage firms are providing customer services that help one to find a restaurant for sale online. Anything you can search via the internet.
If you search “restaurant for sale” or “restaurant for lease/sell” or “business for sale” or manufacturing unit for sale” on Google, multiple websites and restaurant real estate advisors will appear online. They can provide you all the relevant information about available restaurants for sale or business for sale.
There are many such websites or online platforms which can help you gather all the required and relevant information regarding restaurant businesses. However, Bizzday.com is the best of all. Bizzday is an online platform and a restaurant business broker.
Bizzday can be your perfect choice as its services are best in the Industry. You can buy or sell your business here at Bizzday. It offers you the facility to post 8 images for business listing along with one posting with 150 days of validity. The best part is this platform is absolutely free for one and all. It provides a free consultation and business evaluation. Contact Bizzday and get the best business for sale.
Happy Businessing….. ☺☺