SellingRestaurants is on fire with 32 restaurants sold in the first half of 2017, beating records dating back to 2008, before the great recession. The total sales price of these restaurants is more than $7 million.
“The year started slow” says Mel Jones, CEO of SellingRestaurants “as people were in a wait and see mode relating to the new president.”
In 2016, SellingRestaurants sold 38 restaurants for the entire year, most in the first half. The circus-like election process last year took the focus away from business buying, with only a handful of restaurants sold in the second-half of 2016.
“There was a wait-and-see period after the Presidential inauguration” says Mel “and then in March the board started to light-up, people were calling, making offers and people started to jump–in buying a business. We’re seeing larger deals than we’ve ever seen with one deal at $1.5 million and many deals at the $500,000 level and these are very profitable businesses.”
Despite the state imposed challenges business owners face with increased minimum wage laws, more regulations and upward rent pressures, people are looking for investments with good returns. Few businesses have the return on investment that restaurants generate. Sure one has to work hard, but the returns can be in excess of 40% on a dollar invested.
If you’re interested in selling your restaurant, please contact SellingRestaurants.com at 800.576.3615.
Mel Jones is one of the premier restaurant brokers in the nation having published hundreds of articles on buying and selling a restaurant and bar business, selling thousands of restaurants in CA., WA and AZ and building one of the most copied business models in the brokerage industry. Mel started SellingRestaurants in 2004 with the one simple concept, give the buyers the information they need to make intelligent buying decisions without being pestered by a broker or hiding information, prepare the business for market by researching key details that make or break deals and educate the buyer on the buying process to create an intelligent buyer. Prior to SellingRestaurants, Mel was a Chief Financial Officer for Universal Music Group, the largest music company in the world. There he participated in more than $11.5 billion of merger and acquisition transactions. He also work for top companies such as Nestle Foods, USA. He hold a Bachelors in Business Administration Finance as well as attened Law School at Gonzaga University. Give Mel a call at 480.274.7000 or e-mail him at [email protected] if you have any questions.