SellingRestaurants.com sells 21 restaurants in the first quarter of 2018.
"It feels a bit like 2007 again" says Mel Jones, CEO of SellingRestaurants.com, "with investor's optimism translating into more business buying. Multiples paid for businesses are increasing, leading to higher sales prices as buyers are expecting greater sales and profits in the future as a result of the tax cuts and strong consumer confidence. We're expecting this trend to continue through 2018."
We had 9 listings expire and sold 21 to date; that's a 70% success rate, far exceeding the industry standard of 20%. We attribute this to doing our homework on our client's business as well as professionally preparing the businesses for market.
The value of these transactions were $5.3 million for an average sales price of $252,000.