The idea of owning a restaurant is a lifelong dream for many foodies and would-be business owners. Finding an established restaurant for sale is usually a better approach than starting one from scratch. The statistics don’t lie. Start-up restaurants have a 25% failure rate within the first year of business and a 60% failure rate within the first three years. Unless you’re someone like Gordon Ramsay or Bobby Flay, chances are you'll be chopped. An existing restaurant is another matter entirely. If you're thinking of buying a restaurant, look for something in a good location. It should be clean and up to code, have a good reputation, a strong customer base, and include a loyal and talented staff.
There are several types of restaurants, ranging from drive-ins and fast food options, to buffets and fine-dining establishments. Many restaurants that are for sale by the owner are single-location, non-franchised, full-service, sit-down restaurants. This restaurant segment alone represents a $160 billion industry that includes American, Mexican, Chinese, and seafood restaurants, as well as pizza parlors and steakhouses. Top restaurants such as Boca, Le Cirque, and The French Laundry are just a few examples of how a successful restaurant can be a gold mine for the right entrepreneur. Browse the BizQuest today and buy a restaurant tomorrow! Hide description Read more
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