How is the restaurant for sale marketplace? We Sell Restaurants weighs in on the best restaurants for sale. We measure based on activity, calls to our Certified Restaurant Brokers and clicks online to gauge what our customers view as the best restaurants for sale.
What is all the activity reflecting? Strong interest. That's important since the number one question we receive today is whether restaurants are selling despite the events of 2020. The short answer is yes. We are seeing those buying a restaurant change their behaviors in significant ways but they are definitely making acquisitions. Key behavior changes include:
Buyers are looking for lease space and low price listings at one side of the spectrum. Twenty percent of the top ten were lease spaces and forty percent were priced under $50,000.
Buyers from Lock Down States are Shopping Florida, South Carolina, Texas and Georgia. Restaurant buyers are starting to relocate, particularly chefs "locked down" and out of business in New York, Michigan and New Jersey. They are looking south for tremendous savings on rent and opportunities to rebuild where restaurants are open for business.
Concepts with Alcohol remain Strong. Forty percent of the top stores on our list fielding inquiries serve alcohol. It could be that 2020 has led to all of us drinking more. It may simply be that buyers see the allure of a liquor license as a powerful add-on. No matter the reasons, alcohol is resonating with our clients.
High Price Listings are moving as well. While not reflected in the top ten (there's only room for ten after all), there is incredibly strong activity on the high side of the market and for pizza restaurants. Buyers are paying a premium for strong returns and most of the pizza restaurants for sale are snapped up and thus, won't show up in the list below as they are already in contract.
Does the We Sell Restaurants data mirror the national scene? We believe it is predictive of where the market is going. We forecast strong opportunity ahead based on the announcement on the vaccine, pizza trending very high above last year and relocation from shut down states to those less restrictive. Here's the best restaurants for sale in the month of October in order.
Want to know about the market? Keep an eye on our blog where we update you on current affairs and keep you informed.