As the leaves begin to change color, it’s time for the restaurant brokers to look back and see which of our restaurants for sale generated the most activity for the month. October 2014 was a month with new leads and buyers entering the market at unprecedented levels. This was reinforced by a recent BizBuySell survey for third quarter of 2014 reporting that closed transactions increased by 17.9% in third quarter over last year. It was the highest number of small business sales ever recorded in the survey which started in 2007.
Bizbuysell reported that listings increased as well saying, “Service-related businesses led the way with a 17 percent increase while manufacturing was up 16.2 percent and restaurants up 13.3 percent compared to last year."
We Sell Restaurants, the nation’s largest restaurant brokerage firm measures the most active listings by looking at signed confidentiality agreements, buyer online activity, phone calls and offers.
The most popular listing this month was a waterfront restaurant for sale offered for under $40,000! This listing generated not only activity in terms of buyers “looking”, it created a multiple offer situation with the seller accepting the best offer in a matter of days. It’s now heading to the closing table thanks to the efforts of restaurant broker JK Kenny.
The second most popular restaurant for sale listing was another low price offering. This chicken wings restaurant for sale with an unbelievable lease rate for the Atlanta metro brought out buyers who looked at taking over the existing operations and bringing in a new concept of their own.
Third on the restaurant brokers list of the most popular businesses for sale in the month of October was a bar and grill. This great property features both six figure earnings and lending that is already established with a local bank.
Georgia was not the only state with prime restaurants for sale attracting activity. This central Florida listing offered by Robin Gagnon is a beautiful spot. The turnkey location with a wonderful outdoor patio space attracted a number of buyers. The like new location is still on the market.
Halfway through the hit parade of the most popular restaurants for sale and this pizza shop for sale made its first appearance. The business, priced under 90,000 has a great rental rate a only $1500 per month for the 1300 square foot space in the desirable East Cobb market. This area is home to many families and is a winning location for an owner operator to take over.
The downtown Atlanta marketplace is booming with the Ferris Wheel, Streetcar and new College Football Hall of Fame to name just a few of the sites driving tourist traffic. This bar and restaurant space for lease is well equipped and ready to go. The landlord is fielding offers with the help of the restaurant brokers and is looking for a strong operator or franchise for the space.
One of our newest listings is this Atlanta Bread franchise bakery for sale in the Atlanta metro. Just released in the last days of the month, it drove tremendous traffic and activity in a short period of time, landing it on the top ten list of restaurants for sale in Atlanta.
This restaurant space for lease in downtown Atlanta is near a major university and that got buyers very excited about the opportunity. The fully equipped restaurant for lease is ready to go for a new concept. We are close to an accepted offer on this one.
Continuing in the theme of restaurant space for lease, this Golf Course space in Florida attracted a lot of lookers with rent of just $3500 for a 3000 square foot space.
Last on the hit parade of restaurants for sale this month was a Colorado listing for a bar and grill for sale by our Colorado Restaurant Broker Bob Steinberger. This profitable location for less than $150,000 generated strong interest.