Why are the restaurants sold?
Total amount of the bargains occurring in the restaurant market is difficult to estimate - the majority of them carry closed, their participants prefer not to say the real sum, for which the restaurant was sold.
In most cases (80-85 percents of all bargains) the reason inducing the proprietor to sell business, is connected with decrease of its efficiency (deterioration of work of the company, disagreement among the proprietors, weakness of hired management.) Other reasons can be weariness from employment by business, aspiration to try itself in new sphere of activity, departure abroad. Effective business are sold not frequently, though the tendency to sale the companies which are taking place on peak of success recently was planned - then for them it is possible to receive a ceiling price.
The reason of sale can become shortage of means for the further development: the company can stably work and produce a profit, but insufficient to develop the company according to inquiries of the market.
In USA the basic reason of sales of business - high population shift, the businessman sells the business, because simply solves to move to other state, in Germany the withdrawal of the proprietor from businesses owing to achievement of pension age prevails.
For example, to open new restaurant or to expand already existing network, the owner can sell one of the already popular projects. Such restaurant can be sold by its owner to start the new project. It concerns not only restaurants, but also a number others busineses, perceived as "female", for example, beauty salons, clubs - the expensive gift soon appears to uninteresting its addressee. It is the reason for sale and at the same time popular basis for purchase.
Why are the restaurants bought?
By the basic reasons, on which the investors wish to enclose the means in purchase of restaurant, it is possible to name aspiration to expansion of business and desire to organize own business understood as a stable source of the income, not putting forces in organization of the original projects. Getting ready restaurant, the buyer thus avoids a lot of problems connected with uneasy in the organizational attitude by the period of restaurant standing as a business. Accordingly questions with an orientation of an enterprise are solved at once, are already legalized relation in the sphere of the real estate, there is a necessary equipment, personnel, menu, clientele, accounts department. Many buyers guided by such motives, prefer business controlled by the hired manager.
Many giants of the financial world show interest to restaurant business, considering restaurant as the project, place for realization of corporate evenings, business - lunch, negotiating and conclusion of the contracts.
How many does this business cost?
Even having sold restaurant, not always it is possible precisely to tell, how many it costs, as recently on sale are even more often exposed complex business including not only enterprises of a meal, but also every possible "appendices" called to attract maximal of the clients. It can be a sun deck a disco etc. The advisers for sales divide restaurants into three types, for each of which there is a strategy of sale.
The enterprises of the first and second type work on the rented areas, thus term of rent makes 1-5 years. First group includes small restaurants "for every day"; in second the projects, which cost in 2-3 times higher than any of their "smaller brothers". The third category - enterprises sold together with a premise, taking place in the property. Here most part of cost is made by the real estate, and only then there is business capable to be on sale and separately. Cost of restaurant is defined first of all as cost of business in use. The more income of restaurant, the higher its ability to generate profit (it depends on the concept, image, cuisine, advertising and the number of other factors), the higher market cost will be. The real estate cost of business is separately estimated. Thus the investors show the rigid requirements on pay0back periods - per 1,5-2 years.
In the market simultaneously there are three prices: required by the seller (as shows experience, it on 30-40 of percents above real), offered by the buyer (they aspire to pay less) and designated by the adviser. Last takes into account all factors, including liquidity of business, and, as a rule, is close to which the restaurant is really sold for. The wrong price can ruin the bargain.
The owners of the company have counted, that the advertising will allow them favorably to sell the project. But the price exceeded reasonable representations about it not less than in 3 times.
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