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Why Do Restaurant Owners Sell?
September 5, 2006
Over the years Restaurants For Sale
Online has listed thousands of
restaurant, bar and nightclub
opportunities and dealt with tens of
thousands of buyers who often have
questions. A question of curiosity
which has come up often over the
past year, is "Why Do Restaurant
Owners Sell?" Although this question
may be obvious to some, and
irrelevant to others, Restaurants
For Sale Online finds it our duty to
try and provide answers to any
question we can. Over the years we
have heard hundreds of reasons why
owners may decide to sell their
restaurant, but we were able to
break it down into 8 main categories
and compiled results from 1,000 of
the most recent active restaurant
for sale listings.
The top 2 reasons for why the
owner is selling their
restaurant make up nearly 63%.
Pursuing other interests is the
#1 reason people decide to sell
their restaurant. This is a very
common response and can mean a
variety of things from the
restaurant not being successful
and the owner pursuing other
interests, to the restaurant
being very successful and the
owner making a decision to get
out of the restaurant business.
Retirement came in at #2 as many
restaurant owners have been in
the business for decades and are
ready to retire, and #3 was
relocating which could be the
owner either relocating their
business or home which resulted
in them having to sell. Below find all
the rankings with more details.
#1) Pursuing Other Interests:
35.5%
(downsizing, focusing on
other locations, other business
opportunity, pursuing other
careers, school, etc.)
#2) Retirement: 27.1%
(retiring, or cashing in on
venture)
#3) Relocating: 13.5%
(relocating business,
relocating home)
#4) Personal: 7.4%
(overwhelmed, lifestyle
change, cashing out, financial
difficulties, etc.)
#5) Health Issues: 6.9%
(personal or family health
problems)
#6) Family: 4.8%
(spend more time with
family, death in the family,
other family commitments)
#7) Partnership Conflict: 2.8%
(partner dispute, divorce)
#8) Other Reasons: 2.0%
DISCLAIMER
The
information in our articles has been
provided by Jacob Zimmerman of
Restaurants For Sale Online, LLC
based on exit surveys completed from
June 2005 through May 2006.
Restaurants For Sale Online makes no
guarantees. All listings are unique
and receive varying response.
Jacob Zimmerman and Restaurants For
Sale Online assumes no
responsibility for decisions made by
buyers, sellers or other parties to
any transaction. Information has
been provided based on experience
and research. The results of various
articles and studies reflect such
information. Restaurants For Sale
Online assumes no responsibility for
pricing or recommendation of pricing
to any of our users. If you are
interested in buying a business or
piece of real estate, Jacob
Zimmerman and Restaurants For Sale
Online, LLC recommends you do your
own due diligence to verify the
source of any information provided
to you by a seller and/or
intermediary. If you are interested
in selling your business, Jacob
Zimmerman and Restaurants For Sale
Online, LLC recommends you contact
an intermediary that specializes in
transactions similar to the
respective business or real estate.
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