SellingRestaurants.com sells 21 restaurants Q1 2018.
Milford (Mel) Jones
CEO & President, Carrara Pastries, Inc. Arte Dolce, Inc., Biagi, Inc. & CP Pasadena, Inc.
"It feels a bit like 2007 again" says Mel Jones, CEO of SellingRestaurants.com, "with investor's optimism translating into more business buying. Multiples paid for businesses are increasing, leading to higher sales prices, as buyers expect greater sales and profits in the future as a result of the tax cuts, strong consumer confidence and the most expansive economy seen in 10 years. We're expecting this trend to continue through 2018."
SellingRestaurants had 9 listings expire with sold 21; that's a 70% success rate, far exceeding the industry standard. SellingRestaurants attributes this to providing the most professional restaurant brokerage in the business focusing on single unit owners.
"The upfront effort SellingRestaurants does preparing businesses for market pays-off" explains Mel. "We take our time to do it right. We're not looking to throw a business on the market just to get it out there. We make sure we know all we can about the business from the financial analysis to the pros and cons of the business, we know the product we're selling and we sell it!"
The value of these transactions were $5.3 million for an average sales price of $252,000.