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How long is the average time a restaurant is typically on the market beofre it can be sold

I have a business -restaurant that has been on the market for 45 days, signed w/ a broker and they've only shown it 1x . How long is the average amount of time on the market?

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Answers (2)
Julie A. Barnes, CPA
Small Business Exchange, Inc.
Travis County, TX

Hi Paul,

Lee is absolutely correct - it all depends on a variety of factors. I will tell you, however, that I discourage my registered buyers from getting into the food service industry unless they've worked in the industry before. It's a tough nut to crack - even for "paint by the numbers" franchises - I really don't consider it just a business but a lifestyle - buyers should be ready to dedicate almost every waking hour to a restaurant. If it's their cup of tea (if you'll excuse the pun) - it can be a grand adventure. If not, it can be an albatross. Just my two cents.

Thanks!
Julie A. Barnes, CPA
President, SBX, Inc.
http://www.SmallBusinessExchange.net
http://www.AustinBusinessesForSaleBlog.com

Nov 2, 2009
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UBI Business Brokers
CA
Premium Broker

it depends on various factors: a bargain always sells fast, this is for any business or item.
apart from that the main points: is it a desirable location? is the business in desirable condition, price, proifitability, equipment? is there financing available? will the seller carry any paper? how much advertisement in being done on the business? is it being promoted? is it fairly priced? how does it compare with other similar businesses?

Nov 2, 2009