There are more than a million restaurants in the United States that employ 14.7 million people – representing about 10% of the nation’s overall workforce. The industry also expects its employee ranks to swell by another 1.6 million by the year 2027.
In addition, the restaurant industry now owns 48% of Americans’ food dollar, as compared to 25% in 1955. Why? Because Americans are eating out or taking out more than ever before. According to the National Restaurant Association, industry sales are expected to reach $799 billion in 2020; this represents a 4.3% gain over 2019.
All of these statistics clearly predict more growth in the sector and many are interested in entering the industry which is good news for restaurant sellers. Restaurant buyers will be looking for different points of entry, from meal kit businesses and fast casual franchises to high-end specialty dining experiences.
Nation’s Restaurant News, the leading resource for business intelligence in the foodservice industry, released a report in May 2018 stating that consumers are showing a preference for independent restaurants over chain restaurants.
- authentic ethnic meal experiences
- locally sourced ingredients
- artisan cheeses and desserts
- gourmet kids’ meals
- sustainable seafood
- chef-driven concepts.
Your Restaurant Broker Team
If you are considering the purchase or sale of a restaurant business, Transworld is committed to ensuring the best deal for all parties involved. Transworld’s business advisors will meet with each prospective restaurant business buyer to determine your abilities and interests, educate you about the search and buying process, and connect you with restaurant business sellers that match your criteria.
If interested in selling your restaurant business, Michael Shea will offer you full marketing support, including expert valuation and strict confidentiality, as they introduce you to suitable prospective buyers. Transworld will be involved at all stages until the restaurant business changes hands and even beyond.
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