Restaurants for Sale

Many restaurants for sale are priced closer to the value of the space and equipment than to earnings, because margins are thin and a new owner often changes the concept. Profitable, established restaurants with clean books are the ones that sell on a multiple of earnings.

The lease is often the most valuable thing being sold: location, remaining term, rent as a share of sales, and whether the landlord will assign it.

Franchise resales are priced differently from independents. The franchisor’s transfer fee, approval process and any required remodel all affect what a buyer can pay.

Point-of-sale reports and sales tax filings alongside the profit and loss statement. In a cash-heavy business they are the most reliable check on reported sales.

Food, labor and occupancy costs as a share of sales, compared month by month.

The liquor license, if any, and how it transfers in that state; health inspection history; and the age of major kitchen equipment.

DealLedger reads the public listings pages of business brokers directly and records when each listing first appears and when it comes down. Days on market count from the first day we saw the listing; “by” means the listing was already up when we started reading that broker’s site, so it has been listed at least that long. Price ÷ cash flow is the asking price divided by the seller’s stated cash flow (SDE), where both are published. All data is public domain (CC0). Full methodology.