Begin your search for an established restaurant or bar for
sale or find the prime commercial real estate location you need to start your
own. United Country Real Estate offers the largest private inventory of
restaurants, dinners, bars, pubs and related real estate in mid-sized markets
and small towns.
Consulting
with a real estate professional who manages transactions like these on a
regular basis will help you streamline a successful purchase and will get you
up and running as fast as you want to be. Whether you’re seeking a fine-dining
establishment with unbelievable city views, a business strip in a
highly-trafficked area featuring several fast casual spots or even a tavern in
the heart of downtown, United Country’s extensive inventory will help you find
your ideal investment.
Types of Restaurants
Before
purchasing a restaurant or bar for sale, one first has to determine which type
of business they are looking for. Are you in search of a well-known café in the
center of town? Perhaps a fine-dining experience with views overlooking the
beach. Maybe you are looking to invest in a prime hot spot for live music and
expertly crafted drinks. Each commercial property requires different
approach, highlighting how working with a respected restaurant or bar real
estate professional is even more important than when you’re buying residential.
To discover which property is what you are looking for, learn what the
different types of restaurants or bars there are.
Fine Dining
The pinnacle of culinary excellence, fine dining restaurants
provide meticulous service, exquisite cuisine and an opulent ambiance. Guests
are treated to an unforgettable dining experience that often includes multiple
courses and expertly paired wines.
Fast Food
Known for its convenience, speed
and affordable pricing, fast food restaurants specialize in ready-to-eat meals
that are perfect for bustling lifestyles, meals on the go and late-night meals
after a night on the town.
Café or Coffee Shops
These establishments serve as a haven for coffee
aficionados, out-of-office workers and friendly meet ups, offering a range of
coffees, teas and light snacks. The relaxed atmosphere invites customers to
stick around while sipping their beverages.
Casual Dining
Bridging the gap between fast food’s convenience and fine
dining’s quality, casual dining establishments promise a relaxed environment
where varied menus cater to diverse tastes.
·
Fast Casual,
which elevates the quick-service model with better ingredients and more unique
flavors.
·
Contemporary Casual
is defined as dining trends towards a chic atmosphere and inventive menu
options, appealing to diners in search of a novel eating experience.
Types of Bars
Bar real estate, much like restaurant real estate, includes
a diverse
range of property types that cover a wide variety of lifestyles. These
spaces rely on fewer aspects than their restaurant counterparts, putting even
more emphasis on ambiance and requiring their adult beverages to not only be
delicious, but also correspond with the atmosphere.
Wine Bars
A sanctuary for wine lovers and sommelier, these hot spots
boast an impressive selection of wines by the glass or bottle, complemented by
knowledgeable staff and an opulent ambiance for tasting and socializing.
Dive Bars
Defined by its simplicity and authenticity, dive bars are
the ultimate hangout for locals where affordable drinks and straightforward
atmosphere invite easygoing social interactions.
Sports Bars
Catering to sports fans of all kinds, sports restaurants and
bars feature menus full of wings, burgers, other meat dishes and fried cuisine
alongside a selection of draft beers and TVs for viewing the current game.
Cocktail Bars
These bars have a curated collection of cocktails that are
served in an environment that emphasizes sophistication and flair. While many
other bars options focus more on the décor and character of the establishment,
the bartenders and their craft are central to their success.
Live Music Bars
The meeting place of tunes and toasts, live music bars
provide a stage for acts ranging from local bands to renowned artists, creating
a lively venue where clientele can enjoy their favorite drinks and musicians
simultaneously.
Tavern
With a focus on both food and drinks, taverns are
reminiscent of the traditional
public houses or “ordinaries” that serve as a community watering hole. With
an emphasis on beer and hearty meals, these institutions foster a sense of
camaraderie amongst patrons.
What to Know Before Purchasing A Restaurant or Bar
Before diving into the purchase of a restaurant or bar, it’s
essential to conduct thorough research and consider several key factors to
ensure a successful investment.
The first piece of advice anyone would give you is to
consult a broker or real estate agent that has specific restaurant expertise. You’ll
need someone
on your team that is knowledgeable about all things commercial properties, as
well as intricacies and regulations of owning a restaurant or bar.
Location
For any real estate venture, selecting and securing a prime
location for your property is the best way to start your journey. Ask yourself
which neighborhood or demographic best suits your business goals? What areas
provide the atmosphere and scenery that coincide with your property ideals?
Does the structure have good visibility, access and parking? Once you have
answered all these questions, you are able to commence your investment. Browse
the listings in your area that might match your particular qualifications.
Neighborhoods & Demographics
Understanding the demographics of the business’s area is
crucial to making a good investment. Research the local population’s average
age, income levels and lifestyle preferences. A restaurant or bar catering to
young professionals will often gather around different locations than families
or retirees. Analyzing these factors can help you choose a location that will
attract your desired customer base.
Customers
Identify your target audience before making your real estate
purchase, so you can tailor your business to their needs and preferences.
Consider conducting surveys or focus groups to gather pivotal insight into what
your potential customers value and desire in a dining or nightlife
experience.
Building a Customer Base
Once you have a clear understanding of your target audience,
think about strategies to attract and maintain your customer base. To achieve
this, try including special promotions, loyalty programs or regularly occurring
events that align with their interests. Building a strong customer base from
the start can lead to long-term success and profitability.
Competition
Assessing the nearby businesses and establishments will
allow you to get a better picture of the competition facing your restaurant or
bar. Identify who is direct competition: those whose services and
cuisine are similar to yours thus targeting the same market. Also, discover
your indirect competition: these are businesses that do not offer the
same products, but target the same market as you.
Inspection
A physical
inspection and an inspection by the Health Department are two steps you most
certainly won’t want to skip when purchasing a restaurant property. While
buying real estate without proper inspections is never a good idea, this
becomes even more true with businesses like restaurants and bars. With more
people coming in and out, unique kitchen equipment and food storage, many
different things can go wrong. Make sure that you understand how your food is
going to be prepared and served within your establishment, so Health Inspectors
and Building Inspectors can ensure your business will move smoothly.
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