Selling A Restaurant in Newcastle
Selling Your Restaurant in Newcastle Is Easy With Coast To Coast Magazine!
Restaurants can be hard work, but they can also be rewarding! A lot of times it is hard to fathom selling your restaurant in Newcastle while you are immersed in the business and working hard to actually run it. Once you have actually made the decision to sell, it can be quite easy.
Contact Coast to Coast Magazine today to find out how we can help, and how easy it can be to sell your restaurant.
A couple of tips to consider to help in the preparation of sale of your Newcastle restaurant are:
How long has your Newcastle restaurant been operating?
Is the premises in a presentable state of repair?
Do you have financial records to match your asking price?
Does your Newcastle Restaurant enjoy repeat business or mostly tourists? Is there a database of these clients?
Do you have reliable staff?
If we can assist you with your decision, please either fill out the below form with as many details as possible, or give us a call on 1300 793 792
HOW TO SELL YOUR RESTAURANT IN NEWCASTLE
Anybody seeking to break into the hospitality business, by purchasing a restaurant in an expanding, tourist-rich location, would do well to consider Newcastle NSW.
Located 162km from Sydney, at the mouth of the Hunter River, Newcastle is a thriving city, which established itself based on coal, copper, steel and soap. Indeed, it is still the largest coal exporting harbour in the world. And despite going through economic downturns in the 1970s, the early 1990s, and then in 1999, when the steelworks closed, Newcastle has recovered better than almost any other city in Australia.
Boasting a lovely climate; excellent education, health and transport facilities; superb beaches and other natural attractions; top sports facilities, and a vibrant cultural scene, it's no wonder Newcastle is becoming an increasingly popular place to call home.
Indeed, Newcastle City Council, and the Newcastle Tourism Industry Group, have formulated a CBD Masterplan to take the city through to 2030, boosting the city's already high visitor numbers and tourism revenue, and making it the event capital of regional Australia.
Who wouldn't want a slice of that cake, by buying or leasing an established restaurant in this city on the beach?
Leaving aside for one moment your restaurant's address, fit-out and financials, the fact that it offers an opportunity to live and work in such a sought-after location is a major selling point in itself. The city is predicted to have the second largest population growth, and fourth largest overall population in NSW metropolitan areas by 2031.
It is also experiencing massive growth in knowledge industries, with the expansion of health, higher education, research centres, defence industries and professional and technical services; improved transport links - including an $80 million airport expansion; smart city connectivity, and a commitment to growth by the government.
All of this is proven, researched data that can be used to market your restaurant in this growing market. It is information that will help your business appeal to a wide range of buyers, from couples and families, to savvy investors.
With a planned push to increase visitor numbers - including an extra 583,300 tourists, 273,800 business visitors, and 750,650 visiting friends and relatives by 2030 - there will be plenty of bums on seats to keep every restaurant owner in Newcastle happy, plus huge potential for expansion.
This means you can successfully market your restaurant to those who simply wish to step in and leave it ticking along 'as is', as well as the more motivated buyer, who is cashed up and ready to expand.
A huge part of the focus of the Masterplan is the hospitality industry, with plenty of money budgeted for better signposting, lighting, pavements and transport improvements, including water transport. Wherever your restaurant is located in Newcastle, you are set to benefit from these improvements.
If you have made up your mind to sell your restaurant in Newcastle, you have chosen the perfect time to do so. You should not only benefit from a wider selection of prospective buyers, but you stand a far better chance of getting the price you want now.
Do you need to pay a business broker commission to market and sell your restaurant? Personally, I would no, as it should virtually sell itself! So why hand over a large chunk of the proceeds to a broker!
My advice would be to choose an independent, Australian-owned organisation to help you sell, perhaps Coast to Coast Media. Not affiliated with any real estate agent or broker, this family-run operation works with sellers to market their business, online and in print, and offers professional services, such as graphic design and writing, as well as an excellent buyer-match service. But they NEVER take commission.