If you are thinking of starting a restaurant business, then the first thing you should do is look for a restaurant that you can buy or take the lease. Here are some ways you can search.
Like homes, there is no Multiple Listing Service (MLS) available for a restaurant or commercial real estate properties. But you can get some free and paid services that will advertise the available properties. Some such sites include Loopnet.com, RestaurantforSaleorRent.com, Craigslist.org, etc.
Business opportunity websites
There are various websites that advertise businesses for sale. In order to keep the sale confidential, the information you will get here is limited. You will need to register for the site and sign a non-disclosure agreement before you can get any information.
Driving and looking for ‘sale’ and ‘lease’ signs for restaurants
You can drive the neighborhoods that best fits your concept. This way you can learn about the market and things like traffic patterns, type of visitors, etc. This can be a time-consuming way of finding property for your restaurant.
Targeting specific properties
You can select a specific property and buy the existing business from the tenant. You can also negotiate a future lease if the present lease expires with the landlord. You need a lot of patience in this case and the process can be time-consuming.
Commercial real estate brokers
There are many commercial real estate brokers that specialize in restaurant properties. Brokers can give you access to properties that normal public can’t see and can also help you negotiate deals.
If you are thinking of opening a new restaurant then use one of these methods to find out a property to start your business. The process can be complex and time-consuming, but you need to be patient and stay positive all the time.