With over 5.5 billion pizzas sold last year, buying a pizza business for sale might just be the opportunity you have been looking for. Ibisworld indicated that industry revenue increased 3.4% in 2016. This cheesy, warm goodness is the preferred food among kids ages 3 to 11. But the enjoyment doesn’t stop with the little ones. Pizza is a crowd-pleaser for all. The Pizza Business industry primarily serves the 25-44 age group. That's important since this demographic spend more than average on food away from home according to the Bureau of Labor Statistics (BLS). Consumers in the 45-65 age group make up the second-largest industry market.
As a matter of fact, 350 slices of pizza are consumed every second. So by the time you finish reading this article or scan one of our many pizza businesses for sale listings, approximately 84,000 slices will have been consumed. How many of those slices will you be serving up for hungry guests in the future if you buy a pizza business for sale? For pizza, the possibilities are endless. Pizza restaurants have certainly evolved since the first official pizzeria opened in the US in 1905 and while some choose to serve up the traditional flat circular style that we are all familiar with, some explore one or more of the unique variations of this warm, comforting deliciousness that has been named one of America’s best-loved food.
We Sell Restaurants for a living and even we are surprised by the variations on this classic favorite. It’s amazing just how customizable pizza can be for consumers! Enjoyed plain or with meat or veggie toppings-there is something for everyone. That may be why the restaurant brokers always have such a variety of different locations and listings in our inventory of pizza businesses for sale. Versatile dining options like carryout, delivery, and some full-service dining, make the flexibility of a pizza business for sale attractive to both restaurant owners and customers alike. The food cost involved in pizza making is generally five to ten percent lower than just about any other menu item making owing a pizza business for sale that much more affordable. Speaking of affordability; two driving factors that contribute to pizza being a top dining choice of consumers is value and convenience. No fork or knife required!
Whether it’s for a special occasion and ordering a dozen pies, surprising the family by picking up a pie or two after work or grabbing a slice at the local pizzeria during lunch break is an American tradition. It’s no wonder that 1 in 8 of us eat pizza on any given day. The restaurant brokers at We Sell Restaurants are ready to declare pizza at its own food group! “Kneadless” to say, there is lots of “dough” to be made when you invest in a pizza business for sale not to mention the fun of owning your own business.
Technology has affected the pizza restaurant for sale business in a big way over the past five years. Large pizza chains have invested in sophisticated web-based ordering systems. Large chains like Papa John's and Pizza Hut have reported that 40% of their sales originate from web-based ordering platforms. This has helped the large chains increase market share and profit.
Independent pizza business for sale locations bridges the digital ordering divide by using online food ordering services such as Grubhub, Seamless, and EatStreet which take a cut of online sales.
Who owns the pizza business for sale industry? According to PMQ Pizza Magazine’s 2016 State Of The Industry report, independents owned 55.3% of pizzerias in 2016 and controlled 44.3% of the industry’s sales. Overall, the number of industry establishments has increased at an average annual rate of 2.3% to 91,760 locations over the five-year period, while the number of operators has increased at a slower pace.
Buying a restaurant can be a journey filled with risk and reward. Frequently however, misinformation abounds as would-be owners seek out resources and begin viewing restaurant for sale opportunities.
If you are buying a restaurant with SBA lending, make sure you are ready to go with this checklist of items the bank will need. Some will come from you and others will be submitted by the seller.