Are you interested in a Tennessee restaurant for sale? Considering buying your own bar in Nashville to launch the next country music star? Do you need information on how to buy a restaurant in Tennessee with little money down? How about financing a restaurant for sale in Tennessee? Our Tennessee Certified Restaurant Brokers© have answers to these questions and more.
Why Buy a Restaurant in Tennessee?
Nashville, the capital of Tennessee, is nicknamed "Music City." It is located in the north-central part of the state and easily accessible from most large southern cities. Nashville is a center for the health care, publishing, banking, and transportation industries, and is home to a large number of colleges and universities. The area’s colleges and universities include the Tennessee State University, Vanderbilt University, and more.
Tennessee is also home to eight Fortune 500 headquarters, including major employers such as FedEx. The transportation giant has helped the state become a major transportation and logistics center. Nissan and Volkswagen plants make auto manufacturing one of Tennessee's top industries, along with health care and energy technology. From Beale Street in Memphis to the Grand Ole Opry, Tennessee is a cradle of American music.
According to the National Restaurant Association, Tennessee restaurants are projected to ring up $11.74 Billion in sales in 2016 in more than 10,250 units. Restaurant employees make 11 percent of the overall employment in Tennessee with 294,800 people employed in the industry. (Source: National Restaurant Association. Includes all restaurant and food service occupations.)
It's easy to see what Nashville is a great place to buy a restaurant. From tourism to strong corporate players, Nashville provides a steady stream of customers for those in the restaurant industry.
Here is a list of resources you may need to buy a Tennessee restaurant for sale. Call our Tennessee Certified Restaurant Broker© for more ideas and assistance.
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.