11 Sep Eat, Drink & Be Merry — Spring is here
The following is from Clyth MacLeod. While it may appear to be dated, it is just because Clyth is writing from “down under” where spring runs from September to November.
Hello Spring…we are so glad you are here.
Daffodils are blooming, lambs are romping, and business sales are great. Sales are up, buyers are keener, and more owners are listing. And we have some new energetic and enthusiastic salespeople that have joined our experienced professional team. We have never wanted to be the biggest business brokerage in NZ…but we are committed to being the best through providing personal, professional and guaranteed service.
Eat, drink and be merry!
We love this industry (selling businesses) and one of our favourite sectors is the hospitality industry (cafes, restaurants, and fast food). Currently, we have 15 salespeople focussed on marketing and appraising these businesses.
They are simple businesses (but not easy) and generally cash-and-carry, with no huge investment in stock or book debts. They are fun businesses and we enjoy research-and-development (eating out). We are active members of the Restaurant Association, sponsor events for them, and assist with training and webinars.
Hospitality is a vibrant and growing sector. Total sales are approaching $8 billion per annum with cafes and restaurants accounting for 50% of that total. It employs over 100,000 people and is an increasingly popular career choice, and very transportable. There are almost 15,000 cafes, restaurants, takeaways, and pubs / taverns throughout NZ. Kiwis share our enjoyment in eating out.
It is an exciting industry with new outlets opening regularly, popular “foodie” shows on TV, and celebrity chefs featured in the media.
The recently released report on New Zealand hospitality industry is very positive about future growth. For first-time business buyers, entrepreneurs, and experienced business owners these businesses offer independence, lifestyle, capital growth, challenge, and profits opportunities.
People always have to eat!