A recent survey revealed the following percentage breakdown of last year’s business sales by business types. The information was furnished by business brokerage firms nationally and compiled by Business Brokerage Press.
|Food & Drink related business||14%|
|Auto related businesses||9%|
|Distribution type businesses||11%|
|Service type businesses||25%|
Service type businesses include dry cleaners, quick print, video stores, etc. Other businesses include coin laundries, delivery, product, and vending routes, and any that don’t fit into the other categories listed.
What does this mean to you as a business owner? It indicates that service type businesses seem to be creating the most activity from business buyers, followed by retail and the food and drink sector. The service sector has also been the leader in businesses sold by business brokers for the previous two years. This coincides with the growth nationally in the service sector coupled with the broad range of businesses included in it.
The food and drink sector, which includes restaurants, fast-food, taverns and the like, has always been a popular one for buyers. One reason is that most people frequent these types of businesses on a regular basis and therefore are familiar with them. Plus, there has always been a certain “celebrity” status connected with this sector.
However, statistics aside, today’s buyer has more knowledge, experience and education than ever before and is willing to consider almost any type of profitable business.