We do not list businesses for sale. This page is for buyers: what restaurants actually sell for, what to check, how deals are financed, and where listings appear. Register below to hear when we publish new data for buyers.
The market at a glance
What restaurants sell for
| Deal size / buyer | Price or multiple | Source |
|---|---|---|
| Main Street restaurant sales, 2021-2025 (sold) | 1.34-2.53x SDE (average 2.15x); 0.39x revenue; median price $220,000 | |
| Multi-unit franchise portfolios (context) | Priced individually; the largest recent example, RBI buying Carrols (1,023 Burger Kings), was an all-cash deal at about $1.0B enterprise value | RBI - Burger King Company completes acquisition of Carrols Restaurant Group (May 16, 2024) |
What to check before you make an offer
- Key metric: Trailing-12-month sales and SDE, prime cost (food + labor) as a share of sales, rent as a share of sales, lease term remaining, liquor license type
- Upside sign: A long, assignable lease at a rent the business can carry (buyers and SBA lenders check the term covers the loan)
- Upside sign: Stable or growing sales documented in POS reports that match tax returns
- Red flag: A lease with little term left, a demolition clause or a landlord unwilling to assign
- Red flag: Cash sales that are not on the tax returns (buyers and lenders will not pay for them)
- Red flag: The owner as head chef or key personality with no trained replacement
Transfer issues that can stop a closing
| Issue | What to know | Source |
|---|---|---|
| Liquor license transfer (California example) | California requires an escrow with a neutral holder before filing a liquor license transfer application where there is a purchase price; the buyer deposits the full price, and the escrow pays the seller's bona fide creditors who file claims before ABC approves the transfer (B&P Code 24074). | |
| Lease assignment | Most restaurant leases require landlord consent to assign, and landlords often ask for the buyer's financials and a personal guarantee. Start this early; it is the most common deal-killer. | General practice point |
| Health permit and inspections | Food service permits are generally issued to an operator, so the buyer typically applies for its own permit and may face a pre-opening inspection. Check your county health department's change-of-ownership rules. | General practice point |
How buyers finance these deals
Most Main Street acquisitions are financed with an SBA 7(a) loan plus buyer equity, often with a seller note. Under SBA SOP 50 10 8 the buyer generally needs a 10% equity injection, a seller note can count toward it only if it is on full standby, and earn-outs are not allowed in SBA-financed changes of ownership. Model the note with the seller financing calculator.
Who you are competing with
For larger restaurants, you will often bid against organized acquirers - we document 2 of them, from primary sources, on who is buying restaurant businesses. Individual buyers usually win smaller deals where a platform would pay an add-on multiple.
Where restaurant listings appear
Buying restaurant businesses? Register your interest
Get notified when we publish new data on off-market restaurant businesses and acquirers. We do not list businesses for sale, and we cannot promise that any will become available to you.
Own a restaurant and thinking of selling?
See a sourced value range for your business in 60 seconds - no email needed.
Frequently asked questions
How much does a restaurant cost to buy?
BizBuySell’s median sale price for restaurants sold 2021-2025 was $220,000. Price depends mostly on documented earnings (SDE).
Can I use an SBA loan?
Usually yes for Main Street deals. Under SBA SOP 50 10 8, expect a 10% equity injection; a seller note can count toward it only on full standby, and earn-outs are not permitted in SBA change-of-ownership loans.
Do you have listings?
No. We do not list businesses or broker deals. Listings appear on marketplaces such as BizBuySell and through brokers; see our broker reviews.
Sources
- BizBuySell Valuation Benchmarks - Restaurants (accessed 2026-09-23)
- BizBuySell - Business valuation multiples by industry (sold Q3 2021-Q2 2026) (accessed 2026-09-23)
- RBI - Burger King Company completes acquisition of Carrols Restaurant Group (May 16, 2024) (accessed 2026-09-23)
- California B&P Code 24074 - Transfer of licenses, escrow (accessed 2026-09-23)
- SBA SOP 50 10 8 key changes (Whiteford client alert) (accessed 2026-09-23)
- LRM Lender Consultants - SBA change of ownership under SOP 50 10 8.1 (accessed 2026-09-23)