Twin Cities Business: Selling a Rural Restaurant is a Feat of Endurance

EXCERPT: “Successful businesses are eminently salable at a multiple of revenue or profits; restaurants are a notable exception. Most go up for sale when an owner or founding chef departs. Unproven new ownership may lack the ability to maintain the customer experience, which is closely tied to a chef/owner’s vision, and new owners are often merely buying a lease and some kitchen equipment rather than customer goodwill. That’s the dilemma buyers and investors ponder in such situations. Rural restaurants are an even tougher sell, even when you’re a local institution with decades under your belt. Two very different such institutions are currently for sale.” FULL STORY: