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gibbon

Increase in businesses up for sale?

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I regularly check out the business for sale listings in my local area. I'm seeing a large spike in new listings for vanity businesses: coffee shops, restaurants and take away's. While admittedly there's been a glut of these establishments opening in the last couple of years, something does seem to be changing as a lot of the ones up for sale are also the more recent trendy type and guessing from the turnover/profit stats they are also in trouble if the cooked figures are the best they can come up with.

My theory is we've entered into a mad max thunder-dome scenario where more and more people are fighting over a ever shrinking pie. I guess there's only so many lattes, cocktails and cupcakes a person can drink/eat. I recall that the food industry has been one of the few industries which grew since 2008. If that's now on its way out then could be a sign of things to come across the board?

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42 minutes ago, gibbon said:

I regularly check out the business for sale listings in my local area. I'm seeing a large spike in new listings for vanity businesses: coffee shops, restaurants and take away's. While admittedly there's been a glut of these establishments opening in the last couple of years, something does seem to be changing as a lot of the ones up for sale are also the more recent trendy type and guessing from the turnover/profit stats they are also in trouble if the cooked figures are the best they can come up with.

My theory is we've entered into a mad max thunder-dome scenario where more and more people are fighting over a ever shrinking pie. I guess there's only so many lattes, cocktails and cupcakes a person can drink/eat. I recall that the food industry has been one of the few industries which grew since 2008. If that's now on its way out then could be a sign of things to come across the board?

Stockport mersey way shopping centre (which is grim as fuck it must be said) has quite a few empty units, probably +50% on this time last year. Used to be a trendy expensive clothes place and some tacks shops. Not very representative as it's a very poor region.

Wilmslow centre has a few empty shop units, something I'd never have thought I'd see - it's a bit of an old money/boomers territory so usually weathers the storm, suppose there's only so many high end overpriced clothes shops that can be supported.

Didsbury seems to have a plethora of poncy tapas/trendy eating places. There was an empty unit that was a Cafe Rouge for ages (didn't do too much business), now it's opened up as some poncey spanish tapas venue (another one eh!). 

Not sure about Manchester city centre as tend to avoid it like the plague. Hateful place.

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IMO part of the problem is that 'being an entrepreneur and starting a business and then selling it to someone less entrepreneurial than you' is one of the new lifestyle jobs.  In the olden days you'd start up a cafe (or whatever) because of some passion/dream, and then that would be your thing for the next 30 years.  Now it is the starting of the business is the new dream.

I had a conversation with a girl (20s) a little while ago.  'What is it that you want to do', I say.  'Be an entrepreneur' was the response.  'Great. What is it that you want to do as an entrepreneur?'.  Blank response -- she didn't understand the question -- she just wanted to be an 'entrepreneur', as though it was a type of job.

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