Being in the business brokerage business for well over 10 years, we get requests for all kinds of businesses for sale and potential business opportunities. Popular inquiries that we receive are for businesses that are for sale on or around International Drive in South Orlando.
For those of you not familiar with the Orlando area, International Drive is one of the main tourist related arteries in the Orlando. The area is close to both Walt Disney World, Sea World, and Universal Studios as well as other popular tourist attractions in the area.
I-Drive, as many of those in Orlando refer to it, is full small attractions along with flea markets and malls. International Drive is also home to the Orange County Convention Center and is home to a huge variety of hotels, restaurants, and retail shops.
Businesses including restaurants, hotels and retail shops go up for sale in I-Drive and there are a lot of buyers seeking out these opportunities. There is a good reason for this. The Orlando area hosts over 50 Million travelers a year. A large majority of these travelers will make it down to the tourist area at one point during their stay, even if their reason for traveling to Orlando is unrelated to tourism. As a large tourism artery, a business for sale on International Drive in Orlando has a nice ring to it. Business buyers know there will be plenty of foot traffic and that they will be in good company with other businesses that do well.
Here are some of the top 5 tips for buying a business on International Drive in Orlando, Florida.
1. Orlando Is Always Flush With Tourists
The busy seasons for the I-drive area are different than the rest of Orlando’s busy season. For most of the Orlando area especially when it comes to restaurants and retail stores, the busier season starts at around the end of September after school has been in session for a few weeks and goes on until early May. On the flip side, I-Drive’s busiest season is from mid June to end of August.
2. People Are Always Going to Eat
With thousands of people visiting I-Drive on a regular basis, they are always looking for some where to eat. We get requests specifically for restaurants and eateries that are for sale only on I-Drive. Our general advise is to simply choose a restaurant that you are comfortable with running and it may or may not be on I-Drive.
3. Rent Can Be Higher Than Other Areas of Orlando
When it comes to businesses on International Drive, rent or leasing may cost you more. It is important that your business broker work with you to make sure you are not overpaying for your rent. Let us do the hard work when it comes to making sure you have the best possible deal. Remember that we have helped buy and sell hundreds of business.
4. I-Drive Is Diverse
Orlando tourists on International Drive are made up of many different market segments. For example, potential target markets for your business on I-Drive include British tourists, Brazilian tourists, European tourists, American families, College-Aged consumers and don’t forget travelers in town for conventions and there are millions of them. Focus on a segment that you think will lead to a high return on investment when you are buying a business.
5. Building Partnerships
If you’re looking to buy a business on International Drive, you should know that some of the most successful business owners still make deals with travel companies, tour groups, concierges, hotels, and local attractions to bring more customers to their businesses. Relationships can be highly lucrative but difficult to obtain. Make sure your business plan allows your business to be successful on it’s merits even without these relationships because those relationships can easily come and go.
The business brokers at Crowne Atlantic can help you every step of the way on your business search. We want to remind you that thousands of local businesses are successful in the Greater Orlando area, so if you are unable to find businesses for sale on I-Drive that you like, definitely don’t shy away from the many others extremely successful areas in Orlando.
Call us at 407-478-4101 and we will help you find the right business for sale.