Businesses For Sale In Savannah GA: The Ultimate Guide

Businesses for Sale in Savannah GA: Ultimate 2024 Guide

Thinking about owning a business in a place rich with history and brimming with potential? Savannah, GA might be exactly what you’re looking for. This southern gem offers a vibrant market for acquiring diverse business ventures. From bustling restaurants and quaint coffee shops to service-based enterprises and high cash-flow businesses, the opportunities are robust. With Savannah’s growing population and increasing tourism, businesses here stand to gain immensely from steady streams of customers. Stay tuned to discover why buying a business in Savannah could be your next strategic move.

Overview of the Savannah Business Landscape

Savannah, Georgia, is not just a place of rich history and beautiful architecture; it’s also a thriving business hub. The city’s strategic location, diverse economy, and supportive community make it an attractive destination for entrepreneurs. Let’s dive into the main factors that contribute to this vibrant business environment.

Economic Environment

Savannah boasts a robust economy driven by several key sectors. The economy is supported by:

• Manufacturing: Savannah’s manufacturing industry is a significant contributor to the region’s economy. Companies like Gulfstream Aerospace are major players.
• Port and Transportation: The Port of Savannah is one of the largest and fastest-growing in the U.S. It plays a crucial role in the global supply chain, offering numerous business opportunities.
• Tourism: With its historic charm and cultural attractions, tourism is a powerhouse industry. Millions of visitors flock to Savannah every year.
• Military: The presence of military installations contributes significantly to the local economy. Hunter Army Airfield and Fort Stewart are pivotal.
• Healthcare: The healthcare sector is also thriving, providing numerous employment opportunities and services.

For more on Savannah’s economic development, check out the Savannah Chamber of Commerce’s economic development page.

Key Industries

Savannah hosts a variety of industries that underpin its economic strength. These include:

• Real Estate: A growing market with numerous residential, commercial, and industrial developments.
• Technology: An emerging technology sector is bringing innovation and new job opportunities to the area.
• Education: Home to several universities and colleges, the education sector is a pillar of the local economy.
• Manufacturing and Logistics: Savannah is the 3rd largest and fastest-growing container port in the USA. This has spurred both manufacturing and logistics growth in the low-country area. 
• Retail: With an array of shopping centers and local businesses, retail is a vibrant sector.

According to City-Data, Savannah’s diversified economy ensures stability and growth for businesses of all sizes.

Demographic Factors

Savannah’s population is another factor that makes it ideal for business. Here are some key demographic insights:

• Population Growth: The city’s population has been steadily increasing, providing a larger customer base and workforce for businesses.
• Diverse Workforce: A mix of young professionals, skilled labor, and experienced managers.
• Educational Institutions: Schools such as Savannah College of Art and Design (SCAD) produce a constant influx of talent.

For a deeper dive into the economic trends and demographic data, check out this economic trends brochure by Georgia Southern University.

Savannah offers a fertile ground for businesses to flourish, given its favorable economic conditions and diverse industries. The city’s ongoing growth and development promise even greater opportunities for entrepreneurs and investors.

Photo by Anna Tarazevich 

Types of Businesses for Sale in Savannah

Savannah, GA is a vibrant city with a diverse economy and a wide range of business opportunities. Whether you’re looking to invest in a restaurant, open a retail store, start a service-based business, or explore the manufacturing and technology sectors, there are plenty of options to choose from. Below, we’ll explore some of the most popular types of businesses for sale in Savannah.

Restaurants and Food Services

Savannah is known for its rich culinary tradition, and there are many restaurants for sale in the area. From cozy cafés to bustling BBQ joints, potential buyers can find a variety of options:

• BBQ Restaurants: One of the more profitable types, with earnings over $162,797 annually. View more BBQ Restaurants for sale.
• American Cuisine: Various American diners and bistros are available, such as those listed on BizBuySell, with prices ranging from $150,000 to $3 million.
• Specialty Bakeries: Unique bakery businesses catering to niche markets.

Photo by Alexandra Maria

Retail Opportunities

Retail businesses in Savannah benefit from the city’s tourism and historic charm. Busy shopping districts and tourist hotspots make it an ideal location:

• Downtown Boutiques: Many small boutiques thrive thanks to the constant tourist flow. Discover more on B3 Brokers.
• Specialty Shops: Stores focusing on local crafts, souvenirs, and unique goods are in high demand.
• Franchises: Opportunities like renowned ice cream and clothing franchises.

Service-Based Businesses

If you’re interested in providing essential services, Savannah has several thriving sectors:

• Cleaning Services: Reliable and necessary, with established client bases.
• Landscaping: Popular due to Savannah’s lush environment.
• Personal Care: Includes hair salons, spas, and massage parlors. Explore these on B3 Brokers.

Manufacturing, Technology, and Logistics Opportunities

Savannah’s strategic location and transportation infrastructure make it a hub for manufacturing, technology, and logistics:

• Logistics Companies: Benefitting from proximity to the port and major highways.
• Technology Startups: Growing interest in tech innovation and support.
• Manufacturing Plants: From small artisan workshops to larger production facilities. Check out more on the Georgia Association of Business Brokers.

Savannah offers numerous opportunities for potential business owners. With its diverse economy and supportive environment, investing in a business here can be a profitable venture.

Factors to Consider When Buying a Business

When thinking about buying a business in Savannah, GA, there are several critical factors you need to keep in mind. This guide covers three key areas: financial performance, location and market demand, and legal and regulatory requirements. Each of these factors plays a vital role in ensuring the success of your new venture.

Assessing Financial Performance

Understanding the financial health of a business is crucial before making a purchase. Here’s a guide on what to look for:

• Financial Statements: Review the business’s income statement, balance sheet, and cash flow statement. These documents will give you an idea of the business’s profitability and financial stability.
• Sales Data: Looking at historical sales data can help you identify trends and forecast future performance. Are sales increasing, decreasing, or stable?
• Profit Margins: Determine the profit margins by comparing the revenue to the cost of goods sold. High profit margins could indicate a well-run business, while low margins might signal potential issues.

Analyzing these financial aspects can help you understand whether the business is a wise investment. For more detailed tips, check out this comprehensive guide on buying a business.

Evaluating Location and Market Demand

The success of a business heavily depends on its location and the demand for its products or services in that area. 

• Location: Consider the foot traffic, visibility, and accessibility of the business location. A prime location can drive more customers and increase sales.
• Market Trends: Research local market trends to understand the demand for the business’s offerings. Are there competitors nearby? Is there a growing demand for what the business sells?
• Community Engagement: Being part of a supportive community can boost a business’s success. Check if the business is involved in local events or has a strong local customer base.

Evaluating these factors will help you gauge the potential success of the business in its current location. For more insights, check out this local business directory of Savannah’s businesses.

Understanding Legal and Regulatory Requirements

Every business needs to comply with local laws and regulations. Here’s a brief overview of the necessary permits and licenses you might need to operate a business in Savannah:

• Business Licenses: Most businesses need a general business license issued by the city.
• Permits: Depending on the type of business, you may need additional permits, like health permits for restaurants or special use permits for certain locations.
• Zoning Laws: Ensure the business location complies with local zoning laws. This is crucial if you plan to make any changes to the property.

Navigating these legal requirements can be complex, so it might be helpful to consult with a local business attorney. For a detailed guide, you can visit the Savannah’s official business guide.

By carefully considering these factors, prospective buyers can make informed decisions and increase their chances of a successful business venture in Savannah.

Resources for Finding Businesses for Sale

Looking to buy a business in Savannah, GA? There are plenty of resources available to help you navigate the process and find the perfect opportunity. From dedicated business marketplaces to local listings, here are the top tools and websites you can use. 

 Best Business Brokers (B3)

Georgia Association of Business Brokers (GABB)

BizBuySell

BizBuySell is one of the largest business-for-sale marketplaces on the internet. With over 50,000 listings, it’s a great starting point for anyone serious about buying a business. You can find businesses in various industries and price ranges, making it easier to locate something that fits your needs.

Check out B3 Brokers Savannah listings for the latest opportunities.

CREXI

Another excellent resource is CREXI, primarily known for its commercial real estate listings. It also has a vast selection of businesses for sale. CREXI provides detailed information, including financials and photographs, to help you make an informed decision.

Visit CREXI to explore their Savannah listings.

Newspapers and Local Listings

Don’t overlook traditional sources like local newspapers and community bulletin boards. Sometimes the best deals are found right under your nose in local listings that don’t always make it to the big websites.

Key Points to Remember:

• Do Your Homework: Always research the business thoroughly before making any commitments.
• Consult Experts: Engage with business brokers and advisors who can provide valuable insights.
• Stay Updated: Regularly check these resources as listings can change rapidly.

Using these resources will significantly increase your chances of finding the right business opportunity in Savannah, GA. Happy hunting!

Success Stories: Businesses Thriving in Savannah

Savannah, GA, is not just a beautiful place to live; it’s also a vibrant city for business growth. Many local companies have seen immense success after being bought or starting new. Here are a few highlights of businesses that are thriving in Savannah.

Leopold’s Ice Cream 

Leopold’s Ice Cream is a legendary name in Savannah. Founded in 1919, it was revived by its original owners’ descendant, Stratton Leopold, who returned to his roots after a Hollywood career. Under his leadership, the business has not only maintained its charm but gained a massive following. By focusing on quality and tradition, Leopold’s has thrived, becoming a must-visit spot for anyone coming to Savannah.

Savannah Bee Company

Another shining example is the Savannah Bee Company. Starting from humble beginnings, it has grown into a major retailer of honey and bee-related products. Their products range from honey-based beauty products to artisanal honey. The company’s success can be attributed to its commitment to quality and environmental sustainability, which resonates with a wide customer base. Check out their amazing story.

Spa Bleu

Spa Bleu in downtown Savannah has also seen phenomenal growth. Originally a small establishment, new ownership transformed it into a premier luxury spa. They expanded services, updated facilities, and radically improved customer experiences. This transformation brought in a larger clientele, leading to higher profits and recognition as one of Savannah’s top spas.

Hunter Maclean Attorneys

From offices in Savannah and St. Simons Island, HunterMaclean represents a wide variety of companies and individuals in the Southeast and throughout the United States in their legal and business matters in Georgia. HunterMaclean is a law firm that is committed to its clients and connected to the communities in which its clients do business. Discover more about their journey here.

Circa 1875

Lastly, there’s Circa 1875, a beloved French bistro. Bought by new owners who invested in preserving its historical ambiance while improving the menu, it has become a go-to dining destination. Their story is a testament to how passion for preservation mixed with innovation can drive a business forward. Learn more about Circa 1875.

Savannah’s business landscape is rich with such inspiring success stories, demonstrating that with the right strategies and community engagement, new owners can turn businesses into thriving enterprises.

Conclusion

Savannah, GA, offers a unique blend of historical charm and modern business opportunities. The city’s vibrant culture, coupled with a growing economy, makes it an ideal place for aspiring business owners. If you’re considering buying a business in Savannah, you are stepping into a market ripe with potential.

Prospects for Business Buyers

Savannah’s business landscape is rich and varied, ranging from thriving tourism-based enterprises to bustling local service providers. Here are some key reasons why you should consider this city:

• Diverse Market: Savannah has a mix of different industries, including hospitality, retail, and professional services. This diversity ensures there’s something for every type of business buyer.
• Tourism Hub: With its rich history and beautiful coastal location, Savannah attracts millions of tourists yearly, providing excellent opportunities for businesses in tourism and hospitality.
• Support Programs: The Savannah Business Opportunity Program supports local small businesses, offering resources and networking opportunities.

Key Points Summary

To wrap up, let’s summarize why Savannah is a hot spot for small business acquisitions:

1. Growing Market: Savannah’s diverse economy supports a wide range of businesses, from restaurants to tech startups.
2. Tourist Attraction: The city’s rich history and vibrant culture create a steady flow of tourists, which boosts local businesses.
3. Supportive Community: There are various programs and resources available to assist small businesses in Savannah.

You can explore current business opportunities on platforms like the Georgia Association of Business Brokers and Crexi.

Consulting with Best Business Brokers (B3)

When buying a business, having the right guidance is crucial. This is where Best Business Brokers (B3) comes in. They offer comprehensive services to help you navigate the complexities of buying a business. Here’s how B3 can benefit you:

• Expert Advice: B3 provides seasoned professionals who understand the local market dynamics.
• Personalized Service: They offer tailored services to match your specific needs and business goals.
• Connections: Leveraging their extensive network can help you find the best opportunities and resources in Savannah.

You can learn more about their services and meet professionals like: 

Brian Judson, Senior Business Broker based in Savannah Brian has been the Senior Business Broker with Best Business Broker since 2015. In 2021 he served on the boards of Buy Local Savannah, TEDx Savannah and holds a leadership position in Gulfstream’s Student Leadership program mentoring high school students. He is a member of the Savannah Traffic Club, the CFO Council of Savannah, and the Savannah Estate Planning Council His recent community involvement includes being Chair of the Savannah Historic Review Board, serving on an investment panel for the United Way, and has enjoyed being a Master Docent at the Telfair Academy and the Jepson Center for the arts.

Keith Turner, Based in Savannah Keith Turner is a successful business owner who brings a wealth of industry experience to the B3 team. Keith’s involvement and strong desire to contribute to the Coastal Empire business community makes us proud to welcome him as a Best Business Broker. He has experienced the process of how to sell a business using a business broker. This personal experience from a seller’s perspective helps Keith to relate to his clients better personally.

David Siu, Based in Savannah David Siu is an accomplished real estate professional with more than 23 years of experience in the industry and a reputation for honesty, integrity, and trustworthiness.

With a proven sales track record, David specializes in residential, retail, restaurants, real estate investments, and commercial properties. He represents buyers and sellers in Savannah, Georgia, and South Carolina in business and real estate transactions.

Michael Gay,  Based out of the Macon Area Michael’s business perspective is centered on 40 years of commercial banking background with responsibilities ranging from Branch Lender/Manager to Commercial Lender to CEO and member of the bank’s Board of Directors. Combined with almost 15 years in the military, his experience includes working relationships in many sectors of business. Also, thanks to having previously been a business owner and working in the family business he recognizes the uniqueness of each and every business. Michael appreciates the process of helping each client reach their individual goals with tailored strategies. who specialize in Savannah, Macon, and Charleston.

Tatiana Yagecic Based in Charleston and having the experience of starting and operating various businesses, Tatiana was highly recommended to B3. She joined us as a Marketing Director, but her drive and focus quickly led her to become licensed in Real Estate and become a Business Broker and COO. She strives to help her clients maximize the payout they get for their business. Her expertise contributes to many successful business and real estate acquisitions.

La’Keisha Mondrey Based in Atlanta with a remarkable track record spanning 22 years in the Hospitality, Food & Beverage industries, and an additional eight years in Real Estate and Real Estate Investing, La’Keisha Mondrey is a passionate and reliable business broker.

As a dedicated professional, La’Keisha is committed to delivering high-quality service and surpassing client expectations. Armed with a Bachelor’s Degree in Business, she continuously seeks opportunities for professional development to stay updated with the latest industry trends and advancements.

Dean Burnette Managing Broker, is based in Savannah, Georgia, and serves the South Eastern USA. He is a member of the Realtors Commercial Alliance (RCA), a subsidiary of the Savannah Area Realtors (SAR). He served as the 2013-2014 President of the Savannah Small Business Chamber and is also a member of the Savannah Area Chamber of Commerce, Georgia Association of Realtors (GAR). He was the 2019 President of the Georgia Association of Business Brokers (GABB) and serves on the Education Advisory Committee for the Georgia Real Estate Commission.

Dean has bought, sold, owned, and operated businesses since 1986. Dean specializes in brokering Manufacturing, Technology, and Logistics related businesses. He also brokers Commercial Real Estate and Industrial Real Estate for Sale.

In conclusion, the future looks bright for small businesses in Savannah, GA. With the right support and a vibrant market, new business owners have a significant chance of success. So why wait? Start exploring your opportunities today!