How to Buy a Restaurant at the Right Price:

Before you buy a restaurant you must be aware that a restaurant is unlike any other retail establishment. Local building codes are specific to restaurants. The health department has an intimate relationship with all restaurants. The state liquor authority plays an important roll in establishing regulations and granting liquor licenses. Municipal planning and zoning regulations dictate where a restaurant can be established, and parking is an important criteria that all municipalities are strict about. Parking in the suburbs is a major concern for any buyer. How long is the lease and how much is the rent. A lease is the most important part of buying a restaurant. The lease terms, size of your kitchen and number of seats directly relate to how much rent you can afford which should be 8% to no more than 10% of gross sales. These and many more factors need to be considered when buying a restaurant. I will guide you through these details to help you see everything in proper perspective and ultimately make the right investment.

A Buyer Can Expect Us To:

• Represent you to buy a restaurant

• Assist you with your business plan

• Conduct a search for a location to lease or purchase, or a business to buy

• Accompany you on every restaurant walk through

• Advise you on the value of a business and or property

• Negotiate with a landlord and or seller to achieve the lowest rent or price

• Recommend an attorney experienced in restaurant transactions, if necessary

• Create a Letter of Intent outlining contract details for the attorneys

• Inventory and record a detailed equipment list

• Keep the transaction moving

• Supervise the walk through before the closing

• Attend the closing

• Write a Press Release to the local media when your purchase has closed

If you would like to buy a restaurant and do not want to make a mistake, call me: 917-715-4346.