The Buyer’s Three Stage Checklist
The following list is broken down as follows: Stage 1 – Items you need to do before you sign a purchase contract; Stage 2 – Items you need to complete after you sign a purchase contract, and Stage 3 – Items you need to do in order to close escrow. Many other items are important, […]
Important Questions and Information to Ask the Seller
From my versatile experiences as a restaurant owner, buyer, seller, landlord and restaurant broker I have prepared the list of questions below which should make it easier for a buyer to learn as much as possible about the business they will potentially be purchasing. The more a buyer knows in advance about the business, the […]
What You Are Buying When You Purchase a Restaurant, Bar or Club
When the buyer is purchasing a restaurant, bar or club the purchase includes 1. Fixtures and Equipment, 2. Licenses, 3. Leasehold Improvements, 4. Premises Lease, 5. Goodwill, 6. Cash Flow and 7. Covenant Not to Compete. All of these items are discussed in depth as indicated below. Fixtures and Equipment. This includes all the fixtures […]
Advantages & Disadvantages Of Buying An Existing Restaurant Versus Developing a Restaurant
The Advantages and Disadvantages Of Buying An Existing Restaurant Versus Developing A Restaurant From Scratch Advantages in Purchasing an Existing Restaurant 1. Less financial risk especially if you’re buying an existing business that is profitable. 2. There is a quicker opening time versus all the red tape you need to go through in a […]