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How to buy a restaurant. Buying a Restaurant - What You Need To Know If
you’ve spent anytime at all looking at restaurant for sale ...
... In order for a consumer to backward integrate into this industry they would need
to start a new restaurant or buy a franchise such as Boston Pizza. ...
... Eppies Restaurant would buy an extra order for their product and in return they
would get a discount. Finally we have our customers who buy our foods. ...
Restaurant. Premarital sex is a huge problem in society today. ... Why would a
person want to buy a used car when they could buy a new car? ...
... More advanced math is used in the restaurant business as well. Using equations to
determine what your business can afford to buy as well as the difference in ...
Submitted by anshulz on May 7, 2008
Category: Miscellaneous
Words: 1460 | Pages: 6
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Buying a Restaurant - What You Need To Know
If you’ve spent anytime at all looking at restaurant for sale listings, you probably realize that there are more restaurants listed than any other type of business. The question is whether this a good or bad thing? There’s really two ways to approach it: the optimist will say that there’s a great market when the time comes to sell; while the pessimist will want to know why all of these people are selling their business? Actually, they’re both right.
On the positive side, good restaurants, just like any other solid business, will sell quickly; especially in the current market with so many people looking to buy a restaurant. On the other hand, the failure rate amongst restaurants is so staggering that many people simply want to get rid of them before they become another statistic. With this in mind, there are a number of critical issues you need to be aware of so that you’re certain when you buy a restaurant, it will be successful with you as the owner
The Lease
Unless a restaurant has a long established, storied history, most often the location will play a significant role in its success. Traffic can be driven by its proximity to office workers, a movie theatre, a mall, or a thoroughfare. Whatever the reason one can see that location is crucial and this is directly related to the lease in place.
More and more landlords are being cautious or downright difficult when it comes to assigning a lease to a new restaurant business buyer. Some flatly refuse an assignment unless the buyer has prior experience in this field. Or, they may require the former owner to remain on the lease (very difficult to convince them to do so), or they may insist that the buyer puts up a significant advance of the rent into escrow.
With these potential challenges, it is recommended that you address the lease portion of the deal as soon as possible with the seller. It is imperative that any...
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