What kind of questions should I ask if I am thinking about buying an existing restaurant?

Answer by  elsewhen (627)

a restaurant is like any other business - it has income and expenses. i would look very closely at a few years of their financial info (to accommodate for seasonal fluctuations). The amount you are paying should probably be based on a multiple of their profits for the last few years.

Answer by  Dizzy (78)

One thing that you will want to know is all about the location. Location should be the biggest factor in your purchase, as you can change everything about the restaurant you buy except for where it is built. You'll want to know how busy it is and what types of people you should cater to.

Answer by  Rose (6804)

If you are going to buy an existing restaurant you should as to see the books for the restaurant as well as maintenance history of the equipment inside the building. You should ask if the tables, equipment is included in the price. You should also ask about the traffic.