9 Pros & Cons of Buying A Restaurant Business [BUY TIME] | Open A Restaurant 2022

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Ever thought of buying a restaurant business? Rather than starting one from scratch? If this is you, you want to make sure you know what you're getting into so you won't get burned...

Buying an existing food business is a common shortcut in the business world. Not only do you save a TON of time, but it comes with other advantages like the track record and market intelligence. In many cases, it may take a year for a restaurant to open their doors from start to finish. You can save that year by buying a restaurant. And if you have the skills and passion, you can transform a mediocre business to a great one.

But there comes a lot of dangers in doing this as well. The most common one is not doing enough due diligence in finding the right fit. When you're buying a restaurant, the track record is what it is currently. But if you add yourself into the mix, you might want to make changes in operations and staff. Yes it could boost the revenue, or it could very well tank it. Because there could be a staff fall out, customers not a fan of changes, and more.

So if you're looking into buying a restaurant business, you need to be cautious of these pros and cons. That way you can be prepared and do the necessary work to minimize the risks and maximize the advantages.

If you're a budding restaurateur, restaurant owner, upcoming small business owner, food entrepreneur, then keep on watching!

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[JetLife]

Love this! Well done. Thank you. Please do a video on what to expect when you acquire an existing restaurant- operating costs, utilities, what money do I need aside from the purchase price? That would be great. Thank you!

[arttsai]

Really great points you listed in your video..when valuing a restaurant always do your due diligence before acquiring the business. Even if the financials look like a cash cow, I would suggest find out the primary motivation for the owner's to sell!
Another tip to consider would be how would one add value to the business after acquisition: decrease wait time for customers, newly renovated interiors or washrooms, adapting to newer technology help increases market audiences/sales.

[mostrendy]

I'm 24 years old and I want to buy a restaurant, they is highly profitable restaurants on the market, infact I want to own multiple restaurants, but I'm worried about how much the staff will need me there, like must I be present very day or a few days a week... Is that something I should be worried about or I'm just overthinking it.

[praisechiedzamandimutsira]

I like watching ur videos
They are of great help 👍

[donnyvandebeek]

If a restaurant has a handover period, is it ok to be inexperienced?

[joncan]

Can you be a consultant if I want to buy an existing business?

[caferestaurantsuccess]

One of the biggest mistakes I find when people buy a growing concern, they start to make changes often alienating the existing customer base!

[rawcornreviews]

You see, nobody sells a money making restaurant. So rebranding and realigning your customer base is not only reasonable, but also a welcoming pivot!

[ausskull]

How many years track record should we look at when buying a restaurant?

[Taca_the_titi]

Yo if I don't know anything on running a business and i buy a restaurant on Facebook marketplace for 50, 000 and I learn I should be okay no also do they sell restaurants in Facebook marketplace please get back to me I want to make this life changing decision I would like to know what to expect like a piece of paper saying this is the property or something like that I don't want to get ripped off but I'm tired of this 9-5 please reach back

[MayorBrownn]

There is a very successful restaurant for sale that I have the inside scoop on. It’s a good price and I’m really interested in buying it. The thing is. I would want to turn it into a plant based restaurant as that is something I have a strong core belief in. I’m worried I wouldn’t be able to keep the customers then currently eat there. I’m not sure if it would be a great idea.

[VasinAtBangkok]

Great video! We do similair type of content. Let's be friends😀