A New Restaurant

Yesterday my post was on buying a restaurant versus starting one from scratch. I’ve also recently posted an article about assessing the location of your restaurant. Today, I have a homework assignment for you that will tie those two posts together.

Go to one of the web sites that advertise restaurants for sale. Here are a few to get you started, or you can just Google “restaurant for sale (your city)”.

Craig’s List
Business Nation
Business Broker
BizBuySell
Restaurants For Sale

Look through the list and see if there are any that look interesting. Pick one that is close to your area and see if you can get some information about it. Many times the ad doesn’t include an address, so you will have to find out where it’s located before you can go on. Email the owner and ask for more information. I usually let the current owner know that I am interested in buying a restaurant, and I need more information in order to do some research to see if this is the right opportunity for me.

You might also want to ask the owner why they are selling the restaurant. Try to learn as much as you can about the operation. Reread the post on location, then drive by the restaurant to determine if it’s in a good location.

It’s good practice. Give it try and see what you can learn.