There are hundreds of questions to ask: Is the restaurant located in a busy area? Will you need a lot of new equipment or are you keeping the old ones? Is the restaurant's clientele compatible with the new concept you want to bring? What licenses will you need? Who are your competitors? How are the balance sheets doing?
Below, we try to answer all these questions as best we can and summarize germany whatsapp number the essential steps to take into account when getting started. Here are the different points covered in the article:
The business fund: what is it and what does it consist of?
The “diagnosis” of the establishment and its equipment
Contracts, licenses and administrative authorizations
Location and competition
The clientele and the target
The employees
The financial history of the establishment
Finally, the reason for selling the restaurant
Bonus tip: What is the procedure for buying a restaurant business?
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1. The business assets
The business fund represents all the movable property and rights belonging to a trader that allow him to practice his profession. It is in a way the value of the company . When you take over a restaurant, you buy back its business fund.
What constitutes goodwill?
the material, the furniture, the equipment, the cash register system ;
administrative licenses and authorizations (very useful for the sale of alcohol, for example);
employment contracts;
the clientele;
the right to a rental lease;
the brand name;
accounting documents (financial statements, accounts), etc.
Note: Debts are not normally transferred with the fund and remain attached to the trader/seller. You can request, or even demand, a certificate guaranteeing the absence of debts to have peace of mind.
It is therefore essential for you to know what makes up the business assets of the restaurant you are thinking of taking over. What will be transferred to you?
2. Diagnosis of the establishment and its equipment
Diagnose the current restaurant by researching its brand and how it is perceived. If the reputation of the establishment is really bad, it could impact your new business. You can easily do research on the web and read the various comments posted by past customers.
Next, is the establishment compatible with your project? Does the layout of the restaurant suit you? Will you have to budget for a large amount of work? And the equipment that is given to you, i.e. for example the tables, the counter, the chairs, the kitchen equipment — is everything in good condition?