When buying a restaurant there are specific details that are very important to keep in mind. Things such as lease agreements, locations and your experience in that specialized field are important considerations . As specialists in restaurant brokerage, BC Franchising Consultants Western Cape have a list of what to keep in mind and look out for when purchasing a restaurant from their books.
Financial Analysis – When purchasing a restaurant privately, one of the first things that should be done is a financial analysis of the establishment. However, when purchasing through a restaurant broker such as BC Franchising Consultants Western Cape, financial analysis are done for you. Getting the financial information before making decision is vital in making an educated decision.
Location – The location of your prospective venture will either break or make the establishment. When looking at buying a restaurant, it is very important to take into careful consideration where the restaurant is located. Is the restaurant located in a location with plenty of passing traffic? Restaurants with a great location and with great foot traffic on the BC Franchising Consultants Western Cape database would be the Mediterranean Style Restaurant in Tokai. Others such as the Take-Away and Fisheries in the CBD and the Steakhouse and Grill in Milnerton are also supported by a healthy amount of foot traffic.
Your Experience – If you are a first time restaurant buyer with no prior experience then it is very important to keep in mind the strengths and weaknesses of both the prospective restaurant and yourself. Investing in a business that focuses on your strengths will help making the transition into restaurant ownership that much easier. A good start in assessing the restaurant is to find out what the current owner does on a daily basis. By finding this out you can then assess if you possess the skill-set necessary to take over his position. Hiring a manager with the required skillset can also aid in the transition period. A restaurant such as the well-known seafood restaurant on the BC Franchising database is a perfect example of a manager run establishment.
BC Franchising Consultants Western Cape have many great restaurants for sale. Contact Niel Stanford for a comprehensive list of establishments as well as for more information.