Is Buying a Restaurant for You?

Sometimes the best thing a restaurant broker can do is tell his or her client not to buy a restaurant.  I know that may not seem like the smartest idea if your only goal is collecting a commission.  However, that’s the advice we have delivered several times over the course of our careers in restaurant brokerage.  After all, while buying a restaurant sounds fun, the reality of owning a restaurant isn’t for everyone.  

That’s why we built a tool to help you decide your own risk tolerance for owning a restaurant.  Take advantage of the only restaurant broker developed quiz we know of, the Restaurant Assessment Tool^© to see if buying a restaurant is really the right idea for you. 

This tool is built for buyers to help you align your lifestyle, financial, and business requirements with the type of restaurant listings where you should focus your attention.   It may also reveal that while buying a restaurant seems like a great idea at first, reflecting upon the choice demonstrates some pretty significant lifestyle demands on your family that may rule ownership out for you.   

The Restaurant Assessment Tool© is a ten-question survey that leads you to answer:

1. What type of restaurant am I looking for?

2. What type of restaurant delivers what I need for myself and my family?

3. What am I willing to sacrifice to obtain this restaurant in terms of money, time and lifestyle?

For a full list of potential answers and the complete tool, click this link to download the only industry tool for buying a restaurant and answer these questions.   

• What does my earnings requirement force me to focus on?
• What type of lease or purchase situation do I want?
• What kind of restaurant do I want?
• How much money do I need to make to support my family?
• How much restaurant experience do I have?
• If I’m in charge of my own destiny by owning a business, what days and hours do I want to operate?
• What is the alcohol level I’m comfortable serving?
• What’s my relationship status?
• How far am I willing to travel from my home to my restaurant to work each day?
• Where am I going to get the capital for my restaurant?

Once you choose from the answers, organize your choices into a single paragraph.  You should know at a glance whether buying a restaurant is the right choice for you.