STARTUP Why should you buy an existing restaurant or bar?

When you’re considering to open a food or beverage concept (or any other business for that matter) you might think to yourself, ‘self, I should buy an existing restaurant but I don’t want to buy a franchise.’  Now, if your self answers back then we all have other questions on hand.  But for all general purposes you might also think, ‘ what are the benefits of buying an existing restaurant or bar?’  Here’s our handy dandy Frog list of pros and cons of buying an existing restaurant or bar location.

 

Pros

  • infrastructure hopefully exists:  HR hiring, employee handbook, scheduling, job duties, paperwork, payroll
  • menu is set
  • advertising, business plan, banking, credit card processing all in tact

Cons

  • no franchise fees
  • may take over a struggling location
  • change of decor and menu will have to be slow
  • assume previous employees
  • assume business name
  • assume equipment

Buying an existing location can be a GREAT advantage for people who do not wish to go through the entire birth process. There are a lot of perks if you wish to assume a facility and a lot of headaches that come with it, too.  Be sure you know what you’re buying and the bargain can be found.  Buy the place and need to trade in some equipment?  Call the Frog- we can help (407) 480-3409