Also take into account the mistakes made by your
Posted: Mon Jan 06, 2025 9:03 am
You also need an overview of how many employees work in the restaurant and what their employment contracts and salaries are like. This is because you usually have to take over employment contracts when you take over a restaurant . Therefore, find out whether there are fixed-term employment contracts and how long they will run for. It is also important to know how much vacation and overtime employees still have and whether there are additional agreements on singapore phone data company pension plans. If there are contracts with delivery companies , such as a brewery contract , ask for these documents as well. Check the terms and conditions for market conformity and flexibility. Pay attention to possible exclusivity agreements that could limit the choice of delivery companies and find out about notice periods and options for adjusting or renewing the contracts. Obtain inspection reports from the Food Authority to ensure that the restaurant meets all safety and hygiene standards. Also check the licensing documents carefully. Are all required licenses, e.g. for serving alcohol, using outdoor areas or music rights, in place and valid? 3. Create a business plan Once you have carried out the financial analysis and looked through all the contracts, you should create a business plan for your restaurant and calculate in detail whether it is worth taking over the restaurant.
predecessor. What can you learn from them? If you need help, consult a business or tax advisor . Whether or not you take over a restaurant in the end also depends on whether you want to continue with the established concept or create a completely new restaurant. This is particularly important when taking over contracts. Tip: Agree on a non-compete clause with the current owner . This will prevent him or her from starting a new business in the area and competing with you in the next few years. 4. Location of the venue An important factor in the success of a restaurant is the location, because a good location is worth its weight in gold and is often hard to come by. So take a close look at it. You can take this literally: go for a walk in the area at different times of the day and on different days of the week and see how many and what kind of people are there. Does the local clientele suit your restaurant concept ? Also consider these factors regarding the location of the restaurant: Connection: Are there parking spaces? Can the restaurant be reached by public transport? Competition: What other restaurants are there in the area? How do they compete with you? What impact does this have on your business plan? Neighborhood: Talk to people in the neighborhood to get an idea of how the restaurant is received.
predecessor. What can you learn from them? If you need help, consult a business or tax advisor . Whether or not you take over a restaurant in the end also depends on whether you want to continue with the established concept or create a completely new restaurant. This is particularly important when taking over contracts. Tip: Agree on a non-compete clause with the current owner . This will prevent him or her from starting a new business in the area and competing with you in the next few years. 4. Location of the venue An important factor in the success of a restaurant is the location, because a good location is worth its weight in gold and is often hard to come by. So take a close look at it. You can take this literally: go for a walk in the area at different times of the day and on different days of the week and see how many and what kind of people are there. Does the local clientele suit your restaurant concept ? Also consider these factors regarding the location of the restaurant: Connection: Are there parking spaces? Can the restaurant be reached by public transport? Competition: What other restaurants are there in the area? How do they compete with you? What impact does this have on your business plan? Neighborhood: Talk to people in the neighborhood to get an idea of how the restaurant is received.