Restaurants

United States
April 24, 2008 10:55am CST
We have an opportunity to open a 'Mom and Pop' type restaurant. Actually the restaurant owner approached us and asked if we were interested in buying her restaurant. She's been in business for 9 years and has seen success. In fact she's too busy with another restaurant and she wants to concentrate more on her other one. This would be a land contract purchase. We are interested in becoming restaurant owners. Any feedback? Since my husband and I both love to cook, this would give us a great opportunity to use our skills. We are just a bit shy. Has anyone out there had experience with restaurant ownership?
2 responses
@GreenMoo (11837)
24 Apr 08
Do you mind if I ask *why* she approached you? Why did she think that you would be the right people? I've no experience of running my own restaurant, but having worked in the industry I can tell you that it's terribly hard work and long hours. But, it's a great business. This opportunity sound interesting if she's selling her goodwill with the restuarant. An existing opportunity makes your chances of success so much higher. Good luck!
• United States
24 Apr 08
My husband told her over a year ago that if she was ever interested in selling to let him know. It's been a dream of his to have a restaurant. We've become pretty good friends with her and sell her our farm eggs. We have extended our garden by 200% and will have a natural source of veggies for a restaurant. Her goodwill is part of the sale. We are going to take a look at her financials and make a decision. Thanks for the response.
@GreenMoo (11837)
24 Apr 08
In that case, it sounds ideal! If the financials work out, I really hope that you're able to make a go of it.
@dangnabit67 (2021)
• United States
24 Apr 08
I worked in a family restraunt for 4 years. The owners were wonderful and they both cooked the same-very good infact. Be ready to raise prices when you have to-do it small so customers barely notice. You have to think ahead on the prices too so you only make changes once to twice a year. Plan on long hours when other workers dont want to work or sick. Makes it hard for you to take time off or days off. Pay attention to how the owner now cooks because you want to try and keep customers happy that already eat there. You want everything to be cooked the same quaility at all times. Because if one customer gets yucky food you can bet they tell at least 10 friends. Thats the basics that I can think of.