5 Must-Ask Questions Before You Buy an Italian Restaurant

Do you know everything you need to know before buying an Italian restaurant? John Davies shares the 5 must-asks!

From red wine and homemade spaghetti to delicious tiramisu and more, there’s a lot to love about Italian restaurants; but when you’re in the market to buy an Italian restaurant, there are a plethora of questions to ask. Mamma Mia!

What to Know Before You Buy an Italian Restaurant

Are you considering buying an Italian restaurant? Utilize Sunbelt Business Brokers’ latest blog, “5 Must-Ask Questions Before You Buy an Italian Restaurant,” to determine if the Italian restaurant business is right for you.

1. Is the lease transferable?

Keeping the restaurant in the same location can help to retain existing customers, so be sure the lease is transferable before signing on the dotted line. Some landlords are cautious about transferring leases to new restaurant owners so secure a lease assignment prior to buying a restaurant.

2. What is the restaurant’s reputation among the community?

In the restaurant business, reputation can make or break you. Before you buy an Italian Restaurant, be sure to ask about the business around town and browse review sites such as Yelp. If the reputation is bad, keep in mind that new ownership is not always evident to customers and consider how you might turn the reputation around.

3. What condition is the kitchen equipment in?

The cost of replacing or repairing commercial kitchen equipment can add a sizable expense to an already expensive investment. Assess the condition of the restaurant’s equipment prior to purchasing the business. If you’re not 100% positive what you should be looking for during an evaluation, hire a professional from your local restaurant supply shop to do the evaluation. If the equipment is leased, work with the seller to get a lease assignment for the equipment.

4. What is the current outlook for the restaurant industry?

For those of you thinking of buying an Italian restaurant, now may be the perfect time to do it! According to the National Restaurant Association, the restaurant industry’s projected sales for 2017 are $799 billion making 2017 the eighth consecutive year of industry growth. Plus, Italian cuisine ranks highly among the most beloved ethnic cuisines in America.

5. Are you cut out for the restaurant business?

If you’ve never worked in the restaurant business before, there are several factors that you may want to consider before purchasing an Italian restaurant. From long hours on your feet and managing staff to “wowing” your patrons and more, restaurant owners have to be able to deal with a high level of stress. If creativity, hospitality, and physical stamina are not your strengths, there may be other business ownership opportunities that are better for you.

While we’ve gone over a few questions to ask before you buy an Italian restaurant, there are a number of other factors to consider. Buying and selling an Italian restaurant is no walk in the park, so it’s best to have an expert on your team to guide you through the transaction process. When you work with your local Sunbelt Business Brokers office to buy an Italian restaurant, we’ll help you with everything from finding your ideal Italian restaurant and negotiating with the seller to conducting due diligence and closing the deal. Contact us today to begin your search for an Italian restaurant for sale near you!

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Author: John Davies
After obtaining his MBA, John began his career at PriceWaterhouseCoopers, the international accounting and consulting firm, and subsequently joined Progressive Corporation, a large U.S. based insurance company. John was a Division President at Progressive and subsequently became the CEO of a New York based private equity investment company. In 2001, he founded MMI as a platform investment company and MMI has subsequently acquired 15 additional companies.