In Seattle, as well as across the country, the restaurant business is one of the most challenging. There are many factors that come into play that make this a type of business that is very risky as a startup business unless you have several important elements on your side.
One of the more important considerations is the benefit of buying one of the already established restaurants for sale in the city. This actually helps you avoid several of the challenges of starting your own business, but it does take careful review in order to choose the right restaurant.
Location is Everything
Unless you have a major appeal, such as a world-renowned chef, one of the most important factors for the success of any restaurant is the location. Ideally, by working with a knowledgeable business broker specializing in restaurant properties, you can identify the area of the city that are most known for food and entertainment.
Buying restaurants for sale in areas that are already known for great restaurants is a big factor. Of course, if you are opening a fast food type of restaurant or more of a casual dining family restaurant there will be specific locations that are ideal for those eateries as well.
Often restaurants for sale through brokers are being marketed quietly to selected buyers rather than to the general public. These are often the restaurants with top reputations and a good customer base, which are the best option for a buyer.
The alternative is a restaurant that was poorly managed or operated, or that gained a reputation for bad food or bad service. Sometimes, even if you change the décor and offer a different menu, people will still have bad memories of a meal at the location.
Re-branding these types of restaurants can be very challenging, but it is not impossible. Often, if a dramatic change in the cuisine, style and décor is all part of the plan a past poor reputation can have only a limited initial impact.
Condition and Price
With any restaurant the condition of the equipment and the décor, the quality of the cook and wait staff and even if a quality manager will stay on during the transition between owners can all be a factor in the price as well as the sale.
When working with a business broker, he or she will be able to provide information on what factors should be considered in the offer to buy. This help can be invaluable in helping you find the right Seattle restaurant to launch your new business endeavor.