Buying a restaurant has its risks. Many go out of business after a short period, but others make a great deal of money. There are a number of things you can do to increase the probability of success.

Many successful restaurants have been started or purchased by a group of investors, each of which, assumed a role in making the restaurant profitable.

Ideally, you would start with 40 fairly affluent people who would like to say they are a partner in a fine dining restaurant. Each one would commit to bringing guests once each week to the restaurant for dinner where the guests would be treated like kings and queens. The object would be to introduce the restaurant to people who can afford to dine out regularly and who would likely return from time to time. Business owners or high-level executives would be the best choices. If all 40 investors bring such guests each week, there would be 40 or more guests introduced every week. This should continue for at least the first year, resulting in (40 x 50 weeks) at least 2,000 guest introductions. The 40 weekly dinners should be spread out over the entire week. A busy restaurant creates a successful appearance leading to a successful enterprise.

Excellent training and resources are available through the California Restaurant Association and the National Restaurant Association.

Great Restaurant Ideas and Checklist

Cross-Selling and Upselling

Neighborhood Safety Evaluations for Buyers of Businesses

Glossary of Restaurant Terms

Point of Sales Systems (POS Systems)