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Starting a restaurant from scratch takes a lot more planning, designing, and developing than buying an existing restaurant does. A new restaurant requires you to do everything that has already been done in an established restaurant. You must establish the business licensing and structure, find and analyze the location, develop and design the concept, purchase the equipment, develop the systems, hire and train your staff, set up your vendors, and more. You will also be entering the world of the unknown. Will anyone know you are open? Will your location and signage be visible? Will you be able to compete? Will the consumer like your menu?
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The big advantage to starting from scratch is that you can do things your own way with your own unique flair. You don’t have to live with past transgressions,poor decisions, and past customer opinions.

Buying a pre-existing restaurant requires a significantly different approach than starting one from scratch. To buy a pre-existing restaurant, you must be a sort of private investigator. You must take care to ensure that you do not make a poor choice. If you buy a restaurant with a tarnished reputation, you are buying the reputation. If the restaurant has, for one reason or another, an incompetent staff, a poor lease, an abused appearance, nonworking equipment, or even inaccurate bookkeeping, those problems become yours also. So do some investigating and find out exactly what you are buying.

Buying an existing restaurant can have a ton of upside. This upside can include immediate cash flow, well-trained and motivated staff, effective and efficient product and service formulas in place, and reduced start-up costs.

Both building a restaurant from scratch and buying an existing restaurant have advantages and disadvantages. Yet with hard work and focus, either way could be a road to success.

Please be sure to check out our Splash Reel:  https://www.youtube.com/watch?v=MZ9Q3MdS8fo

For more details visit Restaurant Expert Witness.