Restaurant Checklist

  1. Name of Business
  2. Address and phone number
  3. Name of owner(s)
    • Address and phone numbers
  4. History of the facility
  5. Seating (bar, lounge, dining room, waiting area)
  6. Parking spaces on site/off site
  7. Demographics
    • Population 1-3-5 mi. daytime/night-time
    • Growth rate
    • Income
    • Median age
    • Occupation profile
  8. Signage (visability)
  9. Traffic county & major arteries
  10. Traffic generators
    • Theatres
    • Hotels
    • Office buildings
    • Downtown
    • In-town shopping
    • Colleges
  11. Get snap-shots of interior/exterior
  12. Positioning of business
    • Menu items
    • Menu prices
    • Lunch counts
    • Dinner counts
    • CK. average
    • Marketing survey
    • Customer survey
    • Type of advertising promotion
  13. Abstract of Lease
    • Verbal agreement
    • Any anticipated problems with assignment
  14. Zoning, any restrictions
  15. The prescence and effect of any barriers to movement, such as rivers, railroad lines, social transitions.
  16. Operational Statement
    • Sales
    • Costs
  17. Personally inspect for:
    • Outside landscaping
    • Inside
    • Equipment
    • Tonnage of air conditioning
    • Check for gas, electric, water, sewage, cable TV
    • Fire sprinklers
    • Type of construction
    • Deferred maintenance
  18. List of FF&E to be included in sale.
  19. Liquor license assignment/availability
  20. Check with building depart./health depart./fire depart.
  21. Determine sales price and terms
  22. Areas to improve business
  23. Owners reason for selling
  24. Prepare financial package
    • Pro-forma of business
    • Conversion/remodeling expense
    • Return of investment
    • Internal rate of return
    • Payback period
    • Break-even
    • Net profit
  25. Prepare marketing package
    • Target potential users
  26. Market Property.