AboutRick Dudasik Expertise I can answer questions relating to most areas of the restaurant industry including: starting a restaurant, design, food costing and pricing, site selection, staffing, training, equipment, profit and loss questions, sales training, recipies and many other areas of the industry. I have been in the industry for thirty years and have experience in fast food management, multi unit management, casual dinning management,and ownership. Have helped open over fifteen units throughout the United States.
Question I found this restaurant in a tourist town with a three bedroom house attached for 169,900. It started as a ice cream window type thing that started to do food, then built an out building for people to sit and eat that is totally enclosed and heated. No alcohol sales due to seating area not attached to kitchen. could be done. Everyone older then me says I could get it for less cuz of market. Retired couple started it. He fell ill. It does need work to be safe and to code. Was thinking of asking 150,000.
Answer Dear Stephanie,
Get a professional contractor to give you an estimate to bring it up to code.
It may take a lot more than you are thinking.
Then , once you think you can make a profit, make a low offer and negotiate just as you would if you were buying a house.
You may find that electrical, safety and health codes will all need to be updated and make it impossible to make any profit as a restaurant.
