Is Buying an existing Hong Kong Restaurant better than Building a New Restaurant from Scratch? Here are the Key Considerations Before Buying a Hong Kong Restaurant. Check it out!
Buying a restaurant in Hong Kong is not straightforward. Careful consideration and due diligence are required before the purchase is done.
If you are going to set up a new restaurant, buying an established restaurant can be a safer option, as the restaurant for sale is already running the business with track revenue records, established clienteles, and restaurant staff.
Key Considerations Before Buying a Hong Kong Restaurant
If you are not only buying a restaurant, but also purchasing the restaurant business and trade name, what are the key considerations before buying a restaurant in Hong Kong?
- Assets & Liabilities: What does the restaurant company running the business own?
- Brand: Is there any potential to multiply the restaurant outlets?
- Customers: Are there good or bad customer reviews and a reputation with local diners?
- Due diligence: Are sales track records and all operating figures looking good?
- Employees: Will the whole restaurant team stay after the purchase?
- Licence: What are the terms and conditions of the current restaurant and liquor licence?
- Lease: When does the restaurant lease expire and what are the current terms?
- Price: Is it justified to pay this price compared to building a new one from scratch?
Depending on the final price, buying an existing restaurant can be far less costly and less risky than starting a new restaurant.
Who can assist you to Buy a HK Restaurant?
Buying a restaurant would be a very complicated process; it does not like a straight-forward business acquisition.
Lacrucci has assisted the purchase of a number of restaurants in Hong Kong in the past few years. Buying a restaurant is no easy feat.
In order to protect your interests, consider consulting a business broker who is specialized at the sale and purchase of restaurants in Hong Kong.
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