Much of a restaurant’s value is dependent on its location. When you buy a restaurant, you don’t want to have to move. Keeping the restaurant in that spot is very important. This will be accomplished by a thorough and professional review of the lease.
But ensuring customers can continue to access your restaurant is equally important and often overlooked by restaurant buyers. Even if your location doesn’t move, road works and other construction projects impact traffic patterns and can preclude access to your restaurant. If customers can no longer get to your parking lot (or even if it’s a slight inconvenience for them), you could see a sharp decline in sales.
In this video, Ed Alexander and George Rosen discuss the effects an extended construction project could have on a restaurant’s bottom line. They also show you why you should carefully account for any future city projects or road construction before you purchase a restaurant. If you don’t, the new traffic patterns and inevitably delayed progress, can kill your new restaurant.
