Finding a restaurant partner starts with defining the gap the partner should fill: capital, operating experience, a specific skill or time commitment. Review restaurant opportunities with a clear role and budget in mind instead of treating a partnership as an informal solution to every problem.
Agree on contributions and authority
Discuss cash, equipment, labour, guarantees, contacts and other contributions, and how each will be valued. Decide who can hire, spend, borrow, sign contracts and make day-to-day decisions. Set regular reporting expectations and a process for resolving disagreements.
Check fit and financial assumptions
Ask for references where appropriate and review the restaurant’s obligations, cash flow and forecast with professional advisers. Make sure each person understands time demands, risks and any additional funding requirement. Do not rely on verbal promises or assume equal ownership automatically means equal contribution.
Put the arrangement in writing
Work with a lawyer and accountant on ownership, distributions, compensation, deadlock, departure, disability, sale and dispute procedures. A written agreement should explain what happens when circumstances change. For a prospective acquisition, our restaurant buying guide outlines the checks to make before signing.
This is general information, not legal, tax or investment advice.