Buying a restaurant starts with checking whether the business fits your experience, budget and operating plans—not with the asking price alone. Use this guide to organize your review of a listing, identify questions for the seller, and decide when to involve an accountant, lawyer or other qualified adviser. Browse current opportunities on the restaurant listings page.
Start with the listing and your own criteria
Write down your preferred location, service model, seating, hours, cuisine and the amount of time you can personally commit. Compare those requirements with the listing. Ask what is included in the proposed transaction: equipment, inventory, name, customer records, website, domain, recipes, lease rights or shares of a corporation can each be treated differently. Do not assume that an advertised asset or permit transfers automatically.
Review the evidence before valuing the opportunity
Request source documents that support sales, expenses, payroll, taxes, inventory and equipment condition. Compare reported figures across statements and periods; ask for explanations where deposits, invoices or seasonal results do not match the seller's summary. Build your own forecast with realistic staffing, occupancy, repairs, working capital and transition costs. An asking price is not proof of value. An accountant can help test earnings and identify adjustments; a lawyer can review the proposed structure and agreement.
Inspect the operation and premises
Walk through the kitchen, storage, service area and customer space. Check the equipment list against what is present and working. Review the lease term, renewal options, rent changes, permitted use, assignment consent and any landlord conditions. Confirm which permits, approvals and inspections apply to the particular location and transaction with the responsible authorities. Keep a written list of open questions and make any offer conditional on the checks your advisers recommend.
Plan the handover
Agree what training, supplier introductions, records, keys, account access and transition support will be provided. Put responsibilities and deadlines in the agreement. For incorporated businesses, ask counsel to compare an asset purchase with a share purchase; tax and liability consequences differ. The CRA explains that business purchases can involve allocating price among assets, inventory and goodwill, and that transaction structure matters for GST/HST. See its business-purchase guidance.
This article is general information, not legal, tax or investment advice.
Explore each step before making an offer
Plan an on-site inspection, request the financial documents, and review the commercial lease. Then verify licences and permits, assess the restaurant technology, and compare the asking price with a restaurant valuation.