38 - How to buy a Restaurant and the common traps to avoid

Make sure you check out the Restaurant Innovation podcast.  This is our most popular podcast this so far this year and it goes into the processes that can help you be more productive in your Restaurant. In this podcast, we talk to Robbie Doyle from Buy Grow Sell a Business. Robbie has been a chef for 25 years and a Real Estate agent specialising in hospitality for 10 years. He tells some sad stories of Restaurant purchases gone bad and people who have lost their homes in when their Restaurant business has gone broke. What are the right and wrong motivations for buying a restaurant? What are the big 5 mistakes that people make when buying a Restaurant? Where are the best buying opportunities to buy a Restaurant? What discuss Robbie's thoughts on fitout costs? What role do systems play in Restaurant success?  Should you buy a systematised restaurant or not? How do the successful people flip Restaurants?  What is the process they go through? What are the general rules of thumb for metrics on sale price? What bargains are out there and should you be looking for the bargain, or are the bargains bargains for good reason?