Business Forum | Small Business Forums | Entrepreneur Forums

Forums  |   Register  |   Login  |   Forum FAQ

You need to be a registered member to use our business forums.
Register or Log In Now

Reluctant Restaurant/bar Seller

 
  Printable Version
All Forums >> Businesses For Sale >> Buying a Business >> Reluctant Restaurant/bar Seller Page: [1]
Login
Message << Older Topic   Newer Topic >>
Reluctant Restaurant/bar Seller - 12/19/2011 10:43:20 AM   
Peterjames

 

Posts: 1
Joined: 12/19/2011
Status: offline 		I have owned a restaurant with full bar on an idyllic, although remote, tourist Island over looking the Gulf of Mexico for only one year.
I took on one of the chefs from my other restaurant as a partner to manage this place but, without going into details here, it is not turning out the way I expected. Although the numbers are positive.
The business has great backing from the landlord. I am not willing to move 150 miles to relocate the family and run the place myself. And now I feel like I have no choice but to get out of the situation. Any advice on other options? I don't really want to go down the partnership trail any more.

_____________________________

Peter
Post #: 1
RE: Reluctant Restaurant/bar Seller - 5/9/2012 5:57:27 AM   
ShorebirdProperties

 

Posts: 3
Joined: 5/9/2012
Status: offline 		Here is an option; (1) Sell your interest to your partner or (2) Sell your interests to another. This will change or dissolve the current partnership (depends on the details) the Attorney who set up your partnership could advice you how to do it properly and amicably if possible. To start, though, you may need to list or advertise the sale of your interests, and disclose at first contact with potential buyer/investor. This may result in both of you (partners) selling it out together and parting ways. Since I am not privy to all the details, this is an opinion based on assumptions and really carries no weight. But if your business is in Florida I will be happy to sell it for you.

(in reply to Peterjames)
Post #: 2
Page:   [1]
All Forums >> Businesses For Sale >> Buying a Business >> Reluctant Restaurant/bar Seller Page: [1]
Jump to:







0.078

Find great franchise opportunities that fit your budget!

Franchises under $10,000
Franchises under $20,000
Franchises under $50,000
Franchises under $70,000
Franchises under $100,000