scottran
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Simon, I would definitly ask to see the books and have an accountant look them over. My wife is in the restaurant business. She just got her food service management degree. The failure rate for restaurants is very high. I had always wanted to open one but it is a huge risk I am not willing to take. I dont know about anywhere else but, I know here restaurants are having a rough time and I believe its going to get worse. Having been in business for 14 years now, I have had other garages approach me to buy them out. Turns out they were on a sinking ship. Without me being there and seeing the situation, sounds like they are in need of a cash infusion. Here are some things to think about... Do they keep the pantry full? Do you see them cutting corners anywhere? Have any suppliers demanded COD when delivering goods? Are they trying to get more done with less people (such as yourself working 17 hr. days)? Is the equipment and building being maintained? Is therea steady cover rate or have they been dropping off? WILL YOU BE ABLE TO GET ALONG WITH YOUR NEW PARTNERS? Do they pull their fair share of work? Will you be the one working while they stand around and do nothing and reap the benefits? These are just a few things I would be looking into. I am also very leery they wanted you to make a decision on the spot. Going in debt $200K is a big decision. I wish you the best of luck. Scott
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