Restaurants Need to Plan for Failure
Statistically speaking, if you own a restaurant, you're probably going out of business soon.
80% of restaurants fail within the first five years, making restaurant closures a fundamental part of being a restaurant owner. It's not pleasant, but for most, it's inevitable, which is why it blows our mind that more people don't have a plan in place for when that happens.
Preparing an exit strategy in this industry doesn't make you a pessimist, it makes you a smart business owner.
When restaurants fail, operators without a game plan lose money by paying companies to remove their equipment, store it, and sell it. When a landlord is hollering at you to sign papers and complete several other tasks to get you and your business out of the building, are you prepared to deal with removal of your furniture, fixtures, and equipment? Where do you put it after that?
We have a 100-point checklist to get you through that process.* We know the struggles of closing a restaurant. We've been in this business for thirty years and have it down to a science. You'll probably be pulling your hair out of your head, so pass the torch to us and we'll do the heavy lifting for a surprisingly low cost to you. In many cases, restaurant operators who work with us even profit from their restaurant closure situation because we know how to liquidate equipment effectively.
Say you need to close your restaurant location and you want to remove and liquidate all furniture, fixtures, and equipment. We have a service for that. Want to store that equipment, or move it to another restaurant location? We have a service for that.
Now that you've read this, congratulations! You are the proud owner of an exit strategy. You don't have to act now, just keep us in mind. If the time comes, we're here to help.
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