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A name for a restaurant?

If you pruchase a restaurant do you have to keep the same name and style of restaurant it was or change it?

  • eg. I purchase a restaurant that is a chinese restaurant, but i want it to be a general style restaurant with classic food like chicken parma or steak. Can I change the name, restaurant style and pre much everything about it?

  • Answer:

    Sure you can. Should you is a different and better question. Is it making lots of money? If so leave it be and use that money to start another new restaurant that's exactly what you want. If its not making money, do as you please. Did someone buy a restaurant you like and change it in a way you didn't like? sorry they can do that :(

Samantha at Yahoo! Answers Visit the source

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If it is part of a franchise business, no you can not change anything. If it is an independent, yes you can do anything. Be aware the bigger the change the bigger the cost. In the example you gave, I would venture to guess it will cost you in excess of $300,000 to renovate, but the equipemt needed for the new style, the cost of planning and testing a new menu etc. If it is a business that is doing very well, changing it will most likely cause a loss of customers before you get new ones.

Bruce K

You can do whatever you like, but remember one thing. You will be paying possibly half the cost for the 'goodwill'. That is the customers who frequent that restaurant are going there for that style and standards of what they are expecting, as well as the name. Your options are to scrap the whole name and concept of the restaurant and to start new, or gradually ease in some changes. If it is a scrungy diner then I will say do the major changes, but if you are paying a lot of money for the 'goodwill consider carefully.

H-man

No you dont have to keep it the way it was unless it was in a contract that it has to stay the same. Once it is bought you own it to do whatever you will. Be careful though because buying something means you are held responsibly for any of their damages and they are your liability.

Simone P

If you bought it lock stock and barrel, it is yours to do with what you want.

scoutma53

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