Need some advice

Junior Burger
  • Total Posts : 6
  • Joined: 2006/01/19 10:24:00
  • Location: Fairfax, VA
  • Status: offline
2006/10/24 11:18:03 (permalink)

Need some advice


I have been a lurker on this board for a long while as I planned and strategized for opening my own counter service BBQ joint.

Here is what I need advice on:

There is a restaurant for sale. It is an Indian restaurant and the owner wants to sell the business outright, but is also open to any offers. (He is a very motivated seller who wants to move back to India upon getting rid of the restaurant).

He wants the next person to assume his current lease (which is a very good rate of $3100/month for a 3300/sq foot building.

The configuration of the current place will meet my needs, if very few, minor, changes.

THe location is great, the market is ripe for what I want to do.

I have gone through his establishment and taken a list of the equipment I could use in my establishment. According to my equipment needs and what he currently has, I want to make an offer to him to assume the lease but to only buy certain pieces of equipment from him.

From my list, I estimated that for the equipment alone that he has, if I were to buy it new, it would cost me $27,684.00 without tax, shipping or installation.

My question to you is this: This is used equipment that is in good working order. If new equipment costs $27,684.00, how much should I offer him? Half? 3/4th?

ANy thoughts would be greatly appreciated. He knows up front that I am not interested in his name, reputation, clientel or proprietary information (recipes) and he is still calling me often about what I want to do.

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