Deciding to open a restaurant and teaming up with someone else is a decision that needs to be carefully considered. It’s important to think about why you want to partner and with whom. It could be a friend, family member, acquaintance or work colleague. You also need to ensure that your vision, your values, your philosophy, match your future partner. Opening a restaurant with a partner has both advantages and disadvantages. Let’s take a look at the advantages.
The main advantages lie in our complementary professional skills. Each of you had a professional background that enabled your restaurant to make a difference in terms of service, management, business development and many other aspects. Another important point is the possibility of having a manager present at the restaurant. If you are absent, ill or have an accident, the company continues to operate. The fact that there are two of you means you can encourage and stimulate each other, and exchange ideas and visions for your restaurant. There’s less pressure when there are two of you. You won’t always agree, but as I often say to my clients, the important thing is to move the company forward, because if from a professional point of view you’re making progress, from a personal point of view you’re making progress too.
The most important is to draw up your shareholders’ agreement. It allows you to protect each other. It enables you to put down on paper certain legal aspects concerning, for example, the sale of your respective shares. In the event of an accident, a change of life and possibly the desire to bring in a new partner. These are just a few details, and I recommend that you consult a lawyer to help you with this task.