{"id":32537,"date":"2019-08-28T10:39:34","date_gmt":"2019-08-28T14:39:34","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=32537"},"modified":"2022-10-12T11:28:34","modified_gmt":"2022-10-12T15:28:34","slug":"dividing-up-restaurant-ownership","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/dividing-up-restaurant-ownership\/","title":{"rendered":"Dividing Up Restaurant Ownership"},"content":{"rendered":"<h2><img class=\"aligncenter size-large wp-image-32538\" src=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2019\/08\/ARF-Post-08282019-1024x538.jpg\" alt=\"Dividing Up Restaurant Ownership\" width=\"1024\" height=\"538\" srcset=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2019\/08\/ARF-Post-08282019-1024x538.jpg 1024w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2019\/08\/ARF-Post-08282019-300x158.jpg 300w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2019\/08\/ARF-Post-08282019-768x403.jpg 768w, https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2019\/08\/ARF-Post-08282019.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>Dividing Up Restaurant Ownership<\/h2>\n<p>There are several factors that go into dividing up restaurant ownership when you are first getting started. Before you even open your doors, you\u2019re going to need to make sure to have proper documentation that all parties agree to. You must be prepared for the future\u2014whether it\u2019s through expansion or\u2014in dire circumstances\u2014arguments or closure.<\/p>\n<p>One of the most challenging aspects of owning any business that you enter with a partner is deciding the amount of equity everyone is entitled to. In short, how big a piece of the pie does everyone get? The key to making this decision as painless as possible is a standard operating agreement. If you are an <a href=\"https:\/\/www.investopedia.com\/terms\/l\/llc.asp\" class=\"broken_link\">LLC<\/a> (limited liability company), chances are that all the owners of your restaurant will get a different percentage of the company. The reason you want an ownership agreement is that it clearly outlines ownership structure and profit interests. Check out the Toast article \u201c5 Benefits of a Restaurant LLC Operating Agreement\u201d to learn more about operating agreements.<\/p>\n<p>To determine ownership, you\u2019ll want to look at key factors such as monetary contributions, the skills and experience each partner has, and the time spent on operations. How much will the business skillset of your partner(s) contribute to your restaurant\u2019s success? And remember that as you\u2019re getting your new business up and running, it\u2019s okay to change your operating agreement based on the time, effort, and skills being contributed by the other owners. One person may really be stepping up to the plate while another is lagging behind. In this case, reevaluate your divisions and adjust accordingly.<\/p>\n<p>Are you leaning on investors to get your restaurant off the ground? There\u2019s nothing wrong with that tactic, but be prepared to grant partial ownership to them. When the time is right, you can also consider buying out your investors\u2014and a <a href=\"https:\/\/www.arffinancial.com\/development\/loans-by-product\/flex-pay-loans\/?urlsource=blog\">Flex Pay loan<\/a> from ARF Financial may just be the perfect solution, allowing you quick access to funds and low, weekly payments.<\/p>\n<p>What about <a href=\"https:\/\/en.wikipedia.org\/wiki\/Vesting\">vesting<\/a>? There are many schools of thought when it comes to vesting agreements within your new business. Some would argue they aren\u2019t necessary, while others would say they are a <a href=\"https:\/\/www.businessinsider.com\/how-to-allocate-ownership-fairly-when-forming-a-new-software-startup-2011-4\">non-negotiable<\/a>. As with everything in business, do what you and your partners feel is best. If you are worried that granting 25% of your company to a partner who might bail after a couple weeks, only to return years later claiming they still deserve 25% of your profits, realize that a vesting agreement is probably a good idea.<\/p>\n<p>Need more tips on starting and running a restaurant? We stock The Pantry with new articles every week, covering everything from marketing tactics to the latest industry trends. <a href=\"https:\/\/www.arffinancial.com\/development\/blog\/?urlsource=blog\">Pay us a visit today<\/a> to see what\u2019s cooking!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dividing Up Restaurant Ownership There are several factors that go&#8230;<\/p>\n","protected":false},"author":5,"featured_media":32538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[128,690],"tags":[398,402,400,399,429,428,430,427,220,213,116,173,117,426,401,224,222,172,226,142],"class_list":{"0":"post-32537","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-day-to-day-business-operations","8":"category-restaurant-financing","9":"tag-affordable-business-loans","10":"tag-affordable-small-business-growth","11":"tag-business-expansion","12":"tag-business-growth","13":"tag-business-partnership-ownership","14":"tag-business-partnership-rules","15":"tag-dividing-business-ownership","16":"tag-dividing-restaurant-ownership","17":"tag-flex-pay-loans","18":"tag-line-of-credit","19":"tag-restaurant-financing","20":"tag-restaurant-funding","21":"tag-restaurant-loans","22":"tag-restaurant-ownership","23":"tag-small-business-expansion","24":"tag-small-business-financing","25":"tag-small-business-funding","26":"tag-small-business-growth","27":"tag-small-business-loans","28":"tag-working-capital"},"acf":[],"yoast_head":"<!-- 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