Restaurants & cafés for sale

A restaurant is three things at once: premises, a kitchen and a team. Start with the premises and the location. Where do the guests come from, what does the place look like on a Tuesday in February, and how much do seasons, tourists and outdoor seating matter for revenue? Eat there several times, including unannounced, before you make an offer.

The biggest risk is often owner dependence. If the owner is also head chef, host and the reason guests come, much of the revenue can leave with them. Ask who cooks, who holds the recipes and whether the head chef and sous chef will stay after the sale. A place with a strong concept and a team that runs without the owner is worth more than one built around a single name.

Restaurants and cafés are usually priced on profit. Sitavo’s indicative range is 1.5–3 times annual profit (SDE: profit plus the owner’s own salary and one-off items), cross-checked against 0.2–0.5 times revenue. New, well-kept fixtures, a long lease and premises where a licensed restaurant can lawfully operate push the price up; heavy reliance on the owner pulls it down. These are general market ranges, not a valuation — use Sitavo’s price estimate to see where a specific business lands.

• Monthly revenue, split between food and drinks.
• Cost of goods relative to revenue, and how it has developed.
• Staff costs, including the hours the owner and family work themselves.
• Rent and fixed costs and how the rent is indexed.
• Card and cash sales, and whether the till figures match the accounts.

• Annual accounts, VAT returns and daily till reports — and that they match the bank deposits.
• The lease: term, notice, rent, and that the premises may be used as a restaurant. Can it be transferred, and will the landlord approve you?
• The latest inspection reports from the Danish Veterinary and Food Administration (the smiley scheme) and any enforcement notices.
• An equipment list: what is owned, leased or rented, and the condition of kitchen, cold rooms and extraction.
• A staff list with contracts, length of service, accrued holiday and any collective agreement.
• Permits for outdoor seating and opening hours, music licences (Koda/Gramex) and supplier agreements with commitments.

Never pay for revenue that is not in the accounts. See also the pre-purchase checklist.

A Danish alcohol licence is personal and does not transfer with the business. You must apply to the municipality yourself, and it takes time. Speak to the municipality early, and make the purchase conditional on obtaining a licence if the business cannot operate without one. As the new owner you must also register the food business with the Danish Veterinary and Food Administration (Fødevarestyrelsen); check when this must happen relative to the handover date. Permits for outdoor seating and extended opening hours do not necessarily carry over either. For buyers from abroad, the procedures and forms are Danish, so a local adviser is well worth it.

Most Danish restaurants change hands as an asset purchase: you buy the fixtures, name, recipes, website and social media and take over the lease. In a share purchase every contract and liability stays with the company; see the guide on asset or share sales. Staff transfer on their existing terms under Danish rules on transfers of undertakings, and you take over their length of service and obligations such as accrued holiday. Attach an equipment list to the purchase agreement and count the stock on the day. Agree what happens to gift cards, prepaid events and bookings after the handover. Read more about the handover.

Restaurants are often bought with own funds combined with a bank loan and vendor financing. If you would rather run a place without buying it, see leaseholds, where you pay the owner an ongoing fee. Messaging sellers and making offers on Sitavo is free, and you agree price and terms in the deal workflow. The purchase price is paid directly from buyer to seller — Sitavo never holds the money. Read how payment works.