Before You Close: The Restaurant Owner's Checklist
A free checklist of every document, record, and account you need to gather before you close, sell, or negotiate your way out of a struggling restaurant.
Why This Checklist Exists
Most restaurant owners who close do it reactively -- they run out of money, stop paying rent, and then try to figure out what to do. The owners who close cleanly do it proactively -- they gather their documents, understand their obligations, and make decisions in the right order. This checklist is the starting point for a clean exit.
What the Checklist Covers
- Financial records: P&L, bank statements, tax returns, loan documents
- Lease documents: original lease, amendments, personal guarantee, assignment clauses
- Employee records: payroll history, accrued PTO, I-9s, W-2s
- Vendor accounts: outstanding balances, contract terms, deposit amounts
- Licenses and permits: liquor license, health permit, business license
- Equipment: ownership vs. lease vs. loan, serial numbers, condition
- Insurance: current coverage, claims history, cancellation requirements