Written by an expert in the field of restaurant appraisal, The Sale and Purchase of Restaurants, Second Edition serves as a concise reference for food and beverage professionals who wish to sell or buy an existing food-service operation. This revised edition provides a practical guide to the valuation of the real property, other assets particular to a restaurant, and the business itself. It includes updated and expanded coverage of valuation principles and procedures. It also develops sales and purchase strategies for reaching an acceptable price, terms, and conditions, and successfully transferring them from the drawing board to the sales contract. The second edition has also been updated to reflect the latest U.S. tax laws. Like the original edition, the second edition is divided into three parts: Part 1--Determines a food-service operation's value from the seller's point of view. Part 2--Determines a food-service operation's value from the buyer's point of view. Part 3--Examines buying and selling strategies, closing procedures, and alternative methods of financing the purchase. The Sale and Purchase of Restaurants, Second Edition is an essential reference for anyone interested in buying or selling an existing food-service establishment, as well as for anyone involved in litigation concerning the sale or purchase of a restaurant.