Restaurant for Sale in Istanbul
Restaurant for Sale Istanbul
Buying a restaurant for sale Istanbul is no more difficult than purchasing a restaurant for sale in Turkey as a foreigner. The main reason for this is that you need to know what taxes your business has to pay and how this business works in the country in question, in this case, Turkey.
Can Foreigners Buy Restaurant in Istanbul?
Anyone who wants to buy a restaurant in Istanbul in Turkey real estate can do so under certain circumstances. If you want to know if can foreigners buy restaurant in Istanbul as a foreigner, of course, you can! The Foreign Direct Investment (FDI) law in Turkey says that foreign investors must follow the same laws and rules as local investors. The law on foreign direct investment is based on the principle of equal opportunity. Domestic investors must follow the same rules when forming a corporation in Turkey and transferring shares to foreign investors who want to invest in Turkey real estate. Consequently, opening a restaurant for sale Istanbul is a fantastic opportunity for foreigners to invest in a property for sale in Istanbul.
Since Istanbul is a tourist spot, the food service industry is one of the most profitable right now. The most recent statistics are very positive and show that Turkey's catering industry's revenues increased to more than $22 billion.
In addition, people in Turkey love good food, so if you can make a tempting menu and offer fast delivery, you will be able to fill your pockets with cash and your kitchen with orders.
How Do I Buy Restaurant in Istanbul?
After deciding on a location, it's time to start brainstorming names for your new restaurant for sale in Istanbul. Great restaurant locations are available for purchase in Istanbul real estate market, but prospective restaurant owners should study up on the regulations before making any moves. To that end, think carefully about the food and drink options you'll offer to your customers. Once you've decided on a menu for your Istanbul restaurant, it's time to work on the paperwork and get the materials you'll need to file for business with the Turkish Trade Register. To sell food products in Turkey, you must have Articles of Association, a bank account in Turkey with sufficient funds to cover the minimum share capital, a VAT certificate, and sanitary approvals from the relevant regulatory agencies.
Is Buying a Restaurant in Istanbul a Good Investment?
Understandably, you wonder if buying a restaurant in Istanbul is a good investment; I say, like any investment, a restaurant in Istanbul will yield excellent results if planned correctly. Is Istanbul restaurant a good investment? Let's brainstorm together.
Catering businesses rely heavily on their physical location. If you want to increase your customer base and income, opening a restaurant in Istanbul on a busy street will do it better, but your rent will also increase. To save money on lodging, staying in the back alleys and going to work for a package delivery business is also possible. When deciding where to invest in Istanbul real estate, it's crucial to get a bird's-eye view of the city and scope out the various dining districts. Based on your findings, you can then make a list of potential locations, such as streets and malls. For instance, if you're considering buying a restaurant on Bagdat Street, you should do some thorough research on that area. It's essential to investigate to find out which restaurants are open, which businesses are conducting events, and which ones have been closed. It's possible to do everything correctly in terms of running a business except for the one thing that could send you straight to bankruptcy: failing to complete your research. You should describe the area as thoroughly as possible. Indeed, the placement is so crucial that getting it right the first time might reduce the amount of time it takes to fix any subsequent mistakes. Despite their high prices, malls are also a reliable source of foot traffic. However, this is something that everyone has seen; some restaurants in the shopping center are thriving, while others are struggling, despite being only a few meters apart. You can avoid this by learning more about the restaurants currently located in the mall and those that were previously present but have since closed.
How to Buy a Restaurant in Istanbul
You must acquire all required licenses and permits. After getting the necessary information, apply to the local government. You can use your city's website to gain access to applications. You will have to go through regular inspections to make sure you are following the rules of the Health Ministry.
Decide on the concept.
When deciding what kind of restaurant for sale Istanbul in Turkey real estate to buy, there are a number of factors to consider. It's common for people to want to run restaurants that serve the foods they enjoy cooking. Some may also be intrigued by the franchise opportunity. This method has the potential advantage of capitalizing on an established brand name and advertising foundation. But it is expensive, and those restaurants must follow many strict rules.
Choose the best location.
The location of a restaurant is of utmost importance. There are many things to think about while looking for the best place to put your restaurant, such as the number of potential customers in the neighborhood and how easy it is to get there. Looking around for the best location and trying to haggle down the best price possible is essential.
Prepare a business plan.
Create a strategy for both business and advertising. These plans, which incorporate market research, can help you understand the needs of your target market and the best strategy for standing out from the competition. These two blueprints will serve as your guides throughout the business startup process in Turkey real estate.
Give careful consideration to the name you pick.
Restaurant names might be based on a concept, a geographic region, or a pun. Think about how your restaurant's name will make customers feel. Pick a name that is simple and easy to spell. It's annoying to misspell the name of a restaurant on a map.
Prepare the menu.
You can't have a restaurant without a menu. True foodies will return to your restaurant if you have a good menu. Think about how you optimize sales and minimize waste while planning. Moreover, during the preparation phase, you should think about whether or not you will have adequate room to store food. Also, you should avoid amateurish menu designs, such as those with tiny stock graphics.