Common Contracts
1 similar Restaurant Partnership Agreement contracts
Restaurant partnership agreement pdfRestaurant Partnership Agreement • October 5th, 2020
Many budding restaurateurs are partnering with others who can provide the necessary financial resources and business expertise to make the effort successful. Partnerships can be sealed with a handshake, but a binding legal agreement is a much better way to ensure the smooth operation of your restaurant. Thus, each participant will have their own input, expectations, roles and risks clearly documented. A partnership agreement with a restaurant should codify what each member brings to the table. One partner may be responsible for the start-up capital needed to ensure the safety of facilities and equipment, for example, and another to operate day-to-day operations as soon as the restaurant opens. State who is responsible for every part of the business. You don't want a situation where two or more partners believe they have the right to choose a restaurant menu or fire a chef. In the absence of a specific agreement, each restaurant partner can be personally responsible for the debts of the
