Are you ready for a restaurant partner?

Books are clean and current (last 12 months reconciled monthly)

No serious partner — investor, operator, or advisor — moves forward without seeing real numbers. If your books are 6 months behind, fix that first.

I can produce a P&L, balance sheet, and trailing-12 by the end of this week

If pulling these takes more than a few days, it signals operational immaturity and kills momentum during diligence.

I know my unit-level economics: prime cost %, labor %, and EBITDA margin

Every conversation goes here within the first 15 minutes. Not knowing your numbers is the #1 deal killer.

I have a written, one-page version of where I want the business in 3 years

Partners are trying to figure out if your goals match theirs. "I'll know it when I see it" is a red flag.

I know what I'd give up — equity %, control over which decisions, time commitment

If you haven't decided this in advance, you'll either give up too much under pressure or kill good deals over things that didn't matter.

My lease has at least 5 years left (or a clear path to renew/extend)

A short fuse on the lease scares off anyone investing capital or sweat. This is fixable but takes time.

I have a current org chart with named roles and responsibilities

Partners want to know who does what — and where the gap they'd fill actually is.

I have an attorney and CPA who know hospitality and can paper a deal

Don't go shopping for these mid-deal. Have them on speed dial before the first conversation.

I've talked to my spouse, co-owner(s), and key staff about bringing in a partner

Surprising your co-owner with a signed term sheet is how partnerships die in the first 30 days.

I'm honest about why I want a partner — not just the polished pitch

If the real reason is "I'm exhausted and need a way out," that's fine — but you need a different kind of partner than someone who frames it as "scaling a winner."

Are you actually readyfor a partner?

Are you actually ready
for a partner?