3 Things to Know Before You Buy a Restaurant in the Florida KeysStarting your own business is always an exciting prospect. If you’re thinking about buying a restaurant in the Florida Keys, here’s what you need to know.

3 Things to Know Before You Buy a Restaurant in the Florida Keys

Many people take the plunge by becoming a business owner, but often do so not really knowing what they need to know in order to be successful at it, and an aspiring restaurant owner is no different. In fact, folks wanting to open their own restaurant are in a tougher spot than most new business owners. Here are three key things you need to know and understand about opening a restaurant.

Owning a Restaurant is Hard Work!

This is probably the single most important thing you need to know as a prospective restaurant owner. Restaurant ownership, especially during the first few years, is not fun. It can feel like a 24/7 job, as many times the work continues well after closing. Constantly being at the restaurant and dealing with restaurant issues can take its toll on both you and your family. Are you prepared to deal with that?

Know the Rules and Regulations

The first thing you’ll have to worry about is your state’s health and food safety standards. Then your locality’s general business operating rules come into play. Some of the local rules you may need to be aware of include advertising and the building’s appearance and functionality.
Advertising: The Keys have specific rules regarding signage used to advertise your business.
The building: Keeping the outside of your building neat and clutter-free is a must, and it has to meet code requirements.
Not playing by the rules can get you shut down before you get going with all that hard work you’re going to be doing, especially in the smaller localities.

Think Twice Before Hiring Friends and Family

It’s never a good idea to lend money to friends or family, and hiring them to work for you isn’t a wise thing to do either. Perhaps it may work out in the beginning, but in the long term you need to employ trustworthy, hard-working, competent outsiders. Doing so can spare a lot of resentment and hurt feelings.

Hot Key West Business Opportunities

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

This is the price for one lot. Total of three contiguous, commercial dry lots at the end of 20th St. Oceanside. Big bonus, each lot includes a deeded and assigned deep water wet slip! Each lot may be purchased individually or together. Each lot is 94.5' wide by 110' deep and has its own water & electric meters. Three addresses are 351 20th St. Ocean, 361 20th St. Ocean and 371 20th St. Ocean as the end lot. Each lot is part of a Fisherman's Pointe HOA with fees of $1,200 per year per lot. Lots are currently being used by Fisherman for trap repair and storage. Favorable Mixed Use- Maritime Zoning allows for many commercial uses.The MU-M zoning district is intended to establish areas suitable for uses which are essential to the commercial maritime industry, including sales and service of fishing equipment and supplies, seafood processing, fishing equipment manufacture and treatment, boat storage, restaurants, retail and affordable housing residential uses.The MU district is designated within the Mixed-use Commercial (MUC) future land use category on the Future Land Use Map (FLUM). $749,900 Active

351 20th St, Marathon MARATHON, Florida

This is the price for one lot. Total of three contiguous, commercial dry lots at the end of 20th St. Oceanside. Big bonus, each lot includes a deeded and assigned deep water wet slip! Each lot may be purchased individually or together. Each lot is 94.5' wide by 110' deep and has its own water & electric meters. Three addresses are 351 20th St. Ocean, 361 20th St. Ocean and 371 20th St. Ocean as the end lot. Each lot is part of a Fisherman's Pointe HOA with fees of $1,200 per year per lot. Lots are currently being used by Fisherman for trap repair and storage. Favorable Mixed Use- Maritime Zoning allows for many commercial uses.The MU-M zoning district is intended to establish areas suitable for uses which are essential to the commercial maritime industry, including sales and service of fishing equipment and supplies, seafood processing, fishing equipment manufacture and treatment, boat storage, restaurants, retail and affordable housing residential uses.The MU district is designated within the Mixed-use Commercial (MUC) future land use category on the Future Land Use Map (FLUM). $799,900 Active

371 20Th Street MARATHON, Florida

This is the price for one lot. Total of three contiguous, commercial dry lots at the end of 20th St. Oceanside. Big bonus, each lot includes a deeded and assigned deep water wet slip! Each lot may be purchased individually or together. Each lot is 94.5' wide by 110' deep and has its own water & electric meters. Three addresses are 351 20th St. Ocean, 361 20th St. Ocean and 371 20th St. Ocean as the end lot. Each lot is part of a Fisherman's Pointe HOA with fees of $1,200 per year per lot. Lots are currently being used by Fisherman for trap repair and storage. Favorable Mixed Use- Maritime Zoning allows for many commercial uses.The MU-M zoning district is intended to establish areas suitable for uses which are essential to the commercial maritime industry, including sales and service of fishing equipment and supplies, seafood processing, fishing equipment manufacture and treatment, boat storage, restaurants, retail and affordable housing residential uses.The MU district is designated within the Mixed-use Commercial (MUC) future land use category on the Future Land Use Map (FLUM). $749,900 Active

361 20th Street MARATHON, Florida

Oversized Waterfront Commercial lot located in the Big Pine Shores neighborhood. This parcel measures approximately 17,000 square feet (0.39 acres) and is zoned CFSD-12 (Coastal Fishery and Shoreland District) per Monroe County records, offering a rare opportunity for Fishing related activities and or residential development. Geraldine Street runs roughly north-south on the island's eastern side, placing the property on the bay side (Florida Bay), not the open ocean. This is a corner lot with canal frontage on two sides. In addition there is a solid, concrete seawall that surrounds both canal sides. Estimated control depth is approximately 3-4 feet, based on typical depths in the area. This bayside location offers boat access to Florida Bay. There are no structures on site; the property is vacant land only. No personal property is included in the sale. Buyer to verify utility availability and development requirements. This is a prime piece of waterfront land in the Lower Keys with flexible potential. Situated on Geraldine Street in Big Pine Key, this property provides a blank canvas with waterfront for fishing related activities or as an investment project. $775,000 Active

29557 Geraldine Street Big Pine, Florida


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