Opening a restaurant can be a grand adventure, and it’s also a time of uncertainty. Location will be key player in the success of your business. When you consider areas that always have a high influx of vacationers and tourists, opening a restaurant in The Florida Keys makes perfect sense. There are locals like anywhere, but there are people coming to the area all winter long, because it’s always “beach season” in the Keys! These vacationers need quality places to eat and enjoy themselves, so a restaurant is likely to be a safe bet when it comes to business. As with anywhere, you’ll need to do your homework, and consider the commercial property that the Keys have to offer for your dream business opportunity.

Three Steps To Opening A Restaurant in The Florida Keys

  •  Analyze the Market
  •  Perfect your credit and obtain funding
  •  Consider transitional issues

When you’re looking at commercial property for a restaurant, there are two ways to go: buying an established restaurant, or finding a commercial building that would make a great restaurant venue and starting from scratch. If you’re new to the restaurant business, it may be more logical to buy a property that already is being used as a restaurant. You’ll want to look at any competitors and consider the location of the restaurant – is it easily accessible to most people, including those that aren’t familiar with the area? Is there anything about the commercial property that causes it to stand out and be noticed? How well is the current business that’s housed there doing? Why is the owner selling? With a little due diligence, you can discover a good bit about the commercial property you are considering.
Business loans are much different than personal loans, and banks like to loan money to borrowers who have excellent credit history and also are choosing a property that is a safe bet for the business to do well. Now is the time to clean up any credit issues, and investigate the types of loans out there, what the terms of the loan are, and how comfortable you are with the terms. It can be a bit overwhelming for a new business owner, so it’s a good idea to consult an attorney and an accountant to make sure you’re not doing anything too risky. There’s always risk in business, but there are many ways to make it more likely your business will blossom. Heeding the advice of professionals is the first step to achieving that.
If you are buying a restaurant that already is in operation, consider the types of transitions you will need to make. Are you going to have a similar menu, and are there any legal issues with continuing signature recipes the restaurant is known for? Are you going to keep the same amount and number of staff – and are you going to offer employment to the same staff that already exists? How will this affect your start up budget? These are some of the major things to consider. You also need to consider if you’re going to make any changes in theme, décor, layout or business hours. These are just a few of the decisions you will need to make as business owner, but they are a great place to start. Investigate local trends and size of staff – how many employees will you need, and will you offer benefits like insurance? This is where an attorney is invaluable, because there are many laws that affect you as a business owner, and you’ll need to make some decisions with those laws in mind.
In the meantime, check out these 1-click searches:

Newest Key West Commercial Properties on the Market

Very unique Marina & Resort in Islamorada, FL. Manager on site handles responsibilities with oversight from the absentee owner. Rare 1+ Acre Oceanside Lot with many uses possible. Deep water protected harbor with 18 large boat slips that can accommodate 50+ ft. yachts. Approach depth approximately 6 ft.+ at high tide with a clearly marked channel. Features include water, new 30 Amp and 50 Amp electric at each slip, fuel dock, concrete building with office, ship store, workshop, and garage/storage. 2 outdoor showers, 2 bath houses with indoor showers, stalls, and dressing area. New waste/pump-out station and fuel station. New Concrete In-ground Pool, Deck and Fence just completed. An additional separate concrete building used for storage on the North side of the property. Private marina, must call for an appointment and sign an NDA/CA for more information. $6,995,000 Active

200 Treasure Harbor Drive ISLAMORADA, Florida

4 Baths 1,069 SqFt

Rare Mixed-Use Investment Opportunity in the Heart of Key Largo! Discover a truly unique and versatile property that seamlessly blends commercial potential with comfortable residential living in one of the most sought-after locations in the Florida Keys. Positioned in a high-traffic area with exceptional visibility, this mixed-use asset offers an outstanding investment opportunity for entrepreneurs, business owners, and investors alike. The first floor boasts a spacious 1,026 sq. ft. commercial space, perfect for a business. Complementing this indoor space is an additional 672 sq. ft. covered outdoor work area with a convenient ramp, ideal for expanded operations, storage, or creative use. Whether you envision a thriving business or a workshop with high visibility, this space offers endless possibilities. Above the commercial space, the second floor features two charming one-bedroom, one-bathroom residential apartments, each spanning 750 sq. ft. These well-appointed units provide a comfortable and private living space, perfect for on-site business owners, rental income, or employee housing. With its prime Key Largo location, this property is surrounded by local shops, restaurants, and attractions, ensuring a steady stream of foot traffic and exposure. Whether you're looking to establish a business, generate rental income, or both, this versatile property is a rare gem that offers the perfect blend of work and living in the heart of the Keys. Don't miss this extraordinary opportunity. Contact us today to explore the endless potential of this unique mixed-use property! $1,399,000 Active

100693 Overseas Highway KEY LARGO, Florida

1 Baths 2,574 SqFt

Prime commercial property in the heart of downtown Key Largo. 5,457 sqft commercial space available immediately for lease! Access inside via private Elevator or Staircase. Large windows for natural lighting. Current floor plan includes many individual offices but could be reconfigured. Ample parking in front and side. $12 sqft gross lease. The unit has it's own bathrooms and kitchenette area. Great visibility on US 1! Zoned Urban Commercial with many possibilities. $5,457 Active

99451 Overseas Highway 2nd Floor KEY LARGO, Florida

4 Baths 13,260 SqFt

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


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