Tips on finding an operator/owner
**Restaurant owners who stepped away from operations, how did you do it?**
I own a long-standing family restaurant in Southern California that I took over from my parents a few years ago. Business is doing alright, I’ve got a team and systems in place, but I’m at a point where I don’t really want to keep investing all my time and energy into growth.
Simply put, I’m not that passionate about restaurants.
However, I don’t really want to sell the whole thing either. It holds sentimental value to me. Ideally I’d keep some equity and find someone who actually wants to operate and grow the business. Whether that means they buy into it, earn equity over time, buy a majority stake, etc.
For anyone who’s done something similar, how did you structure it and where did you find the right person?
Did you find an experienced operator/GM? Promote someone internally? Find someone who wanted to become an owner?
Also curious what you’d do differently if you had to do it again.
Just trying to learn from people who’ve been through it before. Appreciate any advice.