Buy an established fish and chip restaurant

Existing local regulars, families and visitors who already know the shop.

Meal and drink sales at set menu prices. You earn from the shop's existing trade, and can improve profit through better buying, tighter costs and a refreshed menu.

• Reading a business's books and basic accounts
• Running a kitchen and front of house
• Staff management
• Negotiating a purchase and lease

• Sales figures that can't be backed up by tax returns and bank records, get an accountant to verify them
• Lease length, rent reviews and whether the landlord will transfer or renew it
• Food business registration usually needs to be transferred or re-registered with the local council, check how this works locally
• Outstanding staff entitlements and award obligations that may pass to you, and workers compensation insurance
• Age and condition of fryers and extraction, which can be costly to replace
• Public liability and property insurance, and a liquor licence if you plan to serve alcohol

Estimates suggest costs are typically around $150,000 to $450,000, depending on the location, equipment, lease and customer base. Have an accountant verify the sales figures against tax returns and bank records before you commit.

Estimated monthly revenue is typically around $40,000 to $120,000, depending on the shop's location, seating and regulars. Check the age and condition of fryers and extraction, as replacing them can be costly.

Check the lease length, rent reviews and whether the landlord will transfer or renew it. Also check how food business registration is transferred or re-registered locally, and any outstanding staff entitlements and award obligations that may pass to you.