Opening a restaurant is an exciting endeavor. Even more exciting is the prospect of opening a restaurant along the coast. As beautiful as the view might be, educate yourself on the potential risks of this lovely piece of real estate. You don’t want your dream to come crashing down after a disaster.
First things first: pick a quality insurance agency that specializes in marina coverage. You might not own a boat, but being along the waterfront has risks of its own.
Flooding: High tides can result in unwelcome water making an appearance inside your property. Damages can be crippling, but a quality insurance agency can help.
Storm damage: When Mother Nature shows her fury, it can be powerful. Oceanside storms can cause property damage to windows, roofs and the structure as a whole.
Vessels: It’s unfortunate, but it happens: a badly steered boat can strike a building and cause serious damage. Being covered from these types of collisions can save hundreds of thousands of dollars.
Know exactly where your food is coming from, and be meticulous in proper refrigeration policies. The numbers don’t lie: every year, 48 million Americans get sick from foodborne illnesses. Establish a good relationship with reputable vendors and have strict policies with staff involving storing and reheating food.
Only you can decide if the risk is worth the reward when buying beachfront property. Running a business by the sea can be beneficial, but knowing the risks ahead of time can make your decision easier.