This restaurant partnership agreement template has 5 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our restaurant partnership agreement template:
RESTAURANT PARTNERSHIP AGREEMENT This Restaurant Partnership Agreement (the "Agreement") is effective [DATE], BETWEEN: [FIRST PARTNER NAME] (the "First Partner"), an individual/entity with their principal place of business/residence located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTNER NAME] (the "Second Partner"), an individual/entity with their principal place of business/residence located at: [COMPLETE ADDRESS] WHEREAS, the First Partner and the Second Partner (collectively referred to as "Partners") desire to form a partnership for the ownership, management, and operation of a restaurant; and WHEREAS, the Partners agree to the terms and conditions under which the restaurant business shall be owned, managed, and operated; NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Partners agree as follows: FORMATION AND NAME Partnership Formation: The First Partner and the Second Partner hereby form a partnership (the "Partnership") for the purpose of owning and operating a restaurant (the "Restaurant") under the terms of this Agreement and in accordance with the laws of the [State/Province] of [STATE/PROVINCE]. Partnership Name: The Partnership shall operate under the name [RESTAURANT NAME], or such other name as the Partners may mutually agree upon in writing. Principal Place of Business: The principal place of business of the Partnership shall be located at [ADDRESS], or such other location as the Partners may agree upon. PURPOSE 2.1 Business Purpose: The purpose of the Partnership is to operate and manage a restaurant, including the sale of food, beverages, and other related products and services. 2.2 Scope of Business: The Partners agree that the Partnership shall focus solely on the operation of the Restaurant, including food preparation, marketing, sales, customer service, and day-to-day operations. Any expansion or addition of services must be mutually agreed upon in writing by the Partners. CAPITAL CONTRIBUTIONS 3.1 Initial Contributions: Each Partner agrees to contribute the following initial capital to the Partnership for the establishment of the Restaurant: First Partner: $[AMOUNT] Second Partner: $[AMOUNT] 3.2 Additional Contributions: If additional funds are required to operate or expand the Restaurant, the Partners may agree to contribute additional capital. Any further contributions shall be made proportionate to each Partner's ownership interest unless otherwise agreed in writing. OWNERSHIP INTERESTS 4.1 Ownership Percentages: The ownership interests of the Partners in the Partnership shall be as follows: First Partner: [PERCENTAGE]% Second Partner: [PERCENTAGE]% 4.2 Adjustments to Ownership: Ownership interests may be adjusted upon mutual written agreement by the Partners. Any additional investments or contributions made after the initial capital contributions may result in an adjustment to the ownership percentages. PROFIT AND LOSS DISTRIBUTION 5.1 Profit Distribution: The net profits of the Partnership, after all expenses and liabilities have been satisfied, shall be distributed among the Partners in proportion to their ownership interests. 5.2 Losses: Any losses incurred by the Partnership shall be shared by the Partners in proportion to their ownership interests. The Partners agree to contribute additional funds, if necessary, to cover losses, subject to mutual agreement. MANAGEMENT AND DECISION-MAKING 6.1 Roles and Responsibilities: The Partners shall jointly manage the Partnership and the Restaurant. Each Partner shall have the authority to make day-to-day operational decisions, including hiring and managing employees, ordering supplies, marketing, and maintaining the Restaurant. 6
