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Operating Agreement For Restaurant
"I need an Operating Agreement For Restaurant for a new fine-dining establishment in Mumbai opening in March 2025, with three equal partners who will all be actively involved in day-to-day operations, including specific provisions for profit sharing and executive chef's equity participation."
1. Parties: Identifies all members/owners of the restaurant business, including their full legal names and addresses
2. Background: Outlines the context of the agreement, including the business purpose and intent to operate a restaurant
3. Definitions: Defines key terms used throughout the agreement
4. Formation and Name: Details of business registration, trade name, and business structure
5. Capital Contributions: Specifies initial and ongoing capital contributions from each member
6. Ownership and Profit Sharing: Details the ownership percentages and profit distribution mechanism
7. Management Structure: Defines the management hierarchy and decision-making processes
8. Operational Requirements: Outlines daily operations, working hours, and general business procedures
9. Financial Management: Covers accounting practices, banking, financial reporting, and audit requirements
10. Employee Management: Guidelines for hiring, training, and managing staff
11. Compliance and Licensing: Requirements for maintaining necessary permits and licenses
12. Insurance and Liability: Required insurance coverage and liability allocation
13. Dispute Resolution: Procedures for resolving conflicts between members
14. Term and Termination: Duration of agreement and conditions for termination
15. Governing Law: Specifies that Indian law governs the agreement
1. Intellectual Property Rights: Provisions for protecting restaurant brand, recipes, and trade secrets - needed if the restaurant has unique branding or proprietary recipes
2. Franchise Provisions: Required if the restaurant is part of a franchise system
3. Multiple Location Operations: Needed if the business plans to or already operates multiple locations
4. Outdoor Seating Requirements: Specific provisions for restaurants with outdoor dining areas
5. Delivery Services: Provisions for food delivery operations and partnerships with delivery platforms
6. Liquor License Compliance: Required if the restaurant serves alcoholic beverages
7. Event Hosting: Provisions for restaurants that host private events or catering services
8. Third-Party Vendor Relations: Guidelines for managing relationships with suppliers and service providers
1. Schedule A - Property Details: Floor plan, seating capacity, and equipment inventory
2. Schedule B - Initial Capital Contributions: Detailed breakdown of each member's initial investment
3. Schedule C - Management Responsibilities: Specific duties and authorities of each management position
4. Schedule D - Operating Procedures: Detailed standard operating procedures for daily operations
5. Schedule E - Menu and Pricing: Initial menu items and pricing structure
6. Schedule F - Employee Handbook: Detailed policies and procedures for staff
7. Schedule G - Compliance Checklist: List of required permits, licenses, and renewal dates
8. Schedule H - Insurance Requirements: Detailed insurance coverage requirements and policies
9. Appendix 1 - Required Forms: Templates for various operational forms and reports
10. Appendix 2 - Emergency Procedures: Emergency protocols and contact information
Authors
Applicable Law
Board of Directors
Business Day
Business Hours
Capital Account
Capital Contribution
Company
Confidential Information
Defaulting Member
Effective Date
FSSAI
Financial Year
Force Majeure Event
Governing Law
Gross Revenue
Health License
Initial Capital
Intellectual Property Rights
Interest
License
Management Committee
Managing Director
Member
Net Profits
Operating Expenses
Operating Procedures
Premises
Profit Share
Restaurant
Restaurant Manager
Restaurant Staff
Service Area
Shareholders
Trade License
Transfer
Working Capital
Kitchen Equipment
Menu Items
Operating Hours
POS System
Quality Standards
Seating Capacity
Storage Area
Trade Fixtures
Food Safety Standards
Health and Safety Regulations
GST
Municipal Authority
Capital Contribution
Ownership and Membership
Management Rights
Voting Rights
Profit Distribution
Financial Management
Operational Requirements
Food Safety and Hygiene
Licensing and Compliance
Staff Management
Health and Safety
Property and Equipment
Menu and Pricing
Quality Control
Confidentiality
Non-Competition
Intellectual Property
Insurance
Indemnification
Force Majeure
Dispute Resolution
Amendment
Termination
Assignment
Notices
Governing Law
Severability
Entire Agreement
Environmental Compliance
Record Keeping
Audit Rights
Business Hours
Emergency Procedures
Maintenance Requirements
Vendor Management
Customer Service Standards
Marketing and Branding
Cash Management
Tax Compliance
Food Service
Hospitality
Restaurant Industry
Food & Beverage
Catering
Quick Service Restaurants
Fine Dining
Casual Dining
Hotel Restaurants
Food Court Operations
Legal
Operations
Finance
Human Resources
Compliance
Food Safety
Kitchen Operations
Management
Administration
Business Development
Restaurant Owner
Managing Director
Operations Manager
Restaurant Manager
Food and Beverage Manager
Executive Chef
Kitchen Manager
Compliance Officer
Legal Counsel
Finance Manager
Human Resources Manager
General Manager
Area Manager
Business Development Manager
Franchise Manager
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