Hawaiian BBQ restaurant Investment?

See L&L growing, like to open the Hawaiian BBQ restaurant.

I got a great deal, the owner runs a teriaki restaurants, no experience. The space 1600 sf. in a busy shopping center near Target, Marshall...

I can get it for $20,000 with all equipments, only 3 years old.

The rent is high, $6300/mo, the lease ends July, 2009;
elec & gas $1500/mo, the average annual sale $330,000, grocery about 30%, employee 30%...

If I take over, I definitely can drop grocery & employee at least 25%, that I can get over 20 - 30% net profit. My conservative net profit at least $60,000 per year.

Within 3 months, I can get my investment back. Gradually I will convert it to Hawaiian BBQ, there is new opening in the city, but far away.

1, Do you think it is good investment to buy the restaurant?

2, any idea how to miminize the risk?

3, pick good name for the restaurant?

4, don't worry about competition? There are 19 L&L in my city - San Diego.

5, how to promote my restaurant business?

Thanks

well i do know that there is a lot of hawaii people that move to california so it may work, but you would have very tough competition with L&L. they have been around for quite some time and can afford to serve their customers cheap food, while you starting out will not be able to do that for quite some time. You might get a leg up by thinking of some off the wall things to add to your menu, or make it a slightly fancy place to eat (think Panera Bread) fast food that is qualtiy made and the place has a nice decor. Sorry but about every l & l ive been to the resturants always look dingy and i always get a stomach ache after eating the food. So if you can find ways to fix that that would be good