I want to own my own restaurant...?!
I want to own my own restaurant...?
I have been cooking for about 10 years, I know I'm not the best cook in town=) But I do a good job. the thing is that I'm tired of working for other people, thats why I want my own restaurant. I guess my question is, is that what do I do on a very small budget?what should I do to get started?
Answers: You Need Good Luck Source(s):
Good Luck! 1. Find partners and a Location
2. Write a Business plan (why will your restaraunt succeed when the vast majority fail?, what will you sell, what is your niche?)
3. Apply for a small business assoc. (SBA) loan.
4. Work really really really hard. keep working for other people when you get alot of money then open up your business i want to open up my own business too
if you where 2 do it over again would you pick the same career? and can you tell me about this career thanks offer something special, start small be consistent. People look for something special, make the eating environment comfy . You will do good it does not need a lto of money just special food , special atmosphere and people will star coming to your place 90% or all restaurants fail in the first year, owing mainly to UNDERCAPITALIZATION.
You need to be able to make it through, without making a profit for TWO years.
YTou also need something that is different than anything else out there, but not too out there You will need about $100,000 - $200,000 to start up a restaurant from scratch. You will need to fund the following:
-Equipment for kitchen
-Dining chairs and tables
-A lot of cutlery, crockery, glassware, napkins, table clothes
-Rent and bond up front
-renovating establishment eg carpet, kitchen, bar area, walls, toilets etc
-Enough stock of food and beverages
-advertising for establishment
-advertising for staff.
-safety equipment (fire blankets, signage, extinguishers)
-safety booklets
-staff booklets
-Point of sales system (register and software)
-Accountant & Laywer
plus much more
There are 2 options if you dont have much money.
Option 1. Buy a buisness that is going under (yet already esblished and build it up)
Option 2.
Get a business plan including mission statement, 5 year goals, etc and find a silent partner (or financial backer).
REMEMBER MOST ESTABLISHMENTS FAIL IN THE FIRST 18 MONTHS- 2 YEARS. THATS WHY YOU NEED SO MUCH MONEY BECAUSE YOU WILL NOT SEE A PROFIT UNTIL THEN. thats why they fail. Dude - having been a restaurant owner, I have to tell you that you have about a snowball's chance in hell unless you have a big budget.
Why don't you, instead, go to chef school - a really good one like the CIA - and invest in your education. Chefs with great educations get much better jobs and have it easier to get investors to open a restaurant. also in the process make sure you have a great staff that you can trust with your life. because when you walk into the restaurant the food could be great but if the staff sucks, that's what you remember. if the staff is great and so is the food it will keep people coming back. 1st impressions are lasting impressions. and when you have a great experience, you tend to tell everyone you know word of mouth is the best advertising out there.