Reply
New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

Wasn't knocking you at all just stating some facts as I know them.. Yes you could hire a experienced manager to run the business but that requires more cash on top of all the other expenses you will need to pay for. A successful restaurant is more then just good food it's the whole experience. Can you be successful with just good food? Moften it often not. Can you be successful with ok food and good service? Yes. Not knowing how your business is suppose to operate could you cost you everything.. The restaurant industry can be a shady industry and some people would have no problem screwing you over In a minute and you may not even know it till its to late. 

 

But in terms of getting funding from a lender or investor its not going to happen.. You would have to tap friends and family for the money.

 

Established Member
Posts: 27
Registered: ‎07-14-2012
0

Re: Amone?

i have experience in being a manager

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

In a restaurant? General Manager? You didn't mention that you just said you cook for friends and family.. 

Established Member
Posts: 27
Registered: ‎07-14-2012
0

Re: Amone?

[ Edited ]

Yes a manager for restaurants i also have cooked for homeless people and friend of a friends a lot of people all say i should open a restaurant including my brother in law who owns his own business but his is different his work is dealing with government and corporations

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

Still lack the critical GM or above experience that lenders/investors want to see.. At those levels and 10+ years of experience you should have a full understanding of the business and most importantly the financials of running a restaurant..

 

What certifications do you have within the food service industry?

Established Member
Posts: 27
Registered: ‎07-14-2012
0

Re: Amone?

I have over 10 years of experience and i've seen people start a restaurant with no experience it's their first time i have talked to them

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

[ Edited ]

You should find out where they got their start up money from.

 

What certifications do you hold? These help!

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

You should have mentioned you don't have any credit! 

 

You won't get a loan any where no matter what with no credit..Alot of investors even want to see your credit scores.

Established Member
Posts: 27
Registered: ‎07-14-2012
0

Re: Amone?

they leased a building and bought equipment

New Contributor
Posts: 132
Registered: ‎11-21-2012
0

Re: Amone?

Even if  you could get a lease some place you still need the equipment , working capital etc.. No credit=no money from lenders..

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.