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

 

New Contributor
Posts: 64
Registered: ‎07-14-2012
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Re: Amone?

i have experience in being a manager

EX: 701 TU: 707 EQ:695
New Contributor
Posts: 132
Registered: ‎11-21-2012
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Re: Amone?

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

New Contributor
Posts: 64
Registered: ‎07-14-2012
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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

EX: 701 TU: 707 EQ:695
New Contributor
Posts: 132
Registered: ‎11-21-2012
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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?

New Contributor
Posts: 64
Registered: ‎07-14-2012
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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

EX: 701 TU: 707 EQ:695
New Contributor
Posts: 132
Registered: ‎11-21-2012
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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
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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.

New Contributor
Posts: 64
Registered: ‎07-14-2012
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Re: Amone?

they leased a building and bought equipment

EX: 701 TU: 707 EQ:695
New Contributor
Posts: 132
Registered: ‎11-21-2012
0 Kudos

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..

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