Restaurant Business Plan Operations
Buying a restaurant.?
My wife and our friends are trying to buy this resturant that I am currently working at. Its a turn key operation with the facility and two three bdrm apartments on top as well. Its in an extreamly prominante shore town about three blocks from the beach. The opportunity is golden. I have years of resturant expierence and all the energy in the world. We are in the prosess of writing our business plan as well. Heres the problem – we have no money. Myself and my friend both own the homes we live in but sadly we both just moved in and dont have much equity to draw from. The building and the business is being sold for $850,000 including all the kitchen equiptment. I called my bank and was told that I need 15 – 20% down to do this. I cant let this opportunity slip by but the lack of funds seems to be getting in the way. There must be a way to do this I just dont know how. Help. Thanks in advance
Sell your house and move into one of the apartments! Then you will have lots of cash for upgrading the restaurant.
If you go into business with no working capital, the stress will be so high that the business will suffer.
By living on the premises, you will have far more control, and the business will benefit.
Restaurant-Marketing-Systems | Marketing-Basics & Internal-Operations | Tip 14
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