Questions

The restaurant business is very difficult. You need specific restaurant experience in the founder group. Make sure you have done a lot of homework - make sure you have a unique value proposition for potential customers. Spend a lot of time selecting the location - make sure it will draw customers, there is enough parking outside the restaurant and the building itself can pass the local regulatory standards for a restaurant. Consider if you need to sell alcohol and if yes, research what the regulations are for that. I you start paying rent and work on getting a restaurant up and going an do not have a permit - it will keep you from generating revenue and increase the capital you will have to invest in the startup phase. I have had a lot of experience setting up budgets and forecasts for businesses. Please feel free to set up a call if you would like to discuss.


Answered 8 years ago

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