How to open a restaurant with no money

Posted by ShawnHessinger under Startups
From http://online.wsj.com 5553 days ago

Wall Street Journal small business columnist Colleen DeBaise explains how to open a restaurant with no money...well, none of your own anyway. DeBaise suggests gaining some experience working the restaurant business and then developing a detailed business plan demonstrating your big idea and the qualities you posses that will enable you to turn it into profitable reality. Even in a tough economy, DeBaise says there may be funding for a good restaurant concept either from family and friends or from angels, other business people for a financial partner. Read more details about DeBaise's recommendations to get your dream eatery up and running.

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Comments

Written by ShawnHessinger
5552 days ago

I have to admit I have little experience in the restaurant game so far, though, as a foodie, running a business related to stuff I like and would like to see more of in the world has always been a fantasy. Coffee in particular, has long been an interest of mine...and of my wife's. She managed a cafe at one point. I just don't know how possible it would be to launch a venture like the one the columnist describes without large cash reserves, which is one of the reasons I found this post so interesting. Restaurants seem to have a lot of overhead (and a lot of government regulation here in the States) which is, I think, why nowadays they are not necessarily a first choice for entrepreneurs without big bankrolls.

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Written by lyceum
5553 days ago

Shawn, I have heard stories that it could take up to three years before an restaurant is reaching break-even? But I have also read about a specialty coffee shop that I turned into a profit in a record time in New York City.

On of our business "areas" at Blue Chip CafÃ© & Business Center was the "bar" (coffee house in Italian). It was great margin on selling tea and coffee, but we had to invest plenty of money in equipment and other stuff, e.g. espresso machine, furniture. I think Gothenburg had 300+ coffee places so it was hard to compete, although we focused on a special niche of customers. It could take a long time to reach out to your customers.

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