VCs will not fund anybody who doesn't have experience running a restaurant.
In such situations, it would be best to look for such companies which provides fundings to start up a new business. Yes, its true that one can get funding to start up a new business with the help of invoice factoring. Visit this site for more information: http://allianceonellc.com/.
Hello, I am looking to start a restaurant, but i need help with funding to get it off the ground. I am in search of either an angel investor or some sort of venture capitol. At this very moment i am working on a strong business plan to carry for the next 5 to 10 years. My concept will be centrally located where there is very high traffic. My plan is to not only serve great food in a fun and friendly atmosphere, but to give back to my community by offering services and entertainment. I have also put together a menu, employee schedule, times of operation, and specials that will be daily, weekly, and monthly. I have been in the food industry for more than 5 years, I have management experience, and i know what it takes to get things done. I also am working on a budget for my restaurant and many ways to make it profitable.
I would suggest you to make a proper plan before starting a business. Planning is considered as the most important criteria for a business. As far as funding for the business is considered it would be best if you get in touch with a bank or you can approach your family or friends.
Sounds like you have done a lot of prep work for this business- that's great.
Just a couple of comments about your capital needs. Because of the type of business and its stage- you're probably not a fit for venture capital folks. Also, most professional angels tend to focus on one of the high growth industries.
From our experience, I'd say your capital support will most likely come from your extended network, so continue to build your constituency.
If you would like to discuss your specific situation, feel free to drop me a PM or contact me directly.
I would agree with Robertj. I think you should also look into finding money online. Microfinance and crowdfunding could both be options you could use to help get your restaurant off the ground.
---I help entrepreneurs to start and run the small businesses they always dreamed of owning so they can fire their bosses and gain the freedom they deserve.
Thanks for sharing this many great ideas for starting up a restaurant. I have read each and every post and found all of them really helpful as well as informative.