Forums: Discussions for entrepreneurs and small business.

chef with 30 plus yrs experience in 5 star 5 diamond resorts looking for an investor for a restaurant in Texas, Have business plan finished and am willing to do what it takes, only looking for 150k

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

To answer on your comments
1) Upscale eclectic, menu changing weekly or more, not 5 star price
2) Yes have an area and one site now
3) Yes have an accountant, and some key staff members
4) Point taking
5) Not desperation,but know the hard work and hours that go into starting a business, especially a restaurant

Look, your post can only be understood in two ways:

•    You estimate your capital requirements to be only about $150,000 because you already managed to secure a couple hundred thousand dollars in investments or you are in a position to provide that kind of money out of personal funds.

That, in addition to your 30 years+ experience as a chef, should provide you with an excellent starting point and probably even enable you to get a loan from the SBA or a bank.

•    If the above is not the case and you’re hoping to turn your dream into a reality based on a total investment of $150,000, you’re set yourself up for a disaster. There’s no way and I mean absolutely no way that you can run a full service operation based on that kind of money – even if the location is move-in ready and equipped with all the necessities an upscale full service restaurant requires.

Having said that, I would be eager to learn how you plan to pay for (i) staff, (ii) supplies, (iii) marketing, (iv) back office, (v) additional equipment (vi) maintenance & repairs etc, let alone at least 4-6 months worth of operating expenses to cover the start up phase, knowing that most full service restaurants hardly break even during the first 4-6 months. As a matter of fact most of them won’t live to celebrate their first year anniversary.  

In addition, an investor won’t even look at your business plan if you don’t have any skin in the game and expect him to assume the entire financial risk. Why would he? If he wants to open a restaurant, for whatever reason, he could hire a chef.

I understand that there may be certain factors in your business plan that would balance your value/investment proposition, but based on your post, this is just the reality of the hospitality industry.

I hope this helps.


Mark



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Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com

DaveD,

How one goes about acquiring capital is more conducive to success than is the where factor. The first step in the How is to choose your optimum capital strategy. There are several ways to bring capital into a business - but it's vital to select the optimum one for you and your situation.

The "right' deals put to the "right' people in the "right" way can get capital support.

 

If you want to discuss your specific situation, send me a PM or contact me directly.

 

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com