Resolved Question
What first steps should i take to create a restaurant business?
my dream has always been to create a quaint Italian restaurant. I live in a small town in the USA that doesnt like change, but they really need some people with ideas and who care about making the town a better place. So i really wanna start coming up with some ideas and prepare to open my own Italian restaurant. I know it takes years of planning and alot of money, so i am starting early. I just got out of high school and i really wanna start putting together some ideas so by the time im out of college i might be well on my way. I want it to be quaint and family owned. If anyone has seen the diner in the movie "Return to me" then you know basically what kind of place i want and the kind of atmosphere i like. But anyways, what are my first steps and things to work on over the next few years to make my dream a reality?
Best Answer - Chosen by Asker
I'd start by getting a job in a restaurant and acquiring some experience of how they work in practise. The best restauranteurs generally have a lot of experience starting out as chefs etc. Plus you need some business management experience or qualifications. Maybe there is a college near you that teaches something that combines these skills - try looking.
To start your business you will need a lot money - either to buy an existing business or to start something from scratch. Bear in mind that you will have to kit the place out - buying furniture, plates/cutlery etc, pay for avertising, hire staff - and get them uniforms and then buy the food and drink and put together a menu etc. A lot of this money will be up-front, so if the venture doesn't work out you need to be prepared to lose the lot, and therefore it's unlikely that the banks will loan you money unless you have collateral behind you - and that means risking your house against the loan.
The wisest move would be to make this your long-term goal and in the meantime get qualifications, train/work as a chef and get to thoroughly understand the business.
To start your business you will need a lot money - either to buy an existing business or to start something from scratch. Bear in mind that you will have to kit the place out - buying furniture, plates/cutlery etc, pay for avertising, hire staff - and get them uniforms and then buy the food and drink and put together a menu etc. A lot of this money will be up-front, so if the venture doesn't work out you need to be prepared to lose the lot, and therefore it's unlikely that the banks will loan you money unless you have collateral behind you - and that means risking your house against the loan.
The wisest move would be to make this your long-term goal and in the meantime get qualifications, train/work as a chef and get to thoroughly understand the business.
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- Here there are good sites on business http://topfin3.notlong.com/3AAtKXB
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