I have plenty of experience, but no money and terrible credit (due to a divorce). Any ideas for funding? Will anyone lease me space? I have an investor, but no one willing to sign a lease, besides, I don't want a partner.
2006-06-16 11:27:37 · 8 answers · asked by Golden 2 in Business & Finance ➔ Renting & Real Estate
Start out small. For example, sell hot dogs at a flea market. I know that doesn't bring up visions of grandeur, but everyone has to start out somewhere. Colonel Sanders started out as a travelling chicken salesmen who sold his food from the back of his car.
2006-06-16 11:32:56 · answer #1 · answered by stevis78 4 · 0⤊ 0⤋
If you don't have good credit esablished and you want no partners, you are going to have to be a pretty fast talker. You are going to need one or the other. Even if you find someone to lease you a building you will need credit for most of the other applications in buisness. From suppliers, power company phone ETC.
2006-06-16 11:36:08 · answer #2 · answered by firedup 6 · 0⤊ 0⤋
STRIKE STRIKE STRIKE. That does not mean you are out, but based on what you have just said, you are already trying to dig yourself out of one heckuva hole. If you have an investor, let them get the lease. The investment on thier part will obviously be with some strings given the position you are in. Are you willing to give up some control? You are actually not in the best bargaining position, as I see it.
2006-06-16 11:41:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Go to work for someone else. You need big backing to start a restaurant. You would be in a better position if you had the money and backed someone else. Your experience is not any good if no one will help.
You should have a years worth of money just to personally live on before you do anything else.
HEY! Go talk to Donald Trump. He is the man with all the big ideas.................
2006-06-16 11:36:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Unlees ,you have capital and the banks will not lend to restaurants unless they are a Mc. Donald's $500,000.U.S. to open one.Work for sombody and get the in's and out's then look for a location first,study the market and mayby find a person retiering who needs some body to take over the buisness and make an offer for 6-12 months good luck!
2006-06-16 11:33:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You can have someone co-sign on your lease.You don't have to have good credit to get a SBA loan just a great business plan and the drive for success.
2006-06-16 11:33:00 · answer #6 · answered by Sunshine 2 · 0⤊ 0⤋
Do you have a business plan? (as in a printed hard-copy)
That would be the first step. You should then be able to get funding through any number of sources - such as a bank.
2006-06-16 11:46:09 · answer #7 · answered by snomeow 3 · 0⤊ 0⤋
Keep your dream take your time to realize it,rushing into this unprepared is guaranteed failure.
2006-06-16 11:45:34 · answer #8 · answered by tesorotx 5 · 0⤊ 0⤋