What capital should i have to start a small business?

Question

I would like to open a small restaurant(30 covers). with all supplies included, how much will it cost me?

Answer 1

This can vary a great deal depending on the nature of the restraunt. Without more specifics on what exactly you want to do, it's hard to cover how much you will need.

However a good rule of thumb when applying for a business loan is to aquire enough money to pay the statup costs and 6 months of operating expenses.

Starting Costs
* Renovation of space for the restraunt
* Capital costs(i.e. kitchen materials, decorations, etc.)

Operating Expenses
* Staff Salary (remember to include yourself here)
* Monthly Lease
* Estimated food costs
* Monthly Bills (Power, water, sewer, garbage, security, etc.)

I advise going to a business plan site, and following their guide for writing a plan. http://www.sba.gov/library/pubs/mp-32.pdf is a guide to putting together a plan provided by the US government. I find it particularly valuable.

Answer 2

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* The Restaurant Business Start-up Guide by Paul Daniels
* Restaurants That Work: Case Studies of the Best in the Industry by Martin E. Dorf
* Restaurant Financial Basics by Raymond S. Schmidgall
* Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan and Feasibility Study by Sharon Fullen
* Upstart Guide Owning & Managing a Restaurant by Roy S. Alonzo
* The Restaurant Managers Handbook: How to Set Up, Operate, and Manage a Financially Successful Food Service Operation by Douglas Robert Brown

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

You can upgrade your credit score ranking however I cannot recollect precisely how. You're allowed to entry the identical documents that knowledge creditors can see. Once you have paid off a debt, you'll be able to write to the creditor who is given you the dangerous ranking and ask for it to be eliminated... or possibly you ask any other authority to take away it. Point is, I'm nearly definite you'll be able to upgrade a below-average credit ranking. There are plenty of books approximately females and trade. Get your self to a library! And ask round to peer if there are unfastened assets for females trade homeowners. You could uncover it within the mobilephone guide, or by way of ringing a small trade arrangement, or the federal government division that appears after small firms and/or tax? It's viable there is a govt division or females's arrangement that may supply you recommendation, unfastened authorized aid, aid writing a marketing strategy and getting finance. Don't use bank cards (waaay an excessive amount of curiosity in the event you pay past due), and do not permit anybody mortgage you cash except you might have a functional plan approximately how and whilst you can make ample to pay it again. Otherwise you are simply digging a higher gap... you do not become profitable by way of paying late expenses.

Answer 4

Buy this software called Business Plan Pro 2006. This will help you immensly in knowing how much it is all going to cost. It is $100, so if you dont want to pay that, just go online and search for sample business plans for people with small restaurants.

Answer 5

this is dependent on alot of factors start up cost include all the money you need for a building and fixtures(tables lights,menu,) and the capital to buy supplies and training new employees this could cost you anywhere from 500,000. to1 million a lot of research need to go into your market to see if you will be successful or not?hope this is helpful

Answer 6

You need to put together a formal financial plan. Go to your local community college and ask if one of the finance instructors could help you with this for a fee.

Answer 7

your brain... free of cost.. invest it .. invent it

if you have right idea you can make money.. seek ideas within you.