My husband & I are thinking about opening up a lilttle restaurant....probably fast food to start. I'm wondering about how much money is needed. I know we need to have money to rent a place, buy equipment and all that stuff...
2006-11-27 09:41:38 · 8 answers · asked by babygirlxx68 2 in Business & Finance ➔ Small Business
a lot!!!
2006-11-27 09:43:21 · answer #1 · answered by barney 2 · 0⤊ 0⤋
I am not sure if you have heard of Roly Poly, (a lot of people have not) but it is this awesome wrap place. All of it's locations are franchises, I believe. Anyway, franchising one is not as expensive as franchising most restaurants because a complex kitchen is not required. If I was brave enough to start my own business, I would franchise a Roly Poly. Their website gives info about the initial costs.
http://www.rolypoly.com/franchise/
To get started most people have a loan from a bank. Also, depending on where you are, you may be able to get a grant. My county has a program where new businesses are eligible for grants. The candidate would have to provide a written business plan. Then if it was seen as something that would be successful and needed in the area, the new business would receive the grant.
Good Luck!!
2006-11-28 05:29:38 · answer #2 · answered by JGiddy 2 · 0⤊ 0⤋
Depends on if you want a franchise or not.
Look at a minimum investment of 1 1/2 mill for McDonalds compared to 100G for a mom and pop place.
Remember, 2 out of 3 small businesses fail within the first two years. Make sure one of you is working outside the business for secured income and put all profits back into the business to sustain it.
Never underestimate the value of a CPA!!! I can't say that enough. Your accountant should know small business and verse you on what you can write off.
Go to irs.gov for the skinny on what tax papers you need.
2006-11-27 09:52:05 · answer #3 · answered by mrscmmckim 7 · 0⤊ 0⤋
1) Buying or renting a place
2) Equipments
3)Raw Materials
4)Display counters and other furniture.
5) Telecommunication system
6)Cashier register or scanner.\
7) Labor
Well everything is depends on location..If you like to start in New York City you need at least $ 300.000 Minimum.If money is not enough with you and if you have a real plan with potentiality go to http://www.sba.org and they will assist you to bring a Government loan-subsidy etc.
2006-11-27 09:48:27 · answer #4 · answered by precede2005 5 · 0⤊ 0⤋
Call around and get prices for your place,equipment, and paper plates,cups, napkins and plastic ware. Then call about you foods. salt , pepper, sugar, mustard,ketsup,cheese, hamburg, hot dogs and potatoes, plus the rolls. My sister started one and alot of people told her she couldn't do it in this small town. Well they were wrong. She made maga bucks. You could go to the www.gov.com and see about a small business grant. Some times there is a place in local towns that will help with grants. I think your local chamber of commerce could help.P.S. Check on line for you paper products, I know they are cheaper for weddings and social events, you may be able to find some for restraunts. Good Luck.
2006-11-27 09:52:20 · answer #5 · answered by ruth4526 7 · 0⤊ 0⤋
at least $200.00 just to start. But this is only for your equipment how about your monthly expenses. Think before you open a restaurant because this is not as easy as you think.
2006-11-28 01:04:00 · answer #6 · answered by linda c 5 · 0⤊ 1⤋
a lot its a big investment
2006-11-27 09:43:08 · answer #7 · answered by Anonymous · 0⤊ 0⤋
OH BOY....
IT WILL BE A FAILURE, I ASSURE YOU
YOURE WAY IN OVER YOUR HEAD...
2006-11-27 09:42:49 · answer #8 · answered by cryingrainbow 2 · 0⤊ 0⤋