What are some good ways to make startup capital?

Question

I'm looking to open up a bar/lounge, but have no idea (1) how much money I'd need to open it up and ready it for clientele and (2) how I'd get my hands on that much money, stuck as a temp. Does anyone have any advice for me?

A business plan deerrrr what is taaht? No need to be a smartass, Mr. Standard of Excellence. What useless answers. C'mon, can anyone answer my question seriously?

Answer 1

Here is the best piece of business advice I ever got.

Do a business plan now. A complete one. If you do it right, one for a bar will be between 60-100 pages, maybe more.

Then you will know how much money you need, permits required and what it will take to get them, the costs to renovate an existing building or build new, what differentiates your bar from all of the others, and why people will choose it over others.

Who is your target market? Who is the local supplier for beer? Who supplies the liquor? What will you have to charge to cover rent, lights, cost of goods sold, and still make a profit. What are you going to pay employees? How much is insurance (you will want a lot for a bar)?

There is a lot of work involved in developing a business plan, but if you don't do it, your chances of success are almost zero.

Answer 2

You need a business plan. 40 pages around that mark. Anything more is too long, and anything less is too little. I suggest you look at www.sba.gov if you don't know what to include in a business plan. Also, research can help. You can do research on other bar/lounges. See how profitable they are and how much money they're making. Then, with analysis you should have a better idea of how much it takes to run a bar/lounge. It's the working capital needed to run the business. Secondly, I'd recommend a partner to help you in that. It's a grueling process and you're going to have to do a lot of homework of what's needed to start and operate the business. Therefore, a 40 page business plan will develop. It will take time, but you really need to focus on your idea and how you can make your business plan attractive to partners, investors, bankers, etc.

Answer 3

The first thing you need to do is make a business plan. A business plan will help you decide how much money you will need, the location, competitors, and much more. When you have your business plan, you than need to see if you could qualify for a business loan. sba website is a good place to start at because they also have software to write a business plan and other resources you might need. I will also try to go to the bank that you do business with. Make sure you don't give your social security number to all the places you check out. They will sometimes force you to give it to them, but just start by asking for the qualifications and interest and see if they fit you.

Answer 4

Prepare a business plan which should list out what are the equipment required and ge quote from compnies and prepare a sales forcast and submit to the bank for financing. No banks will lend you money without proper business plan

Answer 5

if your fico score is good you can get it. If not you better own a house or some kind of equity. Other wise you are pissing in the wind. Find investors if all else fails but put it in writting and who and what the responsibilty of repayment will be. Good luck!! BARS ARE TRICKY! was business owner myself!

Answer 6

I dont no how much u need, but i no that u should go 2 a bank to get a loan

Answer 7

Obviously you havn't written a business plan. Perhaps you should consider staying where your at.

Answer 8

Sell your things that can generate some cash for you. Maybe ask family or friends to be "silent partners".

http://www.handlethetruth.net

Answer 9

if i were you forget it, unless you wanna end up sleeping the streets

Answer 10

I don't know.