buying my own restaurant, where do i start?

Question

i have worked in catering for over 6 years now, i would like to know how to get started, costs and licenses involved & where i can get regular advise

Answer 1

hi, you have got loads of things to research before starting a business like that, but if you feel that you have what it takes then go for it!
business link should be your first stop for free expert advice http://www.businesslink.gov.uk/bdotg/action/home?domain=www.businesslink.gov.uk&target=http://www.businesslink.gov.uk/
see your local phone directory for trading standards to ask them about licencing.
the small business service may also be useful http://www.sbs.gov.uk/sbsgov/action/home?&ref=http%3A//uk.search.yahoo.com/search%3Fp%3Dbusiness%2Clink%26fr%3DFP-tab-web-t340%26ei%3DUTF-8%26meta%3Dvc%253DcountryUK&domain=www.sbs.gov.uk
and small business advice http://www.smallbusinessadvice.org.uk/sbas.asp
the health and safety executive website will be really useful for you http://www.hse.gov.uk/
and if you are interested in a short course for starting a business which you can do from home then see this link http://rebecca-swift.co.uk/courses.aspx
good luck with your venture x

Answer 2

If you worked in the buisness for six years then you should have learned a lot more than you seem to have.

Go gack to work and learn more. This time pay attention to who delivers goods and who the customers are and if the business is truely doing well or not. There are about another thousand things you should be aware of before you even think about investing.

Less than one third of the people that start a eatery ever make it. Most last a few months and then spend years working for another paying the debts.

Have fun

Answer 3

I think you start by asking people who've done it and are doing well. Ask as many as you can.

The easiest way is to buy something that's already established or at least fully equipped and up to code. The building/health inspectors can give you a list of the stuff you need and costs involved in permits, ie your reach-in/walk-ins need to maintain a specific temp., you need X amount of fire extinguishers and they need to be inspected, you need to hire a dumpster most likely and someone to haul off your grease if you fry stuff..
You'll need a fair amount of cash as a cushion while getting your footing and be realistic, only 10% of new restaurants make it out there........

Answer 4

Try getting some free advice and guidance from business link and national federation of enterprise agencies (see link), they also run courses, many free or subsidised.

You should have a lot of knowledge yourself - use your contacts in the industry, speak with suppliers, caterers etc. Check out "daltons" (online and weekly newspapers from smiths) for businesses for sale. Check out industry websites. Lots free info there. Good Luck

Answer 5

Speak to your bank and its competitors, they can give help and advice regarding business startups. They can also offer free banking for varying periods. A restaurant deals in cash which is expensive to bank so consider using Alliance and Leicester as they charge less for banking cash. This is a rip-off with most other banks.

The most important thing to control in business is cashflow. It is generally lack of cash which kills businesses not lack of profit. You need to do a detailed business plan, the most important aspect of which is the cashflow forecast. Your bank may help with this but you also may need some professional help.

Answer 6

I'd go to your bank and enquire about getting a small business loan! They can give you advice on how to set up your business. Then you need to go to a housing agent and see what is up for sale/to let. Good luck. I'd recommend Lloyds TSB personally.

Answer 7

first of all develop a business plan- contact your local SBA(small business administration) for help and questions

check out sba.gov

once you have a plan, then you get financing to buy, then you implement your plan

Answer 8

Well done mate, you've just bought yourself WORK!! its bloody hard work and time consuming..NOT as good as you think. the best advice is, rethink about it!