I really want to start my own business but I'm not sure how to go about doing it. I want my business to basically be a small restaurant/coffee house. My mother made me a photo album full of homemade stews and crockpot recipes. I'm hoping that a "real food" diner will be more accepted since in a city REAL food is hard to find (especially where I am). I am really looking for advice that if the idea is first of all a good one and secondly where I can be directed to start this business. It will be from the ground up.
My dream is to have a place that you are more then welcome to come have something good to eat or just be able to sit and have a cup of coffee and read. Guess the only reason I want to start a new business is b/c I think that first of all it can succeed and I have trouble working for others so what better excuse to become my own boss.
Has anyone else just started new? I'm 24 - scared out of my mind - and excited! Thanks first of all.
2007-03-13 06:10:25 · 4 answers · asked by Faile 2 in Business & Finance ➔ Small Business
Your idea sound great. Translating it to reality requires thoughtful consideration to many things. You should develop a basic business plan that includes projected costs to open, equip, hire and pay employees and taxes, and a revenue projection as to how many customers per day and average income from their meals minus your costs which will give you net income. You may want to contact you Small Business Administration office in your area for help with this. They have seasoned advisers who will be very frank about what it takes from the planning stage, to the financing stage, location, equipment, suppliers, employees, and which type of corporation model you choose. You want to determine your break-even point in dollars and time, especially if you to apply for a bank loan. Banks ordinarily look at the worst case scenario so the better prepared the better the chances for a loan. You can go to Amazon and search for books but I think the best way is to talk to some folks who have been there.
2007-03-13 06:23:29 · answer #1 · answered by Joseph H 4 · 2⤊ 0⤋
You already got a good start (the passion for it) check with the S.B.A.{small business administration)they will give you the info you need,also a group called S.C.O.R.E. its a group of retired business people that will give you all info you need and they distribute money for the government for people like you and its all free. the main thing is to have a plan for your biss. to take to a bank when you get turned down from 3 banks. they will loan you the money you need if you have the money to start they will still help you in every way . Its not as hard as it sounds they help people that know nothing about business.Good luck my friend and trust in god you will succeed
2007-03-13 06:39:14 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Why must it be your own business to start? Why not approach a diner and work a good deal. Prove your idea before you roll the dice with lots of money.
2007-03-13 07:07:22 · answer #3 · answered by stonerosedesigndotcom 3 · 0⤊ 0⤋
read tips on small businesses, investing, loans, and much more to help you plan on this site
2007-03-13 06:20:05 · answer #4 · answered by tuff luv 3 · 0⤊ 1⤋