Your Questions About Investing In Restaurants

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Thomas asks…

How do I get people to invest in my restaurant?

I want to start my own restaurant and I’m very serious about this. How do I get others to invest in my restaurant, so that I can start now? And WHO would be “the people” I’d ask to invest?

Justin answers:

Ask family and friends. You can also use a Peer to Peer site to raise money but your have to apply and pay back your loan such as Prosper or try your local bank. Practice your cooking and menu. Location, Location, location is vital. Look to see how much rent will be along with coming up with the equipment and supplies needed for your restaurant such as tables and chairs to cooking ingredients.

If you want to start now it’s really catering and going from small business (or working to gain experience) to your own restaurant. Do takeout ordering now and deliver to office, weddings and homes. Having clients now will payoff to restaurant customers in the future. Good luck!

Steven asks…

What happens when someone invests in a restaurant?

Do they get paid double the money they put in? Or do they just keep getting money from the business?

Justin answers:

Whether or not its profitable depends on alot of things, including if the restaurant is near a mall or somewhere busy, if the food is an Italian cuisine or like an American cuisine, how much the food costs, and if it offers Take out options.

Then you have to hire a kitchen culinary chef, and atleast one more other manager for when you take days off. Everything costs money, including inventory, meaning you have to hire the best servers as well because customers do send undercooked food back and thats wa$ted product AKA money.

Most of the time, chain restaraunts do fairly well, but ofcourse the most successful prone ones, cost the most money to run. To get to the point speak with an financial advisor, and they’ll tell you the serious risks involved.

Paul asks…

How to get investors to invest in my Restaurant Business?

MY concept and idea of a Restaurant is very sound,If i have a suitable investor i would be going great guns in a small amount of time.

Justin answers:

A restaurant sounds like a very good idea of a business.. If you want investors maybe you should start asking your friends specifically rich friends to invest and if you have convinced them you can then ask them to ask their friends to invest as well..that way you are not the only one who works in looking for investors.. In this opinion you can gain more investors in a short amount of time..good luck in ur biz..

George asks…

What would be a captial investment for a sports doctor?

Give an example of a capital investment in your field of interest. For example, a restaurant may invest in a new food warmer, or a school may invest in training for its teachers. Explain how you would expect the investment to affect productivity and growth.

Justin answers:

Assuming that you’re not counting the initial investment of a medical school education, a sports medicine specialist would have to invest in continuing education to learn about advances in sports equipment and the types of injuries they cause and prevent, as well as new treatments.

Chris asks…

I invested in a restaurant business to collect taxable income or dividend from it. Can i deduct those expenses

Justin answers:

If you invested in a business, no you can’t deduct the cost of the investment. If it’s your business and you bought items for the business, you probably can.

William asks…

How do I find restaurant owners who are looking for partners or managers to improve their operation?

I am a very experienced restaurant manager for a very big and very popular restaurant chain but after 11 years of service, I want to put my talents to work for me and a partner and team up with someone that already has an operation but does not know where to drive it next. This person could be from another profession but has invested in a restaurant or some similar situation. How do I make contact, or facilitate this person to make contact with me?
I am on Linkedin already

Justin answers:

Hi I know that over 80% of restaurant are struggling to make a profit and there is plenty of medium sized restaurants who are looking for a working partner I myself have never liked the idea of a business partner . In your case you need to find a fully experience Chef who would be interested in a partnership , you should be able to find an exciting restaurant for sale, or a chief looking for a business partner in the catering press.
Cheers
Bob a job

Michael asks…

Denial of Liquor license after investing a lot. What can I do?

I signed a lease last year. Once the lease was signed, I started the liquor license application process. While the application was being processed , a large amount of money was invested in the building and construction of a restaurant and bar. The license was denied about five months ago and the Alcoh Beverage Control bord has not issue the reason yet. What can I do?

Justin answers:

What state you are in determines your appeal process.
There is someone above the ABC who can over rule their decision.
If you meet all of the legal requirements how can they justify denying the permit?

James asks…

should i invest in a restaurant with 6k?

Should I invest in a restaurant with my sister with 6k or should i get a place for me and my girl to live in? please help? My sister want to open this place and they’re selling it for 25k with walk in fridge and everything. I have 6k and they probably have a few grands too… but that’s my grant money. Should I use that to rent a house 1200 ish per month rent or should i invest? thanks!

Justin answers:

If you can spend 1200 per month on rent, you might be able to afford purchasing a home (depending on real estate prices where you live). That 6k might be better spent as being saved towards a downpayment for a home. Homes are the single most important purchase you can make because of the equity you can build in them.

I know you probably want to help your sister, but you need to evaluate how determined she is. Does your sister have a business plan? Is she able to secure a business loan or grants to start her business if necessary? Is she experienced in owning and operating restaurants?

Try to be objective in your decision making. Business is business and family is family.

David asks…

anyone want to invest in restaurant ?

hi, i’m a sous chef in a renowned restaurant in portsmouth, i have 9 years experience in kitchen, i come from malta … now i want to open my restaurant but i have no money. is there any one interested in investing in a restaurant… with my ideas the restaurant will be a hit in no time .. we split 35 % for me 65% for the investors… the food will be a variety and all the maltese delicacies maltese bread, cheese cakes etc…( if you’ve been to malta you know what are they )….anyone interested please feel free to contact me for a fully detailed packege and menu of the restaurant… cheers

Justin answers:

Dear friend…
Very impressive. Fine. Iam interested to invest on this. Please revert me in detail. I.e how about our contract/ terms & conditions etc. Bcoz in this modern world its very risky to deal reg financial matters even with known friends/relatives. Whereas now if i have to invest trusting a stranger, ofocurse i need some supportive infos/documents. Iam ready to invest. Let me know the budget too.
Rgd/ mani

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