Any suggestions on finding investors to open your own small scale mom and pops Q? Has anyone here had good results from writing a biz' plan and applying for a small biz' loan?
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quote:Originally posted by Storm Cooker:
[qb]Has anyone here had good results from writing a biz' plan and applying for a small biz' loan?[/qb]
A business plan which includes at least a 12 month cash-flow is essential. Food service is considered high risk and will likely require the support of the Small Business Administration insofar as guaranteeing a commercial business loan.
Unless you have rich relatives, start by making an app't with the commercial loan officer at the bank you do business. You don't need to walk in with a business plan - he'll help you build that out. What you do want is a description of your business, your target audience, menu including prices and any occupancy costs you may have.
If you have specific question, e-mail me off the list.
Good Luck!
Thanks for your help. I'm sure I will have a question or two again.
You can try your local chapter of SCORE, which is Senior Corps of Retired Executives. I attended one locally here at one time and they had some good experience and it was free. They also have courses and educational materials.
Good lucj,
PrestonD
Good lucj,
PrestonD
Good call, Preston!