From the article: Get Financing For a New Restaurant
Unless you are independently wealthy (lucky you!) you probably had some sort of financing to open your restaurant. What did you use? Small business loan? Second mortgage on your house? Did you recruit investors? Share Your Story. How did You Finance It?
- I have prayed a lot and drove by a closed restaurant for several months. I decided after praying to call and see what was going on. The owner said he wanted to lease it so I worked out a deal and I will be moving in shortly. I didn’t get any financing as the place has everything from pans to salt shakers and linens. For the first and last and one weeks operating cost plus insurance and permits, I got a loan against my truck. I also have a comedy group that has done several shows that has helped me. Steak and Seafood can not be beat not another place like it in town and we have a dinner show each night.
- —Guest Terry McCulloch
how did i finance my restaurant
- since the inception of the NCA (National Credit Act)in SA.finance was not easily accessible.We build our restaurant on our own property and used 70% recycled building materials and bought 2nd hand equipment.we finally got the business going after a year of putting things together.We now owe no-one for loans and want to encourage people to be patient and find the alternative.You can make it too.Success to all.
- —Guest mike
How Did I Open my Restaurant
- I didn't finance my restaurant. No one was willing or able to help us. So, we took what little we had saved, sold most of our furniture, jewelry, decorations, etc. and used the money to open our restaurant. We negotiated a deal with the landlord to lower the rent and we purchased all our restaurant equipment and furnishings through Craigslist. Our decoration came from my home, as well as, paints. We recycled as much as we could from the previous restaurant. We did all the cleaning, painting, decorating ourselves - no contractors or anyone else. We worked day and night to open ASAP. We hardly slept, or even ate, but we did it - my husband, son, daughter and myself. I researched high and low on the internet for all our corporation other legal documents. Advertising was done by us directly by handing out flyers throughout a 5-mile radius. I'm proud to say that we've been open for 3-months and it gets better every week. My advice: Don't let nothing get in the way of your dreams.
- I wanna open restaurant. give information from management restaurant until all receips. example rice organic until seafood. thank u very much about it. vera best regards
- —Guest VeraROS