ForumsStarting a Business

Mr. everything depends on financial statement or reserves that you have, always consider who stop to mount a business must count on his reserves and their personal expenses and thus to be able to make his decision whatever to invest, to request a loan to a bank everything will depend on their credit reserves and type of business .también makes a feasibility study of the type of business tries to obtain the premises already designed for the type of business thus its investment is smaller.

francisco herrera
Lic Mortgage Broker

You may want to contact your local SBA chapter as a start. If they cannot help you directly, they are aligned with tons of resources to help you get from point A to B. Many of these entites are FREE or low cost. SBA is usually aligned with 'Small Business Development Centers (SBDCs) that are a great resource as well.

Google "cost of opening a restaurant" for the answer. Roughly $100k is a good start. If you have enough credit cards you probably can finance it that way (though it's a bit more expensive).

Also MD is pretty well trafficked in vittles, so I would pick a good location or do a lot of research.

BTW, it's not true that restaurants fail more often than other small businesses--the failure rate is roughly the same for all.

Good luck girl.

Merle

I would like to open my restaurant a.s.a.p. I recently lost my job after 9 years due to the failing mortgage market. So I would like to ficus my attention on this since i consider myself still young, 26. I do have a location picked out already that used to be a chinese restaurant. I am in the process of writing my business plan. I've been doing my research on what it should entail. My credit is excellent and I was considering using my current bank which is Bank of America, but that's not a definite.