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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.
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.
Talk to other local businesses to find out how they started. You might also find out some other information you hadn't thought to ask. At least you'll be informed when asking for your money.
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.
Morning, How soon will you be opening this restaurant??
Do you have a location or site that already has a restaurant or will you be starting from scratch??
Do you have the equipment needed??
Have you written a BUSINESS PLAN, explaining your plans to develop a successful restaurant.
Do you have a banker?? and good credit??
The more you share with us, the better we can help you succeed and also answer your questions.
Good luck, LUCKIEST
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.
Contact me and I will provide a free phone session.Business is not done through question and answers.
Your entire strategy must be examined and the switch from consumer mentality to a producer mentality must come first.
Dont waste time and money.
The Business Mind