Hi... I am planning to start a business but I don't have enough money to have a small start. I suppose to put up a mini restaurant and bar. Any idea on how could I find resources for my planned business?
Well I think since you don't have enough money for starting it you should make a loan. After you have some money you'll figure it out what you have to do next
What you can do is, try operating it from home (check regulations from wherever you are). If you live in an area near students live or alot of busy working adults, it will be great to do food deliver to them. Meaning you do the cooking, and then you send to them. I have a friend who does that, he operates from home. He sells burgers. And to make things interesting he gives his customer a variety of burgers to choose from and gives them free delivery if they order a certain amount of burgers. He only serves the area around his house and that is already enough to keep him busy to build a good capital to take his business a step further. Well, another option is, check with your local government. The place where i live, Government offers GRANTS for people who start an IT business. So its pretty good and im making full use of this opportunity given by the government, the only condition is that i will have to finish the project and provide some working opportunity for people in the IT line. The easiest way is usually making money on the Internet. But that requires alot of patience and perseverance. There's high competition, but it's still doable. Just never give up whatever you wish to do. Running a business is not an easy task, but to me its a very challenging task. Set goals and follow your goals. Its not the same as working for someone, where we have a fixed income, we just have to follow our company directions, we have seniors to help us out, when there's no work we still get paid, and so on. But if you're on your own, think about things like when are you going to make your next profit, from the profit how are you going to fund your business further and generate more income, if theres no customer you dont get paid, you manage your own accounts, and many more. But this takes you to a whole new set of rules to play around with and in the long run,you will definitely be richer than a person working for someone else. I wish you all the best and hope this helps.
Are you refering to an online business or offline, as you are talking about restaurants and bars? If it's online, then you will need to either make a website or pay someone else to make a website. If you don't have any money and you can't design/code then you might struggle to start off with unless you get some money in paypal by providing services or selling products.
hi... I'm Shinzo... It's good that you are planning to start a business. With regards to a start-up money, well, you could have some options like the following: Bank Loan, private loans or even an option to sell structured settlements, sell annuity payments, sell lottery payments, sell insurance payments and even personal injury settlement averages. have check it out and be ready to start your planned business. Good luck!
You can get government grants or loans. You can also get your friends and family to invest in the company. Depending on what your business is, you might want to look into getting an angel investor (look it up online). You can also look at the small business administration's 7(a) guaranteed business loan program. They support small businesses with guaranteed long term loans. They support start-up and high potential ventures. It might be hard right now to start up a business though because of the stock markets and loans being harder to get.
No angel investor will lend money for a bar/restaurant... What is it exactly that you want to sell? type of restaurant?.. You need a niche, it's highly competitive... 90% of restaurants fail within 3 years..
If you plan on opening a restaurant you'd better have experience working in or managing one. Most restaurants fail because the owner does not have the knowledge to run these, and are forced to rely on their employees too much.