Singing Pig

hi everybody

i came across a thread of experience in property investing and it was terrific..i am wondering if we can do the same with coffe shop,bistro,restaurant and you name it.

i am newbie and want to jump in catering business i would be very graetful to any one advising in star-up, financing i am looking to buy a runing business which mean buying goodwill and i know that banks dont go up 80% .any ideas about financiers?

many thanks in advance

Hi Salva

I'm suprised that nobody has answered to your thread but maybe this is a bit too downmarket for this site who knows there is a lot of property investment on here isnt' there. I have a great interest in property investment and really if the timing is right and the finances are in the right place with the right location and property you could always be in with a winner.

I have been interested for many years now in opening my own restaurant or coffee house I have experience working in this enviroment for many years and have worked in various differant establishments. I am looking into it again now as blundered on a chance back in 2004. I am getting feedback that its not a good time now to go into the catering business but then it all depends on where you are going to open it up what you are going to market including choosing the right decor.

I want this as I have the right personality for success but in this market none of us can know and its always a gamble.

I would really like some figures and financial advice too, I would like to know on average what its going to cost and how much one can expect to average on a montly basis. Not too much information to ask for but nobody seems to want to help.If I find out anything after today I will post again.I really do hope you will reply to this and maybe we can start exchanging ideas.

Look forward to your reply thanks Carolina

Hi Carolina,

As you say that you have worked in existing establishments, you could start by asking to see their figures (net income & costs). How busy are they? What is the footfall like, at different times of the day and year? What is the competition like? What are you offering that's different? Will you have staff? Are you considering buying premises freehold or leasehold? How much do you have to invest? To get finance, you typically need a business plan with projected income. Contact your local business link for help on this.

Take the time to read other posts in the relevant sections, i.e. Singing Pig » Business and Startups » Discussion

Have you considered a franchise?
http://www.singingpig.co.uk/forums/thread/105897.aspx 
http://www.singingpig.co.uk/forums/thread/382790.aspx 

Or an exisiting business?
Try Dalton's Weekly.

 
HTH. 

Hi Sonny

thank you for your reply thats a real great help every little bit of information helps. The place I have in mind is in the basement of a business with a bar above ,it was previously a greek restaurant they have been closed for 3 years for refurbishment ...they are doing it in greek time!   

They are really good friends of mine I have known them all of my life, they don't want to run it anymore as they have been doing it for 25 years.I have been offered it for rent. It won't be ready for about 6 months hopefully so I will do my homework to start with. If you have any ideas then let me know and I shall visa versa. I do know that if its not in the right location then it will be difficult to get off of the ground and also no matter how good the decor is if the foods not up to standard then people won't want to come back.

I just need to know the full running costs then the realistic amount of income its likely to make.Staff I will have my family to help me so won't have to lose out there on paying staff maybe just a chef but my brother is a chef so if he decides to come and help who knows I did it for him when he had a cafe and it was a lovely place with really good food but the location was wrong so he had to sell it as he didn't have enough income.

Lots of food for thought just need to get the show on the road.

Look forward to hearing from you

regards

Carolina