Looking For Funding.

[Harryhausen]

I wish to open an Irish type Pub in Northeast Ohio, Wayne County specifically. I have all the experience in runnning restuarants and kitchens. I know the area well and have built a somewhat loyal following. My huge problem is money. I have none. Where does one look for capital to open a place? Can you get a bank loan? Should I look for investors? I would like to have a partner or 2 but would like to have all the say in the restuarant. Am I crazy?

[JewelsQ]

Welcome to the forums, Harry. If you do a search, you may find numerous postings on funding, as I recall.

I do not have any answers regarding partners in restaurants, but I'm sure someone with much greater knowledge will be along soon.

[LisasGourmet]

Congrats! The first thing you are going to want to do is write your business plan. No one will even think of talking to you about money without it.

Check into your local Small Business Development Center for assistance with that.

Also, the SBA will not guarantee a loan without you having a monetary investment into it.

Good Luck!

Lisa
www.allthingscheesecake.com

[MONEYMAN]

How much are you investing

[jonesg]

HAs anyone said " you have what it takes, I want to invest in you, I want to be your partner".

To be responsible you have to have savings.

I got an SBA loan . You need at least 10K cash in order not to look stupid with them, (I borrowed that too.)

You can do it but be a little realistic about control.
the golden rule is he who has the gold rules.
And you lack gold.

[bbally]

have a partner or 2 but would like to have all the say in the restuarant

You had better be the majority of skin in the game if you want all the control. It is a decision made by whose money is at risk.

If you have no cash to put it, then your best bet is to look for an entrepreneur in your area that was successful at a different business. A lot of them are usually green enough to invest like this where they hand over the dough and don't mind the shops performance. Plus they like having a table and no bill to entertain their friends.

But anyone we experience is going to be looking at skin in the game when they decide how much control you will have. As Jones says, those with the gold makes the rules!

You might look into a franchise. A lot of corporate franchises have financing that comes with the deal. But again you will have to scrape together a chunk of money for most of them, just not as big.

You might contact Sproonbread from Texas on these boards, I know he runs in some of the consulting circles as I do, and I think he built a pub or two down there in Texas. Search the name and send him a pm.