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  1. #11
    Location/size? What's the rent going to be? Will vendors give you 60 day credit? How many years have you worked in the industry, and how recently- that's going to be more important in getting a good staff. I think our first location did it with only 200,000 but that was small, in the Midwest and we got into trouble not paying vendors the first year.

  2. #12
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    Location not sure or size not sure hoping to take over a former restaurant to save on equipment costs...what is the common rent for a restaurant NO Chop how much do you pay? worked in the industry for like 5 years graduated from culinary school pretty recently I have 2 people in mind one guy from culinary school that was on the same page as me and a GM for the front of the house we already runs a restaurant and is quite the culinaire if thats a word I think I can make a good relationship with vendors for Meats and Seafoods and Produce but paper products not sure how those bigger companies operate

  3. #13
    Senior Member DeepCSweede's Avatar
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    I am well aware of the risk and also how Murphy's law rears his ugly head and doubles everything, that is the underlying factor in why I haven't pulled the trigger on it. I definitely would want some side capital in place, if nothing else have that capital invested in the building so at least the investor capital is secured. The good thing with that too is that the price on the building really can't go any lower, I can pick it up for about $300,000 under fmv.

  4. #14
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    not bad especially if you buy it

  5. #15
    Senior Member NO ChoP!'s Avatar
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    Lets say we have 600k sales per year. A perfect world would allow for 10% profit, so 60k a year profit, hypothetically...

    That's six years, not including interest just to pay off the initial investments.

    And the restaurant world is not a perfect world, let me tell you....

    Now, how many restaurants are around for 8 years or more.

    Do it for the love, never for the money....
    The difference between try and triumph is a little "umph"! NO EXCUSES!!!!!!!
    chefchristophermiller@yahoo.com

  6. #16
    Senior Member DeepCSweede's Avatar
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    The land alone could be redeveloped, so it has good value.

  7. #17
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    I am not doing it for the money whatsoever I could really care less about that as long as I can provide for me and my own I am alright with that

  8. #18
    Senior Member NO ChoP!'s Avatar
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    To answer the question on rent.

    It really depends on location. If you can find an up and coming spot, you might get a bargain. A hot area can cost double or triple. In the area we are in, rent for a typical 2000 to 3000 square foot space, which is small for a restaurant, can run $2500 to $5000 a month.

    Also, no vendor will give credit upon opening. Your initial inventory will be COD.

    Being handy can save you a fortune, as well.

    We had a fair amount of equipment that we leased to own. We also spent a penny on new stuff....
    The difference between try and triumph is a little "umph"! NO EXCUSES!!!!!!!
    chefchristophermiller@yahoo.com

  9. #19
    Senior Member turbochef422's Avatar
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    Quote Originally Posted by NO ChoP! View Post
    Lets say we have 600k sales per year. A perfect world would allow for 10% profit, so 60k a year profit, hypothetically...

    That's six years, not including interest just to pay off the initial investments.

    And the restaurant world is not a perfect world, let me tell you....

    Now, how many restaurants are around for 8 years or more.

    Do it for the love, never for the money....

    those are the numbers that talk me out of it every year... I can just take my 100grand and be happy working for someone or...

  10. #20
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    I have an aquaintence who designs and builds brewery equipment. If you are interested in speaking with him about ballpark costs for adding a brewery operation to the restaurant shoot me a PM and I will give you his contact info.
    __________
    David (WildBoar's Kitchen)

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