posted on Jan, 6 2017 @ 01:39 AM
a reply to:
slowisfast
Congratulations! Keep in mind food is a VERY tough business, I was a general manager and upper management and consultant in several restaurants/fast
food joints. The key is service service service, you can have mediocre product but if the service is phenomenal people will return for the experience
itself.
You will likely run a negative bottom line for at least a year, most likely 2, so be prepared for that. A HUGE mistake several new business owners
make is taking out an extensive loan out of panic. Don't do that. Unless you have enough capital to survive 2-3 years without a paycheck, you will
indeed have to take out a loan, just make sure you do it through a reputable lending source with fair rates, and ONLY borrow as much as you will need
to live on the bare minimum. I have actually known several franchisees to end up actually living in their establishment for periods of time when
rent/mortgage is no longer doable.
It's tough at the start, but extremely rewarding if you get over that initial hump. Keep your head up and always tell yourself it will get easier,
because it really will
Cheers to you