How to Start Up My Own Unsponsored Restaurant
- 1). Create a business plan for operating a restaurant with as few employees as possible, and you can expand as sales increase. Your business plan keeps you focused on your financial investment and relates to your restaurant's profit.
- 2). Arrange your financing or operating capital. Lending institutions will require a business plan as well as collateral when extending loans for new accounts. Shop around for a business loan with an interest rate low enough to suit your needs. Whatever the source of your financing, you must have adequate cash on hand to meet daily operating expenses.
- 3). Target a location. Choosing a high-traffic area will optimize your profits. After choosing a specific locale, visit three properties you consider ideal and then make your selection.
- 4). Collaborate with your accountant; your new restaurant business needs to be registered for state and federal identification numbers, and that falls within his domain.
- 5). File an application for a business license at the office of the city clerk in the city or town whose jurisdiction covers your restaurant's location. Visit your state's Department of Health office and submit a request for a restaurant permit.
- 6). Enlist the help of your insurance professional and develop an insurance plan that includes coverage for all aspects of your restaurant operation.
- 7). Interview employees for restaurant positions. Understand that a better-than-average pay scale will attract a better-than-average job applicant.
- 8). Display your restaurant's license and permits in a prominent place as soon as they arrive in the mail. Open the doors to your new restaurant and greet your customers.
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