starting new buisness
10-27-2005, 02:07 AM
#1
0.5 BAR
Thread Starter
Join Date: Apr 2005
Posts: 147
starting new buisness
so i am thinking in a year or 2 i am going to start my own buisness it is going to be a small resteraunt that has bbq style menu ribs/chicken a few cold and hot sandwiches and i have ben a cook for the last 5 years so i am going to the bank tomarow to talk about what i need to do to get on the right track to compleating my goals..........here is my problem i have ben a COOK for five years and have trained many people and am a verry good people person but i know nothing of the paperwork side calculating yearly incomes etc. just wondering if anyone has any advice
10-27-2005, 02:12 AM
#2
1.5 BAR
Join Date: Jan 2004
Posts: 1,432
Re: starting new buisness
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money. 
there is a guy on here who ran his restruant, just can't think of his name, he could help
there is a guy on here who ran his restruant, just can't think of his name, he could help
10-27-2005, 02:19 AM
#4
Banned
Join Date: Aug 2003
Posts: 2,898
Re: starting new buisness
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money.
there is a guy on here who ran his restruant, just can't think of his name, he could help
there is a guy on here who ran his restruant, just can't think of his name, he could help
The key to success in the restuarant business is 2 things:
1) spend the extra $ for a busy location
2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest.
I have a lot more where that came from so just pm me.
10-27-2005, 02:22 AM
#5
0.5 BAR
Thread Starter
Join Date: Apr 2005
Posts: 147
Re: starting new buisness
yeah i have read the posts of who you are talking about but dont know his name ethier....around here in this part of oregon good food is hard to come by and authentic bbq is almost imposible my plan is to keep my overhead cost down as much as i can and serve good food at a reasonable price i am not looking to get rich but its better than working for someone else
10-27-2005, 07:57 AM
#7
1.5 BAR
Join Date: Aug 2004
Posts: 949
Re: starting new buisness
You could look for a local SCORE chapter in your area ( http://www.score.org ). They have classes and can sometimes do small business counseling and/or find you a mentor. That and your local Small Business Association ( http://www.sba.gov )
Most banks probably won't give you the time of day until you have a solid business plan.
But those are a fewthings to check out. I'd also consider getting an accountant. Doesn't have to be someone whom you deal with (and pay) every day, but someone you can talk to about financial issues and can help manage your money.
Most banks probably won't give you the time of day until you have a solid business plan.
But those are a fewthings to check out. I'd also consider getting an accountant. Doesn't have to be someone whom you deal with (and pay) every day, but someone you can talk to about financial issues and can help manage your money.
10-27-2005, 12:15 PM
#8
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Join Date: Feb 2005
Posts: 0
Re: starting new buisness
Originally Posted by LSD Motorsports
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money.
there is a guy on here who ran his restruant, just can't think of his name, he could help
there is a guy on here who ran his restruant, just can't think of his name, he could help
The key to success in the restuarant business is 2 things:
1) spend the extra $ for a busy location
2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest.
I have a lot more where that came from so just pm me.
i just set up an s corporation clothing company, and i have to submit a 941 to the irs by the 31st and i have no idea how to do any of this. any websites or anything i can look up? or are you just a soul proprietorship?
10-27-2005, 01:05 PM
#9
1.5 BAR
Join Date: Aug 2004
Posts: 949
Re: starting new buisness
Originally Posted by rawr
Originally Posted by LSD Motorsports
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money.
there is a guy on here who ran his restruant, just can't think of his name, he could help
there is a guy on here who ran his restruant, just can't think of his name, he could help
The key to success in the restuarant business is 2 things:
1) spend the extra $ for a busy location
2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest.
I have a lot more where that came from so just pm me.
i just set up an s corporation clothing company, and i have to submit a 941 to the irs by the 31st and i have no idea how to do any of this. any websites or anything i can look up? or are you just a soul proprietorship?
I would get a lawyer...
10-27-2005, 01:31 PM
#10
1.5 BAR
Join Date: Jul 2005
Posts: 1,463
Re: starting new buisness
The best advice I could give you would be to take a simple book keeping class. Usually one of the top reasons 95 percent of businesses fail is because they cant keep their books in order, or are doing them incorrectly and being penalized. It would be well worth it to look into one of these types of classes. Local community colleges usually offer such programs!!!
