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Showing posts with label opening a restaurant. Show all posts
Showing posts with label opening a restaurant. Show all posts

Thursday

Commercial Convection Steamers

Commercial convection steamers will help you in your high production kitchen most especially for your restaurant banquet business. Banquets of all sizes will boost your sales and profit in a big way and should be part of your overall plans to do business. In order to effectively handle banquets in any size, you'll want equipment that helps you cook for large groups in large volumes efficiently. Steamers can  help you cook two pans of potatoes to serve 50 people in about 7 minutes compared to an hour in an oven. They're a huge time saver and will be worth every penny. Convection steamers are great for any vegetable, roots, cooking fish perfectly or to reheat saving you time and space in your kitchen. Consider all the weddings, rehearsal dinners, pharmaceutical dinners, anniversary dinners, graduation dinners, birthday parties, class reunions and all other groups that want to get together for a great dinner party and you can have a piece of that business with the proper commercial equipment.  Here are our favorite convection steamers that we recommend you buy for your restaurant:

Don't quit your day job!

Just a quick note today as I continue working a restaurant! It's busy and sometimes although I'd love to be posting here to help you, work is necessary at my business.

That's the point I want to make today, don't quit your day job.... just yet!

There will be plenty of time to get your restaurant up and running and there's much to do before you actually get there so, for the time being you'll probably need to keep working to keep your income growing. That will only help you with more money down for your own loan or to assist your investors. Oh, and of course to keep paying your own bills on time.

How's everything going so far? Hope you've taken some of our advice already given and started working on it.

I'll try to get back here before the end of the weekend, we need to get your business plan in place and that the next section that we'll be discussing.

So, back to work I go and hope you'll be doing the same.

Until we meet again, thanks so much for reading and I appreciate your comments and plan to help you get started in business soon.

Cheers!!

Wednesday

Check your Credit Report

Just a quick post today to let you know if you don't already, that you should definitely check your credit report before you make any appointments to meet with any type of lender for your new restaurant. This is a necessary step to getting a restaurant financed through anyone as they will want to make sure that you are current with your bills and pay on time. Start now to pay everything on time and learn how to get a free credit report.

You can get a free credit report every year by going to creditreport.gov. If you need more than one per year you will be charged a fee of $15.00 each time you request your report.

Once you get your credit report, let's take a look at what you want to check. Your lender will also get a copy of your report so, it's a great idea if you already know how it reads before meeting with the lender.

     Here's what to look for on your credit report and how to make changes if needed:

Friday

Commercial restaurant equipment

Just a quick word about the equipment you'll need for your new restaurant.

Before you go out and start buying restaurant equipment, you must know that you will be required to have all commercial grade equipment installed in your entire restaurant. That includes your restaurant kitchen, your bar and your service areas.

Many people are unaware of this and begin to accumulate equipment that maybe they've used in their home such as a microwave, coffee maker or toaster. These appliances simply are not made for continued use day in and day out and for long extended hours as you'll be working in your restaurant.

The Board of Health, your Department of Revenue and the Liquor Control Board as well as the Fire Department for your state, no matter which state you live in, will not approve your restaurant without

Wednesday

Financing your restaurant

Before you get too involved with starting a restaurant, you need to understand a few key concepts in regard to financing.

Do you have the funds in cash yourself to open your own restaurant? Most or at least many people do not and must rely on financial assistance to get the ball rolling. If you are going to need some financial help, let's take a look at where to find the financing for your dream restaurant.

Banks
     Banks are typically very large institutions and they do have a lot of money so, you may think that the first place to go would be a bank, right? Understand that banks don't want to be in the restaurant industry and most restaurants fail within the first 3-5 years so getting a bank to lend you money for your start up is probably the most difficult way to go. Oftentimes, banks are also so large that they may be too busy to get to know each of their customers as well as their corporate offices aren't located in your town or city and all the paperwork and decision making could happen at the corporate office. That's not always the case though and many banks are trying harder these days to get more in touch with their customers.
     If you already do business with a large bank, keep your accounts current, up to date, pay all your loans on time and make friends with your banker. Don't lose hope and think that there's no way you can do this without a bank, there are other options and you just might end up with a bank after all.

Private Financing
     There are private financing individuals or companies that lend money to start up businesses and this could be a viable option for you. Some of the best places

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