The Business Startup Guide

Discussion in 'Finance, Investing & Economy' started by speedcake, Sep 30, 2005.

  1. bostonsoccermdl

    bostonsoccermdl Moderator
    Staff Member

    Apr 3, 2002
    Denver, CO
    Sure, we are looking to build a sports bar/restaurant in the greater NYC area. We think we might have nitch b/c they are developing the area rapidly for various reasons, and are putting in various forms of entertaiment around including many apt. units.
     
  2. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States

    Cool. I always wondered what kind of profit a well run place like that could earn.
     
  3. OmiKell

    OmiKell New Member

    May 2, 2004
    Tarrytown/Luxemburg

    Do it in Paris (where none exists yet) and I provide the legal structure
     
  4. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    I doubt the SBA would give you 2-3 mil.
    I think your best bet is, to collect as much as you can from investors (say about 200 or so) then approach the bank or an investment firm with a very solid business plan. With good credit and equity, you can get that loan.

    Im roughly on the same path, done a few smaller projects, yet it just gets a lot more complex the bigger you get. I think the key thing here is if you have done any kind of business or are currently running one that helps a lot in the approval process.
     
  5. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    I agree. That is a serious investment for the SBA, I'm sure you'll need some private investors.

    Does anyone have some advice on finding wholesale prices? Any online resources where I can find more info would be cool. Any good message boards, etc where I might find some help?
     
  6. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    This is a good forum to getting your feet wet.
     
  7. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    thanks, will check it out.
     
  8. Dammit!

    Dammit! Member

    Apr 14, 2004
    Mickey Mouse Land
    Start thinking about a legal structure because that will most likely need to be done before you even go to a lender.
     
  9. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    There is a whole hell of a lot that needs to be done before you ever even think about approaching a lender, legal structer among them. It should all be clearly laid out in your business plan which means it should either be in place already or be outlined clearly as to what it will be when in place. I'm pretty sure before you actually GET any money it should be in place, but to make the pitch is that necessary?

    Solid business plan
    Cleaned up/good credit
    Great presentation and attitude
     
  10. Dammit!

    Dammit! Member

    Apr 14, 2004
    Mickey Mouse Land
    I'm in the legal field and know just a little about starting a business, but if you're incorporating, the corp entity will have to sign loan agreements, etc.
     
  11. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    I wasn't challenging you! :D I only wondered if in order to approach any potential investors (from a bank to father in law) you must have the legal structure in place. I take this as a big yes. Thanks.
     
  12. Dammit!

    Dammit! Member

    Apr 14, 2004
    Mickey Mouse Land
    Oh! no. That came across wrong.

    I meant, I'm in the legal field and really don't know much about the business aspects of it (mainly the legal aspects).

    Sorry, sloppy writing on my part.
     
  13. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    It's cool! and Hmm, after reading this I don't know if you can answer some of the questions I had in my pm I just sent you. Hopefully you can, though. All advice and help at this point is invaluable for me.
     
  14. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    AHHHHHHHHHHHHH!!!!!!!!!!!!!! ALSDfOIDFLJDLFJASDFKJOADJOFJAODIfw!!!!!!!!!



    I just had to get that out.
     
  15. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    Did you have a stroke or something
     
  16. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    No. just the stupid list of stuff to do, info to request, problems to work out never seems to get smaller. In fact, it just keeps getting bigger.
     
  17. OmiKell

    OmiKell New Member

    May 2, 2004
    Tarrytown/Luxemburg

    Did you try it? Ain't like a pyramidal deal?
     
  18. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    Yes, referal type business. Total crap.
    The forum is basically a bunch of people looking for the same thing, ways to make money off of others, however, the majority of the posters are quite informative when it comes to anything financial. So its a good place to ask questions and see what they think.
     
  19. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    Yeah, I figured this out. Not exactly what I was looking for. :D
     
  20. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    Sorry :eek:
     
  21. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    Dammit! you are with pm
     
  22. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    Quick update:

    My analysis is really starting to roll along now. Finally finding reliable wholesale prices and alot of other "numbers" info that I need. I still don't know how long it will take from this point until I start the ball rolling towards actually launching, but I feel I am alot closer as of today.

    I'm also getting a better bead on just how much start up capital I need. It is less than I had originally anticipated, but still a whole lot of dough for somebody who doesn't have so much to start with. :D

    back to the grind.
     
  23. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    Hey now. Had a nice hour and a half long chat this evening with a rep from a major distributor. Got lots of questions answered and loads of good advice. And the ball picks up a bit more momentum. yay!
     
  24. bostonsoccermdl

    bostonsoccermdl Moderator
    Staff Member

    Apr 3, 2002
    Denver, CO
    I always heard when it comes to planning a business, etc always expect on unexpected costs, as they almost always creep up. It is better to assume this, than get caught off guard. Just dont get a false sense of security.

    just my .02..
     
  25. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    Yeah. Managing your capital is pretty important in this respect. IOW, don't invest it all, keep a good bit of cash in reserve to help out when these situations jump up.

    Good planning, thorough research, etc. Hopefully will keep the suprises to a minimum, but I do expect "challenges" now and again.
     

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