How to Obtain Financing for Your Restaurant

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https://www.youtube.com/watch?v=eaPO66oqvlsAfter you've come up with a great idea for a restaurant, you're going to want to start thinking about financing. If you've got the cash this step is easy. If not, there's a few options at your disposal.

If you ARE going to use your own money, be careful. The restaurant industry is very risky so it's easy to lose money fast. If you decide to not use your own money, read on.

One thing you can do is create a detailed business plan to entice investors to exchange funding for a percentage of your business. If you decide to take out a business loan, be prepared to take on serious debt. Because banks don't typically lend what you ask for, you might want to settle with a lower cost business plan.

You may also want to consider buying into a franchise. If funding is limited, this would be a good way to get a foot in the door.

If you have a strong brand,  there's a chance you might be able to negotiate a landlord contribution when financing your restaurant.

Whatever path you take, you have to ensure you have enough funding to cover your start-up costs and any money you might lose on a slow day.

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Restaurant Industry Growth

Restaurant Industry Growth