Apr
27
I’m thinking of starting a restaurant in a food court.is it worthwhile to buy a shop or lease it?
By
I’m getting a good deal on a 333 sq ft place? what kinda operational capital is required apart from the cost of the shop?
The lease is a minimum of 3 years and i don’t wanna be tied down in one if god forbid the rest. fails to pick up!
Passive Income
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3 Comments
March 8th, 2010 at 4:06 am
If the business is already there and is up for sale you could do that because you would already have every thing set only to pay for and start , but other wise you would have to get set up all requirements before you could start, in a food court you would have to pay some kind of rent or lease however.
March 8th, 2010 at 12:04 pm
Please be smart and take this advice, lease for a year to see if you’re restaurant is going to make it, God bless you if it does i hope it does for you, then re-up you’re lease with the op to buy that way” if God forbid” something would happen you have the chance to get out before you loose every thing.Good luck and please let us know how every thing goes and give us the address that way if we may be able to get there we could stop for a bite to eat. Good luck!
March 10th, 2010 at 4:13 pm
3 year lease on a restaurant is insane. I was in the Restaurant Biz for about 20 years, I was a Chef, I still am a Chef, but I am retired.
Restaurants are a gamble. A very big gamble. Most successful Restaurateur I ever worked with never planned to be opened more than 6 months. I opened and closed 5 places of business with him and his wife, they retired as millionaires. He was flat broke and bankrupted like 6 times, but he came back and we would do it again.
One man and wife I worked with owned a place on the beach, they were there for 15 years, he sold it, retired and is now a millionaire.But it was his 4rth Restaraunt, and he only had that building as an investment, the open a restaraunt there idea came after the purchase,not before.
Maybe the 3 year lease is a good thing, I have no idea if your Restaraunt will be a great success or a grand flop. Here is a gauge to by, Get a three year old phone book, look in the Yellow Pages, Restaraunts, get todays Yellow Pages and compare them, I can almost garuntee that 1/4 of the 3 year old restaraunts are no longer there.
If it is your dream, then go for it, be happy, have fun, and enjoy life. Nobody knows the future. If they say they do, laugh along with them.