Restaurant business advice needed!

Discussion in 'Growing and Managing a Business' started by Kyle Winston, May 30, 2014.

  1. Kyle Winston

    Kyle Winston
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    Hello all! First time poster here. I wanted to start off my time here on this site (it will be plentiful) by asking advice on a restaurant business (franchised). I worked for 10 years for an owner of a Rosati's Pizza. He and I are looking to go into business and open more locations. Is it possible to use the original business as collateral? What venture do you suggest we go for funding? Does the SBA look positively on the fact that the business has been a success for over 20 years? Any comments or concerns would be greatly appreciated. If there is any more information you might need just post here and I will answer any additional questions. Any advice or help is much appreciated. Thank you all so much! Glad to be here!
     
  2. Aleena

    Aleena
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    Hi
    It's a good thing to expand your business I also suggest you to have your own website and create an app for your business just for your clients. It will also help you growing your business on the internet as well. Also if you own business people will know where your restaurant branches are and will be easy for them to locate your business. Since you have an experience I think it's a plus point. I suggest you advertise on TV and internet so that more and more people will know about your business.
     
  3. amal

    amal
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    You would have to purchase more Franchises if you want to expand under the same name. So it's up to you if you want to work under the same name. It would cost you more to expand in the same name because then you would have to pay some amount from your revenues every year or as per agreement with the actual company. Start your own restaurant and be innovative with the interior and have a great PR so that they would all expand the name of your restaurant.
    After that which is very important is Customer Service. People die to get good customer service. Help your employees understand that their first priority should be a customer.
     
  4. afia_kamran

    afia_kamran
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    Food business is one business that never goes into loss. SBA would be appreciative of your venture and will be facilitating you. It seems like a good idea to me.
     

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