I'm thinking of opening a restaurant. What should I do first?

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coolbreeze44105

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My wife and I are talking about opening a sandwich and coffee shop. What should we be doing to get ready?

We have a simple menu, a potential supplier, and a marketing hook. We have about $10,000.00 to invest and we have a general idea about the location. What should we look out for? What permits will we need?
 
Start with your business plan. This will give you a good idea what direction to go in, when to do it and how. The business plan will guide you into researching and investigating all required permits, location, insurance, supplies, vendors, utilities, point of sale, how to form your business (such as sole proprietor, LLC or Inc.), accounting methods and software, taxes -- and who to hire such as attorneys and CPA's.

When we started thinking about our business two years ago, I found a wealth of information at the Small Business Administration website -- the IRS also has good information. We also talked to others in the field we chose, and were pleasantly surprised they were so forthcoming in their advice along with challenges and triumphs. These other companies have become invaluable mentors for us!

Best wishes with your restaurant.
 
First off: Permits. Call your county health dept and ask them which ones you need. (every community has their own codes which must be followed.
Second:Location is right. do your homework so see if people will even go there.
Third: have adequate parking.
Check into credit card fees (how much the card companies cost to use them)
Fourth: Check with restaurant supply comapanies to see what utensils, cookware and supplies cost.

Good luck!
sm
 
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