My wife and I would like to start a lounge/restaurant - how would we go

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slosco

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about planning for this? It has been a long time dream of my wife and I to have an entertainment/lounge/restaurant venue. We both come out of that world as employees and saw some of the things that we would do better if we had our own establishment....how do we get started? We don't know the first thing about writing a business plan or how to raise capital for a venture like this......
 
Do you have experience working in a lounge or restaurant, particularly in the field of management? Or will you have a partner who has experience working for a restaurant?

The reason I ask is that when you apply for a bank loan, even SBA loan, the first thing the bank will want to know is your experience and knowledge in the industry. If you have no knowledge about the business, they have lesser confidence that you will succeed, and therefore not give you a loan

Here are some sample business plans that you can use

Sample Restaurant Business Plan (steakhouse) http://www.bplans.com/spv/3228/2.cfm
Sample Restaurant Business Plan (organic restaurant) http://www.bplans.com/spv/3259/index.cfm

You may consider the following resources (not free):

Palo Alto's Restaurant Business Plans http://www.bplans.com/st/restaurant.cfm
FabJob.com's Starting a Restaurant Business http://www.fabjob.com/restaurantowner.asp
Entrepreneur.com http://www.smallbizbooks.com/cgi-bin/SmallBizBooks/00047.html

Associations are great resources as well

National Restaurant Association http://www.restaurant.org/
National Restaurant Association Educational Foundation (they have excellent training courses for restaurant owners) http://www.nraef.org/
Your state restaurant association (e.g. http://www.ohiorestaurant.org/ , http://www.azrestaurant.org/ , http://www.parestaurant.org/ , http://www.nmrestaurants.org/

If you want in-depth information, I suggest you check out the following books:

The Restaurant Business Start-up Guide (Real-World Business) by Paul Daniels
Opening a Restaurant or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan and Feasibility Study by Sharon Fullen
Start Your Own Restaurant (and Five Other Food Businesses) (Entrepreneur Magazine's Start Ups) by Entrepreneur Press and Jacquelyn Lynn
Start Your own Restaurant and Five Other Food Businesses (Startup) by Jacquelyn Lynn

The source below lists more resources in starting a restaurant
 
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