/biz/ - Business & Finance

>>16843426
>Where to buy cheap food?
China
Shipping can take months but if you’re organised I know you can make it work oppie.

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Do not include restraunt in the name of your business, for the sake of God

>>16843474
what do you mean?

>>16843453
Do you know of any places that have food from china besides maybe some chinese food?

>>16843426
don't do it OP, it will be the worst decision of your life

the only way it could possibly work is if the landlord is so desperate that you can get some insane deal on the rent and also if you have the ability to do much of the fitout yourself (to a professional standard) to minimise outlay

>>16843426
> workers stealing food and products all the time.
> wage theft all day everyday
> staff and customers breaking dishes/glasses
> workers constantly fighting/yelling
> low profits
> high operational costs
> bad reviews absolutely fuck you
> constant hiring/firing necessary

I've worked in restaurants for 5 years and sympathize for all the managers.

>>16843426
Start your own business dude, but definitely not a restaurant.

Follow anon's advice >>16844236

The only reason to start a restaurant is if food is your sole life passion. It won't make you money.

>>16844236
Yeah I guess i'd have too look out for those things, I'd probably be there most of the time. There won't be dishes.. it's a drivethru place.

>I've worked in restaurants for 5 years
how many employees did they usually have on at a time and about how many customers you think? Do you remember any of the numbers from any of the places like expenses and income?

>>16844536
The reason why I pick a restraunt is because my area is growing and there is no italian food besides pizza joints. Also because a burger joint just went out of business and it would be a perfect location. An expensive italian place wouldn't work just because the market isn't here for that but there are a lot of trailer parks.. It's not that i'm passionate about food but I am passionate about creating a business and it seems to be a low start up...

Why is it do you think a lot of restraunts fail? It seems to be one of the more common failed businesses..

>>16844692
Restaurant is tough bc of tons of local regulations, high inventory turnover, high staff turnover, low margins, slow/busy seasons, and high competition. It's tough to scale, tons of upfront costs, and difficult to carve out a niche. I own 2 businesses, worked in restaurants/bars thru college, and while it sounds fun, I don't think I'd ever do it. Good luck tho. Lmk if you need a marketing agency. I recommend partnering up with services like doordash/Uber eats to show your forward thinking. And keep the place (inside and out) absolutely spotless. Also, don't hire any undesirables. And pay them well.

>>16844692
Ask your local mafioso for cash

>>16843426
>I've never been in the food industry and have never owned a business
>Wants to own a restaurant
This has to be fucking bait. Everyone, like even NPC normies know that Restaurants are the most competitive, highest failure rate of all small businesses. It doesn't even have the profit margins of bars and nightclubs which are also awful.

>>16844717
>I own 2 businessess
If you don't mind.. what kind of business. Did you need a lot of uprfront capital to start? If so where did you get it? Did you work a job while starting your first one or do you currently work one now? The restraunts that you worked at were the owners there a lot or did they have other jobs?

I know it'll be tough but this business I think is needed in the area.. I've already talked to a couple people about it and they love the idea and I ALWAYS have ideas and everyone seems to shrug em off for good reasons. I like to bounce ideas off trustworthy people I know and they have all liked this idea compared to others but they all said the same thing.. food is tough. So I figured I'd ask biz for more feedback and I appreciate all the input

>>16844794
I guess I should've put in there, i've never had a business that never really had employees or customer relations

I have rental properties, a debt business and I run a handyman business that just isn't the same. I know food is a whole different ball game let alone a business with set hours. So I'm really fresh in that sense so anything helps. I also have some schooling for business, accounting and economics.

>It doesn't even have the profit margins of bars and nightclubs
I figured that when thinking about it and my thinking behind it was to make it cheap like really cheap to hopefully raise the volume. I was looking into maybe a 5 star restraunt but I don't think I have the market for it around me but there is a market for cheap food no matter how "ghetto" it is.

I appreciate the input and its nice to confirm potential downfalls in a business i've never ventured into

>>16844692
It's not a question of whether you have a good market or not. The problem is the margins are always too high.

>>16844970
>margins are always too high.
I was thinking margins were too low.. like what this anon pointed out>>16844794
I figured I'd counter act the margins by actually lowering prices and hopefully creating more volume since i'm in an area of lower income. It's tough because I have ran some numbers but like what this anon said>>16844236 employees seem to be one of the main problems. I'd work it most the time but not all the time..

If I start a corporation and get funding through that.. if it fails.. maybe I can bankrupt it? I'm trying to start it with the lowest risk on my personal life possible. I have time but I don't have the complete knowledge. Would hiring someone to help in a business sense be worth it? If so what area?

>>16845130
Please watch this one bro: https://www.youtube.com/watch?v=_4d7MojSfKA

>>16845130
Sorry sorry, *too low. Costs are too high. I'm typing this shit at work.

Unless you're starting a McDonalds, lowering your prices probably isn't the way to go. Good food is everywhere. Cheap food is everywhere. What you need is a psychological difference to your food.

Watch the first couple minutes of this: https://www.youtube.com/watch?v=sMBMn9bBzJ8

>>16844875
You didn't do any research before you started this thread did you?

>>16845368
just a little.. but I feel it's best to get info from people that are real and blunt and might've had some experience.

everyone would think it's easy if they read the same shit I did.. but.. people say trading markets is easy...

If I only did my research on biased articals I might not know the truth.

>>16843426
Most restaurants fail miserably. 50x your savings in shitcoins then try if you must. Buy some ARPA before it bounces. Check back in 2021.