Tag: Strategic Funding
Know Your Lender – The Grinch Is Out There!
The first thing I have always told, and continue to tell, small business or restaurant owners seeking financing is to do your research on ANY lender you are considering.
‘Dr. Doomsey’: How To Get Ready For The Downslide
Certain patterns of behavior repeat themselves particularly as younger generations move into the mainstream economy. The big one in America is that most people confuse positive economic growth as sustainable without considering a downslide.
Boom, Bust or Bubble?
Everyone seems happy about the economic boom, so when will the big drop come? Most financial types agree that we are overdue for a “correction”, so what do you see in your crystal ball?
Crowdfunding As Food Industry Financing?
I have had a few entrepreneurs ask me about financing opportunities for start-ups using crowdfunding platforms since most traditional lenders have very little interest in new foodservice operations.
Finding Restaurant Gold In A Crappy Location
Most of my restaurant friends thought this neighborhood that was gentrifying was a crappy location. Boy were they wrong and I went on to open more restaurants and the formula held true.
Have A Restaurant Partner from Hell?
In lucky cases, a restaurant partnership can be a match made in heaven. You find someone with aligned interests and goals. But, in other cases, you end up with the partner from hell. What might have started out on a positive note has devolved into a monster over time. You never know for sure how it will turn out.
What Are The Banks Really Looking For?
One of the most consistent threads that runs through the world of restaurant financing is that in the vast majority of cases, banks have very little interest in financing independent operators in our industry.
SBA Loans: Know The Facts From The Misconceptions
An optimistic restaurateur pursued SBA loans but didn’t really understand that the SBA doesn’t actually fund the loans directly – they work with a partner bank. But at least the SBA is willing to guarantee 50% to 85% of the loan depending on the program and amounts, which opens a lot of doors but puts down its own obstacles.
