How To Open A Restaurant With NO Money? | Small Business Advice Restaurant Funding 2022
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- Опубликовано: 24 июл 2024
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👀 ABOUT THIS VIDEO
People ask me all the time..."what if I only have $50K?" "Can I still start one with $80K?" After hearing about the restaurant business concept, I had to sadly tell them NO that's not enough...it is sad to have to crush someone's dreams but it is the truth (according to the information and estimations I have). But that isn't the end of the world if you don't have enough capital for a restaurant startup.
That's because there are several ways to get funding required. This is the case even if you have no money. You could ask your friends, look into the various government & association grants, go through investors and get a partner. All of these have varying risks success rates. Some of them I don't recommend personally but are options. It is what works best for you and your situation. Regardless which path you take to fund your business, it is a way to by-pass the dreaded obstacle of not having the initial capital to start your DREAM F&B shop.
So if you're looking to learn how to open a restaurant with no money, how to start a restaurant business, a restaurant owner looking to get more restaurant funding or a small business owner looking into restaurant startup costs, keep watching!
HOW TO OPEN A RESTAURANT WITH NO MONEY (SMALL BUSINESS RESTAURANT FUNDING)
• How To Open A Restaura...
• How To Open A Restaura...
#restaurantbusiness #restaurantfunding #wilsonklee
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👤 ABOUT WILSON:
I’m Wilson, your new restaurant business partner. I’m here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) it’s been my mission to share this knowledge with people like you who have great ideas, but just can’t seem to break through. If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
I’ve helped hundreds of restaurant owners and entrepreneurs create explosive Food & Beverage businesses. You don’t have to take my word for it. I’ve been awarded Top 30 Under 30, Young Entrepreneur of the Year, Top 10 Emerging Entrepreneurs, and recently a Forbes Business Council Member.
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Find more great resources, check out www.wilsonklee.com/
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Nice Video! Excuse me for chiming in, I would appreciate your thoughts. Have you considered - Bonincoln Wordless Authority (google it)? It is a good one of a kind guide for getting finance for your business minus the normal expense. Ive heard some extraordinary things about it and my best friend Jordan finally got amazing results with it.
Do you teach how to write a business plan to get financing from BDC in your pros academy course?
I finally got my business loan yesterday. What a wonderful way to start the year.
Congratulations 🎉
Lets go my man
Amazing
How?
How’s it going for you? 😊
im 19 and with a vision of becoming successful with a family seafood restaurant in south padre island texas. With the secret recipe of my father for his famous ceviche. Numerous people have asked why we dont opwn a restaurant and i thank you for giving good information.
best of luck!
I pray you do! I love that area! I worked at Bay Area Hospital
You can do it just work hard and don’t listen to naysayers…prayers for you 🙏🏾❤️
We just started our restaurant business this year and can't wait to share our journey on my channel soon.
Wonderful content! I’m dreaming of opening a brunch n lunch cafe and you answered so many of my questions as I begin.
Wilson, i like ur channel so much, very easy to understand and straight to the point
Appreciate the kind words Heinrich! Join our FB group if you have any questions!
Accurate and to the point. Well done
You're a wealth of knowledge, thank you for your content!
thanks brother! :)
So amazing advice. Thank you Wilson.
Thank you man. Great content. Do you do advisory professionally
Great info. Just started following you so looking forward to watching more. Any advice for someone who currently runs and owns a BBQ catering company but wants to open a small BBQ joint in Alabama?
umm knowing your customer base is super important and crucial to your success. join the fb group and ask questions there! :)
Can you do a video on How to hire chef for your restaurant
I love these videos they are great, any advice on how to start a bar? thank you!
Glad you like them! I don't have exp with bars but the fundamentals with staffing, marketing, operations aren't super different from other food businesses. What's your background and vision?
Wilson K Lee - How To Open A Restaurant / F&B Shop - Thanks for the response , my background is Auto finance. Also been a DJ for a number of years now I’m 25 years old. Living in South Texas San Antonio. We have a good amount of bars here . But most lack creativity and marketing. My vision is to create a 3000 -4000sqft bar/lounge where you can grab a bite watch the games and stay for the entertainment at night. I’ve been in the industry and have a general idea who I need to help run. I have connections as far as chefs , bartenders / managers/ djs / sound guys. What I’m lacking is the best way to raise capital I understand bar are kind of a risk with banks. What is the best route to take to get funding? I’m in the process of making a business plan and a 3D rendering to get a visual. Also it wouldn’t hurt to get more knowledge on what u said marketing , staffing management etc. thank u!
Very nice video 🌎 Thanks. Greetings from Colombia. The Venezuelan Immigrant writer, ecologist, entrepreneur 🇻🇪
thanks antonio!
Would it work if I partner with existing restaurants, have them create a new menu or an addition to what they have, and Uber eats just collects from them to my customers?
I want to open store that sells all kinds of potato chips. And vending machine of coke to go along with that
Interesting concept! What made you want to open something like this?
I wish you live in Montreal Canada, because I will open one sooooon.
and I would like to have a partner with the same call in.
I am thinking about a new type of restaurants: eating-spots
in eating-spots, food keeps changing, chefs also rotate
this is opposed to current restaurants,
thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants,
along with that, there is an app,
people vote for the food that will be cooked in the next days
menu is influenced by the live input of the people via an app.
@@yourhighness4746 hey bro I'm in Montréal what's your idea
Thank you so much 😃
thank YOU!
I'm feeling overwhelmed. Do you teach a course or recommend a step by step course?
join our FB group and you can get some help there. My private academy is currently closed for this cohort. Will have to wait for next one.
So how soon do you need to pay back government loans? Do they give you half a year to start making money?
And can you use loan funds to pay your cost of living while you get the business started?
What do you recommend for someone with poor credit. I want to get a business grant in NY but I feel like my poor credit will get in the way. Please would appreciate your advice!
You'll want to verify whether your credit rating would be a significant factor to that specific grant. Each grant and organization is slightly different on what they are looking for before investing. And if you do find it as a big negative factor, I would consult with a financial professional to see what you could do to improve your credit rating and also find other avenues where your credit rating wouldn't be a big factor.
HI Wilson,
your videos are really helpful!!!
We are thinking to take over leasing sushi restaurant business.
4yrs +10yrs options remains
located in downtown building.
not that big prob upto 10 tables.
I wonder what are differences that just leasing take over business or buying and still pay renting w/lease ?
Is Leasing always came with premium?
Could you please give me a bit more details of these type of business?
(We are in Alberta Red deer county.)
Thanks 🙏🏼
take a look at my other vid on lease terms
Is good to open an LLC first and than ask for found for startup?
Raise money from friends and family?. You are a dreamer
How about you open your restaurant branch here in Nigeria I also what to want to open a restaurant but I don't have the capital
sorry no can do
Plot twist: my whole family is broke and I don’t keep in contact with any of my friends anymore 😉
Perfect! 😂
well there is my comment 🙃
i said the same , pretty much , before i even saw this
Jajaja I asked my parents who do have some money and they called me stupid.
What kind of friends and family do you think I got? There asking me for money for there light bills.
So I have a concept where I want to transform an old barn in my area and turn it into a upscale/fine dining establishment. I've seen some photos of it and I've gone to restaurants where they transform Colonial Era homes into fine dining establishments. My area has a very strong agricultural economy to go along with a farm to table theme (hence the barn restaurant) while we also have the economy to support a fine dining restaurant (lots of colleges in the area which requires professors to teach, so that needs doctors, lawyers, bankers, etc. to support the community). I don't know about the process of getting a barn as they are still being used by the farmers so I don't know if it'd be more financially viable to buy a plot of land and build something there? I don't want my restaurant to be right in the commercial district of the town that I'm looking at because it's very corporate... Applebee's, Ihop, McDonald's, etc. I've just finished my Associate's Degree at the Culinary Institute of America. I've worked in restaurants for a couple of years.
Basically I'm just asking if you think that my idea is feasible and how long does it take to get something going? Do you think I need more experience? I'm dreaming of opening it within five years.
Sounds like a neat concept Jon! I can't give a definitive answer on whether it is feasible or not. It would be something I would go dine at. But you'll need to do more research and create a business plan to really see whether it is viable. Once you see compile it into a plan, that is when you can make a more informed decision. Right now there are too many unknowns. And if you have a 5 yr window, this should give you ample time to do the research, talk to people who have done something similar, talk to people in the area and see what they think (they will be your customers), and even get more experience yourself. Although those big food brands are corporate like you said, they do a really good job in their operations in making things effcient. Something you'll want to learn so you won't be pulling your hair. Best of luck!
@@WilsonKLee Thanks for the feedback! I agree that the corporates made their mark and they are successful at what they do but like you said in terms of "filling the gap" and such, I feel that keeping it in that district would take away from the concept.
thanks
Hi sir can you please guide me how to make my business proposal
I have another video on business plan that can help you!
The truth is you just want to sell somebody useless information because you can't start up a business with zero money
Culture plays a big role. I’m Dominican, Dominicans don’t think like this unfortunately
I’m Honduran and agree with you 100%
I would prefer to not rely on my parents tbh
Same. I don't recommend it but some people are ok with that risk and pressure.
Work your ass off for 3 yrs be extremely frugal and live below your means... you’ll put up 120% more effort bc you know how hard it has been to raise money
1000000%
well , the biggest way is eliminated.. my family ain't got no money
please when you want to create a video
turn down your music 🎵 on
I don't have any "FRIENDS or Family" that have the kind of 💵💵💵💵💵💵💵 I NEED 😡!!!
How do I get a GRANT?
I tried US FUNDING and that DIDN'T WORK, & I DON'T WANT NO PARTNERS... #SMLLC 😡!!!
INVESTERS want ROI's🤦🏾♂️
2020 BUT was posted in 2019. i smell something
umm what do you smell, please share.
I have poor family
If U don t have family and friends 🎉🎉🎉
Wait. How to start one with no money then right off you say you was able to pull from “other businesses “ to get the capitol... lol...
Damn dude.. do a better video and stop click baiting people
well just wanted to be transparent about how i did it. the very first business that i started, i started with $0. was all just sweat equity. $100 of printed posters and me doing all the work. im just presenting all the different options available on the market. take your pick as to which is most fitting for you.
btw - if i were about click bait, i would have a LOT more click baity titles with no substance.
@@WilsonKLee Don't listen to them, this video was very informative and interesting.
Fuck dude I really hate how much time I’m wasting listening to you suggest that I holler at my broke as family for funds. Maybe make that one the LAST suggestion because the VAST majority of people don’t have family who can fork over 200k to start a restaurant
Thanks for the suggestion 🙂
If we don’t have the capital or only have small capital, can we just be vendors in online restaurant apps? for example foodpanda/grab. Is it a good move to grow our capital?
Starting your food business online is what I'd recommend if you don't have the capital for a storefront. It is a common stepping stone like how food trucks end up being storefronts later. Check my online food business masterclass for more examples.
The answer to, "why me"? is because I'm going to make you a ton of money.
No cash to beging with,
Make sure to lease a space from a Realtor only!!!
A landlords will ask you pee and blood tests on top of everything else.