A new business but need help

[Muzzy]

Hello All,

Here is my situation. I have been working for 2 years since leaving uni. Both jobs have had their merits (in that they have both given good experience and look good on my CV) However, the last 2 years have shown me that I am not one for the office.

I am very much entrepreneurial with a million and one ideas but I feel now is the time to get off my bum and put one into action. After all, I am 24 and 3/4s and none of us are getting any younger!! :(

During a gap year from university I ran a bar / restaurant for a year, pretty much single handed. I always said it would be the best job I will ever have. :!:

However, having a think over the past few months, I am starting to come around to the idea that there is a market in my home town for a sports bar. With a population of nearly 11,000, a local college with hundreds of students and a decent tourist trade, I believe there is a market out there. Nowhere apart from the local slug and lettuce shows sport and they only have one screen. On a big match day you need to be there hours early to even catch a glimpse of action, plus they are vastly overpriced, both on their drinks and food.

Anyway, I digress. Being 24 (nearly 25! :D ), having no collateral or savings, how would I even begin to find the capital and backing to start something like this??? I wouldn’t be looking to buy the property, rather rent it. Then there are all the development costs, licensing etc. etc.

I have the skills, the belief and the ideas but not the know how on starting it up.

Anyone been through it before?

Thanks

James

[JoyDivision]

It sounds like you might need a venture capitolist, but they will need a lot of convincing, you run the business but they will have a lot of stake in the business, often upto 49% so you won't get everything your way.

If was a venture capitolist I would want some kind of security and I would want to know what management skills you have got.

I am 23 and I have always wanted to run an indie bar but I have realise its a dream which will never happen until I get money.

The costs of setting up your own bar are £1000's, you need an entertainment licence, the property is likely to cost £200k+, you need bar furniture etc.

If you wanted to buy everything then half a million is what you might need, I think leasing is your only option and even then you will need a lot of working capitol.