hiya there please lend me 2 minutes of your time

[JoshuaLawrance]

Hi im thinking of setting up a small cafe into a nearby village which has no competition whatsoever and his mainroads running through there, offering alot of potential customers.

I have no idea how much money i believe i should raise so anyone that has their own food outlets, or valuable information could you please inbox me or post on this thread things i need to take into account when setting up a small business/cafe. I would also like to know anything you may know about rules and regulations regarding selling food. But please tell me how much finance i should set aside and how much a bank would loan to a 20 year old male with a great 2 year credit history,

Thankyou,
Joshua Lawrance x

 

[LicensedToTrade]

Is it safe to assume that you are just talking more nonsense?

Last week you were setting up an alcohol free disco company for kids, the week before that you were looking for business ideas for your school entrepreneur group to do in 3 weeks and now you are setting up a small cafe in a village?

What exactly do you want?

 

[TheMD]

My field isn't catering or retail so I can't advise on specific aspects of the field you are entering, but in terms of the finance, you may find it difficult to raise money via banks for this purpose unless you are offering some security yourself or proving to the bank that you have good faith in the business plan by putting up some funds yourself.

As I put on another post the other day about bank loans and funding, a friend recently applied for a business loan (established business, 12 years old £4m/year turnover, profit in the region of 45k), and for a loan of £300k, he had to raise £100k himself also before the bank gave him consideration.

 

[LicensedToTrade]

My field isn't catering or retail so I can't advise on specific aspects of the field you are entering, but in terms of the finance, you may find it difficult to raise money via banks for this purpose unless you are offering some security yourself or proving to the bank that you have good faith in the business plan by putting up some funds yourself.

As I put on another post the other day about bank loans and funding, a friend recently applied for a business loan (established business, 12 years old £4m/year turnover, profit in the region of 45k), and for a loan of £300k, he had to raise £100k himself also before the bank gave him consideration.

Whilst your answer is a fair one, I fear you may have wasted your time responding to this fella.

 

[bovine]

Well, I can probably answer your last one: How much will the bank lend a 20 year with a great credit history? Nothing. Too high risk, hospitality is too high risk, sounds like you have little knowledge of the industry, so again, too high risk.

Your venture is risky and challenging, even to someone with experience of this sector. You may be able to do it, but you would need a brilliant business plan which you know inside out which you can pitch to private investors.

Probably best not to spend too much time on this, sorry to sound so brutal!