Starting/financing my own business...
#1
![Default](https://passionford.com/forum/images/icons/icon1.gif)
...ok, I've been looking at starting my own business.
Found a suitable place, it was a Pub/Restaurant and has been closed for a bout 6 months after the current people fell into personal problems. I'd like to re-open it as its got a lot of potential, and that potential will quickly increase over the coming months as certain things begin to happen locally.
Problem I've got is that I don't have the start up cash needed to buy the property and rennovate the place so its serviceable again.. is it a case of going into my own bank and talking to someone about a business loan for this amount or are there better places to talk about financing at such a considerable level??
Cheers,
Grant
Found a suitable place, it was a Pub/Restaurant and has been closed for a bout 6 months after the current people fell into personal problems. I'd like to re-open it as its got a lot of potential, and that potential will quickly increase over the coming months as certain things begin to happen locally.
Problem I've got is that I don't have the start up cash needed to buy the property and rennovate the place so its serviceable again.. is it a case of going into my own bank and talking to someone about a business loan for this amount or are there better places to talk about financing at such a considerable level??
Cheers,
Grant
#6
![Default](https://passionford.com/forum/images/icons/icon1.gif)
Yea thats right, the business plan, Profit/Loss etc all in hand... its the financing that I'm wondering about buddy, it could be just a trip to a normal bank, but was wondering if there are better places to go when you're talking mortgage money for a business rather than car loan money. ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
Cheers,
Grant
![Top](https://passionford.com/forum/images/smilies/smile011.gif)
Cheers,
Grant
Trending Topics
#9
Never gonna give you up!
Join Date: Sep 2004
Location: Location: Location: Location: Location:
Posts: 5,852
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://passionford.com/forum/images/icons/icon1.gif)
You will need to invest your own money, the bank will usually lend you what you put in yourself.
So as you have nothing, then they probably won't lend you anything at all.
So as you have nothing, then they probably won't lend you anything at all.
#10
![Default](https://passionford.com/forum/images/icons/icon1.gif)
Sorry when I said I don't have the start up cash.. I meant I dont have the full amount needed for it. I'm able to get between 40-45% (waiting on quotes for refurb work for final amount) if I cash various things in but its the extra that I'm needing to find.
Cheers,
Grant
Cheers,
Grant
#12
I've found that life I needed.. It's HERE!!
iTrader: (6)
Join Date: Mar 2007
Posts: 1,285
Likes: 0
Received 0 Likes
on
0 Posts
![Default](https://passionford.com/forum/images/icons/icon1.gif)
...ok, I've been looking at starting my own business.
Found a suitable place, it was a Pub/Restaurant and has been closed for a bout 6 months after the current people fell into personal problems. I'd like to re-open it as its got a lot of potential, and that potential will quickly increase over the coming months as certain things begin to happen locally.
Problem I've got is that I don't have the start up cash needed to buy the property and rennovate the place so its serviceable again.. is it a case of going into my own bank and talking to someone about a business loan for this amount or are there better places to talk about financing at such a considerable level??
Cheers,
Grant
Found a suitable place, it was a Pub/Restaurant and has been closed for a bout 6 months after the current people fell into personal problems. I'd like to re-open it as its got a lot of potential, and that potential will quickly increase over the coming months as certain things begin to happen locally.
Problem I've got is that I don't have the start up cash needed to buy the property and rennovate the place so its serviceable again.. is it a case of going into my own bank and talking to someone about a business loan for this amount or are there better places to talk about financing at such a considerable level??
Cheers,
Grant
Personally I think it's important to see that if you own and renovate the building, and run the pub/restaurant as a business then you are taking two big risks. So try to just do one of the two, and find someone to take on the other one.
Charlie
Thread
Thread Starter
Forum
Replies
Last Post
Turbo Zetec
General Car Related Discussion.
54
13-11-2007 04:41 PM