This feasibility study provides the perfect groundwork for the next step: financing. We’ll transition this work into a full business plan and financial proforma, including start-up costs, sales forecast assumptions, cash flow analysis, and a balance sheet.

If you’re reading this, you may have already read about the success rate for start-up restaurants. It’s not good, and the biggest reason is being undercapitalized (they didn’t borrow or raise enough money). So before you jump in headfirst, let’s test your concept’s feasibility and your bankability. Is there really a market for your concept? Where is your target market—is it where you want to be on a daily basis? Close to home? Really taking the time to consider your day-to-day once you open is important for longevity. How about the start-up capital required—can the business afford it based on realistic sales projections? Are you being realistic about both costs and sales? I can help you determine all of this before you take the plunge.
 
I will help you answer all the tough questions through market research and financial analysis, which makes up a good portion of the full business plan. This feasibility study provides the perfect groundwork for the next step, which is financing. Once you have the confidence you need to move forward, we’ll transition this work into a full business plan and financial proforma, including the menu, marketing plan, and owner/management experience. And then we’ll shop it around. Maybe SBA 7a is a good option. Maybe you have access to other forms of financing with better interest rates. The structure of this financing is critical and needs to work with your cash flow. Don’t make the mistake of piecemealing the financing and ending up with a monthly debt obligation that forces you out of business.

We can get started on your plan before you have an exact location, and fine-tune it once you negotiate a lease or purchase the real estate.

Of course, part of the challenge of financing is good credit. Check your credit score. If you’re not at 680 or above, we’ll put together a plan to improve your score. It may take time, but this whole process takes time. You could be improving your score as we do this critical groundwork for a successful launch.

There are many options for financing, and we’ll explore them all, including SBA.