Comments on: How much would someone need to start a Nightclub/Restaurant in Los Angeles? http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles Tips, Ideas And Resources For The Emerging Restaurateur Sun, 13 Dec 2009 22:03:59 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: dave h http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles/comment-page-1#comment-2340 dave h Sat, 18 Jul 2009 16:53:59 +0000 http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles#comment-2340 My biz partner used to be a CPA for bars and restaurants in Chicago. He holds these following truths to be beyond question: 1. 90% of all restaurants and bars go broke. 2. 70% of all new restaurants and bars go broke in their first year. 3. 50% of all restaurants and bars that go broke fail because they were under-capitalized from the start. 4. Unless you have a family run restaurants/bars, you must expect to suffer huge losses caused by employee theft; the only way to stop employee theft at a restaurant/bar is to have somebody there watching everything every minute the place is open. You describe a restaurant/bar that would need over a million dollars to start (plus you would need excellent food).<br><b>References : </b><br> My biz partner used to be a CPA for bars and restaurants in Chicago. He holds these following truths to be beyond question:

1. 90% of all restaurants and bars go broke.
2. 70% of all new restaurants and bars go broke in their first year.
3. 50% of all restaurants and bars that go broke fail because they were under-capitalized from the start.
4. Unless you have a family run restaurants/bars, you must expect to suffer huge losses caused by employee theft; the only way to stop employee theft at a restaurant/bar is to have somebody there watching everything every minute the place is open.

You describe a restaurant/bar that would need over a million dollars to start (plus you would need excellent food).
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]]> By: Vivacity http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles/comment-page-1#comment-2339 Vivacity Sat, 18 Jul 2009 16:35:59 +0000 http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles#comment-2339 Interesting question. I thought about the same thing a long time ago. I decided against the project because I knew I would need capital for a minimum of 5 years. I also knew my partner to be wouldn' t conform to the restraints of a true, working budget. In your area, I would suggest hooking up with the local small business association. They will guide you through the foibles of virgin entrepreneurship. They've been there and have nothing to gain by steering you away from the pitfalls. Except to pay it forward. I hope someday you will do the same.<br><b>References : </b><br> Interesting question. I thought about the same thing a long time ago. I decided against the project because I knew I would need capital for a minimum of 5 years. I also knew my partner to be wouldn’ t conform to the restraints of a true, working budget. In your area, I would suggest hooking up with the local small business association. They will guide you through the foibles of virgin entrepreneurship. They’ve been there and have nothing to gain by steering you away from the pitfalls. Except to pay it forward.
I hope someday you will do the same.
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]]> By: Robert E. Lee http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles/comment-page-1#comment-2338 Robert E. Lee Sat, 18 Jul 2009 16:02:59 +0000 http://www.restaurantstartupinfo.com/start-restaurant/how-much-would-someone-need-to-start-a-nightclubrestaurant-in-los-angeles#comment-2338 Go to www.score.org/template_gallery.html and download the Excel template for estimating start-up costs.<br><b>References : </b><br> Go to http://www.score.org/template_gallery.html and download the Excel template for estimating start-up costs.
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