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Registered
Join Date: Mar 2003
Location: Charlottesville Va
Posts: 6,046
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Downtown LA? Neither of you have paid culinary dues or have a solid biz background?
Lets start w/ basics-something like 90% of these ventures fail in first 3 yrs. 3 yrs is the general payback curve, unless you are an instant flash in the pan, and frankly, you don't want to be that cause you can't handle it. As a result, there is no traditional lending for these ventures, unless its 100% secured at like 9% on a 5 yr. balloon, with a pg and even then you won't find many lenders. Oh yeah-did I mention that 95% of the folks you'll hire to run the back of the house for you have major substance/personality issues? Not that their bad people-spend 12 months on a line and see if you don't....
Do a BYO or what Shaun suggests, figure out how hard/life destroying the biz really is, then maybe if you survive personally and financially, go for it.
BTDT.
__________________
Greg Lepore
85 Targa
05 Ducati 749s (wrecked, stupidly)
2000 K1200rs (gone, due to above)
05 ST3s (unfinished business)
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