starting ones own business....

[blacknightteg]

ok, so me and a friend have been throwing around this idea for some time now. We are seriously thinking about sometime over the next year or so maybe starting up this resturant/delievery service around maybe the state tech area. its a long shot i know but were really set on wanting to do it. whats the best way to go about it? this is a serious question, please dont flame.

[carbon_crash]

Just be cautious in starting a business with a friend, sh!t could go bad between you two with a quickness! But other than that, just make sure you promotely the sh!t out of your service/food in the targetted area and stay competative. Good luck man

[blacknightteg]

lol yeah i think we will be alright. he's going to austrailia for a year so i guess that would be the testament to see how everything goes and see if he still wants to do it. we figure it will be a really good idea... i mean we would start off small..passing out flyers and **** putting adds in the paper and what have you. but thats the sole purpose of doing it at a college campus because of the amount of late night hungry college kids.

[Z33_kid]

food is a must but if u can get a nice visible area then buisness will come ... but then again how things are going these days its a risk

[kar906]

build up ur credit an get a huuuuuge loan buy and or rent a lil place...buy food buy car for divlvery make a menu to were u can make a profit an wallla you have a nice bizzness goin.

ok, so me and a friend have been throwing around this idea for some time now. We are seriously thinking about sometime over the next year or so maybe starting up this resturant/delievery service around maybe the state tech area. its a long shot i know but were really set on wanting to do it. whats the best way to go about it? this is a serious question, please dont flame.

[Blitanicle99]

Me and my friends were thinking of the same thing, 3 am... your stoned and hungry as ****. That would be glorious lol

[blaknoize]

BETTER NOT PRICE UR SH!T TO HIGH OR ILL STAB THE BOTH OF U WITH UR OWN FORKS

[blacknightteg]

haha na it would be in expensive but range in prices tho depending on what you would want and what not, i mean we have definetly thought it out. but we were going to wait to do anything until he got back and hopefully too by the time he does. all this shiz with the economy will be stable

[WickedIXMR]

My advice, save up alot of money first. Also dont invest all of your money reason being is because starting a business is really hard esp if youre gonna open up a brand new place instead of buying used. In most cases it takes some time getting back what you invested and making profit. So make sure you save up and get ready for months where you will have no income and be patient.

[One_Bad_SHO]

As a current business owner who has contracts with the Environmental Protection Agency (EPA) and is sponsored by NIKE, I feel I should chime in with a bit of advice.

First, as previously mentioned, be careful starting a business with a friend. I started my business with my BEST FRIEND who was like a brother to me. Business/money changes people. It ****s with your ego. Long story short, I had to buy out my best friend for $15000 cash last week. We no longer speak. You may think you trust somebody but keep in mind, people change. I would have never thought in a million years that it would have ended up like this. I was fortunate enough to convince him to leave the company because of his unprofessionalism that was bringing our business down.

Personally, given todays economy, its a HUGE risk to take out a loan and start your business as previously suggested. I recommend that you and your partner save up for a year and pay everything cash. That way, incase your business fails you do not owe debt to anybody. Its a lot more work but its also a lot safer.

Strategic Partnerships = KEY TO SUCCESS in todays world. Be careful with flyers. Make sure to ask for approval when posting flyers on a businesses property. Flyers also look "cheap"... effective way of getting your name out there.. yes... but if you are trying to create an image and a trusted name... bad idea. Spend $200-$300 at a location like JPEG GRAPHICS or some other sign shop and get a few signs professionally made. Speak to local businesses and see if they would allow you to post a sign on their property. A few strategically placed, professional looking signs and you'll be off to a good start.

I'm about 6 beers deep cuz ive been watching the presidential debates.. so i dont have the patience to continue on with this. Send me a pm and ill check it tomorrow if you have any questions.

MAKE SURE YOU ARE INSURED.

[sport_122]

Good advice,

You need to do some research. The food industry it very very hard to break into. You competition is spending millions of dollars and some will have national recognition. Make sure you know the negatives because most people only think of the positive and early on the negative seem to compile.

Also getting a loan is going to be damn near impossible. If you think you have a really good idea for a business and you think it will work then write out a proposal. If its good enough it will pass the test from other business owners and then you can search for investments. But keep in mind that industry is very very difficult to get into. If you have never worked in that industry then you may want to try to get a job to get some experience. Potential investors will not give you anything if you have no experience.

You have to have a niche. Without one in that industry you have very little chance at seeing a return on your money. I have been working for myself on the side for years. At some points I don't have to have another job and at other times I have made plenty.

I work in entertainment, I manage a local recording artist and at one point I had 7 artists. And I would say that having a good business can be extremely rewarding, but it can also be extremely damaging.

So
1. research and know your industry
2. Get hard facts and write a proposal
3. Get people who have experience in that field to look over your proposal and be willing to take their criticism
4. Make a plan and stick as closely to it as you can
5. Be ready to have to work harder and longer than you ever have.


Advice with my experience in that industry:

You also need to keep in mind why so many places are closed at 3 AM. It is not cost effective. The majority of people are already sleeping and the few things that can happen on college campuses will not support a full grown business.
Now maybe if you only focused on delivering for places that were already open, you could dodge the overhead, put that cost on other people, and you could reap the benefits of being one of the very few drivers on the road who will deliver that late. Another problem is that it is also a dangerous job in atlanta, because delivery people are targeted for $.

Those are a few things that I am positive you are going to hear.
I would recommend against, spending a bunch of your own money, buying a location, sourcing a store, and committing to equipment or resources, until you are positive that the investments will return. If you can prove that the business will make money, other people will take the risk at investment and you can still own your company. If you lose money, it will be there's not yours and typically (depending on your investor agreement) you don't have to pay them back if the company does not work.

but good luck. dont take this lightly it is a ton of work.