2. It seems to me the successful restaurants, bars & general leisure industry are run by, or financed by, hedge funds and private equity with bottomless capital.
Can you compete with these?
@ Blaze :) very good discussion Sir. Special thumbs up for you...
Actually i am a finance student and i want some ideas about the portfolio investment. On internet i am consulting buildtruewealth.net if you have any extra information please let me know. thank you
How old are you?
There are several chains that will sell you a franchise for a sports bar and grill. Like Indigo Joes.
Unless you have many years of extensive restaurant and bar experience, you would be just another victim of the "how difficult is the restaurant business anyway?" syndrome. You need help with design, menus, sourcing, and staffing. And a large amount of money. A franchise will cut down on the learning curve considerably as you can always train at existing outlets in other markets.
I worked in a restaurant POS business (Aloha!) and have witnessed the opening of many new restaurants and can tell you that it doesn't take long to tell the first-timer drowning in detail from the experienced professional.
I have no thoughts on a roller-skating rink other than I thought more were closing than opening and it attracts a very narrow range of customers.
Opening hotels around the World is ambitious. Many restaurants fail within six months. Read some autobiograhies of successful entrepreneurs for ideas and what to avoid. Do not rush into anything.
Okay so I want to start my own business. but I was wondering what you guys think about my ideas. these are some.
- I would be interested in starting a sports bar and grill. Similar to Buffalo wild wings and hooters but with a variety of foods and not just wings. Some would include food like Burgers and those really huge pizzas. The issue would be a liquor license which costs a lot if im correct (TEXAS STATE to be exact).
- The other would be a ROLLER SKATING RINK. Put a couple concession stands and video game machines and charge entrance fees and roller skate rental fee. I would be the first in my city to have a business, my only competition would be a bowling alley. My city lacks attractions and this would not only attract kids but families.
The reason I would like to open one of these is because I want to save money up to open my own hotels around the world. But i know I have to start small and a hotel in my small city would break since there is nothing interesting about my city. I know a roller skating rink isn't cheap but a bank loan would get paid in less than 10 years if I play my cards right. And there is nothing in my city to go have fun. A sports bar and grill place would clash with competitors around town.
What do you guys think I should stick with? How can I execute a great strategy in order to make my investment worthwhile and actually work???
