Hi my name is christaine,
I am 21 years old and eager to learn and very self motivated to start my own business, but the problem is I don't know how and I came looking for some help and advice from someone about starting a fast food resturaunt. I have done lots and lots of research but its like i have hit a wall and don't know where to turn. Don't want to sound totally dumb but please i need help to under stand exactly how to find my market for my area but have no idea how. I also dont understand the financial plan completely and what programs can I find for the correct sheets i need. Please help someone. ;( thank you

I'm sorry that I don't know anything about the fast food industry, but it sounds like you need positive support in your plans and goals. I am full of questions about your message. Have you ever managed a fast food restaurant? Have you ever attended a seminar or contacted a franchise company about this? Have you ever contacted a fat food franchiser about how they did it or asked them to mentor you? Have you created a business plan and spoken to a bank about what you may need to get started (even if you plan on not working with the bank, it's fun to pretend ;-) Seeing as I know nothing about the fast food industry and have not done the research that you have, these may sound like stupid questions, but I sympathize with your plight and wish you all the luck you can get.

yes i actually do have management experience and my problem is I have tried to talk to local resturaunt owners but it seems as if no one is willing to share their tips and strategies with me, I feel it is my age people do not take me seriously, I am not trying to jump into something that will fail I want to gain all the facts and research so my answers are backed with facts. I am currently working on a business plan but are running into a few bumps into the road. I fully understand your questions and thank your for your time to reply. I need help with the market analysis area of my business plan.

christaine,

I know alot about fast food restaurants. I've started small chains and work to help others expand.

My first comment is...It'S HARD!

It's very competitive, almost impossible to finance in this economy, very tough margins, long hours etc etc.

But if that doesn't scare you whatever questions you have I'll be happy to answer.


Paul

>christaine,
>
>I know alot about fast food restaurants. I've started small
>chains and work to help others expand.
>
>My first comment is...It'S HARD!
>
>It's very competitive, almost impossible to finance in this
>economy, very tough margins, long hours etc etc.
>
>But if that doesn't scare you whatever questions you have I'll
>be happy to answer.
>
>
>Paul



Hi paul, and thank you for answering my question. I am aware of the tight market and impossible financing now days, but I am very eager to start my busines, besides jobs are too hard to come by now days also. I want to know everything I could possibly find out to be successful. I am still working on my business plan and I need to know what and how are my best possibilities to find financing. And how to seal the deal. I want my business plan to be thorough and solid going into this.. If i get that far. But I am a go for the gusto type person and don't want to fail. What takes a successful fast food restaurant?

>>christaine,
>>
>>I know alot about fast food restaurants. I've started
>small
>>chains and work to help others expand.
>>
>>My first comment is...It'S HARD!
>>
>>It's very competitive, almost impossible to finance in
>this
>>economy, very tough margins, long hours etc etc.
>>
>>But if that doesn't scare you whatever questions you have
>I'll
>>be happy to answer.
>>
>>
>>Paul
>
>
>
>Hi paul, and thank you for answering my question. I am aware
>of the tight market and impossible financing now days, but I
>am very eager to start my busines, besides jobs are too hard
>to come by now days also. I want to know everything I could
>possibly find out to be successful. I am still working on my
>business plan and I need to know what and how are my best
>possibilities to find financing. And how to seal the deal. I
>want my business plan to be thorough and solid going into
>this.. If i get that far. But I am a go for the gusto type
>person and don't want to fail. What takes a successful fast
>food restaurant?

Christaine,

I'll give you my email below if you like to show me what you have so far on your bus plan. I can probably be helpful.

Obviously there are a few questions I have before I can answer yours. What type of fast food? Is it truly "fast" food like a mCdonalds or is it fast casual like a Johnny Rockets. Is it burgers and fries or a more themematic menu. How familiar are you with the opertions of a restaurant. Do you know the industry standard margins etc. Cost of food, payroll percentage ,rent percentage, day part sales percentage etc.?

Are you familiar with the equipment and furniture needed? Do you have a design and theme in mind? Have you a location in mind? What size restaurant?

I can help guide you through a business plan. I might be able to provide some examples. Since the plan is needed to raise funding it will definitly need to be professional and thorough.

Sorry for all the questions. I can best help if I know where you are in the process. If you can outline your ideas or you bus plan and whatever other info you have gathered so far, on here or by email, I'll be happy to help.

On financing I've dealt with both investors and lenders. In fact I just met with bankers regarding SBA lending for restaurants. It's very tight for new restaurants right now but a little easier for established franchise chain restaurants. You may want to consider a franchise in your area as an entry into the restaurant business( or maybe you are already thinking about that). Also, right now there are some great bargains on franchise resales. You sound very driven and energetic so you might be the kind of person that can 'turn around" a poorly run operation.

So, feel free to discuss further on here or by email.

Thanks,
Paul email paul10507@yahoo.com

Here are some links:

Licenses & Insurance Get your federal tax ID; local & state business licenses; bonding insurance, and liability insurance. When you hire employees you'll need worker's compensation insurance. The Small Business Administration is a great source of information for start-up paperwork and links to informative websites. www.sba.gov/starting_business/startup/guide.html

IRS The IRS website offers a wealth of information for small businesses. You'll find start-up guides, information on tax credits and business deductions, advice on record keeping and choosing an accounting method, employee tax issues, and more. The most up-to-date tax information is available through the site, as well as forms, publications and instructions for filing taxes. www.irs.gov/businesses/small/index.html

State Tax State tax information can be found at www.taxadmin.org/fta/link/forms.html , which provides links to the Department of Revenue for every state.

Business Law: www.businesslaw.gov - Complying with business laws and regulations can be a burden. To help small businesses overcome this, the Small Business Administration (sba.gov) in cooperation with multiple Federal agencies developed BusinessLaw.gov, an online resource designed to provide legal and regulatory information. Topics covered on this site range from choosing a business structure to hiring an attorney. The site also provides links to federal, state and local agencies.

Employment Law: www.dol.gov/asp/programs/EmpLawGuide - This guide describes the statutes and regulations administered by the Department of Labor (DOL) that affect businesses and workers. The guide is designed mainly for those needing "hands-on" information to develop wage, benefit, safety and health, and nondiscrimination policies for businesses in general industry.

Compliance Laws: www.dol.gov/esa/regs/compliance - Statutes and regulations administered by the Department of Labor (DOL) that affect businesses and workers.

Cleaning Business Forms and More: www.MaidDocs.com - MaidDocs provides a start up cleaning business package which includes a cleaning fee estimate calculator; lists of resources; a full color tri-fold customizable brochure, and over a dozen customizable forms and customer letters. When you are ready to grow your business there is a complete Employee Package which includes a guide to hiring and managing cleaning business employees, an employee handbook and cleaning procedures manual; performance reviews and warnings. There is also a payroll template and customer database template. With MaidDocs you can start a cleaning business without a franchise, and keep it growing.


Best Wishes!