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Forum nameBiz Ideas
Topic subjectStarting a small cafe
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=500&mesg_id=500
500, Starting a small cafe
Posted by brian106, Thu Dec-14-06 02:20 PM
Hello. My name is brian and I am a first time poster. Here is my situation. I am 51 years old,retired and I want to fulfill a longtime dream of owning my own cafe.I am very motivated and I am always the micromanager wherever I work.I love to cook and bake and I am told that I am good at it.I hear that I should be a cook a lot.I don't want to cook in a busy restuarant. I would rather have a small place where I could cook or bake if I want.I want to buy an established cafe or coffee shop with coffee and desserts and maybe sandwiches.I would buy from the past owners vendors and slowly add my own food I make.Just to start out slow and make enough to live on for now.I haven't started looking or a place yet.I want to make sure I know what to expect before I go that far. My question is regarding financing. I do not have much money saved up but I do have around 100,000 to 150,000 in equity from my home. Is it possible to get a loan using home equity? I am hoping to do all of this for under 100,000. Is this a realistic figure? I am very driven in all that I do and I am somewhat anal about order.I am also used to working 12 hour days and weekends so that part I can handle.