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Old 06-19-2003, 05:48 PM   #1 (permalink)
 
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i have read several posts on here about needing a 6 months of operating expenses in the bank when you open .....what if that isnt possible what if we have scraped together all you have to get equipment decor and money to builout and secure building what do you do then ???/because i dont want to just not open for that reason
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Old 06-19-2003, 07:45 PM   #2 (permalink)
 
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This is really very very simple. If you do not have the money you cannot open. Period. If you open and have no money you will fold. Save yourself and your loved ones the pain. Wait till you got the dough.
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Old 06-19-2003, 11:26 PM   #3 (permalink)
 
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so what you are saying to me then is that only people who have all the money to build mone for equipment and then about 30,000 dollas in the bank on top of that ???????? some how i dont think that that is the case or am im living in a dream ?????
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Old 06-20-2003, 07:53 AM   #4 (permalink)
 
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I really want a 90 foot long house boat. I have been looking into getting one for some time, they cost about $100,000 used. I don't think it is fair that the only people who have one are those with the $100,000, there must be another way. I mean, this is America. The land of equality. If someone else has that houseboat then I should be able to have one also. Who do I report them to? Same difference here. The answer to your question is yes, only the people who have the money can spend the money.
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Old 06-20-2003, 09:17 AM   #5 (permalink)
 
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tancrazy... Lets say you open now with no money. Lets say you do all right in July & August (Its is possible (not probable))... So you sailing along..when suddenly September, Oct & November hit and guess what you did not even bring in enough to pay the rent.. where do the extra $$ come from if you have none, how will you pay the electric bill, the gas bill, the water? So you get behind.. very behind.. and guess what it is now January.. Your landlord is evicting you.. the power company has turned you over to collections.. Oh yeah and everything you put on the line for any loans (leases) are now being forclosed on... Hmm, Are you happy you opened with no money?
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Old 06-20-2003, 11:22 AM   #6 (permalink)
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it is a good question Tancrazy and I know what you are saying. Those are also good answers. Not sure where you are in the process. We are opening in July and had those same realities. We worked hard to get the lease to 4 months CAM only, SBA loan for 6 months interest only. By leasing some and buying some equipment we scraped together 20k, wanted 30. Have good credit and last option would be to use the old credit cards. Just some options.
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Old 06-20-2003, 02:57 PM   #7 (permalink)
 
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well i am in the process of negotiating my lease and i will negotiate for as many free months as i can get i live in california and when the negotiation is over then the landlord has his clean up and then i have my build out and decorating to do and i dont even plan on opening up until january of 2004 so that i will be there before the start up of the new season and with what i have seen in our area and the demograhics i have for the area i am going to be i am fairly confident and between now and the day i open i will be saving as much money as i can out of my household income which is sufficent enough to suppport my family and still help me save towards some momey to bank for a slow start but i am going in with a can do attitude i know it will be hard and i may lose but i am at least going to try i am under 30 and my husband will not stop working so even if i lose it all i can recuperate may take me 10 years to do it but i think the we have wieghed the risks and are willing to do it and yes haute tans i so have those credit cards empty and waiting for an emergency but that is my very last option and thank you for your vote of confidence
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