Take stock of your assets. Take into account your savings, your fixed assets like your vehicle, real estate investment etc. You can sell certain goods to constitute a more significant contribution or to use them as a loan guarantee. Aid and subsidies are also a solution; they vary according to the profile of the creator and the geographical location.
Finally, think about the crowdfunding trend. Crowdfunding can be a suitable solution for your project.
Ask friends and family to help you
After quantifying your contribution, you can consider turning to those around you for support. Be aware that borrowing can lead to quite complicated situations; be sure to treat them like real investors by setting out the terms of the relationship in writing. Don’t forget to alert them to the risks they are taking by investing in a restaurant opening project.
Contact the Bank
Contact your banker to discuss your line of credit and get a loan to open your restaurant faster. Professional lending is the most classic formula for financing the opening of a business. However, you will need to take actions to secure your investment.
Finding a partner can be the best way to get the start-up capital you need. An associate who would like to get involved in the restaurant or only finance it. In both cases, you will be a winner. You will need to make sure you describe the individual roles and responsibilities of each partner in writing; this way; you are completely transparent with your partners.
Look for help and subsidies!
The creation of a company gives us the rights and possibilities of financing your project. Indeed, there are many financial aids from the public authorities.
Think about crowdfunding
Crowdfunding consists of appealing to the community (relatives or anonymous people attracted by an idea) to raise funds to finance a project. It is part of what is called the collaborative economy. This solution allows you to avoid having to resort to the bank or to supplement your financing.
How to access this funding?
It’s effortless, there are many platforms dedicated to crowdfunding. You need to present your project idea and your business model to convince as many people as possible to finance you. Here is a complete guide to the different platforms.
In all cases of financing chosen, you will have to convince! To prepare yourself, do not hesitate to read our previous articles on the development of the project to open a restaurant and the formalities and legal aspects.