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Chef seeking first time ownership of small gourmet market/cafe

I am a Chef with 10 years of experience. I have traveled and worked outside of the U.S. for the past two years. I am interested in purchasing an existing restaurant/market. Where do I start? I have not been able to find much information about obtaining business loans, requirements, etc.. Any help would be greatly appreciated.

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Answers (2)
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Executive Chef
York County, SC

I have looked in to franchises in the past. Most require more capital then I am able to come up with. I want to start small, prove that I can be successful, and expand from that point. I just need a solid starting point. Most importantly, I am trying to do all of this on a Chefs salary. Going to a bank for a loan, I can show the experience, but I am not sure I have enough credit to secure a loan. Would it help me to search for an owner financed property?

Apr 11, 2010
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

Hello Paul, Good luck with your search, this is a good place to start. I am a firm believer in franchises, since I started or bought several businesses in my life. If you can finagle a bunch of starting capital you have a better change of getting in business and when you want out a better chance of selling out.
Just wanted to make sure you didn't overlook all the successful restaurants out there. Good Luck, Jon.

Apr 11, 2010