Monthly Archive: November 2015

Securing a Commercial Mortgage for Your Restaurant Business

The restaurant industry is considered one of the most important and successful industries in the world today. In the U.S., more than half of the population eats out at a restaurant at least once a week, according to USDA. Busier lifestyles, longer hours at work, and growing family responsibilities have led us to turn to restaurants to save time. And with life getting more and more complicated and schedules becoming more and more hectic, the growth in this market is expected to continue in the years to come. With this success, it’s no surprise that more aspiring entrepreneurs today are choosing food franchising or restaurant owning as their business.

Securing a Commercial Mortgage for Your Restaurant Business

However, while the restaurant industry may seem very rewarding, it can be challenging. This is particularly true at the beginning when you have to borrow money to fund your business. As you know, applying for a business loan is not that easy. In fact, almost 90 percent of small businesses applying for loans are getting declined by banks. The requirements are tough, and many lenders are becoming smarter and stricter every year. But there’s no need for you to get worried even if you’re a start-up. There are many options out there to help you obtain the loan that you need. And here’s how to get started:

Determine the required cost.

Everybody knows that opening a restaurant isn’t cheap. Even if you only plan on opening a small café, you need to prepare yourself for the cost, which usually range from $400,000 to $500,000. It could be lesser or higher than that – it depends on what type of restaurant you choose, the food you serve, how you serve it, the location of your business, the equipment you use, etc. Of course, that’s not to mention the amount that you’ll have to spend for the opening, including business permits, business license, insurance, advertising, and opening event. Before you start writing your proposal and find different loan options, you have to determine how much you’ll need first to open the business.

Create a solid business plan.

All loan programs require a solid business plan to be submitted when applying for a loan. The right business plan includes all the important details of your business, including financial statements, location of business, your experience in the industry, your goals and how you plan to achieve them, the amount of money you need and how you will use it, your marketing strategies, if there are backup plans, etc. The lenders want to know if you have the capability to run a successful business. A poorly written business plan can hurt your chances of getting a loan approval; so be sure it is well written and all important information are included before you submit it to the banks.

Do your research.

Keep in mind that not all banks and commercial lenders provide loans to all types of businesses. Most of them are picky when it comes to choosing which businesses to support, and only accept certain applications. So before you waste your time writing and sending applications, make sure that the lenders you’re considering provide loan for the type of business you’re planning to have.

Work with a commercial mortgage broker.

The process of applying for a property loan is very confusing, complicated, and time-consuming. Even if you’ve already been in the business for many years, you would still not want to go through it alone. If you want to lessen your load, hire a local mortgage broker. If you’re opening a restaurant business in Australia, for instance, get the service of a mortgage broker Melbourne. These professionals know the current market in your area. They also have a great understanding on how the process of getting a loan works; therefore, they can give you sound advice on what to do to secure financing. Most mortgage brokers are also acquainted with a lot of banks, which increases your chance of getting the loan that you need for your restaurant.

Starting Your Own Food Cart Business

In order to become a good businessman, there are certain things that you have to know more about. You have to know how having a business is like. This is one of the main problems of people. They assume that just because they have the money to start a business, they assume that this is already good enough for them but this is not true at all.

People can have money but they may not have the right skills to have a business. For some people, they find it necessary to be good in accounting. In fact, they might be doing some CPA exam preparation so that they can become good in computing but aside from being good in math, being a businessman would require much more than that.

Starting Your Own Food Cart Business

Food is always one of the main businesses that people think about at present time probably because they know that food is always something that people need. Starting a full restaurant can take a lot of money though so the next best thing is to have a food cart business.

What is a Food Cart?

A food cart is mainly a food kiosk that can only take a small amount of space. It can be placed inside a shopping mall or it can also join fairs and bazaars. The work place in food carts are usually small so they only have a limited selection of food that they can serve to people. Get to learn more about that from here.

All over the world, there are various food carts that are popping out all over the place. There may even be times when it can be a bit complicated to choose the right food cart to visit. If in case you would also like to start your own food cart business, there are certain things that you have to remember:

  • The concept of your food cart may be the first thing that you have to think about. You need something fresh, something unusual and something that may have never been seen before but at the same time, it should be likable.
  • Be unique and create your own food. You might think that now is the time that you can just franchise from a well known food cart but if in case you would like your business to have more worth in the long run, you can start your own line.
  • Remember that the food products that you are going to sell should be food that you truly like. If you are going to choose food that people will not like to try out, then they wouldn’t want to visit your food cart.
  • Make sure that you will have a name that is easy to remember. You do not want people to just try guessing what the name of your food cart is. Your name should be easy to remember so that if customers would talk about your food to their friends for recommendations, the name of your business will immediately become evident.

Hopefully, these tips will help aspiring businessmen to create their very own food carts at the soonest possible time.

Importance of Air Purifiers in Kitchens

For students of culinary arts, they have to learn a whole world of different things aside from just honing their cooking skills. A chef needs to know everything there is to know about hospitality management as well. Although serving a guest is a task that requires an entire team’s effort, a chef fulfills a task that is the most crucial, which is preparing the food. However, during the process of cooking the food and preparing it, the chef also needs to ensure that the air around them and in the dining area is also clean and healthy. It could totally ruin the guest’s eating experience otherwise. To purchase an air purifier, click here.

Importance of Air Purifiers in Kitchens

Why do you need an air purifier?

Since dining is an experience, it is important to teach culinary students about the nitty-gritty details so that they will be used to them by the time they are employed. Ensuring that the air around the kitchen and the dining area is clean and sanitary is one such detail. As mentioned earlier, it could completely ruin a person’s dining experience, and you would rather that they return to your restaurant again and not just once. This is one reason why you have to ensure that they’re able to breathe in clean air and that the room is purged of offensive odors.

Additionally, since you will encounter several different types of people while you work at a restaurant, if you ever encounter guests with allergies, having a good air purifier in such a scenario would prevent a lot of discomfort on their part, as there might be particle in the air that could potentially make their allergies much worse.

Having an air purifier will also help neutralize the odor of the food. This is an especially important detail for restaurant owners and chefs to note down. Although good smelling food is always great at first, you would eventually want that smell to go away, whether that be in the kitchen or in the dining area of the restaurant itself.

Also, you wouldn’t want strong smelling food to affect the taste or the odor of other foods, as that would be a total disaster. Having a purifier is a big help in this case, as your guests can easily leave the restaurants without having their clothes smell like their food, as that could be quite embarrassing and problematic, especially if they have somewhere to go to after their meal.

Finally, you will easily be able to create a happy and healthy environment in the kitchen as well, as all the smoke that comes out of the stove can easily be cleared away by the purifier as well. Remember, the kitchen is the most important portion of the restaurant, as that is where the main action happens; you need to be able to keep the kitchen healthy and clean if you want people working there to stay healthy and also if you want to serve great food to satisfy your customers.

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