Requirements for Starting a Restaurant Business Essay

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Requirements for Starting a Restaurant Business Restaurant business is the organized effort of an individual to produce and sell for a profit the goods and services that satisfy society needs (Lundberg and Walker 2). To organize a restaurant business, businessman must have to have four kind of resources; material, human, financial and information. These four resources apply for every kind of business no matter what kind of business it is you're going to start. For example in order to start restaurant business under material category it includes equipment tables, chairs and other decoration supply etc. An individual can't run restaurant business because it is a team effort business, which needs…show more content…
There are 600 new restaurants opening every month and over 200 more needed to keep pace with increasing demand. Virtual Restaurant Consultant Company makes both of these above statement. California has one of the biggest diversity of Asian population according to the census 2000. This shows that as population is growing at the fast rate there is need for new restaurants with increase too. That why it is right time for to open Restaurant. Looking For Money: To start off restaurant business you need money because money is the product through which we are going to purchase materials and generally keep the business operating. There are different sources from which you can borrow money. A. Family or Friends: Borrowing money from family or friends is the cheapest from of borrowing. In order to borrow money from them you have to have your whole plan ready because you have to convince them that your plan is strong and able to pay off their money during the time limit that you are going to fix. For example the owner of the Ahlishan restaurant in Berkeley (C.A) who also borrow little amount of money from his friend said that this is one of the best ways to borrow money for her restaurant. B. Banks: Getting money from the banks is little bit harder because individual have to fulfill their need. The first step in order to apply loan from banks is that you have to

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