Few of us are considering investing in a restaurant business with shared capital. None of us have experience in this sort of thing. Our neighborhood is one of the best around in the state in terms of medium-income and most of the population is Indian immigrants. We have only a single Indian restaurant within 5 miles of radius. So we are thinking there will be a significant business. We haven't committed to anything just exploring the risks at the moment. Has anyone else tried this sort of a thing?
I'd never invest in a restaurant. Especially if none of you have any experience. At that point, why not just pick a random 1 person startup from a hat and put all your money in them? I'd say that's a better investment
Yeah restaurants are a ton of work with limited upside (unless you pursue a chain/franchise). If you have someone with experience and skin in the game, maybe not a bad thing with some extra cash, but you really need someone who knows wtf they’re doing.
Noted, that's what I was afraid of.
Shit investment.
Just Rent a garage, drink beers with your friends there and call it a “bar”.
Very low margins. Lot of headache with respect to inspections. Unless your place is a crowd puller, your expenses will eventually overrun your profits because low margins and you can't raise price of food by much and not see an immediate drop in customers.
I don't know, it's incredibly hard for a restaurant to please Indian customers, and if you can't imagine leaving 15% tip at your own restaurant, then forget it.
oh man now that you remind me of this
There is probably a reason why there is only one restaurant in a five mile radius. If none of you have any restaurant experience, I wouldn’t recommend trying to start one. The failure rate for restaurants is even higher than the failure rate for tech startups, with much lower upside.
Don’t do it. It will ruin your friendship.
This. I watched a family member open a restaurant with a good friend. Lost a ton of money, and eventually lost the restaurant and their friendship too.
Restaurants are some of the most challenging businesses there are. Definitely not for people without experience. Even with experience the risk is still high. I’ve seen plenty with great ideas, great location, and great planning still tank.
Take all that money you’d put into the restaurant, wad it into a ball and light it on fire. You’ll probably get a better return on your investment. Dude. Unless you already work in a restaurant and know all the ins and outs of one, *and* you are ready to literally spend almost every waking hour in your new restaurant, *and* you get lucky.... restaurants are a horrible idea. Run away....
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What neighborhood has only 1 indian restaurant? Midwest?
Anywhere not in the Bay Area
Like in NYC? /s