Before I give advice I will let you know my qualifications. I have a BBA and have successfully started and run one tiny company. I am now helping run one small one.
Interest rates are projected to rise and commercial loans already have high interest rates. So that’s risky in itself.
Also for any restaurant the rule is you won’t make money for the first two years and there’s a 80% chance you’ll never be profitable. The restaurant business is very tough. If your friend isn’t telling you this then be very careful about trusting him.
The reason most people sign franchise agreements is because HQ provides a ton of support which they can afford based on economies of scale.
Before starting I’d suggest you make up your menu, cook the dishes yourself, and see if people would be willing to pay for them. Cater your office and see your response. Remember that ingredient costs for dishes should be about 20% of the price.
I’d strongly suggest you go the food truck route. This helps keep salary down, avoids having to pay property tax or rent, and provided a great way to test your concept out.
In summary I’m not going to tell you no. But I will tell you this is extremely risky.
Interest rates are projected to rise and commercial loans already have high interest rates. So that’s risky in itself.
Also for any restaurant the rule is you won’t make money for the first two years and there’s a 80% chance you’ll never be profitable. The restaurant business is very tough. If your friend isn’t telling you this then be very careful about trusting him.
The reason most people sign franchise agreements is because HQ provides a ton of support which they can afford based on economies of scale.
Before starting I’d suggest you make up your menu, cook the dishes yourself, and see if people would be willing to pay for them. Cater your office and see your response. Remember that ingredient costs for dishes should be about 20% of the price.
I’d strongly suggest you go the food truck route. This helps keep salary down, avoids having to pay property tax or rent, and provided a great way to test your concept out.
In summary I’m not going to tell you no. But I will tell you this is extremely risky.