/biz/ - Business & Finance

>>15995746
(cont)
Some PROS include the ability to fully design and operate a bar from menu to decor with very little investment. A potential for profit that scales with our efforts. A good learning experience. A bar that needs very little rehab to bring it up to par.

Some CONS include the restaurant owner having the liquor license which could get revoked by some mishap on the restaurant side. The kitchen not being able to handle the influx of new food orders, or some other kitchen mishaps such as quality etc. Among numerous other things that may be outside of our control.

I would love to hear any advice on how to create this partnership and whether or not investing our money up front makes sense. We would love the opportunity to do this, but don't want to be hung out to dry either. Thanks for any opinions positive or negative.

>Marrying a chink

Yikes

>>15995749
>>15995746
you posted this exact thread yesterday
i asked where you were located
you did not respond
fuck you

>>15995746
Might want to check with your landlord before just starting a new use. This sounds like a half-assed plan

>>15995907
he said the landlord is cool with it

>>15995835
>>15995835
youll never know the support and love marrying a 3rd worlder

they love you no matter waht

they are the most loyal

t

>>15995746
On its face, it seems reasonable. However, you absolutely need to make a formal contract stipulating conditionals for the exact concerns you have raised:
>>15995749
Otherwise, your costs will balloon to include costs for the restaurant, not just the bar. You also need to clarify who actually owns what and who has the final say on things. If you don't actually have any control, you're just giving money to the restaurant owners and they're taking on no additional risk. Make sure the finances are walled-off, or at least that all of the money you put into the bar is guaranteed to be returned to you if your relationship with the restaurant owners go south.

Outside of the contract issue, any new business is a gamble, so you just have to be comfortable with that.

>>15995746
>zero business as no one wants to drink in a Chinese restaurant, understandably.
What if that isn't the reason there is no business for the bar?
What if the location just isn't right for that kind of business?
Because:
> he has hinted already about us putting some money into the renovation as a way to show our long term commitment to the project
Is it a large investment? An amount you are willing to lose? Because the business flopping is a real possibility. Just because the Chinese restaurant is already established does not mean the bar will succeed.

>>15995952

>>15996020
at least im happy, at least im loved and adored.

at least i have a blowjob whenever i want

>>15995863
K. Midwest USA.

Also yes landlord is cool with it.

Someone suggested we negotiate using sweat equity. IE get a quote for painting (say $1000) and then do it ourselves equating to $1000 worth of our money put in.

Also perhaps buying all the liquor so that if it all goes south we can sell it at cost and move on easier.

Any other suggestions are appreciated. I could see it getting messy but with the right terms it could be a great deal for us.

>>15996748
some places (ones with laws, basically) might/would regard this as a seperate business. You then be selling liquor without a license, which is why Fang here wants your names down as responsible. Also, shared toilets can be dubious. but. whatever. Post a floorplan if possible

>>15996848
This...check with the liquor license board first, you can’t just put up some walls in a restaurant and open a side bar. There are fire codes, ventilation requirements, minimum exit points in case of fire, etc etc. In fact, you might require a whole different license to operate a bar that is totally separate from the requirements of selling booze in a restaurant.

Also check with the restaurant licensing board or whatever you have there, I’m not sure how they do it in the US, but like I said, you can’t just start doing random construction in a restaurant cause there are many legal liabilities that come with it.

>>15995863
K. Midwest USA.

Also yes landlord is cool with it.

Someone suggested we negotiate using sweat equity. IE get a quote for painting (say $1000) and then do it ourselves equating to $1000 worth of our money put in.

Also perhaps buying all the liquor so that if it all goes south we can sell it at cost and move on easier.

Any other suggestions are appreciated. I could see it getting messy but with the right terms it could be a great deal for us.

>>15997525
Oops repost. OP here.

But anyway yes to the above. I'm cautious and apprehensive about building codes, liquor license issues etc etc. We need to speak with the city before beginning any construction and will do this. Appreciate the feedback.