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ive always had a dream of opening up my own restaurant food chain and ive been told to go the bottom to top route such as opening up a small food cart/ food truck, im based around LA and have looked up food truck startups an i usually get the answer that i need around $50,000 startup money an especiallly with the heavy competition in LA to be ready for the worst which im up for the challenge. Two things, quick story short i had a friend from college who took out a few loans an opened up a fittness gym/ food truck around venice/LA and within a year both went out of bussiness an my buddie is in ungodly amount of debt which is a horror story i have in the back of my mind, to many mistakes to keep this post short but i was wondering if anybody had any advice on the food bussiness and or any links to help startup a food truck bussiness in LA thanks.
I would say don’t do it. Not a fun lifestyle, super stressful, you’ll be leaking money for years before seeing profit, and the odds are overwhelmingly against you. Of all the people who open restaurants, the majority are like your friend or worse. You might actually be better off using that 50k to gamble on blackjack or something.
Don't invest money in a business you don't know how to run.
Get a job in a restaurant and learn how to run a restaurant. Do this on somebody else's dollar.
Ditto the food truck.
After you know how things are done, reevaluate your situation.
Don't be the sucker with the money.
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TheSaint wrote: wow def will do this, i get what your saying
About 2 years ago I almost started a Poke restaurant in OC with one of the biggest names in the food industry. Long story short, he's a cool guy and from some reason likes helping guys come up, so he gave me shot.
It didn't work out because my partner ended up being kind of shady and my friend who brought me along called me out of the blue and told me to walk away from the deal. I've also worked in the restaurant biz in both fast food and "sit down" places.
The food biz is hard af. Let leave it at that.
There's so many permits you need to even get started for the build out, and for the first year you're going to work all the time to just keep it afloat if you have zero exp. I would have been fine bc I had my buddy who has for 35 years of exp in the food biz, it's second nature to him.
I also became the CEO of my dad's company overnight with zero exp. bc of some drama at work. Long story short, running a biz is no joke. I took a "leave of absence" from the game just to keep my dad's company afloat.
If you've never had a "real job" in the food biz, save your money.
Lay Count: 21 [Taking Hiatus A From "The Game"]
Before GLL: Zero (Virgin)
Echoing what others said. My dad was in a restaurant business his entire life and included me from an early age so I have a fair idea of how things work.
As a beginner, you will get eaten alive. Your odds of making it are 0. For every success story in this niche, there are probably 100s of failures you didn't hear about(depending on location).
Just burying the money in your yard would give you higher EV
I would only do restaurant/bar for status and expect to lose something every month. Maybe with a shitload of experience and connections, you can turn it into the profitable thing but...There are MUCH better ways to invest your time/money.
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