Opening a liquer store, need 5000$ more to open. Any ideas?
My restaurant closed recently. I have a new location leased to put in a small liquer store. All is good, licensing, series 10 beer and wine license. Suppliers handled but with out 1550 to pay license fee 450$ dept health license fee and and 3000$ more for stock. The building lease alone is killing me with out being able to open for sales. I am less then 1000 yards from ASU university. Everything is perfect but I'm still short.
I have been ebaying to keep the lease up but I'm not making any head way with familly bills rent and everything else. Is taking the rest.
I've never had money problems till the restarunt closed but now being forclosed on and having too many bills turned over to collections I can't loan any money any where.
Any ideas of how to get a loan or investor. I can pay a 15% royalty till payed off and with fees and interest I'm willing to repay 10,000 in 12 months. Or any other inventive way some one can come up with.
This Bussiness is under a new LLC I formed a year ago just for this store. It is owned by my late fathers familly trust so none of my old debts will follow in to this new Bussines.
I have farmers insurance on the Bussines with 1,000,000 coverage. I am projected to earn 10,000 per month profit. I'm only asking for the year to pay back just in case. But I will be paying it back as fast as I can.
I'm talking with the local mansion lodge about apprenticeship, but even becoming a 3 degree won't offer me much help till I become closer to the brothers.
Any one with any ideas please let me know..
Talk to some of the business or finance majors at the school and see if they want to invest.1 year ago
The trust opening the llc is why no one can help you, you ditch on the 5k, and there is nothing to go after.
Source(s)by Sing it - 1 year ago
What I'm trying to understand is why would you lease a new space if you did not have the money to purchase inventory or cover any other expenses?
Let's be serious here. $5,000 is peanuts in the business world. You can't even come up with $5,000? And I know enough about the liquor business to know that $5,000 in inventory actually isn't much. Most liquor stores I've seen for sale have $100,000 or more in inventory. Very few have less than that.
The problem someone would have partnering with you is that you will need WAY more than $3,000, and clearly you don't have any money of your own. So if I invest, I will have to keep investing money in order to keep the business going, while you offer me what exactly?
YOU aren't necessary. As an investor, I could simply go get my own liquor license, get my own store, buy my own inventory, and keep all of the profits. What do you actually contribute? You're a failed business owner, in an entirely different industry. There's nothing valuable about you, but I digress.
Again, why would you go bankrupt, then rent a new space if you had no money to operate the business?
I can see why you failed in the restaurant business. You have poor planning, and just assume money will come rolling in. I like how you estimate you'll make $10,000 each month in profit. Based off of what? Some made up numbers? You save up the money to buy the inventory/equipment first, THEN you rent the space. Not the other way around.
You really just ruined that trust your family has. It makes absolutely no sense for you to have done this.