Business Finance for a Take-Away/Fast Food Company

When starting a take-away/fast food business the one thing you need is finance. There are lots of things you will need money for including rent, legal fees, stock, equipment, payroll, insurance, advertising, accounting and of course taxes. These are only some and you will need a lot more. The first place you might think of looking is in a bank. The trouble with bank loans is that most banks will expect you to put some of your own money into the business plus they have huge interest rates which might be a bit off putting.

The most common places that people seek business finance are:

• Personal savings
• Bank loans
• Venture capitalists
• Business angels
• Credit cards
• Family/friends

Before seeking out and choosing your avenue for business finance you should have written a well thought out and structured business plan, outlining your financial forecast, business objectives and who you are marketing.

If you need help or advice whilst writing your business plan then we can help you produce it to a high standard.

You should also take into consideration what your take-away/fast food company is going to offer, what your Unique Selling Point (USP) is. Are you just going to have a specific choice of food or will your menu offer a broad range?

On completion of your business plan you can start to approach lenders/investors to gain business finance to cover the start-up costs of your business.

Angel investors or Business angels can be a great way to finance your business; they will often be entrepreneurs that have successful businesses of their own. Many angel investors look for new businesses to offer advice and then use their money to invest in the hope they will get returns on the money they invested. They will only invest in a viable business and will want to see a professional business plan.

Business angels are ideal for new businesses as they can support you financially as well as giving you all their advice and experience. They are often called business angels as they save struggling businesses who no one else will help.

If you need funding for your take-away/fast food company or want to find someone to invest in your business, we are here to help you. We can advice you on the best way to finance your business and put you in touch with business angels or venture capitalists.