likelyhood of getting a seller. PLEASE HELP!

[investopediafreak]

hi,
I am attempting to buy a small restaurant business, one which costs between 250k and 500k, and profit is roughly 75k through 200k.(i.e. I don't know the exact business I would like to purchase), if possible.
HOWEVER, I have some problems.
1. I have just gotten out of college. (I'm 20)
2. I have no capital, therefore need 100 percent financing.
I have nobody to cosign any loan.

On the other hand
1.I have two years experience as the manager
of a restaurant.
2. I am a college graduate.
3. Most sellers who give financing believe that
their businesses will be very stable (otherwise they
wouldn't give the financing)
and most importantly.
3. I AM WILLING TO GIVE THE Sseller/ financier a
20 percent+ apr rate, because I am only look to buy such a businessin order to get my feet wet in the resteraunt business.
I intend to, later, buy and sell businesses for a profit,
by increasing each individual businesses' profit.


SO.... any input as to whether or not I could secure
a small restaurant business, or how I should go about trying.

[idealcost]

I don't know much about the restaurant biz, but I imagine that you could run into an issue as restaurants are typically very expensive to run so you may need a lot more money than just the up front amount to buy the business. Are you looking to do this alone? I think that you will probably need at least one business partner to take this on. Additionally, you may have some experience managing a restaurant, but there is a whole lot more to owning a restaurant than managing a team. There is probably as much or more work that goes on behind the scenes including sales and marketing, PR, big picture goals, etc.. Have you ever taken a course on business?

[rogercbryan]

hi,
I am attempting to buy a small restaurant business, one which costs between 250k and 500k, and profit is roughly 75k through 200k.(i.e. I don't know the exact business I would like to purchase), if possible.
HOWEVER, I have some problems.
1. I have just gotten out of college. (I'm 20)
2. I have no capital, therefore need 100 percent financing.
I have nobody to cosign any loan.

On the other hand
1.I have two years experience as the manager
of a restaurant.
2. I am a college graduate.
3. Most sellers who give financing believe that
their businesses will be very stable (otherwise they
wouldn't give the financing)
and most importantly.
3. I AM WILLING TO GIVE THE Sseller/ financier a
20 percent+ apr rate, because I am only look to buy such a businessin order to get my feet wet in the resteraunt business.
I intend to, later, buy and sell businesses for a profit,
by increasing each individual businesses' profit.


SO.... any input as to whether or not I could secure
a small restaurant business, or how I should go about trying.

Sorry will NEVER happen. Move on to the next idea. People will rarely self finance anyone let alone someone with no experience. You need to go work at a restaurant before you think you can buy one. It is somewhat a sign of immaturity to think you can buy and run a business when you have zero experience. You are bound to fail with that kind of (well lack of ) planning. A more mature goal would be to say you want to own a restaurant by 25 or 30 and then make a plan on how to get there.

[internetheaven]

Aye, I think starting at $500,000 is not just setting the bar high, it's hanging a noose from the bar ...

[zhenshou]

hmm the budget you have estimated for running a restaurant is quite low..other options is to buy some running restaurant franchise first and then invest the income in your own brand name restaurant