Beat Up Looking for a Loan or investors

[Landshark12000]

I've been trying to get a start-up business loan or investors for a Billiards and Sports Bar!
Banks don't want to touch bars! I've had a few inquires through a few different web-sites that want up front fee's!
I've had inquries from the U.K. but, again they wantup-front fee's!
I know I can make this work but, my start-up costs are $350,000.
I'm beginging to get very disappointed! Need Help!
Any advise other than to quick trying and just give up on the adventure!
Jim

[jasaunders]

It is very hard to get traditional bank financing for unproven restaurants and bars in the United States. The reason is because so many of these businesses fail. The best way to get the funding will through private investors. You should have a well-prepared and thought out business plan and start pitching it to as many wealthy people as you can. If you don't know any wealthy people, you need to ask friends for their contacts and go out and start networking to find these people.

[JMI]

Do you have a solid business plan? You may want to have others go and read through it, just due to the fact that something that may make sense to you may not sound right to someone else. That could be a deal-breaker right there.

Next, have you thought about franchising? A regular sports bar may be risky, but I have yet to find a Hooters or Buffalo Wild Wings that doesn't have excellent business (maybe thats just on my end, but every time I go to BBW I usually have a short wait time, and Hooter's as generally just as packed). You may have better luck with something like that, but keep it mind, franchise or not, if you don't have a good location, you can take a very serious hit.

[Landshark12000]

I've got a business plan, five year projections, executive summary, resume, and floor plans!
The location I'm looking at is prefect! Thier are two other billiards halls in town both during very well!
The liquor sales in Amarillo is huge!
Bank told me that I've got an excellent plan but, bar euipment goes for .10 cents on a dollar. That's why most will not finace!

[BusinessAdviser]

Here's what you need to do:

Start hitting up similar establishments every night. Get to know the bartenders at each place. Talk them up and find out which regulars are loaded (money, not booze). Go meet those people, and when the time's right, throw out the idea that you have created the plan for.

By the time they see your plan, you'll already have:

1. A relationship with them.
2. A common interest in the area of business proposed.
3. A potential investor with deep enough pockets.

[chuff1026]

whats your personal credit looks like
i am sure that you can get financing through either building business credit or a combination of business and personal credit
borrowed money is usually cheaper than "investors"

[Landshark12000]

chuff1026,
What's the cost of building business credit?
I just found out today that the company whom offered to finance to 90% is under investagation by the FBI...
I've posted on several web-sites for help!
Banks and everyone else don't want to know about a start up bar!
Hopeless!
Jim