looking for investment/business partner - restaurant

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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frizzie77
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Re: looking for investment/business partner - restaurant

Post by frizzie77 » Mon Dec 30, 2019 11:15 am

There are only 2 potential corners on 240/19. I'm quite sure the Khmer restaurant is not leaving and that space certainly doesn't go for $250 a month. So, that leaves only the other corner, which I also doubt would be available for that price.
pczz
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Re: looking for investment/business partner - restaurant

Post by pczz » Mon Dec 30, 2019 12:12 pm

frizzie77 wrote:
Mon Dec 30, 2019 3:28 am
BBBURGER wrote:
Sun Dec 29, 2019 6:34 pm
I am looking for around 6k USD investment, on total spending of 10k.
Do I get this right that the potential partner is supposed to invest more than the original 'chef'/'developer'/'mastermind'/'whatever'?

RRRIIIIIGGGHHHT!!!! That's a real boost to my confidence in the original 'chef'/'developer'/'mastermind'/'whatever'...
Think thats a bit harsh. It is quite normal for investors to put up more than the person who has done the research and will be operating the business.
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Re: looking for investment/business partner - restaurant

Post by Singsling » Mon Dec 30, 2019 1:08 pm

pczz wrote:
Mon Dec 30, 2019 12:12 pm
frizzie77 wrote:
Mon Dec 30, 2019 3:28 am
BBBURGER wrote:
Sun Dec 29, 2019 6:34 pm
I am looking for around 6k USD investment, on total spending of 10k.
Do I get this right that the potential partner is supposed to invest more than the original 'chef'/'developer'/'mastermind'/'whatever'?

RRRIIIIIGGGHHHT!!!! That's a real boost to my confidence in the original 'chef'/'developer'/'mastermind'/'whatever'...
Think thats a bit harsh. It is quite normal for investors to put up more than the person who has done the research and will be operating the business.
It's not a bit harsh, it's outright ignorant. Like he's never heard of seed capital or friends & family rounds.

My 2 cents
- the business plan figures and the amount requested look very low, probably unrealistically so
- the 250 figure for rent has to be verified but that's part of a normal due diligence process, along with meeting the business manager etc to assess credentials and fundamentals.

I'd say this, most hands-on managers I have met have been good at executing and operating a business but completely off target when it comes to managing finances and making money. The idea looks good but I'd treble the initial figures, assuming investing 20k not 6. Also, be ready to lose that money, it might double in a year or fizzle out completely.

Being paid a %age of turnover offers no more guarantee than a %age of profits in a cash only business unless you spend a good amount of time monitoring the operations. Which could be done online with ip cams.
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Re: looking for investment/business partner - restaurant

Post by BBBURGER » Mon Dec 30, 2019 1:27 pm

Singsling wrote:
Mon Dec 30, 2019 1:08 pm
pczz wrote:
Mon Dec 30, 2019 12:12 pm
frizzie77 wrote:
Mon Dec 30, 2019 3:28 am
BBBURGER wrote:
Sun Dec 29, 2019 6:34 pm
I am looking for around 6k USD investment, on total spending of 10k.
Do I get this right that the potential partner is supposed to invest more than the original 'chef'/'developer'/'mastermind'/'whatever'?

RRRIIIIIGGGHHHT!!!! That's a real boost to my confidence in the original 'chef'/'developer'/'mastermind'/'whatever'...
Think thats a bit harsh. It is quite normal for investors to put up more than the person who has done the research and will be operating the business.
It's not a bit harsh, it's outright ignorant. Like he's never heard of seed capital or friends & family rounds.

My 2 cents
- the business plan figures and the amount requested look very low, probably unrealistically so
- the 250 figure for rent has to be verified but that's part of a normal due diligence process, along with meeting the business manager etc to assess credentials and fundamentals.

I'd say this, most hands-on managers I have met have been good at executing and operating a business but completely off target when it comes to managing finances and making money. The idea looks good but I'd treble the initial figures, assuming investing 20k not 6. Also, be ready to lose that money, it might double in a year or fizzle out completely.

Being paid a %age of turnover offers no more guarantee than a %age of profits in a cash-only business unless you spend a good amount of time monitoring the operations. Which could be done online with ip cams.
I see your assumptions, if you are actually interested in investing I would gladly show you the rental agreement I hold on right now
I have researched the prices of every single bit of investment to do, down to the salt shaker.
Monitoring should be done by proper accounting SOPs. as in most suppliers now a days will send you a soft copy of every delivery. so you can precisely understand the real costs, the theoric costs, understand the sales volume required to justify the purchasing. which I recommend more than sitting in front of a cctv recording. cctvs are still necessary though.
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Nicolas
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Re: looking for investment/business partner - restaurant

Post by Nicolas » Mon Dec 30, 2019 4:08 pm

Anyone who managed to get paid as consultant for restaurants and hotels in Phnom Penh deserves my full respect.
Good luck for your burger place, I wish you the best!



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pczz
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Re: looking for investment/business partner - restaurant

Post by pczz » Tue Dec 31, 2019 2:40 am

BBBURGER wrote:
Mon Dec 30, 2019 1:27 pm
Singsling wrote:
Mon Dec 30, 2019 1:08 pm
pczz wrote:
Mon Dec 30, 2019 12:12 pm
frizzie77 wrote:
Mon Dec 30, 2019 3:28 am
BBBURGER wrote:
Sun Dec 29, 2019 6:34 pm
I am looking for around 6k USD investment, on total spending of 10k.
Do I get this right that the potential partner is supposed to invest more than the original 'chef'/'developer'/'mastermind'/'whatever'?

RRRIIIIIGGGHHHT!!!! That's a real boost to my confidence in the original 'chef'/'developer'/'mastermind'/'whatever'...
Think thats a bit harsh. It is quite normal for investors to put up more than the person who has done the research and will be operating the business.
It's not a bit harsh, it's outright ignorant. Like he's never heard of seed capital or friends & family rounds.

My 2 cents
- the business plan figures and the amount requested look very low, probably unrealistically so
- the 250 figure for rent has to be verified but that's part of a normal due diligence process, along with meeting the business manager etc to assess credentials and fundamentals.

I'd say this, most hands-on managers I have met have been good at executing and operating a business but completely off target when it comes to managing finances and making money. The idea looks good but I'd treble the initial figures, assuming investing 20k not 6. Also, be ready to lose that money, it might double in a year or fizzle out completely.

Being paid a %age of turnover offers no more guarantee than a %age of profits in a cash-only business unless you spend a good amount of time monitoring the operations. Which could be done online with ip cams.
I see your assumptions, if you are actually interested in investing I would gladly show you the rental agreement I hold on right now
I have researched the prices of every single bit of investment to do, down to the salt shaker.
Monitoring should be done by proper accounting SOPs. as in most suppliers now a days will send you a soft copy of every delivery. so you can precisely understand the real costs, the theoric costs, understand the sales volume required to justify the purchasing. which I recommend more than sitting in front of a cctv recording. cctvs are still necessary though.
The difficult part is working out how much you are going to haveto pay the police who tend to make ana appearance at various times and working out how many months you will have to pay operating csts and salaries before you tip nto profit. You can use a lawyer to build in an escape. You gree works with the landlord and the costs. If he termiated the contract early then he has to refund you part of the imporvements you have doen. this was done in Snooky with a hotel
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JUDGEDREDD
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Re: looking for investment/business partner - restaurant

Post by JUDGEDREDD » Tue Dec 31, 2019 2:58 am

Good luck with your idea, I hope you manage to find a willing partner and your business is successful


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Re: looking for investment/business partner - restaurant

Post by John Bingham » Tue Dec 31, 2019 3:27 am

BBBURGER wrote:
Sun Dec 29, 2019 6:34 pm
I do understand that the khmers don't eat burgers much, since yes, someone will probably mention that McDonalds haven't invaded the country yet.........around wat botum area....
You really don't understand much if you think that. There were local burger places around Wat Botum park 12 or more years ago, get real.
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Re: looking for investment/business partner - restaurant

Post by Mishmash » Fri Jan 10, 2020 1:36 am

Is this the correct corner and building 240/19?

$250pm is the steal of the century...

Khmer's like food - they like coffee nowadays - popular joints are always packed out.

Domino's near mine is raking it in (I know - not burgers but still reflects the changing times here). I sat and counted is around 20 customers an hour at average 15$ a throw.

The expats are settled in their choice of places and the foreigner tourists are transitory at best.

The parking is the big one issue if you want Khmer clientele.

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Re: looking for investment/business partner - restaurant

Post by frizzie77 » Sat Jan 11, 2020 12:23 am

And with that Google Street View capture of more than 6 years ago, you've now definitely established yourself as ignorant @Mishmash.
That corner is occupied by a quite successful Khmer restaurant for the last 3(?) years and I'm quite sure they are not going anywhere.

This Street View capture is even from after the rebuilding of the place, as I remember it being only the ground floor and later the first floor was added. But maybe my memory is failing me here.

BTW, anyone thinking a place like that at a location like that is available for $250 a month is ... well, I've learned name calling is not appreciated here so I'll leave it up to you...
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