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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BBBURGER
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looking for investment/business partner - restaurant

Post by BBBURGER » Sun Dec 29, 2019 6:34 pm

Hi guys, this is my first post here.

I'm a professional of the F&B industry, been a chef for around 20 years.I have been working as a consultant/chef here in Phnom Penh for about a year and I'm passionate about burgers, marketing, and business management.

I've got a great spot, 22 seats, with a very slim rental fee, around 250$, around wat botum area. I was about to open a burger joint with a friend as a silent investor but he dropped out due to personal health issues.
The business plan is done, the rentability is quite easy to achieve.
I know it's a very casual way to introduce a business opportunity, of course, some of you will laugh at me, but I thought why not asking here if anyone would like to team up with me as I am so advanced in the project.

I am looking for around 6k USD investment, on total spending of 10k.
That's including:
- Design - Almost finished and paid for already
- Construction - minimal as the place is already set, we're talking about lightning, painting, piping and electrical mapping only, no wall to build nor to crush
- Marketing - I have along the years of running my business learned how-to, so besides facebook, google and TripAdvisor campaigns, there are camera rental fees, that's about it
- Equipment - fridge, freezer, griddle, fryer, kitchen ventilation, sinks, meat grinder, slicer, etc. Already all budgeted
- Furniture - All made in China, imported, so as the above equipment, it all fits in a container. Cheap and fast stuff.
- Stock - I've got already all the sourcing, pricings and relationship with suppliers made over this year of consulting for restaurants and hotels in Phnom Penh
- Cash flow for about 5 months

The previous agreement I had with my former to-be investor was, repaying the investment asap over 5/6months, then he would get a % over not raw profits but total income. As you may know, cuts on profits only are quite subjective due to the fact that the operator can/could manipulate the costs so that the profits appear lower than expected, so to avoid such suspicions, I would rather give a % back on each item sold, redeemable monthly, bi-monthly... depending on the common ground found after contract negotiations. I won't need the cash at-once-run-away-with-it-kind-of-scam but actually more someone who'd do the payments required, when needed, in a timely manner. a proper partnership as one would say.


If anyone interested here, hit me up at bbburgerphnompenh'at'gmail.com

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. I'm proposing a chef-made, 8$+ wonderful experience, crafted with imported meat cuts that we would select, age, trim, and grind daily. A true experience, along with a strong marketing presence, and a very central location at a cheap rental fee. To attract as the white collar khmer, expats and the clients of the hotels located around the area.
There's also a possibility to run steaks in the spot. I would implement that on a weekly special kind of concept.

Here's a picture of what I have in mind, from my former restaurant:
Terry Fishsauce
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Re: looking for investment/business partner - restaurant

Post by Terry Fishsauce » Sun Dec 29, 2019 6:44 pm

Best of luck,Tough business.
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phuketrichard
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Re: looking for investment/business partner - restaurant

Post by phuketrichard » Sun Dec 29, 2019 8:25 pm

it all sounded good an positive till......
"....8$+ wonderful experience..."
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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Re: looking for investment/business partner - restaurant

Post by Phnom Poon » Sun Dec 29, 2019 9:43 pm

there have been a ton of upscale/trendy/franchised burger joints started in the last few years
either cambodians do eat burgers, or these investments have been rash
i'll guess it's half-way between the two, ie partly an attempt to create a burger culture

.

monstra mihi bona!
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clutchcargo
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Re: looking for investment/business partner - restaurant

Post by clutchcargo » Sun Dec 29, 2019 9:48 pm

I see Larry's on st 110 has burgers @ $ 7.50 and cheeseburgers @ $8.75 albeit mainly barangs right?

I would think it will largely depend on the
I've got a great spot, 22 seats
and the clientele in that area.
BBBURGER
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Re: looking for investment/business partner - restaurant

Post by BBBURGER » Sun Dec 29, 2019 10:02 pm

phuketrichard wrote:
Sun Dec 29, 2019 8:25 pm
it all sounded good an positive till......
"....8$+ wonderful experience..."
Yeah, that's also why the spot is small, the beef is imported. not a daily burger, something you bite on once in a while. let's say twice a month. 8$ with proper handcut fries.
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Re: looking for investment/business partner - restaurant

Post by BR549 » Mon Dec 30, 2019 1:00 am

I recently had a layover in Shanghai and ate at place called The Butcher's Shop out of Hong Kong.
Their signature dish was a burger that was sublime with superb fries. I was very impressed with every aspect of the dish.. It sounds similar to what you are wanting to attempt. The meat was ground prime, bun superb, cheddar perfect, bacon was extraordinary, even the pickle was delicious and I usually don't eat pickles. I wanted every dish on the menu and left shocked at the experience.
I wish you all the luck.
I don't think these 50 cent beer drinking folks are going to spend the type of money you will need to turn a profit on your menu.
What is the food cost of an $8us burger?
I don't like PP but I usually stay in a hotel next to Burger King on riverside. It is very busy and has many Khmer and tourists flocking in and out. You can easily spend $10us in there and it is close to a USA franchise experience except it has the same after taste I have experienced in Thailand and other burger joints in PP and Siem Reap. I think it is the aussie beef. The challenge,as I see it , is you want to provide this wonderful burger experience to a class of customer who is looking for a bargain.
I worked as a Chef in super fine dining and top notch hotels for decades and I feel for you brother.
I love your concept.
The people behind the Butcher Block have gone from Hong Kong to several major cities in mainland China.
I believe you can make it.
Just don't rely on expats to be your customer base.
I don't think 22 seats is small for a burger place.
The idea of grabbing togo a fantastic burger fits in with how people eat throughout Asia.
I wish you the best of luck. I can't stand PP and am long in the tooth and retired from F&B after 30 years.
I don't have the fire in my belly to fight the good fight anymore. It sounds like you do and I admire your vision.
One thing I learned is if you exceed customers' expectations and control your costs you can build a reputation and survive.
Good luck finding a partner.
BBBURGER
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Re: looking for investment/business partner - restaurant

Post by BBBURGER » Mon Dec 30, 2019 1:15 am

BR549 wrote:
Mon Dec 30, 2019 1:00 am
I recently had a layover in Shanghai and ate at place called The Butcher's Shop out of Hong Kong.
Their signature dish was a burger that was sublime with superb fries. I was very impressed with every aspect of the dish.. It sounds similar to what you are wanting to attempt. The meat was ground prime, bun superb, cheddar perfect, bacon was extraordinary, even the pickle was delicious and I usually don't eat pickles. I wanted every dish on the menu and left shocked at the experience.
I wish you all the luck.
I don't think these 50 cent beer drinking folks are going to spend the type of money you will need to turn a profit on your menu.
What is the food cost of an $8us burger?
I don't like PP but I usually stay in a hotel next to Burger King on riverside. It is very busy and has many Khmer and tourists flocking in and out. You can easily spend $10us in there and it is close to a USA franchise experience except it has the same after taste I have experienced in Thailand and other burger joints in PP and Siem Reap. I think it is the aussie beef. The challenge,as I see it , is you want to provide this wonderful burger experience to a class of customer who is looking for a bargain.
I worked as a Chef in super fine dining and top notch hotels for decades and I feel for you brother.
I love your concept.
The people behind the Butcher Block have gone from Hong Kong to several major cities in mainland China.
I believe you can make it.
Just don't rely on expats to be your customer base.
I don't think 22 seats is small for a burger place.
The idea of grabbing togo a fantastic burger fits in with how people eat throughout Asia.
I wish you the best of luck. I can't stand PP and am long in the tooth and retired from F&B after 30 years.
I don't have the fire in my belly to fight the good fight anymore. It sounds like you do and I admire your vision.
One thing I learned is if you exceed customers' expectations and control your costs you can build a reputation and survive.
Good luck finding a partner.
you're talking about the butcher's club in hk, it's good, it was better before they franchise out in the whole city of hk.
Butcher's block i'm not sure, but yeah I had good stuff in shanghai as well.

The returns on a premium meat buger is still very good, it requires management, proper chef work. which is the key in my project right there.

thanks for your encouragements mate.
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Re: looking for investment/business partner - restaurant

Post by Lonestar » Mon Dec 30, 2019 3:15 am

I wish you the best of luck, but I don't think there is any way to accomplish what you describe for 10K. Cash flow for 5 months alone would be a min. of 4K. doing the finish out of the space would easily nearly deplete the budget...and that is before buying containers of restaurant equipment.

If you had at least 20K of your own cash in hand, I think you could possibly do well. I hope you can find some way to make it work.
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Re: looking for investment/business partner - restaurant

Post by frizzie77 » 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'...
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