I applied for an SBA microloan and a local economic development grant. The grants required a solid business plan, but once I secured that funding, I had leverage to attract other investors.
I approached friends and family, but I treated them like real investors. I presented a business plan, gave them equity or repayment terms, and made everything official with contracts. It built trust and professionalism.
I negotiated deals with my suppliers to get extended payment terms and even partial investment in exchange for long-term contracts. They had a vested interest in my success, and it saved me from taking high-interest loans.
Not all investors want to back restaurants, but some specialize in them. I researched firms that specifically invest in hospitality and found one that believed in my vision.
Instead of raising money from strangers, I brought in an experienced chef and a restaurant manager as part-owners. Their financial contributions and expertise helped us scale faster.