Recent content by Pegarella

If you’re still in the area, try Paese Mio on 6561 Tilghman St. See the owner Marco (Mike). Great food. Umm…Td VP I’m glad to know that such a lame brain moved out of our area…Carraba’s , Wegmans ??? commom… The only place for a the real dea cheesesteak is South Philly…not off 78 !

*No Money *No Collateral *No Business Experience (delivery doesn’t count) *Poor Credit = No way loan Stick to Biology Dude !

CPA firms can help. Call medium to large size firms. Most often you will find the firm will have a few on staff with existing restuarant owners in their portfolio. Likely won’t be too cheap however.

Re: Whats the average you spent setting up your pizza busine He’s right on… CASH IS KING. As a Commercial Banker for 15 or so years, I can tell you if you don’t have cash in the deal don’t waste your time. I’d say you will need at least 30-40% cash in the deal, good credit, solid biz plan, and...

I think Patriot hit it. You sound like a very hard working, educated person, but I guess I just don’t understand T & B as a pizza consumer (thought you’d like to hear from a consumer as well). If there are 4 or 5 other Pizza places near you that serve relatively good pizza, people (IMO) are not...

Great ! Service and care for you & your business is more important than convenience. Keep in mind also that your CPA should serve as a financial consulutant to you and not just count the beans. He or she will likley be able to recommend a bank for you. In fact, CPA’s are probably our biggest...

Integraoligist, I’m sorry to hear this news. If your business tax return (I’m assumming you are an S or C Corp.) is showing a loss another bank is not going to be much help. If you are truly losing money, there is not much you can do through traditional banks, however if you are making enough...

I would be absolutely honest with the request. Yes, ask for a business loan. Look for a $50,000 term note for 5 or 7 years. Additionally, ask for a $10,000 business line of credit to give you some flexibility on cash flow. Only use it for cash flow, not purchase. Pay it down as soon as you have...

Integraoligist, A lot of excellent advise here on the forum. If I may suggest a couple of things: · Do talk to 2 or 3 Bankers, but don’t apply to all of them. Choose one and don’t base it on price (interest rate) alone. Look to see who you jive with. Get someone with common sense and...

I’ve been a Commercial Lender at a mid-size bank for a number years. It’s pretty much absurd that a bank told you “no one does that any more”! Maybe that was their easy way of telling you no. Go to a small to medium size bank and begin a relationship with a Small Business Lender there. Ask your...

Pizza Dreamer, Take this lady’s advise ! I also live in Valley and have long wanted wanted to open a pizzeria. In my estimation the Valley is satuaratued with Pizza restaurants (perhaps because of the New York City migration out here) . Don’t give up your life for $10,000 a year (or likely...

It’s going to be tough for you to find financing. Restaurants have always been on the high risk list for banks, but in bad times, forget about it. To help your chances you will have to offer hard collateral, i.e. real estate with good amount of equity, or marketable securities. Or maybe a parent...

As long as you don’t have a exclusivity contract with Coke or Pepsi, you should be fine. If the volume is there you can also get them to give you cooler rental fees to promote their product or even negotiate your price a bit…If however you do sign on with them and you started buying the...

Nick, Thanks for taking the time to give me your thoughts. All issues that you raised are valid ones and are particular to my situation, which gives me a lot to think about. The area at best is stable, but the overall economy really scares me with higher costs of goods and less descretionary...

Hello George, Honestly, I don’t know yet because there is some definate reconfiguring that I will have to do. I do know it won’t be a large space. I was sort of envisioning a separate small counter, 4-5 tables and the space needed for a mixer, cooler, prep table and oven. Speaking about ovens...