So, I don’t have any assets other than my financed car and a decent savings. I’ve worked in the restaurant industry for over 20 years and went to school for it a long time ago now. Over the years I’ve tried to obtain a different career but nothing has ever stuck. It seems I keep working in food because I’m either a masochist or I actually must like it. I’ve been working FOH for a while, because BOH in a restaurant (even management) doesn’t pay enough or offer any sort of quality of life.
I want to go back to the kitchen though, but I don’t want to take orders from anybody. I want my own business. I’ve worked really hard for the little bit I have, I don’t even have a house…Is it possible I open a small food business on loan (got great credit) and open an LLC and NOT lose the little bit of savings I do have to my name? I don’t have a rich uncle to borrow from if I completely lose my shirt…failures not really an option but…just in case…would the LLC completely protect me, say if I borrowed 100k or so to open a food truck or food cart or whatever??
lol…fair enough.
Thanks for talking me out of it again…surely it’s better than running somebody elses restaurant for less money and control though. I just gotta get out food.
Maybe. Not everyone fails! If you do it, go as small and low cost as possible to start out.
As for being better. Depends. Most restaurants fail. Which means the manager usually makes more money than the owner and has none of the financial trauma.
Think about the fact that even established, busy restaurants always seem to go out of business eventually. Few last 10-20 years or more.