You will probably discover some of the location requirements that you will need to meet in scouting out locations for your restaurant or bar but you also need to do further research to make sure that your building and your business will comply with the local requirements from the health department, the water department, the sewer people, the trash people, the fire department and anyone else who has a stake in your operating a safe and code compliant business.
Once again by making the effort to understand the rules you can be sure you will meet them and you will have shown your credibility to the funding sources that you know what you’re talking about and that you’ve done your homework.
Nothing will sink your chances of getting a restaurant project off the ground faster than attempting to pitch someone for money only to have them tell you that for one reason or another you won’t be able to open your restaurant or start your bar because of some limitation that you weren’t even aware of but that they happen to know.
Encounters like this shoot your credibility and reduce your chances to practically zero of being able to actually get them to release any money to you because what you’ve shown is that you haven’t done your homework and if you’re not even aware of a simple rule that would keep you from doing what he thought you could do then what other mistakes and problems might you have already overlooked that would put their money at risk?
These rules and requirements are simple enough to find out by just doing some basic research online and in person and even more so by talking to experts in the field who can tell you what’s required and make sure that you are going to be compliant when the time comes to either outfit your location or otherwise get yourself set up to open your restaurant business. Taking the time to do this is a huge credibility builder and shows that you’re serious and someone who is going to make the effort it requires to do things the right way.
As we’ve said before investors are looking for the best return with the least risk and by showing them you know what you are talking about and have handled the details they will feel more comfortable about the overall riskiness of the project and be much more likely to invest. Just think of it as doing homework for dollars and it won’t seem like work at all.