Background

Our clients, Miguel and his wife, Liana, and his brother, Joshua, had a dream to open a restaurant and make their mark on their community in Southern Florida. The trio had been successful in other business endeavors, but this was their first restaurant venture, and they were unsure of where to begin the planning and preparation.

The three turned to Filthy Rich Idea for business formation, startup funding, and business management. After consulting with the team at Filthy Rich Idea, they discovered some of the main challenges they would face in starting a restaurant.

Challenges & Solutions

The first challenge was securing enough funds to get the restaurant off the ground. Most restaurant owners need to cover startup costs such as equipment, utilities, and building renovations. Depending on the type of restaurant, there may also be additional costs related to licensing and permits.

The team at Filthy Rich Idea was instrumental in helping them secure the necessary funding and resources to open their restaurant. We connected our clients with investors, subcontractors, and local authorities, and provided guidance to complete the necessary paperwork to establish their business.

 

To address the marketing challenge, Filthy Rich Idea developed a comprehensive marketing plan for the new restaurant. The team developed an online presence for the restaurant, created a logo and branding materials, and worked with local influencers to promote the restaurant.

The third challenge was business management.  Filthy Rich Idea provided professional business management services along with software to help them run their restaurant and keep it operating smoothly. The team provided training for the employees through Filthy Rich University, developed a system for tracking inventory and finances, and crafted policies and procedures to ensure that the restaurant ran efficiently and had a positive customer experience. They utilized:

Overall, the assistance provided by Filthy Rich Idea was invaluable in setting up the restaurant and helping it become a success. The teams help with securing funding, building a strong marketing presence, and providing professional business management enabled this team to open their restaurant and make their dream a reality.