I think I've come to believe that this bold statement IS THE foundation and ticket to (outside of your food being good to begin with) building a successful BBQ business.
I do not own a BBQ business myself, nor have I slept at a Holiday Inn. But I know three people who are and two of the three are successful and the other one has been out of business and buried in debt for four years now.
The two successful ones, started out with catering small jobs, then got into concession/vending, built a "clientele" and step by step got to the point where they opened up a small restaurant that has now turned into a not so small.
The other guy dove head first into the deep end of the pool. Took out a ton in loans, spent a ton on overhead with fancy neon lights, beautiful decor in and outside the restaurant and within two years went out of business.
Originally Posted by PorkQPine
Going into debt to start a catering business or restaurant when you have no experience is guaranteed to be a loser. Your 'micro' lenders will end up losing and I bet they are relatives so you will not only lose their money but also their friendship. Start with what you can fund yourself and do catering jobs until you build up a following, save your profits and reinvest in the business until you can fund a larger operation.