Looking to set up a restaurant

readytorock

Hi all,

Im living in Galway, I'm 28 and I see a huge opportunity to set up a Spanish Tapas restaurant where Im living. Im not here professing to be a chef, restauranteur or any food service experience. I just see the potential and low rent in a vacant premises. Looking for some advice on how to look for funding/loan or just some feedback in starting the business and set up costs. Thanks for any opinions and feedback!

thesandeman

If you are in the city/Salthill area there are already at least four (some more authentic than others) tapas type places around so you will have a bit of competition.

jimmii

Lots of competition in Galway unless you don't mean in Galway itself. With no experience its going to make it even tougher. If you really want to do it I would either partner up with someone who does have the experience or get some experience yourself and then maybe take a short lease and open as a pop-up to see if there is the demand and then take it from there.

readytorock

thesandeman wrote: »

If you are in the city/Salthill area there are already at least four (some more authentic than others) tapas type places around so you will have a bit of competition.

Hi yes in Salthill there is a real opportunity on the main st. Lots of italian pizzerias and a small tapas place beside the seafront that is unappealing. I feel theres alot of potential here. What do you think?

readytorock

jimmii wrote: »

Lots of competition in Galway unless you don't mean in Galway itself. With no experience its going to make it even tougher. If you really want to do it I would either partner up with someone who does have the experience or get some experience yourself and then maybe take a short lease and open as a pop-up to see if there is the demand and then take it from there.

Hi thanks for the advice.
Yes looking on salthill mainstreet. Yes a pop up is a great option tbh. The 3 italian restaurants in salthill are always full. I feel theres room for something different...and more appealing than what is currently available.

thesandeman

readytorock wrote: »

Hi yes in Salthill there is a real opportunity on the main st. Lots of italian pizzerias and a small tapas place beside the seafront that is unappealing. I feel theres alot of potential here. What do you think?

Why do you find the Black Cat unappealing? I know it doesn't really stand out on the street but it seems to do a healthy business. I've not eaten there myself but anyone I know that has rave about it. There is a thread about it somewhere in the Galway City forum.
Rent in Salthill will be cheaper than town alright. As you're not in the business already I think you should team up with somebody experienced, preferably Spanish as this might help get the banks on board. Also getting Spanish/South American staff would make the experience more authentic for customers and will also attract more ex-pats as they will know they are getting the 'real thing'
Have you checked out Lunares in Woodquay? It's almost fully owned and staffed by Spaniards and always gets a large Spanish speaking clientele. To me it's the closest thing you can get foodwise to what I get in Grenada with a few tweaks here and there for the Irish palate.
I suggest your first step would be to go there and see how they do it.
Good luck.

pedronomix

i love good Tapas but a complete novice seeking bank funding to get planning, fit out to FSA standards and learn to cook would want a minimum, I would guesss, of €50K in cash. No bank would lend you anything without back to back cash security or do you have the funds to finance it yourself.