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Opening a Restaurant or 2 in coming year

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  • 18-10-2020 2:54pm
    #1
    The_Kew_Tour
    Registered Users Posts: 34,044 ✭✭✭✭


    Just quick question.

    Myself and few friends are in process of opening restaurants (we keeping tabs on how covid goes) just wondering where is best place to look at for maybe getting Grant's etc from government. Not looking for somthing for nothing but in this climate just wondering would we be able get support in these times.


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    #2
    duffysfarm
    Registered Users Posts: 846 ✭✭✭duffysfarm


    as far as i am aware the majority of grants are for existing businesses effected by covid. there were no grants to open restaurants pre covid and i dont think this has changed. i would say there are grants to employed long term unemployed eg jobsplus.
    your local enterprise board would probably be best at this kind of advice. maybe see if they have a start your own business type of course


    The_Kew_Tour wrote: »
    Just quick question.

    Myself and few friends are in process of opening restaurants (we keeping tabs on how covid goes) just wondering where is best place to look at for maybe getting Grant's etc from government. Not looking for somthing for nothing but in this climate just wondering would we be able get support in these times.


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    #3
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    Why not open 5 or 6 and get loads of other people's money to take the risk.

    Sorry for the dry comment, but thinking of two restaurants and hoping there are grants for that would suggest that you have done no research on a business plan.

    There are no grants, but you may be able to get a tax rebate on tax paid in the past 6 years

    https://www.thinkbusiness.ie/articles/tax-back-for-irish-startups/

    But you need to put your money in too and also the restaurant trade has more failures than any other trade.


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    #4
    YellowSheep
    Registered Users Posts: 384 ✭✭YellowSheep


    There was never a grant available to open a restaurant. And to think about opening one during this pandemic is in my eyes a silly thought.
    However, you should work on your concept and business plan and get your ducks in a row, as in the new year plenty of existing restaurant spaces will be available for little money and rent.
    And whatever concept you are dreaming up, make sure it's pandemic proof, ie. Can trade as a delivery service etc.
    Good luck Oliver


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    #5
    Dempo1
    Registered Users Posts: 26,924 ✭✭✭✭Dempo1


    Commendable ambition but not sure about the timing. You'll know that of all sectors hammered by this pandemic restaurant and bar sector worst hit. Re grants, as has been posted, there's no grant aid I'm aware of for new restaurant business's, current grants be offered are for existing businesses struggling.

    Failte Ireland or regional bodies may offer as stance, advice etc but generally limited and for designated tourist locations etc.

    I genuinely worry about the entire business model that is sit down dining. Whilst the pandemic will end, I fear the business model that primarily survives on numbers /covers is going to find it very challenging and for a number of years. I spent 30 years in the sector, Restaurants, Super pubs, hotels and worked international and most of my contacts agree the immediate future looking quite bleak. I also had my own restaurant in a big tourist spot for 7 years. I learned to adapt and managed to trade all year round but being adaptable and being the main chef helped.

    I wish you well but seriously do your research.

    Is maith an scáthán súil charad.




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    #6
    markymark21
    Registered Users Posts: 595 ✭✭✭markymark21


    No grants will be forthcoming from the Government although microfinance will offer loans of up to 25K for startups with interest in and around 6.5%

    Although whether they see F&B are a viable option remains to be seen. Certainly, if you can do half-decent take away trade it could be possible to weather the next few months until we're allowed to have patrons inside again. Lord knows people are and will be gaging to go into bars and restaurants

    If you have sufficient capital it is a great time to buy a premise with plenty of pretty cheap options (and no doubt more to come) on daft.ie


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