I want to open a restaurant but I don't have any capital and I'm from a lower middle class family so I can neither leave the job at once to follow my dreams nor I have any financial support from other sources. I've done my MBA and Business Analytics and working in a Hospitality Industry since last 12 years. How can I start up with my own restaurant?

Ans: In whatever is your area of interest, talk to as many experts and consumers you can.. evaluate if your idea is solving a real problem that your potential consumers face. Fine tune your business idea. Then again talk to people if they are willing to pay you money to sort out the problem.. and how much. Concurrently, talk to experts on the cost of solving the problem/ offering the solution. Wherever you think the cost of solution is lesser than what people are willing to pay, is a good idea to work on prima facie. Then create a detailed feasibility report. Take help of some expert at this stage. Understand the investments and evaluate how you will need to fund the business initially. See if you can get some grants / seed funding. Typically seed funding is through friends and family . There are also a few govt schemes for entrepreneurs- see if you can get some grant/ financial assistance under these schemes. Put some of your own money and start implementing your idea in the mean while. Don’t be over optimistic in your planning. Work for the best but be prepared for the worst.

Ans: Best to rigorously research and find out a business idea, that you would like to venture into, else it will see the same fate as your first business. Remember that entrepreneurship is more difficult than doing a job, so reconsider why you dont want to work in a company and have your own venture.

Ans: Hi Anil, It would be difficult to raise funds to start a cafe, except from friends and family. So if you are not able to raise through this channel, and do not have funds to start on your own, please drop the thought for now and actively search for a job.