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I inherited a steak house from my grandfather What Do I DO Now>>?

I inherited a steak house from my grandfather.. What Do I DO Now He died 2 months before he opened it. I dont have the money to open it, and I cant barrow money to open it, Banks are nerves about loaning money on Restaurants. It has all the equipment needed to be opened up. I'm lost. Any body know anything about restaurants and want to help.. This place could be a real big money make.. Want to be involved let me know..

Public Comments

1. tell me where it is i love to eat steak
2. Unless I knew what I was doing, I would sell it. Sure, you could make a ton of money running it, but only if you knew what you're doing. Otherwise, you could wind up running it into the ground and getting nothing out of it.
3. My mom has owned restaurants all my life..... email me I'll help you, where is this place and how many does it seat?
4. Eat lotsa steak
5. well, if you say there is $$ to make...go for it...ask your family to help...what job do you do now? is it worth changing jobs? if i was in your shoes,,,i would go for it..your grandday thought it be good and he left it with you.....so run with it....
6. the bank wouldnt even lend you money for inventory to get started? I would think that there would be enough value in the place itself that it wouldnt be a risk to them. Talk to another bank. Good luck to you.
7. check for business loans on a federal level you might can get help that way or you can auction the business for a partner and let them have 51% of the business and you can own 49% if you want to be involved in it you could be partners like that umm if you have any more questions let me know I will help as much as I can I almost let you get away on this but you can get a loan from a bank use the resteraunt as collateral and keep trying someone out there will help
8. Get a couple of partners that have an interest in restaurants. One who has some financial resources to help get the steak house open. One who can cook. (Maybe you? or a Family member?) Opportunities usually arrive wearing work clothes. Chances are that the restaurant concept, and its all important location, were researched very carefully by your Grandfather. You may be sitting on a gold mine, if handled properly. Oh - have you thought of partnering with another restaurant - not necessarily local. There may be a successful steakhouse in another community that may want to expand. Lots of opportunities. Don't panic. Think things through. Can you find useful connections from your grandfather's records... Good Luck!
9. IF and that is a big IF you want to open a restaurant . Find a way to do it, only if you have experience and want to do it. Else find a number of business liquidators for info on closing and selling out. Grieve your grand dad but don't mess with it on his account or memory. You will get burnt.
10. If he actually owned the building where the business is in then you can either sell or lease the property using a commercial real estate broker-agent. If it is just the business that he owned, there are agencies that can help sell that too. Have you ever worked in the food industry? Just having the key doesn't mean you can be a success. Knowledge is the key. I might be able to help more but I need to know more about you and your past experience.
11. If you will email me and say yes or no I will give you a friends name and email address. He has been in business for himself for a Long time and know the restaurant inside and out. I am sure if you email him with toy dilemma he will give you sound advise.