Is it wise to use every single penny i've saved up to start

Every single penny seems excessive. Any emergency rolling around could be pretty bad without a little safety cushion.

It really depends I guess. If you could still get credit relatively easy it's less of a problem to invest all of your available funds. But it's definitely unwise to go all-out and max out your credit to start a business. You need wiggle room in your calculation. For your business plan you should already include a worst case scenario, but personally I'd feel uneasy without adding a little buffer on top. Your first business is tough and it's easy to overlook some money sinks.

Are you incorporating an LLC or will you run on personal liability?
How much do you reckon you have to invest until you hit break-even and when will it be?
What is your monthly cost of living?

>>1684752
Fuck me for a second I thought you had $240k worth of pennies you've saved up. I thought the amount must be a typo.

>>1684752
So what's going to make you stand out compared to Subway, Firehouse, Quiznos or anything else in your area?

lol food places, have fun closing in <2 yrs. Limited leverage and location dependant. think bigger.

If you're starting a food place make sure it's got a small focused menu and a nice aesthetic/theme.
That's all it takes, if your food is good and staff is nice your restaurant will do well.
Invite local reviewers and bloggers to start and the rest will follow.
Best of luck!

>>1684752
Resturants have shitty margins. Don't do this until you've saved up a few months' living expenses.

>>1685392
>a few months' living expenses.
so optimistic

>>1685394
I'm assuming OP knows what he's doing. If not, he should just put the money in SPY.

>>1684752
>Is it wise to put all your eggs in one basket?
Never put all your eggs in one basket.

>>1684752
Posting again OP. Make sure to have a great location. So important. Something like a trendy/hipster location can have people going in not caring if they've never been to the place before but on the contrary, will want to try the place. Good presentation will bring people in. Of course make sure everything looks clean. Then finally make sure the food is real good.

>>1684752
Give Taleb's books a read first.

File: melt value.png (62KB, 957x429px) Image search: [Google]

62KB, 957x429px

>>1684906
that's only 24 million pennies
if they're copper pennies (pre-1982), he can melt them and sell the copper for almost 400k dollars. beat that!

>>1684752
Thats very wise. As the old adage goes "put all your eggs in one basket to easily carry them"