FOLLOW THEMONEY By Tracy Morin
Operators offer more tips for raising capital to
expand your pizzeria business.
When John Arena, co-owner/co-founder of Las Vegas-based Metro Pizza ( metropizza.com), with five locations and two licensed operations, wanted to fund his latest venture—a $5.5-million
buildout—he found that the Small Business Administration
gives a credit for energy savings. “If you can demonstrate
that your new building uses significantly less energy than
your other store, instead of you coming up with 25% of the
money, you might have to come up with 20%,” he explains.
After all, every little bit helps when you’re looking to raise
money to expand your restaurant operations. In addition to the
suggestions offered in our print edition, here are some more
options to consider:
The Crowdfunding Craze
If you’ve never relied on the kindness of strangers, now may
be the time to start. Crowdfunding, a new method of raising
capital for business owners, has arrived, generating headlines
and, in some cases, controversy. You can thank the film indus-
try for the latter as some directors and actors have begun using
crowdfunding sites to raise money for pet projects, leaving
many aghast that rich Hollywood types would hit up regular
folks for their hard-earned cash. Mostly, though, crowdfunding
seems to be a benign enterprise, and websites such as Kick-
starter and Indiegogo help aspiring entrepreneurs tap into a
vast network of willing investors who don’t necessarily demand
high returns for their money.
Credits for energy savings from the Small Business Administration
helped Metro Pizza in Las Vegas fund a $5.5 million buildout.
TRAC Y MORIN