The Celeri Network Use Case
Fiorentino’s was a staple Italian restaurant on the northside of Chicago for years. Frances, the owner, sat at the front table working the books, sipping a glass of chianti, making every patron feel at home. Her son, Steven, had a decision to make: run the restaurant when his parents retired – or set out on his own. He decided to go with the latter, and the family restaurant eventually closed. In time, the third son of four boys established a new partnership and launched two of the hottest, hippest joints in the swank River North area.
“I got lucky,” Steven says with a smile. “Mom and Dad taught me the business; and then I got invited to join one of the hottest restaurant groups in the city that had the connections, capital, and sophistication to contemplate phenomenal concepts – and pull it all off.”
Funding for restaurants tends to come from a select number of highly successful outfits like the Melman family of Lettuce Entertain you fame. Actually, their model is to let someone else put the blood, sweat and tears into the family-run establishment, and then buy them out when the model is tested, proven – and cash-flow positive.
“Restaurants are a finicky business, and they’re not for the faint of heart. Tapping liquidity when you need it is a blessing not to be overlooked.”
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