A Recession Restaurant
POSTED: Wednesday, September 15, 2010 - 2:50pm
UPDATED: Wednesday, September 15, 2010 - 9:41pm
EL PASO- He's a little nervous and you can't blame him. Francisco Orrantia is opening a restaurant in the recession.
"There's been times when I wake up and I'm terrified of what I'm doing and things like that," he says.
His place is called Julio's Cafe Corona. It sounds familiar because there's another one on the east side.
His dad ran that one, but when he passed, the business went to Francisco. His first thought was expansion.
"I think it's time to grow and luckily we found a good opportunity," says Orrantia.
So we left his house and got a tour of the build site. It's about halfway done, but it hasn't been easy.
Banks have tightened lending standards, making start up cash harder to come by. Contractors are asking for more money to make ends meet.
And with people spending less, the chance of failure is high. Starting a business hasn't been this hard in a long time.
"The process is overwhelming but if you have the right people and you take it one step at a time it's a lot easier," he told us.
Orrantia enlisted help to get his place off the ground. The El Paso Small Business Administration helped the first-timer meet the right people and find the best prices.
He urges others to do the same. Ask for help, he says, and you can fight off the recession.
The restaurant is scheduled to open in December. Until then, he just hopes everything goes as planned.