How I proved my startup so I could quit my job and feed my passion

Anyone can come up with a “brilliant business idea” but it is quite another thing to put your money where your mouth is, take the plunge, give up your job and commit to making your idea a reality. For many founders of startups, taking the decision to leave your job – and a predictable salary – to commit to building your startup full-time can be terrifying. But it doesn’t have to be. There are steps you can take to prove you have a viable startup which reduces the risk, builds your confidence and makes it easier to attract funding.

David Toscano of Cin Cin Italian Bar & Kitchen did just that and Hatty Fawcett of Focused For Business asked him to share the steps he took to build his successful restaurant business – and what gave him the confidence to give up his profession as a lawyer to follow his passion for Italian food.

How I proved my startup so I could quit my job 800

Hatty: How long had you been thinking about your business idea before you decided to take the first steps in getting your business off the ground?

David: About 10 years. I qualified as a lawyer back in 2001 but was bored of that career about two years in so I started to look for a way out. I spent a lot of time thinking I was not capable of doing anything else.

“I had always had a passion for food and when a friend left law to go into wine, it gave me that little bit of confidence that maybe I could have a second career in something completely different.”

Hatty: Who or what pushed you to take action in creating your business?

David:

“I just did not want to spend the next 20+ years of my life in a job I did not enjoy or care about. I needed to be putting my time and effort into something I had a real passion for”

Having grown up in an Italian family, food was always central to my childhood and something I had always felt comfortable with.

Hatty: What initial steps did you take and why did you choose these steps?

David: The very initial steps were saying yes to catering parties and dinners for family and friends in 2010, even though I had no chef training or experience.

“I did a lot of research about opening a restaurant and quickly discovered it was an enterprise with a high set up cost and high risk of early failure. Given I had never even worked in a restaurant before, this made the jump to restauranteur feel even more precarious.”

So in 2012, I bought a vintage Fiat van and converted it into a street food van which in 2013 I launched as Cin Cin, an Italian street food and event catering business. I started trading at festivals and fairs, as well as taking private bookings to cater weddings, parties, celebrations; all while still working as a lawyer in London.

“Testing my offering in this way was very low risk because I was not reliant on income from the new business to pay my bills and I had set up the business with my own funds.”

I was also aware that I was moving into a completely new sector that I had no experience in so I had no idea whether I would even enjoy working in food & drink. Thankfully, I immediately loved it!

“I spent 2013 testing the business in various street food and private catering events, doing all the cooking myself and calling on family and friends as staff.”

 I was enjoying event catering and starting to pick up bigger events which meant I was turning some good profit but by 2014, I was sure that I wanted to open a restaurant so started to look for a chef to work with to put on supper club/pop up restaurant events. This was because I wanted to take the food beyond the limitations of the van and make the Cin Cin offering more refined. That summer I met Jamie Halsall, who is now my head chef in the business, and we started putting on supper clubs in Brighton, London and Kent. This step helped bridge the gap between the van business I had started and the restaurant business I wanted it to become.

Hatty: What did you learn by taking these initial steps?

David: These initial steps allowed me to test the development of the offering in low risk scenarios – I was still working as a lawyer so was not reliant on the income from the fledgling business to fund my lifestyle.

“I still approached each event with the aim of making a profit, but at that stage it was more about getting feedback on what customers wanted and expected from a new restaurant and more importantly, their feedback showed me that there was a gap in the market that we could fill.”

Hatty: Was there a specific event or turning point that gave you the confidence to commit working full-time in your business?

David: In Spring 2015, the business had grown to the point where I no longer had enough leave days from my job as a lawyer to cater all of the events I was being offered.

“I was turning down work and was extremely tired given I was using all my leave for events. So I made a plan to quit law at the end of 2015 and chase my restaurant dream full time. I have never looked back.”

Hatty: What influenced your decision to raise investment?

David: I opened my first restaurant in November 2016 with my own funds. It was a small 20 seat restaurant, all housed in one room which meant the set up costs were relatively low. By Spring 2017, we were constantly full so I began looking for a second larger restaurant site.

“I needed the investment because I could not grow the business without it. While there was cash in the business given the success of the first restaurant, I did not have enough to build and open the second larger site so I raised finance through a mix of bank finance and asset finance on the new kit we needed to open the new restaurant.”

Hatty: Did the steps you had taken to prove your business model make it easier to raise funding for your business?

David: Absolutely. As above, I used the Enterprise Finance Guarantee [EFG] scheme to access bank finance because the business did not have fixed assets to borrow against. In order to access that finance, I had to submit a business plan with costed financials to show that this step to growth was sustainable.

“All of the testing of my business model and offering went into that business plan and was a key part of the data that convinced the bank and asset finance agency to lend me the money I needed.”

Hatty: Do you have any advice or tips for entrepreneurs thinking about starting their own business?

David: Lean testing – there are a lot of ways to try out what you think you’d like your business to be without risking your personal finances with a loan or spending a lot of your savings. But just as important is that it’s also the best and least risky way to get feedback from potential customers about whether your business model and offering is actually what people want. Be prepared to listen and adjust your offering to suit the market.

Passion – I worked hard to become a lawyer but never had a passion for it. Working on something you do not care about is a recipe for mediocrity or even worse, failure.

“So if you are going to start a business, make sure there is something within it you are passionate about. That passion will drive you through fatigue, disappointment, and little failures while also making success all the more sweet as you’ll have created something you can be proud of. And isn’t that why we become entrepreneurs in the first place?!”

Do it now – you can come up with a million reasons why you should not to take a chance on starting your own business or pushing it forward. I spent the best part of 10 years telling myself I could not do it. But rather than saying ‘I wish I’d done it earlier’, I have always just tried to grow the business day by day and make decisions for growth as promptly as I can.

“There is no point waiting around wondering whether you could be great at something. Do it now.” 

 


Is your Startup ready for investment?

Take the Startup Investment Scorecard to discover if your Startup is ready for investment. Start here

Further reading

Discover how “traction makes it easier to raise investment”

What is the best way to fund your my business?

When is the right time to raise investment for your startup?

Latest Blog & News

Why having a co-founder can make you more appealing to investors.

Why having a co-founder in your startup can make you more appealing to investors

The journey to securing investment is often a challenging one. But, there’s a strategic move that might just tilt the scales in your favour:
problem and solution slide banner.

How to show the problem and solution slides in your pitch deck with a customer journey

Framing the issue – or societal/customer problem – that your startup is tackling, and how it solves that issue, acts as a hook to
Funding for startups: How to raise bridge funding.

Funding for startups: A guide to bridge funding

Pre-Seed, Seed, and Series A are all terms that are probably familiar to you if you have, or are looking to, raise funding for
Redefining angel investment for female founders

Female Founders: Redefining angel investment to inspire inclusion

Friday (8th March) marks International Women’s Day (IWD) with this year’s campaign theme being ‘InspireInclusion’. I can’t help but feel despondent though, last year
What angel investors look for in startups.

What angel investors look for in start-ups

Angel investors play an important role in the growth and expansion of startups. According to the 2021 Scale-Up Institute Annual Review on the State
Pitch deck: Go to market slides banner.

Pitch deck: How to include your go-to-market strategy

A ‘Go-to-market’ (GTM) strategy is a must-have in any pitch deck. It’s where founders showcase their approach for entering their market successfully, and the
Startups Magazine article: How to build confidence before pitching for investment.

How to build confidence before pitching for investment

Presenting is often cited as most peoples’ “greatest fear”. It’s unsurprising then that founders often lack confidence when pitching, especially if pitching is new
Future-proof your startup with engagement marketing.

Master engagement marketing: and you’ll future-proof your startup

Investors expect a clear, well-targeted startup marketing strategy if you are going to attract their investment. But, pre-funding when you are still in “hustle
Startups Magazine: Networking with startup investors banner.

Networking with startup investors: 5 tips to network successfully

Raising equity investment becomes easier when you pitch to startup investors you have previously engaged with or spoken to, or have been introduced to.
Looking for startup investors? Our guide will help

Looking for funding? Here’s your step-by-step guide to finding startup investors

Starting a business is exhilarating, but finding the startup funding to fuel your dreams can be a daunting task. Not only will you have
Startup Funding: A guide to navigating the funding journey

Startup funding: A guide to navigating the funding journey

One of the most frequent questions we are asked is “What’s the best way to fund my startup?” Startup funding doesn’t have to mean
Hatty Fawcett, Finalist in the Great British Entrepreneur Awards 2023

What being a finalist in the Great British Entrepreneur Awards has taught me

My weak spot is I don’t like talking about my achievements. I think it dates back to my childhood when I was told not
How to choose your cofounder

Choose your startup co-founder wisely

So you’ve had a light-bulb moment, a world-changing idea – you’re excited and want to share it with the world. But where do you
Whats the best way to fund my business

“What’s the best way to fund my business?”: Ten founders give the lowdown on the best way to fund your business

One of the fundamental questions, and perhaps the most frequently asked when it comes to business growth, is “What’s the best way to fund
Funding Accelerator Mentor Elliott Gaspar explains what investors look for in a financial forecast for investors

3 Things Investors Look for in a Financial Forecast: The Perfect Blend

Much like brewing a delicious cup of coffee, a compelling financial forecast for investors requires a complex blend of data, strategy, and storytelling. It’s
How equity investors can better support underrepresented founders

How equity investors can better support underrepresented founders

Raising equity investment is a challenge for any startup, but especially for underrepresented founders. They don’t just face “the usual” questions about their business,
Raising investment in difficult economic times

Raising investment in difficult economic times

It’s tough raising investment right now. There are fewer investors and the amounts being invested are smaller. How should startups respond if they still
Jennifer Anderson explains how to weave storytelling into your pitch deck to keep investors' attention

How to weave storytelling into your pitch deck to keep investors’ attention

As founders we’re told to weave storytelling into our pitch deck, but we are not always told why. Luckily Pitch Coach and Funding Accelerator
Is equity funding the best option for your startup

Is equity funding the best option for your startup?

Equity funding isn’t for everyone. When you sell shares in your business you are, effectively, entering into a long-term relationship with your investors. Investors
Funding Accelerator mentor Tracey Rob Perera shares 3 things angel investors look for in your startup valuation

3 things angel investors look for in your startup valuation

Funding Accelerator mentor, Tracey Rob Perera, shares 3 things angel investors look for in your startup valuation. Tracey Rob Perera is not only a
Hatty Fawcett talks to Finance Digest about how - and why - to build productive relationships with your investors

How to build productive relationships with investors

You might think closing a funding round is the end of a journey. In fact, its just the start! Now comes the hard work
Funding Accelerator Mentor Chris Booth shares how to expand your team without it costing more

How to expand your startup team without it costing more

Funding Accelerator expert mentor Chris Booth of Findrs explains how to expand your startup team (and extend your headcount budget) by using AI. When
Hatty Fawcett Adviser of the Year 2022

Start-up funding adviser, Hatty Fawcett, wins Enterprise Nation Adviser of the Year 2022/23

Over the last few months, start-up founders and small business owners across the UK have been voting for the best and brightest business advisers.
How startup accelerators increase your chances of funding

How startup accelerators increase your chance of funding

While I’ve written before about the benefits of joining startup Accelerators (find out more here), now seems like the perfect time to revisit the
unit metrics that attract startup investors

3 unit metrics that attract startup investors and build a compelling story of growth

Did the conversation with potential investors fizzle out at the financial stage? It’s not just the vision, but the focus on detail that secures
Panel members at How to find and impress investors June 2022

How to find investors, and impress them

Have you ever wondered what it takes to find and impress investors? Well, who better to ask than leading VCs and angels themselves! Earlier
financial-forecast-charting-growth-1200-1

Investing your time where it counts – the numbers

How the right financial forecast is crucial to unlocking startup investment If you’re looking to secure startup investment, it’s inevitable that at some point
Find-investors-by-Herbi-B-from-pixabay

How to find investors for a startup…quickly!

A recent report from Beauhurst and SFC Capital* reveals that it takes, on average, 15 months to find investors for a startup and close
Should you raise startup funding from family and friends no words

Should you raise startup funding from friends and family?

So you think you need to raise funding for your startup? You may be right, but before you begin to raise startup funding from
7-Essentials-that-unlock-startup-equity-investment-600

7 Essentials that unlock Start-up equity investment

Start-up equity investment: Investors look for 7 Essential ingrediants when deciding whether to back a start-up – or not! Be succinct to get attention
Financial savings mechanism. Piggy bank formed by gears and cogs

Traction makes it quicker to raise funding for a startup

So you want to raise funding for a startup? To succeed, you’ll need to speak the language of investors. Investors will ask “how much
7 mistakes that stop you raising investment for your startup no words

7 Mistakes that stop you raising investment for your startup

Startup founders are resourceful and move quickly but sometimes that haste can work against them. They make mistakes. When it comes to raising investment
Doors within doors kilarov-zaneit-KjqNGd0sCTQ-unsplash

Why your executive summary is your most important investment document

When seeking investment for your business it pays to think like an investor, giving an investor the information they want rather than telling them