Hi. I a first timer on this forum and wanted to introduce myself and ask some questions. I've wanted to start a business ever since I was younger but never knew if this was what i wanted to dedicate my life to.. Im 22, currently at university, but don't see it as the best course of action for my life. With the over emphasis with getting a degree, I dont think i stand much of a chance to land a desk job (even though i would not want that). I've been advised that the time of risk and high payout would be while I was young, as to if I were older and need stability and security. Oh by the way i am studying administrative studies, and am actually taking a small venture course. Basicly, I want to start up a business in the food industry, more specificly asian cuisine, from a restraunt at my university (which im so sure that it will fly, although I keep an open mind that I may be overconfident in my ideas), and a fast food joint in the food courts at the mall (this type of food is not offered anywhere but at Chinese places and my goal in this would be to cater to people who don't really go those places because it may make them feel uncomfortable or where they think they may not feel welcome), i could honestly see a future for this type of business and possibly opening more than one in the future. My restraunt idea at my university would have a higher success rate but I dont see me opening more than one. So those are my ideas. I plan to open one of these with 2 of my good friends ( I hear all this talk about this is not a good idea, but I wouldnt trust anyone else and I think we work good as a team, and feed off each other's support). I do play poker and juggle school at the same time, I am only mentioning poker because its my only form of income, I have alittle over 20grand and estimate to have about 30-40 come September (that is when I plan to drop school by the way, only if I can actually start the business, meaning I can get the lease and such, cause I dont think my ideas would work anywhere else). But the plan is that me and my 2 partners pull in 30-40 grand each and maybe offer some shares to family members to help with the financing. I am going to start my business plan this week (its actually a assignemnt for my small venture class but I take it much more seriously. Id rather get an F than loose my money).

I was wondering some things I should consider
1) what are important things I should consider when talking with the land lord
2) which idea you guys think I should plan for? Small restraunt at my university with a higher success rate but lower profit margin or the other which in my opinion would be much harder to implement but payoff is much much bigger
3) I know this is up to me but you guys think I should finish school? to many traditionalist they would say im dreaming and to hit the books (thought I would ask for your opinion anyways)
4) Does Liability insurrance cover employee compensation? and stuff like that? what type of insurrance would be good to get in an industry like this?
5) If me and my friends pool 90 grand, you think we can get a loan to cover the rest of the start up costs?
6) Whats your opinion on used equipment vs new.

Well thats about it.. Wow, this is one long message.. If you are still reading this, I appreciate your interst.