TheStreet.com:  Entrepreneur Small Business Success Stories

Getting seated at Bogota Latin Bistro ona Saturday night requires patience. Nestled along Park Brooklyn's 5th Avenue (aka "restaurant row"), the Latin fusion eatery boasts waits of as long as an hour on weekends. "We kicking butt," said co-owner Farid Ali, who is half-Colombian and half-Palestinian.  "Our first year we had more than $1 million in sales. I'd like to think that with continuous hard work, we can double that [in the second year]." 

Ali's life partner and Bogota's co-owner George Constantinou had always dreamed of operating his own restaurant as a child.  It was either that, or owning a radio station. But, his passion for food, service and Latin culture [George is half-Costa Rican and half-Greek Cypriot] trumped his broadcasting goals, especially after five years of managing the Night of the Cookers, a continental American restaurant located in Fort Greene, Brooklyn.  "After my first week as manager, I knew I wanted to go into business for myself," said the 30-year-old.  "I believe a lot in fate and I just plowed right ahead," he said.

It took a little bit of convincing to get Ali onboard, they both admit.  The 41-year-old had spent the past 15 years working in corporate America as an information technology specialist and web designer.  "I had no idea what it took to run a business," said Ali.  But now he says he sees how his past professional experiences are playing a big role in managing the restaurant.  "I bring more of a corporate - driven culture to the business," he said.

To help finance the launch, Ali emptied out the equity in his Brooklyn home which he purchased with money borrowed from his 401(k).  The couple also used the $20,000 they won in a business plan competition for small business start-ups in Brooklyn  called "PowerUP:  Your Business Starts Here."  (See below for more information). 

To keep the momentum building amid the City's cutthroat environment for new restaurants, Ali and Constantinou are taking advantage of the 1,700 square foot space for hosting large, private events and parties.  "With a controlled group, sometimes it can be more lucrative than a busy Saturday night," said Constantinou.

"PowerUP!  Your Business Starts Here"

is an annual competion to help applicants start a business.  Backed by the Brooklyn Public Library's (BPL) Business Library in conjuntion with CitiBank, three winners will receive cash awards for entering the best business plan to start a business in Brooklyn.  This year cash prizes of $15,000 for first prize and $5,000 for two runner-ups will be awarded.  Applicants need to be 18 years of age or older, live in Brooklyn, be a legal resident or US citizen, and wish to start a business in Brooklyn.  For more information, visit www.Biz.BrooklynPublicLibrary.org or call 718-623-7000.