New to the Forum and Business- Need advice

[AmandaParker]

Hi everyone! My name is Amanda and I am new to this forum and business. I know these questions have been ask millions of times but I want to ask for me. I live in a great area for a shop. I live on a Medical University Campus with over 30,000 people daily (visitors, students, doctors, staff, etc.) I live in the apartments that houses some of the students and doctors. I live next to the retail space that is currently empty. I will be the only business in the retail space. I do have a few questions.

1. How do I begin to project cash flow statements? I am clueless.
2. How much coffee do you think will be needed a month?
3. Where do I find great tasting coffee beans for wholesale?
4. Anyone have a training manual I could use?

Sorry if this is long. I would really love some help.

Thank you everyone!

 

[DocHaley]

I'm in a boat similar to yours.
I'm 60, retired since I was 53, don't need to earn a living but am bored to death. Can't play but so much golf, or hunt and fish but so many days and then it becomes uninteresting. I need a purpose in life.
I'm thinking of buying a home in Ruidoso, NM or Cloudcroft, NM and getting a small coffee shop opened. I'd of course make great coffee and tea, some other drinks but not too many; I'd bake my own muffins, cannoli, cinnamon rolls (stuff I have done for my kids all my life) and just sit back and try to relax while working my second career in life.
Don't need to make a living from it but would like it to pay for it's self. May turn it over to my son one day and let him take the reins if he's interested in it.
I can also merge a computer repair service into an area of the coffee shop, A+ certified, and tinker with the laptops and desktops as well.
What is the biggest problem that you think new shop owners face outside of not being funded properly and those that don't manage their own shops. I will own and manage my own shop and do not have to make a living at it nor borrow the funds to open it up. I have spent 6 months talking with vendors and equipment providers and have a good idea what to buy and where to buy but if you folks have any suggestions on equipment and beans (I won't roast on site but I may have some outside in a small roaster to send my scent down the sidewalks during the day)?
Thanks
Doc

 

[ACRM]

Hi Doc and Amanda,
There are a hundred pieces of advice you are going to receive so I'll kick it off by suggesting you work in a cafe/coffee shop for a few months. It will give you first hand, behind the scenes information on almost every aspect of owning and running a business that is what we consider to be the second hardest job in the world (underground coal mining is first by a slim margin).

 

[AmandaParker]

I worked at Seattle's best and Cinnabon when I was younger, But I never did inventory or anything like that. I did get a lot of great info while working there but not for the business end.