DJinArizona
New member
I am a newbie to the forum and have read nearly every post on here. Thank you so much for all your feedback. While I know you can't have too much money when opening a business, any business, my question is more related to taking over another location. My wife was a barista for about 4 years many moons ago. She flew to Seattle every year and really enjoyed her training. That was 13 years ago so yeah, she'll probably need a refresher course or two. Where we live there is a %$^&bucks in a grocery store about 2 miles away and a dunkin' donuts about 1/4 mile away. Other than that, we're surrounded by residential with one main road in/out of town. The location is on that main road heading out of town (but doesn't actually face it). There was another coffee shop set up in there with a drive through and counters, etc. No machinery anymore, but set up to comply with health codes (sinks, bathrooms, etc.). It's decorated as far as paint, flooring, lighting, etc.
We're working on our business plan but the rent is $3K a month, 1,200 sq.ft. We're not wanting to branch out too far from coffee based drinks. Maybe incorporate smoothies. We don't want sandwiches and all, mainly stuff people can eat in their car easily (muffins, bagels, etc.) The previous tenant moved out in Feb, filed a BK. Canot find any other info on it. I saw one posting on the www that said they grossed 98K, no references given. The shopping center is growing, there are a few small eaterys in there (mexican, asian, pizza, etc.) Nothing really anywhere around for over 15 miles where you can sit and chill, listen to music, relax, etc.
To the question, we are able to have her work during the morning/early afternoon and me at night. This will allow me to keep my full time job. That's the nuts and bolts of it. The question is (finally, i know) without knowing how/why the other business failed, knowing there really isn't much competition around (except the donut shop), in a prime location for drive through traffic, but not actually facing the main street, and also including that the community is only about 10 years old and there is a growing community interest in supporting local business instead of the chains, what would you do?
I know, I know, there are a lot of variables (marketing, $$, time commitment, etc.) My wife and I are not wanting to hire employees for at least the first year to avoid the taxe headaches and to ensure we can do enough business to warrant it. Ideally, I would like to make enough for her and me to work, quitting my job.
Lastly, I know: a lot of variables, you don't want to be too optimistic and paint an unrealistic picture, etc. But is it worth the risk knowing that it failed and not knowing why? Last piece of my question: If we waited 6 months, a year, even 2 and the economy gets a little better, I don't want to kick myself when someone else snatches the idea up. Sure, the economy could still slide, but I don't want to be the one who had the idea, the plan and hesitated and watched my opportunity pass me by. Given that it's such a new community and growing by leaps and bounds, I am fearful to miss the boat, so to speak.
Your input is appreciated. Thanks!
We're working on our business plan but the rent is $3K a month, 1,200 sq.ft. We're not wanting to branch out too far from coffee based drinks. Maybe incorporate smoothies. We don't want sandwiches and all, mainly stuff people can eat in their car easily (muffins, bagels, etc.) The previous tenant moved out in Feb, filed a BK. Canot find any other info on it. I saw one posting on the www that said they grossed 98K, no references given. The shopping center is growing, there are a few small eaterys in there (mexican, asian, pizza, etc.) Nothing really anywhere around for over 15 miles where you can sit and chill, listen to music, relax, etc.
To the question, we are able to have her work during the morning/early afternoon and me at night. This will allow me to keep my full time job. That's the nuts and bolts of it. The question is (finally, i know) without knowing how/why the other business failed, knowing there really isn't much competition around (except the donut shop), in a prime location for drive through traffic, but not actually facing the main street, and also including that the community is only about 10 years old and there is a growing community interest in supporting local business instead of the chains, what would you do?
I know, I know, there are a lot of variables (marketing, $$, time commitment, etc.) My wife and I are not wanting to hire employees for at least the first year to avoid the taxe headaches and to ensure we can do enough business to warrant it. Ideally, I would like to make enough for her and me to work, quitting my job.
Lastly, I know: a lot of variables, you don't want to be too optimistic and paint an unrealistic picture, etc. But is it worth the risk knowing that it failed and not knowing why? Last piece of my question: If we waited 6 months, a year, even 2 and the economy gets a little better, I don't want to kick myself when someone else snatches the idea up. Sure, the economy could still slide, but I don't want to be the one who had the idea, the plan and hesitated and watched my opportunity pass me by. Given that it's such a new community and growing by leaps and bounds, I am fearful to miss the boat, so to speak.
Your input is appreciated. Thanks!
