Okay we have a great location picked: only drive thru one a major commuter road w/ space for a small retail shop inside. I have a great supplier who works with other small coffee shops in the state. I have the plans laid out and everyone thinks its great idea.
But for renovations/supplies/ect its coming out 300k. Is that a horrible idea?
I have reached out to local agencies and haven’t found grants and I don’t feel comfortable asking family.
I’m torn between you only live once/this is my dream and omg I want to throw up.
What are your projected revenue expectations per day? Are there any local examples of coffee shops that seem to be doing well? I sat outside of a coffee shop a few years ago and watched how many people ordered within 1 hour in the morning and 1 hour in the afternoon, did that several times throughout the next few months and developed revenue projections. What I found was that although the margins on coffee and pastries is very strong (as long as your making in house), the profitability of a coffee shop isn’t a strong investment. There is a reason why they are referred to as “lifestyle” businesses. The only people that own and operate coffee shops/restaurants/etc, are people that can not live without one. Scaling is also challenging since it’s brick and mortar…just means it very expensive to grow.