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 you should do here is look at all your costs together that you’re going to be shelling out monthly (rent, utilities, etc.) “in addition to” the debt. It’s going to be a lot. Hourly staff is gonna be massively expensive, as is a lot of stuff youre not thinking about like insurance.
How much cash flow will you need to pay all that, and enough for yourself to live on top of it.
How much are you gonna need to sell daily to get in front of that number?