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.
i own a restaurant so its a different order of magnitude but you really need to see what your breakeven point would be and how youll be servicing the debt along with payroll, taxes, insurance, rent, etc.
If anything, maybe re-evaluate the renovations and what you can wait on. We got a turnkey restaurant, theres a lot to upgrade, but we decided to open earlier instead of changing it and living with it. 3 years later we are still living with it but considering all the expenses that have come up, its for the best at the moment. We’d probably be out of business by now if we renovated to our liking.
I’d try to keep your start up costs as low as possible. youll need the extra cash once you open.