Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't know what target market you're going after; I just can't think of anyone who would want to pay to go someplace to play board games and drink tea.
We're in a pandemic, how do you distance and disinfect the board game pieces?
I've never met a landlord that wants to give you anything for free. Or a utility company.
Have you worked through your expenses to figure out how many $10 customers you need a day to break even?
There is a virtual gaming place near me, poor guy is losing his shirt, no one is coming for his high tech games and he is in a high traffic area.
Target market = groups of 2 or more, people with a laptop, people who work remotely, people who generally frequent the library when it was open.
6' spaced tables, disinfectant spray
I'm yet to negotiate with one, but it wouldn't be free. It'll be a joint venture.
The place is closed now but I think it was able to last a year...
By seeing the web page, it seems a bit complicated. I would want my concept to be as simple and uncomplicated as possible. People should know what kind of place it is by reading a simple sign.
Target market = groups of 2 or more, people with a laptop, people who work remotely, people who generally frequent the library when it was open.
6' spaced tables, disinfectant spray
I'm yet to negotiate with one, but it wouldn't be free. It'll be a joint venture.
Yes, 25-50 customers.
People play video games at home.
You mentioned board games, people have those at home too.
Anyway, you sound like you believe this could work in your area and that it might draw the working Starbucks type customers. I don't understand what you mean about doing a joint venture with landlords, they aren't interested in your business. You sign the lease and they sue you for the balance if you close down and quit paying before the lease is over. Very simple.
Keep us updated, I'd be interested to see what you decide to do.
By seeing the web page, it seems a bit complicated. I would want my concept to be as simple and uncomplicated as possible. People should know what kind of place it is by reading a simple sign.
The intrigue was part of the draw, I myself wondered what it was many times while driving by...
If you see my thread concerning 'starting a business' here, there's ways to have businesses, multiple businesses go bankrupt actually, and not end up poor, or even much worse off financially than you were...
I don't know exactly how it's done perhaps carrying debt to your grave, getting debt discharged, etc, but the point is, people have done it and people are doing it.
You mentioned board games, people have those at home too.
Anyway, you sound like you believe this could work in your area and that it might draw the working Starbucks type customers. I don't understand what you mean about doing a joint venture with landlords, they aren't interested in your business. You sign the lease and they sue you for the balance if you close down and quit paying before the lease is over. Very simple.
Keep us updated, I'd be interested to see what you decide to do.
I've had many board games, and nobody to play them with. It helps to have the right setting and people.
Well, how do you know some landlords aren't interested? I've seen my very own landlord open up weird things like this, they have so much real estate and not all of it can be leased for a residence. Only, there is nothing to sue for as it's a "joint venture". If both parties enter in good faith, it'll work or it'll fail but the whole magic is that I'm not paying rent, lmao. I'll be paying other things though, basically promoting their property.
The intrigue was part of the draw, I myself wondered what it was many times while driving by...
If you see my thread concerning 'starting a business' here, there's ways to have businesses, multiple businesses go bankrupt actually, and not end up poor, or even much worse off financially than you were...
I don't know exactly how it's done perhaps carrying debt to your grave, getting debt discharged, etc, but the point is, people have done it and people are doing it.
Look into it...
Yeah. I prefer to keep cost and risks low as possible and keep my day job. I'm not comfortable with the whole subscription method, too rigid and then people leave and never come back - like I just did with my gym, trying to make us wear masks while exercising, why not just die now if we're going to exercise with a mask.
You are dealing with the general public. The property owner and your insurance company will make you pay dearly for the privilege of serving them in your retail adventure.
I myself have been a coffee snob my adult life, spent 1000s on starbucks to work remotely away from home distractions and drink a ****ty $5 coffee to sit for hours without feeling funny. To answer your question, where I live and especially during the covid19 all the coffee shops are either completely closed or close so early that most people have nowhere to go. I live in the northwest where coffee shops open at 5 and close before people even get off from work. This area could certainly use a place that isn't in a hurry to close. The absolute latest place nearby is a starbucks that closed at 10pm, or use to. I don't see places opening up again for years. The local government seems hell bent on destroying it's own economy with covid19 paranoia.
If there's demand, the businesses will come back as soon as restrictions are lifted. I don't think you've described an experience so far superior to sitting in a Starbucks that people would pay $10 just for the privilege of walking through the doors. I like the outside the box thinking of trying to get a rent-free place but it's at best highly ambitious and at worst completely delusional. Good luck to you either way.
Hehe, ok let's start on the positive. You're thinking in the right way. Things are changing and getting a business that can capitalize on this is the right direction. Good job.
Now let's tackle the problem you are trying to solve. There's no place for board game people to hang out. I have seen some at hobby shops when hunting for anime characters for my kid. They all somehow tend to reek of unwashed male young adults. While there's plenty of ladies at anime conventions, I have yet to see one in one of these sad, sad places. That's both a slam and an opportunity. It could be done better. But these guys hang out forever I think and don't buy much of anything.
So can you grow your local chapter into an event that doesn't fall into this pitfall? Can you retail enough merchandise, have enough tournaments or hold enough events to attract something to sustain itself? My guess is the answer is no. Worse, I think the smelly side of this actually detracts from your other revenue possibility in drinks.
There are a ton of tea places here in San Jose. Like pimples on a teenager almost every busy corner has one. They are the new bar in today's fast paced, low attention span meetup place that is cooler than parental starbucks. Some have lines going out the door. If you don't have one in your area...a tea place might do very well. Demographics may be important though. You may see deltas in your local population from the customers here. Set that up, get that moving, and you may decide to have a gaming night event (if you have space) to keep new people coming in, but realize your business is finding and crafting the best tea drinks around.
As for landlords, you'll probably be charged a premium with your business plan because it's really doubtful it will work as is, much less get them to buy in. You need to show profit. The landlord wants the highest rates possible for their building. They'd rather have it sit empty and wait for the higher rate...in part because they have to....they took out loans for 75% of the value of the building. That value is ascertained by the lease rates. Those lease rates go down, the building value drops significantly. That building value drops, when the 5 years is up on the loan, they have to come up with the difference to pay down the delta between the maximum loan value and the current rate. Also, CAM charges alone in a high rise are astronomical. Remember, a landlord not only expects a business to pay rent, but also the costs for maintaining, insuring and the taxes on a building. It's shortened to NNN, meaning triple net. NNN leases are what allows the value of commercial buildings to skyrocket. A fully filled building in contract should represent 0 risk to the landlord to make money.
My advice would be to run numbers, or maybe work at a drink place or coffee shop if you don't have a tea place. Get an idea of what busy and slow look like. Get an idea of how much the take is, and how many people it takes to make that happen. Also, don't tell them you're going into competition. Just learn as a good employee looking to learn the business. It will help you plan your business. Not to be copied, but as a vantage point.
The reality is there is generally much less wiggle room than people expect, especially in businesses that have relatively small "moats". (i.e. you don't have to build a billion dollar factory) Doesn't mean it isn't an excellent idea, but don't confuse a hobby with a business. Also, places where people hang out together for hours at a time in public is probably the least favored business at the moment due to Covid concerns. However, buying out an existing business once this dies down and rent has killed the original owner may not be terrible.
Good luck.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
