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Old 01-05-2009, 06:55 PM
 
Location: Alaska & Florida
1,629 posts, read 4,961,856 times
Reputation: 833

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A small coffee shop will require you to be there almost 7 days a week if you want to see any type of profit. My family used to own a coffee/deli shop and were profitable, but it was only because we worked 7 days a week. The smaller the business is, the more time is required by the owner. If you buy a large restaurant, you can afford to hire managers etc, a small coffee shop, you cannot.
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Old 01-05-2009, 07:12 PM
 
28,461 posts, read 74,323,880 times
Reputation: 18505
Default Lots of exceptions...

Quote:
Originally Posted by Jonotastic View Post
A small coffee shop will require you to be there almost 7 days a week if you want to see any type of profit. My family used to own a coffee/deli shop and were profitable, but it was only because we worked 7 days a week. The smaller the business is, the more time is required by the owner. If you buy a large restaurant, you can afford to hire managers etc, a small coffee shop, you cannot.
I know a guy with a hot dog cart that works for maybe three hours a day and he does about $400/week after expenses in a suburban mall.

Another guy has vending machine route and works maybe 20 hours a week for about $24K/year after expenses, has nice setup as far as mostly offices and hotels.

Not saying you can make a great big fortune, but if want to hit something that does not take a lot of time it can be fit into a small time commitment.
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Old 04-22-2009, 04:21 PM
 
Location: Vermont
5,441 posts, read 15,239,862 times
Reputation: 2641
Quote:
Originally Posted by Jonotastic View Post
A small coffee shop will require you to be there almost 7 days a week if you want to see any type of profit. My family used to own a coffee/deli shop and were profitable, but it was only because we worked 7 days a week. The smaller the business is, the more time is required by the owner. If you buy a large restaurant, you can afford to hire managers etc, a small coffee shop, you cannot.
I'm curious about how much profit is a small profit.

I was thinking about opening a "small coffee" shop and I feel that I need to gross at LEAST 10,000 a month (to provide us with a salary to pay for our own expenses), and assume my wife and I will be working 105 hours a week in the beginning. It sounds a bit daunting.
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Old 04-22-2009, 06:01 PM
 
Location: USA
3,966 posts, read 9,694,251 times
Reputation: 2200
Quote:
Originally Posted by Humanoid View Post
Doing business for the sake of doing business usually doesn't end well.

One should start a business because they have an idea they really believe in...
I can't give you rep points for some reason, but that is the best thing I have read today.
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Old 04-25-2009, 09:23 PM
 
314 posts, read 945,937 times
Reputation: 153
I waited a year after getting my license to scope everything out and get a good idea of what I needed to do. I was able to get a really good sublease but have only bee selling enough to barely break even. My main problem is fear of purchasing large lots (which give highest profit) just for the risk of being stuck with them. Its been decent but I'm heading to the internet to cut out most of the overhead and hopefully increase sales.
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Old 08-12-2009, 03:31 PM
 
Location: On a Farm & by the sea
1,111 posts, read 2,579,286 times
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Quote:
Originally Posted by StealthRabbit View Post
add to the $50k to get a down payment on a mixed use space commercial building (In an area that you are CERTAIN will be 'rent-able' ). Do an 'owner finance' to start; refi if commercial rates fall, and cash flows make your place attractive.

Get it cash flowing to cover the rent on the portion you need for your 'start-up'. Do a separate LLC for your business and an LLC that holds the building. Work like a dog while you are fixing up the building AND growing the business. Then Sell the business (You will be bored again). Keep the property (for cash flow and equity growth). Use the windfall profit to start another business (If you are still bored...).

#2... don't do food service.... long hours, tough on real estate, tough to sell. Every food person is quirky enough to think they can start one from scratch for cheaper than buying yours... wrong... but then there are TONS of food joints for sale, and used equipment is REAL cheap. I got very tired of seeing food tenants go broke while working themselves to death. I went through about 3 - 4 food tenants for every other business that rented from me. It was a major hassle to clean and re-rent the place, tho it didn't stay vacant very long.

StealthRabbit is dead-on with food service. Stay away unless you know what you are doing and have an extended network you trust to work with you in the business. I've seen smart folks buy cafes with stars in their eyes and loose so much money before they could sell out that they had tears in their eyes. A retail storefront is also a very risky venture. Again, one of the smartest men I know (and wealthy from his own businesses) coached me when I was looking for a biz to start.....DON'T EVER, EVER, EVER do a retail gift shop, he said. He lost his %ss in a venture about 10 years ago and the market has only become more competitive with slimmer margins, for the most part. I think the thing that is going to separate the winners from the losers in the start-up biz arena will be the folks who research their market opportunity and have abundant cash flow to start. The bootstrap businesses are really vulnerable now that credit and financing has tightened up. I think the old saying that It takes money to Make Money is more true now than ever before. I've been researching options for other small businesses to start as well to diversify our streams of revenue for the next 20 years. I'm interested to hear what everyone else discovers..... I wish we could have a small biz/start-up forum where we could meet regularly to discuss our findings and share information to move us all towards our goal. And finally....I really dislike that word passion. I think it is one of the most overused words in our language. Yes, it is important to have dedication and drive but it is even more important to have your HEAD in the game and to think out your plan, and test drive it, before commiting the $$.
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Old 09-11-2009, 04:26 AM
 
6 posts, read 20,394 times
Reputation: 10
If i have money like that i will buy any of franchises and start to doing business.
Because by selecting proper franchises,it will help in future for more profit.
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Old 09-16-2009, 11:16 AM
 
Location: Marion, IA
2,796 posts, read 5,625,908 times
Reputation: 1581
$50k is a small amount of capital for a small business?? I guess if you want to jump into a full time job. But I would sink only $10-20k into what you're into and grow from there. Remember you need a LOT of cash reserves when starting a business. Also living expenses if you dont have another job.
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Old 11-19-2018, 02:12 AM
 
646 posts, read 276,830 times
Reputation: 725
A consignment shop for antiques, collectibles, etc. Buy some inventory to set the theme, then take in consignments and charge 25% commission. This would only require a cool retail space, displays, and basic business start up costs. Promote on Craigslist, Facebook, Inatagram, etc.
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Old 11-26-2018, 05:36 PM
 
1 posts, read 459 times
Reputation: 10
Are you still bored I have a billion dollar or more ides
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