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Might open my own business

Discussion in 'Whatnots' started by Munchkin Blender, Jul 23, 2010.

  1. Munchkin Blender Gems: 22/31
    Latest gem: Sphene

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    Remove all ads!
    I am in the process of researching the possibility of opening my own business. Since I love coffee and spent quite a bit of my free time at work at coffee shops I figured why not do what I love and that is coffee.

    I live in a small city next to another small city. Both are coffee shopless. I lived with my wife in downtown Portland Maine that had a bunch of coffee shops but there are none where I live now. There use to be one but it has closed; in fact there prior location is where I may open my shop if I pursue.

    I know I have a lot to learn in the next few months. But before I dive in and get my head wet with information I want to know if anyone on here runs their own business and if you do, what lessons did you learn that you feel from your experience will help someone like me who plans to start their own business.

    Even if you don't run your own business, I would like to hear from you and yoru thoughts.

    My goal is to keep the shop small to medium size. I plan to sell a specific locall roasted coffee along with the speciality drinks, which I will have a daily flavor of the day that will be marked 1/2 off. In addition to the drinks I would like to cell pastries. Not sure where I would get these but it is something I would learn as I move forward with this idea. Since the shop would be open during lunch time I would offer limited lunch items like soup, chilli, and some sandwhichs. I was thinking of carrying ice cream in the summer months.

    Well that is it for now but let me know what you think...
     
    Munchkin Blender, Jul 23, 2010
    #1
  2. Blackthorne TA

    Blackthorne TA Master in his Own Mind Staff Member ★ SPS Account Holder Adored Veteran Pillars of Eternity SP Immortalizer (for helping immortalize Sorcerer's Place in the game!) New Server Contributor [2012] (for helping Sorcerer's Place lease a new, more powerful server!) Torment: Tides of Numenera SP Immortalizer (for helping immortalize Sorcerer's Place in the game!)

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    Oof. What that tells me is there is no market for a coffee shop in those small cities. I would not be surprised that your venture failed if you tried the same thing in the same location as another entrepreneur that failed. Are you really sure you're going to offer something better/more desireable to the inhabitants than this other guy did?
     
    Blackthorne TA, Jul 23, 2010
    #2
  3. Shoshino

    Shoshino Irritant Veteran

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    hmm, Im agreeing with Blackthorne here, it is expensive to run a business in this day and age, you may find yourself putting alot of effort into something which you cannot make float.
    Coffee shops can appear full, but still not make any money, diversifying the end product and your target demographic is a good way of doing this. A mate of mine owns a coffee shop by day, wine and tapas bar by night, without the night revenue he said he'd have walked away years ago.
     
    Shoshino, Jul 23, 2010
    #3
  4. Chandos the Red

    Chandos the Red This Wheel's on Fire

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    I'm agreeing with BTA as well. That is a pretty good warning sign. It's probably the economy there, much like everywhere else; people are just not spending and making their coffee at home instead. Even Starbuck's had to close a number of its shops.
     
    Chandos the Red, Jul 23, 2010
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  5. Silvery

    Silvery I won't pretend to be your friend coz I'm just not ★ SPS Account Holder Adored Veteran

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    I run my own business and a few important things are:
    1) Don't expect to make any decent money within the first few years
    2) Advertising may seem REALLY expensive but it's more expensive to do without it!
    3) Know your market. Check out what people want in the area. If only a few people want one particular thing then don't spend a fortune stocking up on it.
    4)Treat every customer like your only customer....if you don't then one day they will be!

    If you do need any help or want a chat then PM me :D
     
    Silvery, Jul 23, 2010
    #5
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