Need advice on opening a shop.
In my neighborhood, a trendy hipster coffee-centric neighborhood in Brooklyn, NY; there is not currently a decent coffee shop. It is in the newly gentrified part of town; which is also now the hippest place in New York City for young artists and musicians to reside. There is however, a shop that has the potential to be the best around. It is gigantic, with indoor and outdoor space. It is directly on a park, and has a food scene popping up all around it. It is lacking an aesthetic appeal and needs a makeover. It also does not offer a quality product or experience. I think with certain changes in appearance and product it would become highly popular. I wish to approach the owner and attempt to buy him out, or partner with him. I see great potential for this space.
I am looking for advice on what kind of costs are generally associated with start-up; what level of profitability might be expected over a two year period, common issues that arise and anything one might find helpful.
11-09-2012 09:58 AM
Welcome to the forum. First I suggest thet you do a search on the forum to see all that is here in regards to costs of food,starting a business and other very informative posts. There are so many variables involved that it is impossible to give you a rough figure on costs and expected profitability. Start-up costs could run from $50,000 to $400,00 or more if you are buying the location. It sounds like it might be a good spot to investigate further but you need a lot more facts before you even think about approaching the current owner. As stated before do yourself a favor and research this forum.
On one hand I see "Coffee shop location in Brooklyn" on the other hand I see "disaster waiting to happen."
As CanadianBrian wrote, research the forum.
Spend a little time. Spend a little $$. Go to the upcoming SCAA in Boston, hit a CoffeeFest or two, learn about the industry, then and only then come to ask questions.
Salt Lake City, UT