Goal - open a coffee shop / roastery by end of 2013

[PinkRose]

Hey Mr. Shave!

Congratulations!

Your goal was to open a coffee shop / roastery by end of 2013 and it's only the end of May! You've made a huge amount of progress over the past months. I hope you're taking time to step back and admire your work and how much you've achieved.

Thanks for sharing your dream, your progress, and certainly your future success with us!

Rose

 

[Culann]

Well Brian, that comes to $160/sq ft annual rent. We manage and own property in Manhattan, not the super high rent areas like 5th Ave et al., but in Tribeca on Hudson Street as well as West 29th Street and we are getting between $60 & $118 per square foot for stores. Uptown, in the higher rent, areas rents can go sky high. For comparison one could look at the NY Times classifieds but I will not go into that here.

As someone who has run several very successful businesses, I always use complex spread sheets to analyze projected income & expenses by month, by year-- looking beyond where it becomes profitable to see how much one will make vs the work involved.

all my best,

/ * Phil */

Well I am not afraid to pay more to get more. An example is at a local mall I was in the rent for a sub shop was $6,000 for a 450 sq ft location but they did over $65,000 per month with minimal staff, but I still think that 7,000 per month is high. As a general rule rent should be no more than 10% of your gross so you should see 70,000 per month or over 3/4 of a million per year. If not then your rent would be to high for that location. Also you can use some of your advertizing budget for rent if it is a high visable location. Many aspects to look at.
Brian

 

[Mr Shave]

Thanks you for all the kind words.

I'm really happy with the menu and the concept. So far, it has mostly been regulars from the other shop, friends, family, and a lot of the barista community.

W 59
Th 30
F 52
S 46
Su 33
M 57

trans count is very low. Mall hours are long and am still getting adjusted to it.
Goal is double business by next next Wednesday

 

[consciouscup]

You can't count on cash flow. You can count on cash. What are you going to do for marketing? Why are you different in your market and how are you going to attract folks who appreciate that difference? How many people a day will you realistically see? How much will each spend, on average? That's your budget cap. Will your expenses AND profit (your income, cuz it sucks not to have income since beer and ice cream cost real money) fit?

 

[CanadianBrian]

Congratulations Mr. Shave;
Glad to see that your hard work is paying off. Keep us updated as you can and best wishes.
Brian

 

[Flori]

Congratulations and Goodluck. Wish I would be able to visit your cafe shop soon.

Flori
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