Continued Coffee Woes.......

PinkRose

Super Moderator
Staff member
Feb 28, 2008
5,219
5
Near Philadelphia, PA
Hi ABM,

I agree. Things probably will get better, (eventually) but in the meantime you could lose your shirt if you open up an independent specialty coffee business now. I've been watching lots of established shops struggle to survive.

Many people have to cut back on their spending now-a-days, and they're cutting back on even the simplest of luxuries such as going out for specialty coffee drinks, movies, and popcorn, etc.

When you consider that the price of gasoline is now $3.50 a gallon, and in some cafes a specialty coffee drink is the same price ... well, you can't blame people for giving up the coffee.

I know you'll give it a lot of thought before you decide to take the plunge.

Good luck.

Rose
 

caffe biscotto

New member
Jan 18, 2008
704
0
MASS.
I say dive in! Give her all you got!

Win, lose or draw, you will never know what you are made of if you don't try.

Stick to this forum and learn all you can. Heed the advice of others, but don't be discouraged from your own ambitious desires. Too many people lose a lot of money sitting back watching the stock market. I say get in there and BE a part of it, don't just sit back and watch.

I'm hearing in real estate forums that Atlanta is still a sellers market. You're in a great city, take advantage of it and go get yours. :D
 

ElPugDiablo

New member
Jul 16, 2004
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0
Hartford and New Haven, CT
If you can only do well when the general economic condition is good what are you going to do when the next (prolong) down turn hit? If you can prosper in the current recession, just think what you will do once we are out of this recession?
 
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ABM

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Mar 4, 2007
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Atlanta
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ElPugDiablo said:
If you can only do well when the general economic condition is good what are you going to do when the next (prolong) down turn hit? If you can prosper in the current recession, just think what you will do once we are out of this recession?

True. But is this really the best time to "start-up" a business?
 

caffe biscotto

New member
Jan 18, 2008
704
0
MASS.
ABM, I'm not sure, but I think you're a young buck right?
You seem to have the energy and enthusiasm. That alone has value and will help get you where you want to be.
If you're an old fart, like somepuggy in here called me (hey wait a minute), then I say wait until the market conditions get nice and cushy for you to start up your drive-thru in Atlanta.
 

PinkRose

Super Moderator
Staff member
Feb 28, 2008
5,219
5
Near Philadelphia, PA
Hi ABM

Many people in this forum have posted comments describing their struggles in their first year of operation. Most new places don't show a profit in the first year. I just think it's best to proceed cautiously rather than giving up your day job and just diving in, especially now that the economy is so bad.

However, if you have already have a huge cushion of money stashed away, and if you don't mind taking a risk, then by all means "go for it." Plus, it will take time to get a new business started. Maybe by the time you're all set, and everything is up and running, the economy will bounce back and you'll start seeing lots of dough rolling in.

Rose
 

John P

New member
Jan 5, 2007
1,045
0
Salt Lake City
ABM,

the realities are:

1. You will never get your operation open "on time", whenever that is, so it is very likely any recession will be over.

2. You will succeed or fail despite market conditions.

If you need to plan more, rethink numbers, redo some planning-- go ahead and do it; knowledge is a great asset. But there's either a "Yes, I'll do it" or a "No, I won't". Indecision is a killer.
 
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ABM

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Mar 4, 2007
47
0
Atlanta
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John P said:
ABM,

the realities are:

1. You will never get your operation open "on time", whenever that is, so it is very likely any recession will be over.

2. You will succeed or fail despite market conditions.

If you need to plan more, rethink numbers, redo some planning-- go ahead and do it; knowledge is a great asset. But there's either a "Yes, I'll do it" or a "No, I won't". Indecision is a killer.

I really like that approach, thanks.

I feel that I'm about 75% of the way collecting data and doing various due diligence. However, I'm not totally sure I have enough available financial resources to feel 100% assured that if the business fails, I'll be OK. My dilemma here is that I'm currently in a corporate job which will most likely be ending in the next 18 months to 2 years. I felt that it might be a "reasonable" idea to start this business in a relatively "ground floor" area, Atlanta, GA, while I'm still doign the corporate stint I'm relatively certain I can hire/retain a barista/manager. I'm not in any way excited about going back to work in corporate America. I'd almost just as soon do the "paper or plastic?" gig. ;)

I'm looking strongly at leasing everything I possiblly can. Also, I'll probably have the ability to take out up to a $50,000 non-secured loan. As this will be a drive-thru-only operation, my start-up costs will be much lower than a sit-down variety. That will certainly help as I get off the ground.

Also, I'm gonna try and time this thing to start up at the tail end of this recession thingy we seem to be going through. I'm hopeful that gas prices will have, at least, stabilized by then.

BTW, for Dave.....I'm 51, but, by golly, I have the body/spirit of a 60-year-old. 8)
 

caffe biscotto

New member
Jan 18, 2008
704
0
MASS.
Ha Ha Ha ABM you surely fooled me man! Good on ya!

Stats show something ridiculous like only one in ten small businesses survive past the first two years. I find that hard to believe! That defines a lazy society if you ask me. Either that or we're all just a bunch of dreamers and when it comes to playing our hand, we fold too easily.

I'd rather grow old penniless with zero regrets, than comfortably with many regrets. To experience life is what it's all about for me. I'm in the game, win or lose and I won't play the paper or plastic gig. I'd die of boredom for sure!

Good luck buddy. :D
 
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