Newbie in need of help

[scgirl]

I am gathering information to open a coffee shop in an area that has a traffic count of 20,000/day. My question is this - I read somewhere that you take the traffic count and estimate that 3-4% may stop in your coffee shop. Is this correct? I am trying to pull together financial information but I am unsure of figures. The rent on the space I am looking at is $3000/month including taxes, ins, CAM and is 1600 sq ft (a little larger than I want). The population in the 3-mile radius of the shop is ~60,000.

Just want to be sure I am calculating everything correctly.

I have enjoyed reading all of the information on this site!!! Thanks for all of the help.

 

[ElPugDiablo]

You need to find out the traffic count by the hours, then see if your shop can handle the 2 or 3% of the traffic during that hour. For example in the morning, if you have 2000/hour going to work, can you handle 400 to 600 per hour? If you cannot, then you can only estimate at your maximum capacity. If you can handle that many people per hour, congrdulation, we have a winner, and PLEASE let me be your coffee supplier. Also, at 5 pm, the same 1000/hour going home are not going to stop by to get a cup of coffee.

By the way 1600 sq ft is not that much space.

 

[kimbica]

traffic flow #s

ElPugDiablo,

Did you mean 40-60 customers per hour? Just want to make sure I am not misunderstanding you; I am also trying to get a feeling for estimated business on a certain road and I KNOW there is no way I could get 400 in an hour even if I stood outside naked and danced, on a road which gets 51,000 cars daily (24 hrs.)
:lol:

-Kim

 

[billagirly]

I just did the calculation - I believe it is 40-60.

2000 * 0.03 = 60