Questions about viability of shop.

[carriagehouse]

:? My wife and I are working on starting a coffee shop. My questions are as follows:

Is there a way to get the shop off the ground with other peoples money, or am I going to have to bring 100% of the funding to the table?

One of my concerns is that I won't be bringing in enough net in to equal the pay I'm getting now (I'm not trying to get rich, I only need to bring in $3000.00 a month after COGS).

I would like to carry Mariage Freres tea, does anyone know how I might go about contacting a distributor?

and finally. Does anyone have any experience in selling magazines and newspapers in their shop? Do you have any suggested distributors?

Sorry, I know it's a long one, but I need minds for picking!

 

[Comfy Place]

Questions....

Carriagehouse, here are my answers to your questions:

1) Absolutely, you can use OPM (Other People's Money) to get your business off the ground - my wife and I did with ours. However, be prepared to deal with the cost of using this money, i.e., principal and interest payments. Its best to talk with a few bankers in your area to learn how the process works and what options you have. Even better if you can bring in your business plan so that they have a better idea of how best to assist you.

2) For at least the first year, perhaps longer, you will most likely not be bringing in enough to pay yourself what you are making now ($3K per month). While it would be great, it just won't happen. Plan on it. Plan for it. This is one of the big sacrifices that new business owners like me (and hopefully you!) have to be able to deal with.

3) Find the webpage or contact information for Mariage Freres teas, and contact them. They should be able to tell you your local distributor, or you might be able to purchase from them directly.

4) I can't help you with the magazine or newspaper selling, since we don't offer it. We only have a few newspapers and magazines that the business subscribes to for our customers to read. However, check your local yellow pages to find a magazine distributor for your area, or ask around at some other retailers that carry magazines for sale. For newspapers, probably best to call them directly.

Best of luck to you. And keep asking questions! The more information you know, the better off you will be when you start your business.

 

[carriagehouse]

:grin: Thanks for the Reply! So it isn't likely that I'll bring in $3k a month....ouch, but I guess I've made less before! thanks again for the info.