bgaassoc
New member
I am interested in opening a coffee bar in Austin Texas located near the UT campus. The locaiton is an old two story home 3 blocks from campus. The owner is looking at rezoning it to a CS-1 site. He said it should take about six months.
Its a large home with a great layout and 2,500 sq ft. The location will rely mostly on student housing and walking clients and word of mouth. There isn't any competition near by. The closest location is about 2.5+ miles away and the competition close by is usually busy.
I know I will have to prepare my money/budget for when campus is out for holiday's and slow in summers, but the rest of the year it should be strong. I walked the neighborhood and asked those who lived near the location how they would feel about a coffee bar being at the location and everyone loved the idea.
The rent is 2,600 a month and it would be just me, so I would like to hire 3 people probably part time. I am a baker so I would have things for breakfast, lunch and dinner. Since my client base would be students it would be good and low in cost.
I wanted to run my situation by those who have the experience, asking their throughts. I am putting a business plan together for start up costs and long term goals. I am lucky to own a duplex. I live in one side and rent the other side so my mortgage is low. I don't have bills other than mortgage and insurance and utilities. I was thinking of saving my income from the coffee bar for the downtimes just to be prepared. Any advice would be appreciated.
Thank You,
Patti, Austin, TX
Its a large home with a great layout and 2,500 sq ft. The location will rely mostly on student housing and walking clients and word of mouth. There isn't any competition near by. The closest location is about 2.5+ miles away and the competition close by is usually busy.
I know I will have to prepare my money/budget for when campus is out for holiday's and slow in summers, but the rest of the year it should be strong. I walked the neighborhood and asked those who lived near the location how they would feel about a coffee bar being at the location and everyone loved the idea.
The rent is 2,600 a month and it would be just me, so I would like to hire 3 people probably part time. I am a baker so I would have things for breakfast, lunch and dinner. Since my client base would be students it would be good and low in cost.
I wanted to run my situation by those who have the experience, asking their throughts. I am putting a business plan together for start up costs and long term goals. I am lucky to own a duplex. I live in one side and rent the other side so my mortgage is low. I don't have bills other than mortgage and insurance and utilities. I was thinking of saving my income from the coffee bar for the downtimes just to be prepared. Any advice would be appreciated.
Thank You,
Patti, Austin, TX
