"How can money be the root of all evil, when shopping is the cure for all sadness..." Elizabeth Taylor
When I ask prospective coffee shop owners why they want to open a cafe, they often tell me, “I thought it would be fun, I've always liked coffee.” And my response usually is, “It certainly is fun spending your life savings and then spending 80 to 90 hours each week trying to earn enough to make payroll.”
If you’re considering opening a coffee shop or cafe, consider the following questions:
Do you have a great business plan?
Do you have about $150,000 for the initial build out?
Do you have an additional $50,000 in the bank for payroll and other unexpected expenses?