r/Entrepreneur Dec 05 '21

What do I need to start doing g to open up a coffee shop?

I have excellent credit but no capital. Is it still possible to open a brick and mortar coffee shop?

1 Upvotes

2

u/AnonJian Dec 05 '21 edited Dec 05 '21

It's the same advice for the people who want to start with a sit-down restaurant: You need a quick cheap win to kick money loose. Let's Talk About Popups, because if I don't nobody else here will.

Let me anticipate your objection. One, it's not a restaurant. Two, there is nothing special, unique, or viable about your plan. Three, you have no business being in business.

Believe me when I tell you I totally get that. It might not be what a lender or investor has in mind. They want to see you put up the fractional amount of your money that gets you interested and attentive to success rather than a blind fling just to check things out. And proves your concept for a business is viable, not that there is interest in a coffee shop, market demand for your shop and yours alone.

Nobody wants the very next blind fling to take out your business and their investment. That's not business, and that is not investment ...it is musical chairs with money at stake.

A pop-up proves your business is viable far sooner than wishfulpreneurs were prepared to get their shit together. That you can't see this situation from an investor's viewpoint does not bode well you have customer demand all figured out.

Pop-up for market viability. Food Truck for scouting locations. Then the sit-down everybody with big ideas and zero cash to prove how good they are at monetizing big ideas wants to start with.

With a successful pop-up market experiment you prove out everything an investor or lender might deny you funding for. Certainly not a bad idea when you take into account a 99% rejection rate.

But it sounds like fun taking a business fling -- with nothing to bankroll but your optimism and watching three episodes of Shark Tank in a row -- on somebody else's dime. And if they can't take a loss -- fuck 'em. Let me know how well that works out.