Any UK business owners?
I've been manager of 2 costas now, and I have to say, they fucking rake in money. It's easy money to rake in off pretentious fucks and old farts.
But I've now got £11,000 in the bank. I want to open a small coffee shop/bar. Any tips and advice on how to go about doing this. I'm fully aware without that trust fund i'll be needing a loan/partner.
I don't think you know who you're talking to. Maybe you didn't read where OP wrote that he managed not one, but TWO chain coffee shops. What have you ever done with your life?
Think again next time you insult a entrepreneurial demi-god.
Try getting a small coffee stand first maybe? Its never a good idea to get in debt especially if its your first biz.
Just my opinion. If your credit rating is good enough and you can handle the stress by all means get a loan.
See how much a franchise is, OP, and what the other costs are.
Getting a loan from a bank for a new business is generally impossible, but the franchise itself might be able to help with financing?
Best bet though is to borrow money from a rich relative. If you don't have one you're probably out of luck.
Trying to find an investor will be difficult because you have nothing to offer other than about 10k. Great, you can be 1% owner whoopdie-do. Actually, no one is going to bother doing the paperwork to give you 1% ownership for your money.
The only other thing you have is experience working there, so if you did convince an investor it's a great idea, best you'd get out of the deal is a job offer.
On average the set up for a costa store, you're looking at £120,000
You'll need a months stock in advance so you're looking at maybe another £5000
I know these fuckers can bring in £10,000+ so if you can go franchise fucking do it m8
£10k a week
I recommend this to anyone in the UK. Getting rights to franchise is hard a fuck and Whitbreads standards are high as fuck. Fail a quarterly check 3 times in a row and they take that franchise from you.
I know this may sound old school as fuck. But have you considered an artisan coffee delivery service? (Beans etc, not prepared cups)
Less risk and overheads, plus you can build up a database/ customer base and open a branch further down the line.
You're gonna need a usp and a business loan to rival Costa m8.
Get a stall in a farmers market and build up slowly from there. Sell organic fair trade sustainably sourced coffee to posh people. Donate 0.001% of every sale to Bolivian village orphans. Become a master of bullshitting.
A professional coffee machine isn't cheap so maybe try nescafe and an electric kettle.