Okay I called about the prospective place Id like to have my new shop. About 20,000 more than I'd like but found out that price includes all the leftover supplies in it. Which I dont want or need. So thinking I may be able to get it cheaper if I buy just the place only. Also found out its been on the market once before with no sale and the owner lives out of town. The agent assured me these were good signs I might get a better deal in the end. Right now just trying to find a price I can pitch in my business plan.
OH the dreaded business plan!!! Yuck I hate it. It started out easy but got harder very quickly. When I got to the last few pages of Key Financial Indicators, Break-even Analysis, and Business Ratios I was lost. I have no idea what they are talking about and the charts look very confusing. That part, for now is getting left empty until I meet with the Small Business Association. Hopefully they can assist me in that area.
What ever happened to simple business? Everything seems so complicated. Im not giving up though. I have my price point for the location now just need to do some more research on cost of supplies and what I plan to charge for my items. Then its a little math and write it all out.
Step 5: Spy out the competition. I am going to visit the two local coffee bars and get some idea of a competitive price as well as things they offer or dont offer. This will be an undercover mission. Gotta have a partner and since kids are all gone today will have to do it tomarrow. Plan to take my laptop and visit both places, buy something and take some secret notes. Shhhh dont rat me out. :)