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Cafe Manager with Some Money and Doesn't Know What to Do With it

Forza

New Contributor
Mar 14, 2008
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Hello, I'm new here :)

I know how to manage a cafe, and I have some money. If you were me and had $300,000 to buy a business, what type of business would you buy and why would you choose this type, i.e. if you decided to buy one?

Alternatively, if you think I'm crazy for wanting to spend that much money on a little business, and you were me (and have knowledge/experience on how to run a cafe), what would you do instead?
 

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snowbank

Platinum Contributor
Speedway Pass
Aug 10, 2007
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Austin, TX
Re: Cafe Manager with Some Money and Doesn't Know What to Do With

Hello, I'm new here :)

I know how to manage a cafe, and I have some money. If you were me and had $300,000 to buy a business, what type of business would you buy and why would you choose this type, i.e. if you decided to buy one?

Alternatively, if you think I'm crazy for wanting to spend that much money on a little business, and you were me (and have knowledge/experience on how to run a cafe), what would you do instead?
It really depends what your goals are.
 
OP
OP
Forza

Forza

New Contributor
Mar 14, 2008
212
3
15
Re: Cafe Manager with Some Money and Doesn't Know What to Do With

I would say my goal is a decent sized, reliable income that I don't have to slave for :). But that doesn't mean I'm not willing to do the work to get to that point.
 

kurtyordy

Bronze Contributor
Aug 28, 2007
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Re: Cafe Manager with Some Money and Doesn't Know What to Do With

second most important question- what do you enjoy doing? I know how to clean toilets well, but that does not mean I want to start a toilet cleaning business.
 
OP
OP
Forza

Forza

New Contributor
Mar 14, 2008
212
3
15
Re: Cafe Manager with Some Money and Doesn't Know What to Do With

Discovering things that help me do things better, faster, and more easily, e.g. what customers really want, people, marketing ideas, techniques, investments, principles, etc.
Trying to understand the things that help me do things better, faster, and more easily.

After reading about Warren Buffett, it would be cool to be in a position to buy businesses, except at my level I would probably have to improve each one. The research and testing aspect of this would suit me, but implementing the research is something I don't know about.
 

Cowxq

New Contributor
Mar 13, 2008
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Re: Cafe Manager with Some Money and Doesn't Know What to Do With

I think what you should really ask yourself, is what do you REALLY like to do. I myself love video games and being competitive at them, if I was in your position I would probably pull in sponsors and try to start the next NFL but for Professional Gaming.


Discovering things that help me do things better, faster, and more easily, e.g. what customers really want, people, marketing ideas, techniques, investments, principles, etc.
Trying to understand the things that help me do things better, faster, and more easily.
Don't cheat yourself with an answer like this, think deep down what would you want to spend the rest of your life doing. And work it out from that there.
 

phlgirl

Bronze Contributor
Read Millionaire Fastlane
Aug 29, 2007
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Philadelphia
Re: Cafe Manager with Some Money and Doesn't Know What to Do With

Discovering things that help me do things better, faster, and more easily, e.g. what customers really want, people, marketing ideas, techniques, investments, principles, etc.
Trying to understand the things that help me do things better, faster, and more easily.
Funny, when I read this, I thought to myself, that kinda describes what I like to do! lol

Process efficiencies/improvements, I suppose you would call it. Decrease expenses here, push growth there - tweak and refine a business to optimum performance.

I think this would be an excellent skill to have in buying an existing business (which is something I am currently researching as well). I have read/heard that buying an existing business and making necessary improvements can be much less of a risk compared a full blown start up. It makes sense to me - the business already has a customer base, processes in place, an existing income stream.....

Of course there are a million factors to consider when evaluating the right business to buy.

Best of luck to you & welcome to the forum!
 
OP
OP
Forza

Forza

New Contributor
Mar 14, 2008
212
3
15
Re: Cafe Manager with Some Money and Doesn't Know What to Do With

Thanks for your welcome and advice :)

I'm not sure what to do. I seem limited to what I know. I'm sure investors and partners would limit me to what I know, i.e. no credibility in other areas outside of cafes.

What do you really need, i.e knowledge, credibility, skills, to be able to build ANY kind of fastlane business that could be profitable (according to market research)?
 

yveskleinsky

Bronze Contributor
Speedway Pass
Jul 26, 2007
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Re: Cafe Manager with Some Money and Doesn't Know What to Do With

After being on this forum, a profit generating plan that isn't scalable and/or duplicatable makes no sense to me. ...Of course you plan may be very different- it depends on you. With that said, my fastlane .02 is that any idea can become "fastlane" depending on the driver. For example if your knowledge is in cafes, and you want to open a B&M cafe, the goal could be to franchise it. Or, since you are a wealth of knowledge, you could sell your knowledge and offer cafe training/hiring/firing/prep/BP to other owners. You could also set up a site that is cafe related. Maybe a cafe's cafe type of place. A place where people could go and talk shop and get input. You could link up to local suppliers and vendors, have a chat room, that kind of thing.

At the end of the day your choices should follow in line with your plan. Start working on a plan, and the answers will most likely follow (right Russ? :smxB:). Keep us posted- and welcome to the forum!
 

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