The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

EXECUTION how to test market

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

good rebel

New Contributor
Apr 2, 2019
7
2
13
hello fastlaners
me and my friends are planning on starting a small cafe is there any way to test the market
how to estimate the total cost and working cap cost for the shop
 

Don't like ads? Remove them while supporting the forum. Subscribe.

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 3, 2014
2,026
7,077
1,736
Marbella, Spain
When it comes to starting a bricks and mortar business such as a cafe location is your primary concern. You could pay 10x the rent in one location compared to another and it would be fully justified if the footfall is there and you have room for enough covers.

Check out similar setups close to where you want to set up. Try them out, check out their reviews. Do a head count of customers entering on different days and different times of day.

I did a head count on a competitors store just down the road to where I was opening a fast food restaurant and I counted 810 people go through their door in one hour between 3 and 4pm on a Saturday. Combine that will working out an average spend and that is very useful information.

Why are you opening a cafe? The issue I have with a small cafe is it tends to be a lifestyle business, especially if you have to share the profits between several people. Not many small cafe's make a very good living for their owners and it is expensive and difficult to scale unless you have something strong and unique you can turn into a franchise business.
 

good rebel

New Contributor
Apr 2, 2019
7
2
13
When it comes to starting a bricks and mortar business such as a cafe location is your primary concern. You could pay 10x the rent in one location compared to another and it would be fully justified if the footfall is there and you have room for enough covers.

Check out similar setups close to where you want to set up. Try them out, check out their reviews. Do a head count of customers entering on different days and different times of day.

I did a head count on a competitors store just down the road to where I was opening a fast food restaurant and I counted 810 people go through their door in one hour between 3 and 4pm on a Saturday. Combine that will working out an average spend and that is very useful information.

Why are you opening a cafe? The issue I have with a small cafe is it tends to be a lifestyle business, especially if you have to share the profits between several people. Not many small cafe's make a very good living for their owners and it is expensive and difficult to scale unless you have something strong and unique you can turn into a franchise business.
yes location is an important factor that affect the business.we would not have any money to rent out any expensive place we are planning to provide a good vibe for customers at an affordable price
 

Sponsored Offers

  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
I thought I would post up the first video from the newest 2021 program content... Just a...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I have not offered one of these in a while, but it looks like I have time to take on an...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hi Lex, I looked at several options including Kajabi and settled on the Divi theme on Wordpress...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
The story is BASED UPON a true story. The details aren't entirely accurate or from a distinct...



Forum Sponsor

Grow an online business:
- Start immediately!
- Master business skills!
- 100+ Fastlane students enrolled!
Review & Details >

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom