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EXECUTION how to test market

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good rebel

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Apr 2, 2019
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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
 

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RazorCut

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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.
 
OP
OP
good rebel

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
 

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