Home – New Forums Starting your journey Got a shop but think about change

  • This topic is empty.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #973956
    acindyworld
    Member
    • Total posts: 3
    Up
    0
    ::

    Hi, all, I am in a tough situation now, I have retail store, but does not really work, only could cover the rent. at this moment, I am thinking about start a Cafe(the shop is on King st, Newtown), with couple of months research, and sorted out everything, one of my friend going to join me, it’s looks like the win-win situation, unfortunately, his parents will not lend him money, and he does not have any deposite, I do not have enough money neither, even to start up only need $50,000(I have been put all my money in the shop). I have 2 years lease left, thinking about release, cause the rent is really cheap for my big shop, but it takes time, and it’s pretty risky if I am getting more stock. What are you gonna to do if you were me? thanks for advice.

    #1065211
    acindyworld
    Member
    • Total posts: 3
    Up
    0
    ::

    It’s Cindy again, the cafe idea was cafe&board games which has been approved bycouncil(took me 2 more months). clients could play board games with their friends while having a bit food and drink. was it a good idea?

    #1065212
    King
    Member
    • Total posts: 2,212
    Up
    0
    ::

    what does your market research tell you??

    What we think matters nought – we are not your customers and your demographic might be totally different.

    But I would ask, how many people play board games these days?

    What age group – the young ones will be all digitally focussed, unless you can get some novel way to introduce them to the joys of chess/checkers/majong etc etc.

    If you can attract a few, how can you then create a new local movement in it. Competitions? Friends nights etc…

    This is what a business plan (including marketing plan) is for, to direct your thought process logically, looking at all aspects, including initial viability.

    #1065213
    Keeta Nova
    Member
    • Total posts: 294
    Up
    0
    ::

    They still play boardgames in Newtown!

    I have seen King Street change and develop over the last fifteen years. Many businesses start up, evolve into something new, or vanish into nothing.
    While the locals are open to new ideas, the only businesses who have survived long term are fairly standard. Many of the great cafes still look empty throughout the day. Why? Too much competition.

    I am not saying your business can’t work, but you are entering an area that is bright with new ideas, but few make it through. I can only guess at the reasons behind this, but you will need to find the answers out for sure.

    #1065214
    sixx
    Member
    • Total posts: 333
    Up
    0
    ::

    Is it just me or is there a huge interest in baby clothing and cafe’s as of late?

    Does Newton have a baby clothing store? there’s obviously a boom on.

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.