Anybody here own their own business?

[indo80]

Thanks bro...what's your opinion of selling coffee? I know the market is arguably saturated and people are as loyal to Tim hortons and Starbucks as their brand of beer.

I just see the lines at Tim hortons literally non stop 24 hours per day my idea is to sell coffee and treats. What do you think? Bro the Tim hortons near my house must do at least 20,000 per day and that's probably a conservative eyeball estimate

I am not a specialist in the coffee shop arena but i have known someone who did poorly opening up donut/coffee shop businesses.He was a regional manager for one of the popular chains but he tried his hand on opening up his own shops. Unfortunately he came to realize the mass public is just too familiar with your starbucks, dunkin donuts, and tim hortons. He had major losses and had to close his shops. It may be different in your area but that was his experience.

 

[Jack Handy jr]

You a Po Po right, coffee and donuts is something you know.

If you in SoCal, I suggest you go near the border because the Border Patrol is active 24hrs, and they need dem cawfee and da nuts. San Diego border is probably to expensive. May I suggest Mexicali/Calexico.

ahem "popo" is a pejorative sir. me and my ilk prefer the more refined SOCAL euphemism of "one time" thank you.

 

[facePuncher7]

I started a game/app development business on the side of my day job. Took about a year off my day job to do it. Over the last 3 years it's brought in about $30k of passive income while I do other things.

Not a great financial return but I've enjoyed doing it. Given that there were no overheads it was a good thing to try and I have a bit more of an idea about how business works now.

 

[ralphc1]

i know most of my offerings in the berry are of a let's say light hearted slant but for once I'm being serious with a thread.

Im sick and tired of being an illuminati labor unit, scraping from check to check. Over the past three years I've fantasized about opening a coffee and donuts shop basically some type of Panera bread/Starbucks ripoff.

I've noticed that a lot of people that aren't medical doctors or something that have a lot of disposable income seem to have their own businesses.

I just want to know if anybody here started a successful business by submitting a business plan to a bank and securing a start up loan.

The only way to get a business loan is to prove that you don't need the money.

I've had a business but it never involved any layout of money. It was just people who valued my opinion that paid me for it and sometimes a little work at their facility.

 

[DIABOLUS]

I working toward starting my own company. Motorcycle parts and related merchandise. Plan is to start small, and work my way up to the bigger, more expensive offerings.

First will be decals, stickers, pins, etc.
Next will be screen printed t-shirts and bandanas.
After that comes small motorcycle parts....handlebars, brackets, headlights, etc.
Then comes more complicated parts....exhaust pipes, gas tanks, seats, fenders.
Then complete motorcycle frames.

If all that goes off as planned, maybe I can even get into building and selling complete customs. We'll see.

 

[shockaholic12]

I work as a reality TV producer in LA. The pay is decent but it's not enough to afford a home in a decent neighborhood so something has got to change. I have to move. Problem is my job doesn't exist anywhere besides LA and NYC and the skills are a little difficult to apply to most positions I see listed in cheaper areas.

So looking at opening a drone/aerial photography business. Shoot commercials for local businesses, some real estate, shoot some stuff for the local news outlet, make 3D models for construction sites etc. I think I can get up and running for about 13-20k with gear, insurance, and post production software.

Tough call though. New industry so is a consistent market really there? Also would need to borrow the start up costs because moving would be a strain enough. My father recently died just as my parents were retiring so mom has enough money for two people to live comfortably on but I've never borrowed more than $200 from anyone. Makes me uneasy about asking her. What if I totally fail and some tragic medical issue arises and she needs a lot of expensive care?

 

[original doom]

I am not a specialist in the coffee shop arena but i have known someone who did poorly opening up donut/coffee shop businesses.He was a regional manager for one of the popular chains but he tried his hand on opening up his own shops. Unfortunately he came to realize the mass public is just too familiar with your starbucks, dunkin donuts, and tim hortons. He had major losses and had to close his shops. It may be different in your area but that was his experience.

His Coffee was likely just plain terrible.

Its surprising the amount of Cafes that serve weak coffee.

If OP wants to open up a coffee joint ensure your staff actually knows how to make Coffee.

 

[Losfer Words]

I don't own my own business but I work as an independent contractor when I do live sound which is my main source of income right now

 

[ikareteru]

i know most of my offerings in the berry are of a let's say light hearted slant but for once I'm being serious with a thread.

Im sick and tired of being an illuminati labor unit, scraping from check to check. Over the past three years I've fantasized about opening a coffee and donuts shop basically some type of Panera bread/Starbucks ripoff.

I've noticed that a lot of people that aren't medical doctors or something that have a lot of disposable income seem to have their own businesses.

I just want to know if anybody here started a successful business by submitting a business plan to a bank and securing a start up loan.

Advice from an entrepreneur:

Be wary of resturants and coffee shops. You should really know the business type in and out before you start. Every detail about that business.

That said, maybe there is a market for a police coffee shop where you can serve what police officers like?

Most successfull businesses are
highly specialized, highly niche. Meaning the owners know what they can contribute to the marketplace.

If you can focus on the value or contribution the company brings, it's easier to get a foothold in the market.

 

[MadSquabbles500]

ahem "popo" is a pejorative sir. me and my ilk prefer the more refined SOCAL euphemism of "one time" thank you.

But seriously, what is you location? That matters the most.