Re: Opening up a Lounge
Sounds like a good idea. I'm currently a part of a small circle of entrepreneurs who are researching the hookah-lounge business. We're far from being ready to launch and we're considering the set up in a very different area, serving a very different demographic. However, it seems wise to keep in mind that, depending where in Virginia you're looking, there are a lot of lounges there already. The vast majority of those are mediocre at best.
I would bet that most of those aren't turning much of a profit. I suspect that if you approach the endeavor looking to cut all the corners you can, you're going to end up with another mediocre lounge, instead of a great one, which it might be with a little extra TLC and capital.
Just about every time I visit a lounge in the VA area, I'm constantly noticing tiny little things that could be adjusted to better the customer's experience. But instead, they're little things that add up to me not wanting to return to that lounge. In my opinion, the hookah lounge is an excellent idea and a great market, but it needs a kind of renaissance to really be profitable.
So, all I'm suggesting is that perhaps looking for the lowest possible entry cost isn't the best idea. Raising capital and looking for private investors could potentially offer you the opportunity to be just that much better than rest of the guys out there giving you the chance to suck away their business.
This is my: