Originally Posted by bigwhitet
well all of these suggestions are great, just a couple things, there is no hookah lounge within 80 miles of where i live, and there is only one smoke shop within 50 miles, I have about 5 people plus me that want to do this and we would all go in on it as co-owners. i dont know if that is the best thing but you know i dont have the credit or the funds to do something like this but with all of us together i think we can do this. All of these suggestioins are great and you guys are awesome but all in all do you guys think that this is a good idea and yes john all of you can be vip members
I'm going to be very blunt because you seem like decent guy and i'd prefer not to see you go down in flames.
First of all 5 or 6 co-owners is simply unworkable for any business so if that is what you are looking at you're sunk right off the bat. Given that the start up can't possibly be less then 50K and you'll need at least that much in reserves to keep the doors open you'd be crazy to depend upon 5 or 6 people chipping in that sort of money. You haven't said anything about cafe management and book keeping experience so I assume you don't have any and unless you're very capable in those areas it's a waste to even think about getting into the business. You never said why you think that it's a good idea to open up shop other then the lack of competition and until you get that sorted you'd be wasting your time and money. I you're serious you'd pay to get some marketing surveys done (count on that running no less then 10-15K) to see what sort of potential you've got to work with. Going into business with friends is a good way to lose your money and your friends. If want to why i'll tell but hopefully you can see that already. Assuming everything works out in a year or two your cafe will be bringing in 40 - 50k split 6 ways which doesn't strike me as worth the risk.
In short, do something else.