Business idea - cafe shop

[Blusmurfette]

Hi all

I was recently made redundant and have decided this is the time for me to finally embrace my business ideas.

I'm thinking of developing a child friendly cafe, similar to what's previously been discussed on here and it's in a town where there would be healthy demand.

I'm going to develop a clear business strategy but my question to you all is in relation to financial backing to buy a premise and help starting up with initial costs.

Is it feasible, will I receive financial support?

Be grateful for any advice and feedback, thanks.

[cogitosum]

I thought it was more common to rent premises for retail but could be wrong.

Following as have similar aspirations and live in a village that's desperate for this!

[PortofinoRevisited]

Financial support from whom? If you have a solid business plan, your bank would be the place to start.

[HermioneWeasley]

Dear lord why are you asking a bunch of strangers on the internet if you are likely to get financial backing for a totally vague plan?

That is my only data point on you. Based on this I wouldn't invest my money with you.

[BobPatandIgglePiggle]

You may get a business loan if you have a decent business plan. Not sure what other financial support you're thinking of?

Be careful with 'child friendly' as some parents will read that as 'come in and let your kids run riot'

Good luck :-)

[Blusmurfette]

I acknowledge it does sound still a bit vague, I need to do some further research and get strategies in place, merely sounding out some initial advice.

Thanks for the insights, much appreciated.

[sanityawol]

Your local economic development officer at your council should be able to point you in the direction of business advice and any grant funding opportunities.

You'll probably need to put together a three-year month by month cash flow forecast that includes all income and outgoings. To some extent this is 'finger in the air' stuff, but it is important to be realistic and honest with yourself. You can manipulate a cash flow to show whatever you want to grant funders or banks. However, it is an important tool for you as well... it will let you see where you're likely to have lean months and allow you to plan for that.

There are templates available - spreadsheets are useful for this, as they will update across the whole year if you amend one figure.

[Blusmurfette]

Thanks for sanityawol, you've been very helpful.

[boxingHelena]

Hi OP where about are you thinking to open the cafe?
pm if you prefer

[mimilovell]

you really need to have a clear business plan before even looking financial backing. If you have not ran a cafe before, the best thing to do is get a job in one. Just so you know what it is like, what to expect, pricing, how to make a good cup of coffee, what people want etc...

[Gfplux]

Just thinking about the premises.
Do not buy as this will tie up huge amounts of capital that you don't have. Check out in your area shop premises that are to rent. Call up the estate agents and find out the rental and how long a lease you will have to sign. Remember if the property has not been a cafe before you will have to get change of use before you commit to it.
You should also check out regulations regarding selling food and also things like wether you have to provide toilet facility's etc.
One further point. The owner of the property will have to be convinced that you will be a good tenant.

[deepbluetr]

I would urge caution. I have seen many of these types of enterprises hit the wall in my area. When you are wrapped up in a small world of Mums and children it is too easy to lose sight of the big picture, and have a world view based on a subjective stance.

Cafes are extremely hard work, and at their most profitable when they can charge good prices for elegant surroundings.
There is not much profit in selling a few toasties and coffee.
What will make your cafe "child friendly" and stand out from other cafes?
You may find that your cafe is being used as a meeting place for a few mothers to nurse one cup of tea for two hours whil etheir kids run around.

The only places like this that work in my area are the big soft play type facilities ( where and entrance fee can be charged for good play facilities) or those attached to specialist shops- a good one I know that sells Montesori type toys and is the only supplier in town.

I would do your research first. You could end up losing a lot of money.