If you've ever called the number on a "For Lease" sign, we're guessing the conversation you had was pretty confusing.
Maybe it went a little something like this...
You: "Hi, I was calling to get some information on the store I saw on Main Street that's empty, next to the flower shop?"
Mystery broker (let's call him "Kevin"): "OK?"
You: "Um, yeah, well, is it available?"
Kevin: "Yeah."
You: "Uhh, OK, how much is the rent?"
Kevin: "It's $40 a foot."
You: "Oh, OK...how much is it per month?"
Kevin: "Well, it's $40 a foot plus triple nets and it's about 2,000 square feet. Can you send me your business plan?"
You: "Wait - I'm not even sure if I'm interested, I don't understand how much ...
Most of the time, our first conversation with a prospective Pedal Retailer makes them very happy. They’re happy (or at least relieved) to hear that (a) they can do what they’re dreaming of doing, and (b) we can help them do it. But without fail, we eventually make our way to the topic that triggers the cortisol...
We always manage to upset people when we answer the question, “so how long is this going to take?”
Since we’re committed to “real talk, always,” we’re honest with our clients about the realistic timeframe to opening a bricks-and-mortar business. We explain that the process takes anywhere from six to 18 months, and that seems to be about six to 18 months longer than they wer...
Why do so many new and growing businesses make bad decisions when it comes to signing a lease? I went to the wise oracle at Delphi — just kidding, I went to the internet — to learn what (as scientifically as possible) makes a good decision.
Scholarly-ish articles and graphics on the internet repeat similar concepts of the elements deemed essential to the process of making a “good” decision. It struck me over and over again how painfully absent many of these are for people seeking to sign their first…or even second or third lease. Here's what I found...
There are the four main pillars of good decision making:
Define Goals - What exactly do I want/need?
Uncover Alternatives - What are ...
Maybe you’ve been managing coffee shops for years, made a billion cortados, can schedule your staff in your sleep, and now you’re ready to strike out on your own. Or maybe you’re done with corporate life, and your great resignation and passion for nitro cold brews has ignited your dreams of owning your own coffee shop. Wherever you’re starting, you need to know how to open a coffee shop like a pro, even if it’s your first time.
Here are five simple rules to opening a coffee shop without making rookie mistakes.
Rule #1: Have a business plan with financial projections.
If you’re more comfortable dialing in gorgeous washed process Ethiopian coffees than creating financial models, that’s okay...