On my walk this morning I did a lot of thinking about things I dream about–winning the lottery, how I would spend the winnings, moving home to the island, starting up my coffee shop, coffee!–and one thing has stuck in my head all morning…starting up my own coffee shop!
I have so many ideas! I have a name picked out, the way I want it to look, the types of things I would sell. The only problem is, there are so many independent coffee shops out there. Is it possible to come up with something unique enough to make a mark in, what seems like, an already saturated market? I guess that’s the only thing that is holding me back. When I took my hotel management course (two years wasted in college because I didn’t finish… not a proud thing for me that’s for sure) we heard that most businesses in the hospitality industry fail in the first 2 years! It was something like 80%-90% or something crazy like that! That is a huge number! One that makes me really nervous and almost kills the dream for me….almost!
What that number really says is that, if you can be clever enough to come up with something that none of the other shops have, you have a 10%-20% chance at succeeding! It’s a small number for sure, but its bigger than zero!! There’s hope there… maybe the dream can come true… someday. Until then, I have downloaded a bunch of material to read on starting businesses and how to register a name and all of that stuff. I’ve even begun to look at grant programs. I’ll keep taking finance classes, throw in a marketing class or two for good measure. I might even see if there are any community classes on small business ownership. I’ll even buy a lottery ticket once in a while (because seriously, what’s the point of dreaming about winning the lottery if you don’t buy a ticket!) Someday I’ll be inviting you to come have coffee my at the “managers table” in my shop!
Have a great day!