Wednesday, December 22, 2010

I want to start my own coffee shop business, but I have a lot of questions!? -

1) Do you need a college degree to do start your own local coffee shop?2) How old do you have to be to start it?3) How much could I make a year if I m successful?4) What all do you need to know?

You will not need a college degree, though some business classes may be helpful, you will need to be at least 18 years old to sign contracts legally (such as leasing a space). Knowledge of coffee will probably be good, and you can make rough estimates of what your projected profits would be the first year. You should also look into incorporating or forming an LLC so that you are not personally liable in case the business goes under.

You need to know the answers to all these and more before you think about starting your business. Age, college degree are not what will stop you. What will stop you or make your business a failure is a failure to develop a solid business plan with realistic sales projections, details of the business, funding and financial modeling, hiring, employee handbook, etc. These are just a few to start with. Plan in detail now or fail later. I wish you all the best. Good luck

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