It has been a while! (Business Question)

[HutchisonSorbo]

Good afternoon all!

 

It's amazing how far along the forum has come over the years, I'm looking forward to getting back into the discussions!

 

My question to the forum is about a venture I want to dive into but I need some advice before I get the ball rolling. I'm not sure if everyone remembers this video.

When I first saw this video I was in love with the concept, we don't have anything like it in Melbourne. I've wanted to start a cafe for a while and I've finally started doing thorough research into it's viability, I have a friend who is an amazing chef with a great deal of experience in the industry. 

 

I want to combine my love of technology/gaming culture with my obsession over simple, tasty food. I want to start out small and use the main lounge as an area for consumption and socialising with a small room designed to be hired out with items like projectors and consoles, slowly expanding as funds allow.

 

Am I crazy? I'm not in it for profit, aslong as I can pay the bills and have some funds left over for the holiday savings. It would be great if some Australians shared their insight but any contribution would be greatly appreciated.

 

Take care everyone, hope everyone is enjoying their year so far!

 

Ryan

 

[Dredgy]

3 hours ago, NoTreble said:

Etc

As someone who has massive experience in hospitality and runs a few businesses including a restaurant in Australia, I would say go for it. Melbourne is definitely the best market for it, and if you keep your food tasty and simple as you say, with a few good craft beers and wines, I think it would be a good hit. 

 

Just remember not to get too emotional/attached to the concept and to aim for some level of profitability (because it will eat all of your time). Things are subject to change all the time, and as you grow a business you'll run into more problems than you could imagine, so sometimes you have to pivot to different ideas.

[HutchisonSorbo]

1 hour ago, Dredgy said:

As someone who has massive experience in hospitality and runs a few businesses including a restaurant in Australia, I would say go for it. Melbourne is definitely the best market for it, and if you keep your food tasty and simple as you say, with a few good craft beers and wines, I think it would be a good hit. 

 

Just remember not to get too emotional/attached to the concept and to aim for some level of profitability (because it will eat all of your time). Things are subject to change all the time, and as you grow a business you'll run into more problems than you could imagine, so sometimes you have to pivot to different ideas.

I really appreciate the insight, you make some excellent points. With your experience it's reassuring that you don't think it's a terrible idea. Thank you for your time!

[captain_to_fire]

6 hours ago, NoTreble said:

Am I crazy? I'm not in it for profit, aslong as I can pay the bills and have some funds left over for the holiday savings. It would be great if some Australians shared their insight but any contribution would be greatly appreciated.

What do you mean not in it for the profit? Why bother put up a business if not for profit? Nonetheless, your location is perfect for it. Just make sure the coffee would taste better than Starbucks and the donuts would be better than Tim Hortons or Krispy Kreme. I think that kind of business might need a huge capital so unless you have a huge savings, a loan might be necessary. 

[HutchisonSorbo]

What I mean is the expectation is not to become rich from the venture but be able to sustain my current way of living and provide for my future family. It's definitely going to need a sizeable investment which is the next step, consistently great food and beverage is going to be key for sure! I appreciate your input, thank you for adding to the discussion!