3 answers

Creating A cafe

Asked Ceredo, West Virginia

So I want to set up and have a running cafe when I get older. I'm in 10th grade now. Would it be best to start saving up money and plan how I want my cafe now? Or should I wait? #career #finance #career-counseling #career-path #restaurants #project-planning #business-finance

3 answers

Nancy’s Answer

Updated

What an exciting idea! Now is the time to focus on education. The plans for your cafe will likely change as you gain new experiences, so that can wait. Try to get work experiences in different types of restaurants. Consider taking accounting and finance classes in community college. Most new restaurant businesses fail, so it is important to have a strong business background first. Hospitality management is another possible major for you. Invest in yourself and later on you can invest in a particular business goal with better strategy and focus!

Lashay’s Answer

Updated

I agree with Nancy. Definitely work in a cafe and you are at the perfect age, pending your parents' approval . You're thinking right, save, save, save. Franchising or new start ups can be a risky endeavor but if you wait a few years it can become worth it. Also, location is crucial as is marketing which may become an added expense if that's not your speciality. Word of mouth can help as a form of advertising so be prepared to attend public gatherings with cards, flyers, samples, etc. And, yes any Small Business Association or Chamber of Commerce that you can join locally after education in Business (which includes accounting classes and economic classes) will be highly beneficial. Best of luck!

Lashay recommends the following next steps:

  • Graduate HS; consider community a 2 or 4 year degree in business management (which is exactly what you'll be doing).
  • Chonider products you'll want to sell and why
  • Save,save, save. And think of investor (family, friends, venture capitalists)

James’s Answer

Updated Portsmouth, Virginia

Hi Ruth,

Wait! Your ideas will be better served by you waiting until you know exactly what you want to do.