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is it better to live in a separate place or inside your shop.?

My idea was that when i start my coffee shop, id live on the second floor, but i don't know if that's better or worse than just living in a separate place.

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Kelley’s Answer

What a thrilling plan you've got there! As with most inquiries, the answer can vary. Whenever I'm faced with a decision, I find it helpful to weigh the advantages and disadvantages of each option. This technique often illuminates the best course of action. Let's explore some of the upsides and downsides of residing above your shop that I've come up with... Can you think of any others?

Upsides:
- Minimal travel time. As a new business owner, you'll likely be putting in a lot of hours, so having a short commute can free up more time for you to focus on your work. However, remember to consider the potential impact on your work-life balance, as mentioned in the downsides below.
- Financial savings. If you own the building housing your coffee shop, you could save money as you'd be covering the mortgage for the entire property, eliminating the need to pay rent or a separate mortgage for your living quarters.

Downsides:
- Financial constraints. If you're unable to purchase the building where your coffee shop is located, you might find more affordable housing options elsewhere. This is particularly true since prime business locations often come with higher rental costs.
- Work-life balance challenges. Living above your workplace can make it tempting to devote all your time to your business, especially when you're just starting out. As a new business owner, you'll have a mountain of tasks requiring long hours. Commuting from work to home provides a necessary break from the "office" atmosphere, allowing you to catch your breath.
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Vasudha’s Answer

It can be helpful to have distance between the place you work and live, to encourage work-life balance.
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Rose’s Answer

Choosing to reside on the second floor of your business is a clever strategy. Not only will it help you save on rent or mortgage costs, but it also places you in close proximity to your investment. Living above your business also provides the advantage of easily distancing yourself when you need a break or some downtime. Imagine the unique loft or apartment you could design, especially if the building is an interesting, old structure located in a historic part of town.

However, remember to do your homework. The location of your coffee shop is crucial. Pay attention to local trends, demographic details, the distance from other coffee shops, and consider what unique offerings ("Special Nitch") you can provide to make your business stand out.

Wishing you the best of luck!
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