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Forums - General - I want to start my own business...

I want to start my own business. I currently work at home, doing designs, photoshops, picture corrections and some prints. But is not a very good business... too much competition here.

So, I want to open my own business... I never really liked to work for anyone.

I'm thinking about a Bar-Cafe... selling coffe, latte and fruit juices, and after 7:00 pm., start selling also beer and drinks. Also, planning to have free WiFi and Guitar Hero tourneys...

The business will be in Nuevo Laredo, in Mexico side. With $5000 is more than enough. The rent is about $300 to $400 and the internet is about $25 dlls for a 4MB connection. The beer is about .40 cents for the bar owners, and can be sold at $3 dlls.

Any suggestions for this kind of business, or a sugestion for another business?



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maybe some live music, like local bands



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nextgreatchamp said:
maybe some live music, like local bands

 

 Yeah, definitely... nice suggestion.



The rent is about $300 to $400. That is cheap.






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....a bar?



^_^

Yeah... Mexico is very cheap for services and rents, food, etc. But electronics, videogames and cars are very expensive.



skeezer said:
....a bar?

 

 A coffe-bar, kinda like this

 



Man, startups like you are thinking about ... well, they tend to fail at alarming rates. Have you done the proper market research? Do you know your competition? Do you know what you will have to do to make your biz stand out? Doing designs will get you a ton of loot. Why not try e-lance (google it) and land a few design jobs. You could work from home, get paid and funnel those profits into this biz.



Also, I'd recommend chatting with business owners to get a feel of total operating costs. I am not sure about Mexico's regulations, but in the U.S., you'll need to apply for a liquor license and that alone could take years sometime. Plus, you'd have to have insurance to like $500K or some high number to cover you, your equipment, the building and workers.

I have been in biz for over 3 years and it can be a headache at times.

Edit: You'll also need to look into distributors and such. Since you are starting out kinda small, you will have to work something out with food, beverage distributors to supply you with stuff. Please, you will need some cash to advertise locally.