# Location, location, location. How does it work?



## Tova (Nov 7, 2010)

I am currently knee deep in research material on how to open a coffee shop and an embryo of a business plan is beginning to take shape. One piece of advice I have come across at a couple of places goes something like this: "Find your location, then do your research, write your business plan and start applying for financing."

So, having never bought or leased a retail premises before I'm wondering; how does this actually work? Is it quite common that a property can stand empty for several months and that you can indeed identify the perfect spot and then spend time coming up with a business plan and money before you approach the owner / landlord? And is this the correct order of doing things? I would be grateful if people would share their experiences with securing premises.

Thank you,


----------



## Glenn (Jun 14, 2008)

Great question (and welcome to Coffee Forums UK)

Not sure that the above is the 'correct' way (not even sure there is a 'correct' way) but would rather start with a concept/basic design (that is flexible) and identify the approximate size of the space you are looking to populate, then start to cost the components (machine, suppliers, standard fitout costs), line up the financing based on average projections of leases in the area you are targeting, then (and only then) armed with this information - start looking seriously at premises

Allow a contingency fund and assume that the space will need to be gutted and completely fitted out.

Hope this helps


----------



## coffeeman (Mar 20, 2010)

A chap I was on a barista skills course said that, when he was identifying potential properties, he sat in a unit he had earmarked as having potential, and counted everyone that went past. Many councils also have footfall figures but, in my opinion, these are rubbish. If 100 people walk down a street in a day thats great but, if it's mainly mums your plan will be different to if it's all students.

If you're at the stage of writing a plan etc go to business link, they offer a course for opening businesses, normally over 4 days covering marketing, money and planning and, best of all, it's free and the banks love the certificate you get

Oh and welcome to coffeeforumsUK, hope we can all help


----------



## Tova (Nov 7, 2010)

Glenn and Coffeeman,

Thank you both! Some excellent advice there. And good to see I'm on the right lines in terms of trying to outline the business plan first so I can then go on and look at premises that might work (with a bit of flexibility to the plan of course). Once a suitable premise is identified, how long should I expect before I can start fitting it out? I realise that question is like asking how long is a piece of string but again, if there are some examples kicking around out there it would be great.

Thanks again,

Tova


----------



## agduncan (May 1, 2010)

Hi Tova, I'm currently doing similar sort of process. If you have any questions, especially on the business plan/finance side (I'm an accountant) give me a shout, or ask Glenn, he knows how to get hold of me.


----------



## Tova (Nov 7, 2010)

agduncan - Thank you! I have just sat down and typed out a long private message for you but apparently I am still too much of a rookie to the site to be allowed to send it. Need to have 5 post replies first. You live and learn. Was going to send one to Glenn too, some things I don't want to post in an open thread.

I can however say that you guys are fantastic. I can't believe just how helpful and friendly everybody seem to be. I have been browsing a lot of the threads on the forum and you really do share great information.


----------



## Glenn (Jun 14, 2008)

1 more post and you'll be there









drop me an email at any time


----------



## Tova (Nov 7, 2010)

Hello again,

Sorry about the long radio silence, horrible lurgy going around the office had me pretty much out for count for weeks. However, I am back and fighting fit and have had some developments. As there may be more people on here in the same situation as me I thought I'd share them.

Firstly I have had a meeting with a business advisor at British Library. At British Library there is a business and IP centre and there you can apply for a one-to-one session with an advisor. Having outlined where we were at in terms of planning before we met up the advisor arrived armed with a bunch of print-outs from Cobra (a business information provider) and useful links and associations. He did warn me that as Business Link was a Labour project it is likely it will not be around for much longer so will be booking myself onto workshops as soon as possible. They no longer do the full 4-day course but have instead taken the various parts from that and offer them as free-standing half- and whole-day workshops. He also advised me to approach the National Enterprise Network http://www.nfea.com/ as they too offer free workshops. Again a Labour project so will have to action that fairly soon.

Secondy I have registered with my local Business Link. After chatting to one of their advisors for a bit she emailed through a variety of links and documents relevant to where I am with the business planning. Particularly advice on financing and funding, which is very useful.

All in all very good and I feel as though I am moving forwards. Have realised there is no linearity for a project like this, now I realy have to do everything at the same time. If I don't go mad there will hopefully be some real tangible advancements made soon


----------

