How Much Can One Reasonably Pay In Rent
Business By Lenette Updated 7 Jun 2006 , 10:45pm by skylightsky
for a shop? And not kill yourself trying to do it? The rents are VERY high around here avg about $1000-$1500 a month. Very few are less than that. I really want to take this to the next levle but I want to stay small and not get bogged down with a lot pf production work to meet the overhead. Plus I am not trying to work 80 hours a week to put money in someone else's pocket (i.e. rent). Am I nuts for wanting a shop? Would I be nuts trying to meet those types of expenses? Any feedback is much appreciated!
Not long ago, there was a show on Foodnetwork about a woman who started a bakery. She has a good location and lots of skill. However, to make the overhead, she had to add other goods besides cakes. She had to have lunches to meet the bills, and that means additional staff.
A cake shop is a very expensive proposition, and most areas won't create enough cake-only business to pay the rent. there are a couple of other options, but none are perfect.
Find a way to incorporate your home and work (build a kitchen?) I always dream for a building wil a business below, and residence upstairs. One mortgage, no commute.
find a business partner who wants to do something similar and share the risks-but get a very good lawyer. Perhaps a sandwich shop that wants desserts?
It is cheaper to pay $1,500 a month to a mortgage company and have your home remodeled to meet commercial regulations.
Besides, it is your home and at least you would have a new kitchen.
That sounds pitiful, but REALLY think about your options.
Downfall is you have no foot traffic. You have only reference and some people DON'T like buying cakes made out of someone's home. They simply don't believe it is "professional."
So... justify, or at least try to make the ends meet, financially.
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