Two sisters looking for a busy high road to open up a cafe / bar...

[Serap Aydemir]

Hi Everyone,

My first time here, so hope I'm posting at the right place.

I've been wanting to run my own business, ideally a cafe / bar / restaurant type thing for a long long time. My initial place of location was Angel & Islington since it's not too far away from me and my sister lives in Dalston, so it's pretty ideal.

But I never thought finding a place to turn in to a dream place would be so difficult!! We don't have a really high budget (£90K including purchase, paperwork and decoration if need be) so we can't afford somewhere too big. I really want it to be on a busy high road since it's always been my dream to open up a place somewhere busy as I'm a bit of a workaholic

I'm interested in places around Dalston, Angel and Islington... If anyone knows anyone who is selling a place, please get in touch. This is going to be a family-run business with my sister and I (and support our family) and hoping to turn it in to our dream business.

Thanks a lot in advance to all and fingers crossed we'll find an ideal location, with your help of course!

Thank you so much!

Serap xx

 

[DavidJohn]

Hi Serap,

Hope your search is going well.

First you need to decide what you want to do - a café, a bar or a restaurant? What skill's do you have that relate to each of those? Once you know what you want to do, you can choose the ideal location. I'm going through the same thing myself, try searching on google and you will come across lots of agents. Start talking to them and eventually you will find something!!!!! Unfortunately London is London so not always cheap!

Good luck!

 

[ethical PR]

Merhaba Serap

As you know the area you are looking in is incredibly expensive and populated by hundreds of cafes, bars and restaurants.

If you have catering experience and have come up with a new twist on what's already out there why not try having a stall in Whitecross market or at one of the pop up venues where people go to buy street food.

Do your market research and then start up small to trial and refine would you do, once you have established there is a market for your concept then you can look at saving to open up somewhere more permanent.

 

[MOIC]

Location will depend on what type of premises you want to open (square footage will differ widely for each type of business, cafe / bar / restaurant and will affect the rent, rates, fitting out etc etc)

£90k sounds a lot, but if you need to kit out the shop from head to toe, it will take up the majority, if not all of your budget.

What experience do you have of running or managing the type of business you propose to open?

Have you looked at what legalities/requirements/certificates are required for each of the different types of businesses you are looking to open as well as licencing issues?

Its always best to start small, gain the necessary experience and expand as your budget allows.

As a rule when opening a retail venture, keep 30% of your budget untouched for a rainy day.

The last thing you want when running a food related business, is to be under pressure financially as running these types of businesses successfully is very hard and time consuming.

All the locations you have mentioned are "Prime" and perhaps it may be a good idea to look and compare rents in areas adjacent to these locations.

Prime locations tend to have a tendency to expand into neighbouring areas in a fairly short time.

I wish you luck with your project.

 

[kingblinguk]

On busy road it will be real expensive

 

[Stuart Bailey]

don't buy just rent the premises for a couple of years.

 

[beasty]

Surely you should base the location on where there is an untapped demand with rents at a cost that will allow you to turn a profit? Versus opening one in Islington as that is your dream location.

I would bet a more likely route to success would be to find an area that NEEDS you, make money, make a name then move towards your dream location having learned on the job in the area in which it is easier to succeed.

I do not envy any BandM shop owner operator of any type, but do like a nice cake

 

[Chris Ashdown]

Popular location large rent and rates
New owner 3 months rent in advance plus landlords legal costs and his building insurance
Your own insurance
Your own legal coasts
6 months wages as doubt you will make enough to pay yourselves in first six months
Decorating and shop fit
Deposit for Phone and Heating (new companies often asked for this)
Equipment

How much of the 90K do you have left to work with and advertise

Busy road no stopping or parking so no customers

Every pub is a restaurant these days so very overloaded market, Cafe cheaper to get and run and more opportunity to stand out, but big stores no have own cafe's

Think out of the box, look at industrial estates or areas with many offices good local trade for morning, lunch time, lower rent and rates, maybe a mobile cafe

 

[learnster]

Where are you currently looking for opportunities? Are you searching for existing businesses for sale or empty commercial properties to let?

 

[stender]

What type of food? as you'll know competition would be fierce opening a mediteranean in Dalston some nice cheap ones there!

 

[TotalWebSolutions]

What type of food? as you'll know competition would be fierce opening a mediteranean in Dalston some nice cheap ones there!

Last post by the OP was this one (March 2015) and nothing since so I doubt you are going to get a response

 

[The Byre]

£90k would have got you guys a shop/cafe in Islington in the 1980s.

For that kind of money, you are going to have to go well South of the River.

 

[Chris Ashdown]

St Helena is quite cheap especially the airport, that could do with a restaurant

 

[TotalWebSolutions]

Last post by the OP was this one (March 2015) and nothing since so I doubt you are going to get a response