Private Banking

Quick Money In Cafes

Looking for a relatively safe way not just to make money, but quick money appears impossible these days.

I thought so too until I had a very cursory look into a number of clients’ assessments. A small group stood out and I was very impressed, especially when the economy and the common knowledge seem to indicate otherwise.

Question: So, what was it?

Answer: Cafes.

Now, wait a minute, didn’t Second Cup and Tim Hortons get hit hard by both the economy and customers going away? Yes and yes. But there are some key differences that stood out. Here’s a list of what made the successful cafes different from their more illustrious cousins. They are in fact the exact opposite.
The successful cafes were:

1) The cafes were small and simple.
2) Menus were tiny and cheaper.
3) Small inventory.
4) Minimum hardware.
5) Cozy and friendly.
6) Very local social focus.
7) No franchise fees.
8) Low overheads and variable costs.
9) Very quick turnaround with little waste.
10) Low set up costs.

Now, what I could see was that these cafes were the exact opposites in everything listed here.

The big boys have the big costs associated with such a location.

So, who wins? The local, cozy, mum and pop social place with a regular cash business and a strong following does.

And don’t be mislead by their small operations – those on my list, netted in the six figures for the year.

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Technorati Tags: Cafes, Cash Business, Quick Money

Tags: Cafes, Cash Business, Quick Money
Posted in Business Growth, Make Extra Money During The Recession, Quick Money In Cafes | 4 Comments »