Hi All,
Looking for some pointers from current cafe owners or small business savvy members.
A long running but tired cafe is up for sale in my local area. Seats about 35, the decor is pretty awful but the location is very good. It's been a constant dream of mine for a few years to run my own cafe and this is looking like, without yet committing much time/resources, to tick a few of the boxes.
My question is this, I'm going to pick up their financial statements today to see if it's even a viable purchase and wondered what things, cafe specific, to look for. I'll be reviewing these with a few personal friends (accountants and one very successful entrepreneur) some of who are in the service industry, but none are cafe/restaurant specific.
Any heads up on particular things or anomalies you think I should look for would be appreciated. I know my post count isn't high here, I'm a reader not a poster, just hadn't had much to contribute here yet - just want to assure you I'm not a clueless idiot who thinks that cos Pachino likes Vittoria it must be great so now I need a 6 'head' synesso like St Ali to make cup-of-cheenos.
Me looking at their financials is simply an "ok, is this even possible for me to think about?" .
Appreciate your time and help.
Looking for some pointers from current cafe owners or small business savvy members.
A long running but tired cafe is up for sale in my local area. Seats about 35, the decor is pretty awful but the location is very good. It's been a constant dream of mine for a few years to run my own cafe and this is looking like, without yet committing much time/resources, to tick a few of the boxes.
My question is this, I'm going to pick up their financial statements today to see if it's even a viable purchase and wondered what things, cafe specific, to look for. I'll be reviewing these with a few personal friends (accountants and one very successful entrepreneur) some of who are in the service industry, but none are cafe/restaurant specific.
Any heads up on particular things or anomalies you think I should look for would be appreciated. I know my post count isn't high here, I'm a reader not a poster, just hadn't had much to contribute here yet - just want to assure you I'm not a clueless idiot who thinks that cos Pachino likes Vittoria it must be great so now I need a 6 'head' synesso like St Ali to make cup-of-cheenos.
Me looking at their financials is simply an "ok, is this even possible for me to think about?" .
Appreciate your time and help.

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