Underscoring the need to adequately finance your business and negotiate preferable lease provisions for your coffee shop, another well-intended, but poorly planned business fails.
Another case of bad business planning and finger pointing…
On the bright side, there is something that we can all learn from this case study:
Make sure that you have sufficient startup capital to staff and support your business while you develop a regular clientele: Startup Budget
Don’t forget to budget enough to pay yourself: Pay Yourself
And, of course, be sure that your business advisor or attorney negotiates your lease provisions, in this example, a right to renew for additional terms at a set price: Choose Good Advisors
They all seem like such insignificant details when you are excited to get those doors open for the first time; however, it is how you handle those tiny details TODAY that will keep the doors open in the long run.