3 answers
william
Student
Elk River, Minnesota
4
Questions
Asked
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Is it a good idea to try combining two jobs into one?
as example, I'm thinking of running a coffee shop by day, a bar by night, but I don't know if that's a good idea or not.
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3 answers
Kevin P Hust, MBA
Risk Administration and Army Officer
201
Answers
Dallas, Texas
Updated
Kevin P’s Answer
William, pros and cons but ultimately because there is an over lap, it’s fairly smart.
So obviously as the owner, you’d be responsible to make sure the place is up and running. Longer opening hours means longer working hours. However, you’d maximize the the rent because you’re able to capture two different audiences. They might be the same person but now they don’t have to go to two different places.
Truthfully, I’m in love with the idea. Your decor would have to be well crafted to not be off putting to the other clientele.
Then another question I have is food, i feel like you’d need some type of food. It doesn’t have to be a full menu but just coffee or just alcohol is tough for the clients.
Location would need def to be considered as well. I feel like there is a marginal difference of morning folks wanting coffee especially on their way to the folks that would need a drink to decompress after work.
Either way, there are days where I need both!
So obviously as the owner, you’d be responsible to make sure the place is up and running. Longer opening hours means longer working hours. However, you’d maximize the the rent because you’re able to capture two different audiences. They might be the same person but now they don’t have to go to two different places.
Truthfully, I’m in love with the idea. Your decor would have to be well crafted to not be off putting to the other clientele.
Then another question I have is food, i feel like you’d need some type of food. It doesn’t have to be a full menu but just coffee or just alcohol is tough for the clients.
Location would need def to be considered as well. I feel like there is a marginal difference of morning folks wanting coffee especially on their way to the folks that would need a drink to decompress after work.
Either way, there are days where I need both!
Melissa Temen
Restaurant management
2
Answers
Becker, Minnesota
Updated
Melissa’s Answer
Located in Becker, MN, there's a place that perfectly embodies your idea. It's known as Dueling Brews, and it's definitely worth a visit. The concept is brilliant, as it seamlessly blends two distinct ideas. Depending on your specific interest, the answer may vary. Amit has provided insightful information on spatial and licensing aspects, so I decided to shed light on the physical and financial aspects instead.
Timing
The two ideas operate at peak volumes at different times of the day. A coffee shop, for instance, sees the most customers between 6am and 11am, while a bar is busiest from 5pm to 11pm. That's quite a long day. If you plan to hire a team to cover these hours, it's entirely feasible. However, if you're considering working these hours yourself, it would require substantial effort and energy. An alternative could be to divide the hours - opening from 6am to 11am and then again from 3 or 4pm onwards.
Profit
Both coffee and liquor have high markups, translating to substantial profit margins. To illustrate, consider a 750ml bottle of vodka, which yields 16 shots or cocktails. Without delving too much into the numbers, let's assume a bottle of vodka costs $20 and each shot is sold for $5. This means each bottle could potentially earn you $80 in gross revenue. Subtracting the cost of the bottle, your net profit would be $40, effectively doubling your investment.
Your idea certainly holds promise, William. Best of luck!
Melissa Temen
Timing
The two ideas operate at peak volumes at different times of the day. A coffee shop, for instance, sees the most customers between 6am and 11am, while a bar is busiest from 5pm to 11pm. That's quite a long day. If you plan to hire a team to cover these hours, it's entirely feasible. However, if you're considering working these hours yourself, it would require substantial effort and energy. An alternative could be to divide the hours - opening from 6am to 11am and then again from 3 or 4pm onwards.
Profit
Both coffee and liquor have high markups, translating to substantial profit margins. To illustrate, consider a 750ml bottle of vodka, which yields 16 shots or cocktails. Without delving too much into the numbers, let's assume a bottle of vodka costs $20 and each shot is sold for $5. This means each bottle could potentially earn you $80 in gross revenue. Subtracting the cost of the bottle, your net profit would be $40, effectively doubling your investment.
Your idea certainly holds promise, William. Best of luck!
Melissa Temen
Amit Mittal
Officer at Citibank
96
Answers
Pune, Maharashtra, India
Updated
Amit’s Answer
Hi William,
Running a coffee shop by day and a bar by night can be a great idea! This dual concept has been successfully implemented in several places. Here are some benefits and considerations:
Benefits:
Maximize Use of Space: You can make the most of your location by serving customers throughout the day and night.
Diversify Revenue Streams: By offering different products at different times, you can attract a wider range of customers.
Create a Unique Experience: The transformation from a coffee shop to a bar can provide a unique experience that sets your business apart.
Considerations:
Logistics: You’ll need to plan for the transition between the coffee shop and the bar each day.
Licensing: Make sure you have the necessary licenses to sell both coffee and alcohol.
Marketing: You’ll need to effectively communicate your dual concept to potential customers.
Remember, success in this venture, like any other, will depend on factors like your location, target market, quality of your products, and customer service. It would be beneficial to create a detailed business plan and perhaps consult with a business advisor or someone who has experience in this area. Good luck! 😊
Running a coffee shop by day and a bar by night can be a great idea! This dual concept has been successfully implemented in several places. Here are some benefits and considerations:
Benefits:
Maximize Use of Space: You can make the most of your location by serving customers throughout the day and night.
Diversify Revenue Streams: By offering different products at different times, you can attract a wider range of customers.
Create a Unique Experience: The transformation from a coffee shop to a bar can provide a unique experience that sets your business apart.
Considerations:
Logistics: You’ll need to plan for the transition between the coffee shop and the bar each day.
Licensing: Make sure you have the necessary licenses to sell both coffee and alcohol.
Marketing: You’ll need to effectively communicate your dual concept to potential customers.
Remember, success in this venture, like any other, will depend on factors like your location, target market, quality of your products, and customer service. It would be beneficial to create a detailed business plan and perhaps consult with a business advisor or someone who has experience in this area. Good luck! 😊