Quote:
Originally Posted by Runscott
The goal is to get a place where, even if I make no profit on either memorabilia or coffee, the mortgage is still reasonable as a living space. It probably would be a good place to hang out and talk sports, but the area I'm looking at won't have many collectors - it will be locals drinking coffee and tourists who hopefully have too much money in their pockets.
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I think you have a great idea. The only way to make it in retail is minimize your overhead (as you are amortizing it well) and also have other streams of revenue. I am a huge advocate of this approach as it limits your exposure somewhat, to any one thing. I just got out of 2 retail restaurants after 9 yrs and don't think I would want to deal with a brick and mortar anything unless it was on my conditions, and it would have to cost virtually nothing (somehow)...but as you are doing. You have very little downside.