I Bought a Chain of Coffee Shops - Week In The Life of a Business Owner

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James Sinclair

James Sinclair

Күн бұрын

Пікірлер: 238
@stuartbuxton4316
@stuartbuxton4316 Жыл бұрын
Mate, it's so refreshing that you ask the staff, "what's wrong"?? So many managers/ directors think they know more than the staff on the floor. Good work!
@markanthonyharrison5153
@markanthonyharrison5153 8 ай бұрын
Brilliant advice. I rented a shop near to where I live and not only did I pay a rent deposit, I also had to sign up to a dilapidation clause which meant after I exercised my break clause after 3 years (but 9 months of me paying no rent as I had cancer and had to close the business), I had to repaint the whole shop and put new flooring in. I was so naive. However, even worse was the personal guarantee I had to give…it nearly wiped me out.
@Tabac-en-paris
@Tabac-en-paris Жыл бұрын
First: as usual nobody comes close to how informative and instructional James is with this content - real practical detail on the pitfalls of dealing with business leases. So many people end up in trouble with these especially as new businesses. Secondly: yeah the location is too quiet - you can make and improve as much as you like but if there is no footfall it simply won’t work. Agree that the destination store in central London could be the strategy, although the maths will look frightening!
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
Thanks for your lovely words! Thanks for watching
@MrJeffHead
@MrJeffHead 8 күн бұрын
Do you still own this or have you disposed of it?​@@JamesSinclairEntrepreneur
@chrisdavies6633
@chrisdavies6633 Жыл бұрын
It would be a struggle to turn that shop round Not enough footfall Costa left for one reason This channel is fantastic and what a inspiration you are Your like a machine just keep going and going with new ventures I wish I had half your motivation 👍
@Linshark
@Linshark Жыл бұрын
You might need some more data about activity there, but yes it looked quiet. Maybe try to reduce the rent?
@CraigsAllotment
@CraigsAllotment Жыл бұрын
Hi, just to say a quick thanks for your content! 3 years ago I set up a commercial floor cleaning business as a so called side hustle. Fast forward a couple of years and my job became the side hustle and at the end of September I'm actually about to meet my lifelong ambition and sack my boss!!! I intend on putting out some content with my niche being about the diary of a small business owner. Your content has been very inspiring since I discovered it a year or so ago. Anyway, have a great week and thanks again.
@kafakir
@kafakir Жыл бұрын
thanks James for sharing your business activities and how you deal with workloads etc etc No one else does what you do, transparent, helping us understand and gain experience
@dylankirton1150
@dylankirton1150 Жыл бұрын
I've revived a pizzeria, started a burger take-out and I'm busy with a Cafe start-up at the moment - what you've said is so relatable! I'd take the store but try to beat them down on the rental a little, you can leverage a site like that over the long term.
@CinematographyLischka
@CinematographyLischka Жыл бұрын
£43,000 appears rather steep to me. Prioritising the asking price so highly suggests that the landlord may have concerns about its true value. Perhaps it would be more prudent to opt for a smaller store in a more favourable location.
@messagesfromlife
@messagesfromlife Жыл бұрын
Best and most authentic entrepreneur - i slways wished for a channel like this. So glad I found you. ps. I sent you an e-mail regarding meals for day nurseries. I think that would fold nicely into your empire
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
Where did you send it?
@yizchaklazarus8637
@yizchaklazarus8637 Жыл бұрын
@@JamesSinclairEntrepreneur I own a wholesale drinks company I stock brands such as coca cola would you be interested in a price list
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
@@yizchaklazarus8637 please send to our buying manager paul.rafferty@rossiicecream.co.Uk
@messagesfromlife
@messagesfromlife Жыл бұрын
@@JamesSinclairEntrepreneur here is my message again. I hope this is of interest to you Hi James. (I know it is probably not you reading these messages. Hi kind person who is reading this. If this is of any interest to James , please be so kind and forward it to him) My name is Mathias. I am from Vienna, Austria. Here is my question: Do you cook meals for your day nurseries? We run a business catering to day nurseries and schools here in Austria. It ticks all the boxes for you 1. folds in your current business 2. you get long-term customers that pay you on a monthly basis We cook around 7000 meals a day, a portion costs around €4,20 so that is nearly 6000 000 in revenue every year (I am assuming 20 days a month, 10 months a year) and the beautiful part is that my customers have an average life span of 5+ years. You are close to a major metropolitan area. This would be a massive business opportunity for you. You would do double or triple my numbers. I am more than happy to help if you need to know more about the business. I have 10+ years experience and I am happy to help.. Greetings from Austria, Mathias
@OnlyNetEdits
@OnlyNetEdits 22 күн бұрын
I agreed until the end, why does someone worth $40 million need to do a webinar
@CommissionerLofi
@CommissionerLofi Жыл бұрын
Dang you'll have so many rules in the UK that slow business down.
@LukeWilsonACA
@LukeWilsonACA Жыл бұрын
Just came across your channel. Great insight into how you run an actual business. It is so important to fully understand the lease. Think you done a great job in explaining it. Hope the coffee shops are a success.
@Ben_conduit
@Ben_conduit Жыл бұрын
Definitely not a good shop to rent out, no foot fall and no parking, also very expensive. That would be a no if it was me. Great video as always mate, keep it up man!! 🔥🔥
@flabbybum9562
@flabbybum9562 Жыл бұрын
I would hesitate before taking it on James. It looked quiet as an area. Maybe scope it out to see if it picks up at different times? You could have a great little eatery, but if the traffic isn't there, you're sailing against the wind.
@thomasgibbons1198
@thomasgibbons1198 Жыл бұрын
I think rebranding to Rossi and pushing the coffee would be good. I’m a massive coffee lover and haven’t been into the Southend store yet. Will need to give it a try after see this!
@L3Harris
@L3Harris Жыл бұрын
The strategy of actually going into the shops and asking the people there why it's not performing well is mind-blowingly overlooked by most businesses. Great move. Amazing how you instantly get right down to the crux of the issues if you just ask the people that ought to be familiar with them?? 😂 Others need to learn here!
@JayTG123
@JayTG123 Жыл бұрын
Another great video James ! Gut instinct kicked in as soon as you were stood outside the train station looking over at the old Costa… big no no. Too much traffic, not enough footfall.
@FigaroHey
@FigaroHey Жыл бұрын
You were standing, not you were stood. Bad grammar marks you down as a probable failure.
@nickjerrat
@nickjerrat Жыл бұрын
This was great content, please keep the walk and talk and site visits coming
@robbit2
@robbit2 Жыл бұрын
I was impressed how u stopped video to explain legal jargon. Im hooked now what else i can learn from you😅🎉
@nigelharris1623
@nigelharris1623 Жыл бұрын
Love the show, learn a lot. Have you considered differential pricing? I’m thinking 75% off for folk who live up north - otherwise it’s just workshops for southerners....
@thewrongaccount608
@thewrongaccount608 9 күн бұрын
I know little about business but watching James is like having a business masterclass.
@matty506
@matty506 Жыл бұрын
Really enjoyed this episode, very informative.
@simong7735
@simong7735 Жыл бұрын
James in the shop where you were wearing your pink jacket and sitting down the large looking chalkboards behind you look ripe for menus in a big white type marker…chalk too messy but acts as advertising for down below as they could see large MENU written at top! My 2p 🤗🙂
@peaclock1439
@peaclock1439 Жыл бұрын
If Costa couldn’t make it work probably not a good sign
@Bari_Khan_CEng_CMarEng
@Bari_Khan_CEng_CMarEng Жыл бұрын
It was a franchise...
@marcevans1284
@marcevans1284 Жыл бұрын
The strength James has is the other complimentary businesses in the portfolio. This reduces pressure on a single business model.
@Bari_Khan_CEng_CMarEng
@Bari_Khan_CEng_CMarEng Жыл бұрын
@@marcevans1284 yes for sure, vertical and horizontal integration
@juha7830
@juha7830 Жыл бұрын
Agree. sad looking place with astronomical lease price. Thank you James for this ATV idea, rhat was a gold nugget.. I will start using it
@chazprouk
@chazprouk 2 күн бұрын
Costa don’t have the time to work out what the problems are. They cut, run and open another up elsewhere
@steveharman8907
@steveharman8907 Жыл бұрын
Great changes to come James..will be in Rossi westcliff at the weekend...brand loyalty is we have not ever eaten in any other place along that front.!
@yugioh12fan
@yugioh12fan 25 күн бұрын
I do the same management thing with my team, works wonders by bypassing the managers. Any managers who have their ego hurt, find their time with me gets cut short. Also for the property where Costa used to be, it could just be the way things are edited, but it sounds like a terrible deal coming from the agent herself, she doesn't even sound convinced that it's a reasonable asking price.
@philbridalfactoryoutlet6513
@philbridalfactoryoutlet6513 Жыл бұрын
Costa moving out says it all!!
@MRW515
@MRW515 Жыл бұрын
I would choose a savory sandwich over cake to go with my coffee 👍
@RichardArblaster
@RichardArblaster Жыл бұрын
13:48 as you said when you were standing outside of the station, not enough footfall and possibly the franschisee saw a decline over the years and thought it wasn't worth renewing the lease. Also the landlord could've hiked up the rent.
@clivejefferies
@clivejefferies Жыл бұрын
Thanks for sharing your work. Fascinating to watch.
@creightonjason
@creightonjason Жыл бұрын
Another great video, very open with ideas and plans. Love it
@Holdeenio
@Holdeenio Жыл бұрын
I've been waiting for this video, thanks for sharing James. I recall seeing a video with Matt some time ago and have visited their Chelmsford store before - a great location.
@duncanikiara9089
@duncanikiara9089 Жыл бұрын
Stategic site is the most important part of business, if the london street is not busy, you cannot change the flow.. coffee 101☕ great infos✔️
@bossdeman
@bossdeman Жыл бұрын
That was sound genuine advise James ! Thanks !!
@Mansmatters
@Mansmatters Жыл бұрын
Excellent video. Business strategy made simple.
@waywardmedia4491
@waywardmedia4491 Жыл бұрын
I personally wouldn’t be renting that particular shop, not enough footfall, especially considering it’s in London, I think you have a good thing going on with the Primark locations once the ATV rate is increased, and would try get into a few more stores, let them do the hard work getting the people into the stores, and you just provide the refreshments. Definitely get rid of the black, I don’t think pastries look too trendy, people want something a bit different.
@hawthornedan
@hawthornedan Жыл бұрын
I really do hope and I’m confident you can turn around C&C
@steveharman8907
@steveharman8907 Жыл бұрын
Not getting a vote from me James...too quiet on footfall...see you in WEstcliff soon....brilliant to learn from you sir.
@TheChodax
@TheChodax Жыл бұрын
Some very smart moves there Mr Sinclair regarding dilapidations.
@jordanna9517
@jordanna9517 Жыл бұрын
Just stumbled across this channel, brilliant informative channel!
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
Welcome aboard!
@DJWESG1
@DJWESG1 Жыл бұрын
Diligent, teaching ppl some really good info.
@Mrbusy498
@Mrbusy498 Жыл бұрын
Again another great video, never stop.
@ashleyjenny186
@ashleyjenny186 Жыл бұрын
Investing in alternate income streams should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
@maxiecharles2842
@maxiecharles2842 Жыл бұрын
If you don't find a means of multiplying your money, you will wake up one day and realize that the money you thought you had, had been exhausted. Investment is a ladder to climb the financial wall.
@ashleyjenny186
@ashleyjenny186 Жыл бұрын
Cryptocurrency investment, but you will need a professional guide on that.
@ashleyjenny186
@ashleyjenny186 Жыл бұрын
Facebook 👇
@ashleyjenny186
@ashleyjenny186 Жыл бұрын
Evelyn C. Sanders
@ashleyjenny186
@ashleyjenny186 Жыл бұрын
Telgrm ✍️
@hellalmiah728
@hellalmiah728 Жыл бұрын
We need a follow up!
@lachlanmcneill
@lachlanmcneill Жыл бұрын
Great insight into real business. I think you've revitalized my interest in the cut and thrust. Seriously, appreciate your detail, table chat format and honesty. Like others, my spidey sense is a definite no for the Costa site. Narrow footpaths also tend to make people want to walk past quickly.
@Shauntipson
@Shauntipson Жыл бұрын
Question the sites in Primark are they long term agreements. What if they decided to end the contract early.
@dsqrd2
@dsqrd2 Жыл бұрын
There’s another station entrance on Station Terrace, Kensal Rise. Quieter street traffic and a number of cafes.
@spacemanwho
@spacemanwho Жыл бұрын
I got caught out on the dilapidation clause when I opened my first office after using a serviced office for a year. Man that clause really screws you over. After spending insane amount of money improving the building...
@danielwillow1979
@danielwillow1979 Жыл бұрын
You need someone walking around collecting rubbish in the farm. Behind you was a water bottle on the floor and some rubbish. It may have only been there a bit but someone just doing the rounds makes a difference. I wouldn’t go after that shop. Looked quiet but might have been the wrong time of day. I used to count footfall for Sayers Bakers when I was in uni. 👍
@FigaroHey
@FigaroHey Жыл бұрын
Floors are manmade and inside buildings. The ground is outside and part of nature. Why can't the English learn to speak?
@christodd7089
@christodd7089 Жыл бұрын
Love the videos. Keep them coming please! Wouldn't average spend be revenue divided by transactions?
@mrnobody9227
@mrnobody9227 Жыл бұрын
Your are right. The high street there is far too quiet. Leave it.
@jasonclearwater3303
@jasonclearwater3303 Жыл бұрын
Hello, James. I started watching your videos a few months ago after finding you from Mark Tilbury and I'm really enjoying them so far. I read that you left school at 15, then started your first business at that time. You also seem to know a great deal about accounting, finance, business law, and related subjects. Did you return to school to study or are you mostly (or even entirely) self-taught?
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
University of life for me. I’ve also read a lot of books and been to seminars over the years.
@darrencampbell638
@darrencampbell638 Жыл бұрын
Really enjoyed this one. Thank you for taking the time to make it. Very insightful. I wouldn't buy that costa spot.
@darkarts59
@darkarts59 17 күн бұрын
I like that jacket you're wearing.
@chris6796
@chris6796 Жыл бұрын
I work in an office near Kensal Rise and use that tube station when I arrive to work - No, don't take the lease, that area is very quiet.
@hollywoodactress
@hollywoodactress Жыл бұрын
What what I learnt from your business videos. I would say don’t take on that shop. Footfall looks low, too far away from where you ideally want to be located. Lease only too, see if you can buy a shop instead. Focus on cookies and cones first and keep looking for that shop and location. Btw it would be good to hear and see rough cost of rent in and around Covent Garden and how many customer that would translate to be profitable. I expect buying in and close to convent garden is non existent as it is a prime location.
@chuckmaddison2924
@chuckmaddison2924 3 ай бұрын
Years ago, I worked for a company and they changed the name. The original name gave customers the impression we only did one thing. What really made the company take off was when we franchised.
@john-francis-robinson
@john-francis-robinson Жыл бұрын
Videos are getting better James. BTW, did I hear you say you print your own signs? Agree, as does everyone else it seems, that there's insufficient footfall around that shop. Given the Costa franchise was there for 11 years something has changed, maybe post Covid working from home?
@LaurenD530
@LaurenD530 Жыл бұрын
Great video. Need the shop on the side of the train station to have a chance of making it work IMO
@Cablesmith
@Cablesmith Жыл бұрын
Here’s my average joe opinion on the coffee shops. The black theme looks higher class and in turn… expensive, so I would walk right past without even looking further than that.
@ThorMotorWerks
@ThorMotorWerks Жыл бұрын
There’s a reason Costa use magnolia and a warm dark red.
@MeiinUK
@MeiinUK Жыл бұрын
@@ThorMotorWerks: Everybody goes to Pret's.... Even Gregg's is now popular too. Light and airy. As Gregg's expand their prices.. people will stop going. And find a new competitor... that is how it goes. But if you have something for the different price point and budgets, people will always come back again and again... That is just the nature of business.
@Mike_N_A_Dunn
@Mike_N_A_Dunn Жыл бұрын
Been waiting for this after you mentioned it.
@topgazza
@topgazza Жыл бұрын
Impressive approach I can see why you’re a success One plead is to NOT PLAY MUSIC. It’s my pet hate. Nobody listens and it’s often too loud and irritating. Create a light, comfortable atmosphere with decorations and quality product and I’d be in every day But in terms of that ex Costa shop then for me it’s a no. The franchise closed for a reason and I’d wager, if I was a betting man, that it was a lack of trade
@thegallery
@thegallery 27 күн бұрын
fascinating. Sometimes the youtubes offer gold!
@fmyouthdev
@fmyouthdev Жыл бұрын
Good luck James 👍
@EmmaWharrie
@EmmaWharrie Жыл бұрын
Absolutely love cookies and cones and glad to here you have taken this on! Would you be incorporating some of the flavours and sorbets into the Rossi brand as would hate to loose some of the fantastic flavours and cakes! our local is Wickford C&C and always super busy especially with services like deliveroo
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
Yep. It’s already fully integrated. All cookies baked and ice cream flavours have been put into Rossi range now.
@nicecarsdarlington
@nicecarsdarlington Жыл бұрын
I really liked golf course music haha
@endi4654
@endi4654 Жыл бұрын
I personally would do a market research to see if people are spending in this economic climate. If the popular cafes are getting half the patrons there used to be, clearly it's a red flag. Problem with cafe, it's highly reliant on footfall traffic. Platform for food delivery apps don't fare well for cafe. Novelty of cafe is to sit down and enjoy the ambience
@boywonder6659
@boywonder6659 Ай бұрын
9,000,000 chimney pots. The chimney pot reference was mentioned to me many years ago.
@dr.kawasaki7380
@dr.kawasaki7380 Жыл бұрын
⭐ *9:55** Literally her job to know basic shit like that(Business rates)* . MAN people are coasting! I'm guessing that was the agent?
@TAS_CNX
@TAS_CNX Жыл бұрын
Exactly what I thought! You’d expect agents to know that kind of information when showing a property
@bjmaston
@bjmaston 7 ай бұрын
You mean "woman".
@richardlancaster9078
@richardlancaster9078 18 күн бұрын
Add very good quality Milkshakes!
@Boostly
@Boostly Жыл бұрын
I love these videos
@madgebishop5409
@madgebishop5409 Жыл бұрын
another cracking video!
@PowerStation550
@PowerStation550 Жыл бұрын
Could you please do a video on how to create a successful business system or various business systems
@richardwomersley9761
@richardwomersley9761 Жыл бұрын
What app do you use to track those KPI's so well?
@e4unow421
@e4unow421 Ай бұрын
His brain. I joke, I'd love to know too.
@Hashterix
@Hashterix Жыл бұрын
Nice surprise seeing you in Kensal Rise! The girl who I knew to buy a Costa every day must have stopped, she was probably single handedly keeping the place afloat 😂 By the way you want to check out the little cafes on College Road in that area for sake of business model. You're not after high street walk-ins but you're after the yummy mummies who want a boujie, somewhat floral and earthy environment to sit and chat with their friends for hours. They're high value customers who'll pay top dollar for the high end stuff with a side of sourdough avocado toast, but it's probably not the best shop for it given there are quieter streets around which can also provide the outside seating that shop can't.
@londonEnglishVideos
@londonEnglishVideos Жыл бұрын
Good points there. Chamberlayne Road does get busy, but probably around school start/finish times, as you said the yummy mummy crowd. There are places on that street that are always busy eg the Portuguese place, and Gails have moved in, but you need the outdoor seating.
@yizchaklazarus8637
@yizchaklazarus8637 Жыл бұрын
Hi James i own a wholesale company for food and drink is there some where I can send a price list to
@milerale5286
@milerale5286 Ай бұрын
Cafe at Reading Primark was only open for short time before it went bust
@michaelairley2015
@michaelairley2015 Жыл бұрын
How about "Too good to go" app. Using the left over good fresh food to make a kind of "meal deal" Which people buy through the app and collect in the last 20 minutes you're open. Less waste and more revenue in. You'll also have people collecting the food in brown paper bags with Rossi on the side. Walking advertisements.
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
We do that already.
@michaelairley2015
@michaelairley2015 Жыл бұрын
@@JamesSinclairEntrepreneur Haha! Of course you do. Forgot who I was talking to. Just got into your videos the last 2 weeks. I'm addicted. Your energy is amazing. So infectious. I was wondering if you could make a video on how much it costs to employ someone, "fire" or replace employees. Also what you do to keep employees happy and wanting to stay. I'm in Norway working for a great, small but international company called Cobuilder. You should check us out. People have been working here for years. As the environment and freedom is great.
@db1019
@db1019 Жыл бұрын
Is Primark the right store to have a nice coffee hub in? Traditionally Primark attracts a people who want to spend a little, they look for t-shirts for £3 so would they really be the target audience for £4 coffees and £4 cakes? You are the expert but the Primark struck me as a strange choice
@williebobs3830
@williebobs3830 Жыл бұрын
There's a coffee shop in a Primark In Manchester. Right at the back of the store. It's permanantly busy.
@gibbson130
@gibbson130 Жыл бұрын
Exactly what I was thinking. I don't think your average Primark shopper is into £4 coffees. Still worth having a coffee machine though and in some areas Primark is literally the only reason why some people go into a shopping area so it's an excellent location. The original cookies and cones idea is still good I reckon just probably needs to be ran correctly and get more Greggs type products in. Actually aren't there Greggs already in some Primarks? Get some cheap pastries in and you're laughing.
@FigaroHey
@FigaroHey Жыл бұрын
​@@gibbson130Needs to be run, not needs to be ran. Why can't the English learn to speak English?
@londonEnglishVideos
@londonEnglishVideos Жыл бұрын
Possibly the more upmarket retail stores either don't want distractions, or they run their own cafe operation eg M&S or Sainsburys. Could there be a shoe/trainer shop that would benefit from a coffee hub?
@MeiinUK
@MeiinUK Жыл бұрын
@@williebobs3830: Do you know how big the Primark in Manchester really is ? It has been there for years, and one of the largest in the North. I remember this one, as well as the large one in London. So yes... a Primark "ought" to be profitable. But as with anything, logic and theories.. and on paper sounds great.. it is the tiny details.. and the execution that matters the most, don't you think ? And to be frank.. under this current climate.. if people don't stay or hold on tight... Then they are just as destructive to the actual market themselves than anything, in all honesty. And I mean.. how many people are there in the UK any way ??? How many of us, have not worked in these kind of sectors at one point in our life time ??? Whether it is when we were students or when we were working or inbetween jobs etc... A lot of people keep saying that they are "investors" but frankly, they are just "robbing Jane to pay for Tim".. kind of scenario. And when you see wealthy individuals who rather build a new house, out of these businesses... Then... you kind of know that, "this is the end of the game". And the fact that these landlords refuses to budge on the rates... Says a lot, don't you think ? Everybody is holding on for that "big fish"... Well... When people are dying and leaving.. and working from home. It is the end of that tea dance. Nothing to it really.
@andybrown7575
@andybrown7575 Жыл бұрын
I'd go back when the school holidays have finished, is there schools nearby? Maybe the footfall would look better when kids are back at school
@SM_TheTraveller
@SM_TheTraveller Жыл бұрын
Great information
@mrpaul5726
@mrpaul5726 Жыл бұрын
Pass on the shop, to little footfall.
@MeiinUK
@MeiinUK Жыл бұрын
I like Italian Ice Creams.... and I love Italian food. I think that 1) you need to focus on keeping the original name. Dump the bakery part. Just call it Rossi's. Also.. I would definitely have a look at how an actual Italian cafe or Italian ice cream parlour works out. I think you will find that they are really nice.. and the flavours are so different as well ? I would also consider holding onto their gelato factory part. Cos frankly, there is a need for this in the UK, still. Light airy ice cream does sell. Again at the end of the day it is all down to execution and price point as well. Since we're supposed to be in a recession.. then surely, something to bridge the gap is a must here? Would also consider selling 1 litre tubs or 5 litre tubs towards actual social enterprises too. Or to even the food banks. And let the labels remain on it. People aren't behaving like they used to... and there is nothing to say that you shouldn't reraise back up that spending powers and to find the people too. And I also don't believe in actually that we don't have the spending powers. Breaking even.. or holding on to break even.. to uplift.. even a small gap.. is kind of what is necessary or needed mostly.
@flytronica
@flytronica Жыл бұрын
Feels like you’re someone who follows their gut, and if your gut is making you question it then I’d avoid. The lack of footfall there would definitely be a worry.
@SavvyMoneyShow
@SavvyMoneyShow Жыл бұрын
I would put the money towards an app and deliver the food/ cakes and coffee to your loyal customers have a reward scheme that gives you data which is new gold and possibly use just eat and deliveroo you have a good base cake business problem is customers maybe do a referral bonus on the reward scheme
@carlosr192
@carlosr192 Жыл бұрын
I learn a lot here...BUT the basics can fix any business. The basic is: 1 Big Brand...is expensive because it work. 2 More volume of sales...internet, marketing, partnerships etc. 3 Quality and good prices...it works because is difficult and the costumers know that. 4 Never sales in 0 profit. 5 Big places is a good...not too big. Not too luxury. 6 The next big thing...is good for a already big business man. Don't put all' in.
@face2much
@face2much Жыл бұрын
closing at 6 as an ice cream shop? parents take kids for ice cream BEFORE dinner in the UK? Serious question I'm from the US
@IverKnackerov
@IverKnackerov Жыл бұрын
It’s a concession …a store within a store. If main shop shuts, they have to
@face2much
@face2much Жыл бұрын
@@IverKnackerov O ok that makes sense then.
@NoNonsenseJohnson
@NoNonsenseJohnson Жыл бұрын
Would never take that shop, coffee shops are 90% Location Location Location. If you go London go Big, That dilapidation tip alone is worth this video being watched, absolute goldmine of info for commercial renting.
@24sumo
@24sumo Жыл бұрын
If you need any suspended ceiling tiles I’m your man. Lowest price you will find and more importantly. White coloured lol
@Cricklewoodcoffee
@Cricklewoodcoffee Жыл бұрын
Was this Costa in NW london?
@andy_xtr3861
@andy_xtr3861 Жыл бұрын
Look at the customers who shop in Primark, they're shopping there for a reason, probably dont have much money, and could buy a t-shirt for the price of a coffee. Needs to be reasonably priced to attract people.
@richard-haigh
@richard-haigh 4 ай бұрын
The agent should have just given you the guys. It amazes me how they never even know the basics such as the rateable value, electric connection size & broadband speeds! It wouldn't take much for them to spend 5 minutes to really try and properly sell the property to a serious prospective tenant! This is why your always better off by putting your own businesses in your own property.
@Cal900
@Cal900 Жыл бұрын
So it didn’t sell coffee before?
@philippedelemarle3076
@philippedelemarle3076 Жыл бұрын
Are you not running after several bunnies in the same time?. It s a grear idea to invest in a coffe shp chain, but the investment is huge .
@beedee8185
@beedee8185 Жыл бұрын
James we all love the Rossi ice cream, without a doubt. Some of the C&C ice creams and sorbets are amazing though! Would you absorb some of their recipes/flavours into the Rossi brand to keep them going?
@JamesSinclairEntrepreneur
@JamesSinclairEntrepreneur Жыл бұрын
That’s already happened! Go to the Rossi parlour and you’ll find all the new flavours from Cookies at your fingertips. Plus the cookies team now make all our cakes and bakes in our Rossi shops.
@jlc973
@jlc973 Жыл бұрын
​​​​@@JamesSinclairEntrepreneur Hello. On the London coffee shop, prices seem high but tough negotiations with the landlord was probably a good starting point. Agree with someone else that school children returning could provide greater footfall. What about marketing on bus stops or in the train station. A pop-up marquee giving out free samples might tempt customers into your main shop later on? Good you've purchased Cookies & Cones. It's never drawn me in despite their offering having a good reputation. My nearest are Southend & Rayleigh. (If that's still open?) Price point felt quite steep. Gluten, dairy-free and vegan options would be great as intolerances rule out normal cookies. 🫤 There's empty units in Rayleigh and Rochford if you consider expanding the concept elsewhere. Thurrock Thameside complex desperately needs a proper cafe. It appears that the theatre was saved though council librarians serving 🤮 instant coffee wasn't pleasurable while visting last year. I know the authority is bankrupt and badly run however. Finally, visit Muffin Break for market research. Their model has similarities to Cookies & Cones. (I know my comment was VERY long.) 😂🫤
@mohammedpatel3537
@mohammedpatel3537 Жыл бұрын
Not enough passing trade, is there no space inside the train station.
@nickedmondson1583
@nickedmondson1583 Ай бұрын
Great video as ever, (just seen this one, as i pop through some older content).... Matt just looked like didn't have a clue, and was just yeah yeah, no wonder he drove into administration, i wouldn't keep him on the team for two long, he isnt gonna help you at all. as an aside i wouldn't have leased that shop for 10yrs at £40/42,5k a year, (assuming it was a fixed term). have to say i do love your videos/content and delivery
@doveandlyre259
@doveandlyre259 Жыл бұрын
Black is the worst colour for this type of business. Not only does it look closed from a distance up close it just looks dark, dismal, morbid. You need bright happy colours adds excitement to the potential customer and invites them in. I like watching your videos as it explains everything in detail not superficial leaving questions. NO to taking the shop it is full of potential problems with a 1/2 million expense.
@DH-zp7bc
@DH-zp7bc Жыл бұрын
I like how you rinsed those agents. Property management is usually their sole job, but they are always hesitant and never have any figures to hand. Jokers. Why would you paint the interior of a cafe black? How morbid can you get. I agree, I think music ruins it. I get sick of this in these budget gyms.
@Professional_Youtube_Commenter
@Professional_Youtube_Commenter 10 ай бұрын
9:30 she heard you fine, she just repeated to question to give herself time to come up with an eexcuse.. the reason is the property wasn't profitable. too much rent and rates - no customers.
@paulfri1569
@paulfri1569 Жыл бұрын
Invest in Australia mate 🤠 its the future and we have endless opportunities here..
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