after operating at present location (Mineola, Long Island) for nearly 3-years, ongoing difficulties with our landlord (less than perfect lease, broken verbal assurances, LL unconcerned/unaware of comparable area rents, down economy, generally obstructive disposition), I've decided to exercise a "good guy" clause in the lease to allow us to break it.
I've identified a great location in a NY borough for less rent + generous terms + up to 6 months free rent + more traffic...
I still have confidence in the viability of this concept, previous landlord not withstanding, based on seeing essentially the same block of regular customers day in, day out....
kind words on yelp and consistent favorable press are also encouraging signs
(NY Times, among them
i do own outright just about every fixture, capital equipment, and conceivable smallware needed to run a coffee-cafe (including full shortorder kitchen w/ ventilation system + in-house baking) in addition to my own experience and dedicated core staff. the issue of financing this move is really the only hurdle we're faced with, which given the condition of the new property and the rent concessions, should not be more than the cost of the lease (1st/last/security) and for installing the equipment + fixtures into clean and ready space
My projections place the total amount for move/buildout/working capital at about 40-50k, of which i know i can cover at least 10%, however, I know jumping back into the water w/out adequate financing wouldn't prudent either
does anybody have any creative suggestions or ideas to help make this happen?
only alternative is to liquidate assets, which wouldn't bring me any closer nor net more than 20k at a used equipment auction :(