I have $30,000 dollars and I would like to open a coffee/knitting shop. Is that enough money?
How much money would it cost to open a business?
$50,000 would be better but for that type of business you might be able to do it if the overhead isn't too high. The problem with opening new businesses is that most of them don't make any money at all the first year and you have to be able to survive that, If you can't you are probably undercapitalized.
Reply:WHY do you want to open that kind of business? On a whim? (then say goodbye to $30k)
Reply:A small place with low rent. It will be at least 6 months before people start coming in enough to make anything.
Reply:Probably not where I live. You need to first check how much the shop will cost to rent where you plan to be. You need enough rent money and supplies to get through the first 6 months to a year. Do you need employees as well as rent?
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