What is this situation called!!!
Two weeks back I had a discussion with my CFO Mr. Bala and we decided to rework on our Coffee Shop initiative!!!
Like we anticipated there were lots of hiccups on reworking on big Coffee Shop. It involved many challenges like;
- Finding Coffee/Snack Menu
- Finding a Shop
- Working on Interiors
- Working ways options to need capital needs!!
- Recruiting staff
Then with lot of delebration we have decided to go for a franchise for a small coffee shop kiosk.
By doing this we thought;
- We will have a quick start!!
- Reduce on Capital Cost!!
- Can meet our requiredCapital expanses through internal sources!!
- Franchiser takes care of supply chain and stafftraining!!
With that thought we immediately arranged a meeting with a franchiser and made an agreement him, we fixed a place and as always it was the bank which was playing spoilsport to fund us in spite of holding an FD!!!
Bank offered us 80% of our FD as loan and we asked for 100% as we have a working relationship with the bank for a long time and also we have;
- Fixed Deposit
- Current Account which has no interest!!
- A 60+ salary account
In spite of threatening the bank that we have to look for another bank they stretched the limit to 90% of FD. But we agreed for this ask the money was sufficient to start!!
When we thought we have set everything is place and we were good to start. The place we finalised couldn’t be fixed as the person incharge backtracked for some reasons.
Now we are aggressively looking for place!! It is a Coffee Shop Kiosk and we need 10 * 10 sq ft space in some prime locality or commercial place which can get us lot of footfalls!!
We are looking for a place in following locations.. Kindly pass a message if you have any reference;
- Avichi School
- Butt Road
Thanks in advance for sharing leads!!
Originally published at anandnataraj.com on January 26, 2016.