Topic: Should I do this? How? - page 2. (Read 487 times)

I don't quite understand your game plan.  You want $1 million to create tokens for a cryptocurrency that you will burn, as you don't want to create your own currency, but you want your cafe to accept this new cryptocurrency?

I also found this.  https://themerkle.com/popular-boston-based-coffee-chain-and-wholesaler-accepts-bitcoin/  So you already have coffee shops in Boston that accept cryptocurrency.

Heya, thanks for your reply.

1) Boston is an expensive place, absolutely. However, the expense is shown on both sides. A lease for said cafe would run between 5k-15k per month, depending on locale - a tremendous expense for any operator especially compared to other cities in the US. The other side of course, a simple sandwich one may get for $5 in a small town, can cost you $10 or more here. The cost of living balances out. 250k is a rough estimate for 1 year of operating expenses, plus development, equipment expenses, etc. It really depends on the locale, of course. There are some interesting opportunities in the area, as some communities are seeing continued growth.

2) Based on my involved experience working in cafes in the Boston area, I would expect yearly revenues of $750,000 to $1.5 million per store.

3) Pending the menu decision, of which one variation of the business plan provides much higher margin profits - total monthly profits would start at about $7,500/mo or $90,000-$150,000 a year. Pending.

With an initial capital of $1 million, you can safely double those numbers as 2 or 3 cafes is do-able. At that point, a proven record of success would likely attract larger investors and dozens of stores could be opened - of course, I don't want to get too far ahead of myself here. But.. the chances of that are very likely.

Also consider the incredible potential in accepting CRYPTO as payments - and with the partnership of a fund-manager. Proper conversion / selling / holding of said assets into fiat could very well profit MORE than the actual cafe itself.

4) I ask myself why people invest in most ICO's these days - many of them have no product, and even their intended product has a HIGH chance of failure. Cafe growth in the U.S. is basically a proven fact, and in a city such as Boston - you'd be hard pressed to find a cafe where every table isn't completely filled.

The allure of this technology is starting to hit the mainstream, especially in this city - I hear people discussing crypto in private conversations on a daily basis.

Ask yourself, if you were visiting Boston - how likely would you be to seek out a crypto-based cafe? My guess is very likely..

I wish you were interested in my idea =)

It's a simple one, to the point, a very basic merging of old-world & new-world.

As far as incentivizing investment - that's a big reason for this post and discussion. How would YOU proceed?

Then I have a few questions (not because I'm interested in your idea, but because I also tend to see the BIG picture).

1. Boston is an expensive city. Do you really think you can buy a place and build a Cafe for $250k?
2. How much do you think is the turnover for such a Cafe?
3. What do you think would be the monthly/yearly profit from such business?

.. and the most important question:

4. Why people should invest in such venture?

A good business is considered one, which could make ROI in 3-5 years on average, but "investors" in digital currencies are not famous with being patient.

This is a personal dialogue.

I'm a laboring class man.

Come from a troubled youth, but have strived and forced myself to grow and learn. I work hard. I put myself through college, but dropped out to start my 2nd business.

So far, I've started 4 businesses, 2 failed from bad execution of me/partners, one incredibly successful but I stopped because legality was a concern.. and one mildly successful before I sold it (I felt forced, because of incoming government regulations and lack of capital to satisfy those regulations.) I admit now, I should have been more ambitious to seek outside investing capital, but the locale of which the business was located - opportunities were slim. Still, it may be considered another failure on my end.

I've learned a lot in the process. Lot's of thought has gone into why they failed, and how that could have been overcame. I'm a creative type, and have vast experience in development, design, legal requirements, promotion, and delegation, etc, etc. Everything required to take a business from idea, to profit. I have a knack for seeing the BIG picture, the macro view, and understanding how minute variables effect each other - the butterfly effect in sense, everything is connected - from a name to logo symbolism to product and promotion. Business is an art.. and I'm also an artist.

I'm 30 now, but have been involved with technology for almost 20 years. My first job at the age of 15 was that of a website / graphics designer - the pay was great - but I quickly learned something about myself, I ENJOY computers and did not want to turn it into a CAREER. They say, once you start doing something for money (and survival) the fun is stripped from it. Instead, I've used my tech skills as an asset and I've utilized them in my previous business endeavors - and also my hobbies (ie, music, political activism..)

Still, Something massive is coming with the blockchain technology..

So, I've done a great many things. I have life experience beyond anyone I personally know, and my work ethic is reputable. I have over a decade of experience in the sales and service industries, and I feel that on some level - this is what I am here for now, in this life, to serve - and to create and contribute to society through my service.

The problem is, the pay is not great. Even while in management there isn't much capital for one to really gain..

for a dream. A simple dream.

I'd like to own my own coffee cafe.

I currently reside in Boston, and there is something special about the modern coffee house. For those un-aware, it has a spectacular future in regards to the current trend of people working from their computer. Most of the time, working is more productive if you suit up and LEAVE the home. The cafe is one of the fastest growing modern industries, comparable to that of the solar industry.

Something also, with coffee - the meme says "but first, coffee".. when really, it's about PEOPLE. People first. Single origin coffee, specialty coffee, is grown mostly by impoverished farmers all over the world. With the support of fair trade, it's really an amazing contribution to these people.

THEREFOR, I am here now. Strongly motivated and invested mentally and with what little capital I personally have.

I'd like to start a crypto-based cafe in Boston. I think the time is perfect, the allure and interest in a physical business focused solely on CRYPTO as payment (we would take cash/card, also required to help setup newcomers) could invite people from all over the world - especially in a city such as Boston.

I have the talents required, and I know the proper people that would work directly for me, or be an advisor in the development of the Cafe.

A business plan for said cafe is already almost complete, with multiple variations depending on locale and also - community opinion.

I need funding.

Should I start an ICO of sorts? The idea is to raise about 1 million dollars. It requires roughly $250,000 to start a single cafe. I'd like additional funding for strategic management of crypto revenue, a security of sorts - I have a plan on HOLDING paid crypto-assets, and off sourcing the management of them to a qualified person/team to hodl/profit as the market is best. I'd also like funding for a 2nd cafe opening only a few months after the first to really demonstrate prominence and fire in the space of crypto as money.

My idea, which I am seeking opinions - is to attribute a very respectable redemption for the ICO tokens to be used in the cafe, IE coffee and a meal (priced maybe $10-15 worth for a ICO price of about $1). Tokens would then be burned after redeemed in store. I am not trying to create a new currency, or even a lasting investment - but something that would retain it's value - and overall, would

help PROMOTE crypto currency to the average person.

Would also consider creating a token as a profit-share vehicle - holders of token would be paid a dividend, but - I am in the US so this may not be feasible at this time.

The cafe staff would help teach the average person, and really be amazing to educate people on using crypto in an everyday setting.

They say, once people can buy a cup of cofffee with crypto - easily, is when crypto will truly be considered to be money. We are at that gateway..

Opinions on how to proceed?

tldr

I want to start a physical coffee house that primarily accepts CRYPTO payments in Boston. Would an ICO be a good venue for capital?