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    5 Replies Latest reply on Dec 11, 2011 1:38 PM by Moderator Jim

    Lounge Baltimore

    TCEP21208 Wayfarer

      I would like to open an upscale lounge in West Baltimore County, the location is ripe as there are none congregated in that particular area. In today's economy does this seem plausible?

        • Re: Lounge Baltimore
          LUCKIEST Guide

          Tell us more, What is your background??

          I think that in todays economy, now is the time to plan for the good times that are coming.

          Do you have a location YET?? How much do you plan on investing??

          How long will it take before the lounge opens??

          Do you have a business plan??

           

          Good luck, LUCKIEST

          1 of 1 people found this helpful
            • Re: Lounge Baltimore
              TCEP21208 Wayfarer

              Thank you for your input. My background is in Human Resource Development and this business venture has been a long standing dream of mine. I am not proactively putting the pieces of the puzzle together so that I can make this dream a very soon to be reality. I am agreement with planning for the good times that are definitely coming down the pike.

               

              I have my eye on few locations, one moreso than the others. I am in the process of finalizing my business plan, and have some investors.

               

              What is your background and location?

            • Re: Lounge Baltimore
              koln123 Tracker

              It is certainly plausible, though whether it will be a good idea in this scenario will depend on quite a few things, such as the affluence of the area, they type of demographics.   How have other businesses of all types done in the immediate are in the last 2 years?    Do you have the start up capital and credit?    How difficult will be be and how long will it take to get a liquor license in that area?   

               

              Getting financing will be difficult or not doable for the first several months at least.   This should be factored into the decision.    Have other businesses of this type recently existed in the area and failed?  If so, why?   Can you ask this question of other business owners in the immediate vicinity?   I'm sure some will be happy to talk to you about it for a brief amount of time, but the info can be invaluable.      What is the foot traffice in the location desired over the course of days and weeks?    Good luck

              www.smallbusinessloansdepot.com

              1 of 1 people found this helpful
                • Re: Lounge Baltimore
                  TCEP21208 Wayfarer

                  I believe that the demographics are ripe for the location of the place I have my eye on. The business in the immediate area have sustainability, been up and operating over 10+ years. The place I have my eye on, is zoned for and previously had a liquor license which is part of the reason I am eyeing this particular location in hopes that it makes acquiring the license a little less hectic. Very interested investors and credit.

                   

                  Other businesses of this type have and still exist in this immediate area but none offer the unique set-up I plan to offer. I am in the process of interviewing/talking to current owners in the area as they allow the time to meet with me. The day time customer base in that area is 50,000 and that's due to employees, and several small surrounding business parks as well.

                   

                  Thanks for the feedback and the well wishes.

                • Re: Lounge Baltimore
                  Moderator Jim Ranger

                  A lot of great answers so far. I hope you've found the advice you're looking for!

                   

                  Jim