Timing, Budgeting and Being Realistic
Time flies when you're having fun, that's for sure. Since moving back to Philadelphia I have been getting settled, but also I've been reconnecting with family and friends and reengaging in my career at the full-time jobby job. This has left no real time for real business planning. Sure, I could be staying up late and working on it. Reality is, I needed a break. I needed to readjust and reorganize into the new life I have now that I'm back home. As I do this though, the wheels have been turning, albeit quietly in my head, I have some fun ideas for the bar concept and it seems that might be a better focus area for me right now.
I've found a great location in my neighborhood and the price, though high, includes lots of incentives to move forward sooner, rather then later. I could move ahead with less start up costs (I think) but still have lots of work to do. I'm back to researching, while also taking the Wharton classes starting in a few weeks to help get my head wrapped around what needs to happen to start the business. I'm no where near any sort of beginning, It's definitely more of the glimer in my eye state. The real questions are timing, cost and can I do it given some time frame issues with the real job.
I'm moving ahead with the concept, trying to get it all on paper now to flesh out the holes. I'm also trying to learn the laws of ownership, incorporation vs. llc, and well lots of Philadelphia zoning laws to figure it and deal with. I need to learn about inspections, licensing, zoning, labor laws, etc, etc. etc. I'm sure I haven't even scratched the surface.
Every morning or evening I walk by the location that I have in mind. Yesterday I scoped it out in detail and tried to see inside. I'm in contact with the broker of the lease and will try to set up a time to see the inside soon. While the location is great, I can't rush into getting it till I know everything else is in place. We can only hope that it'll sit for a bit longer while I work things out.
Until then, for fun I'm trying to decide on a name...I'm not asking for suggestions as the name is personal to me and there's lots of aspects to it that I need to hammer out. More to come on that shortly.
