You are going to have more upfront expenses then just renting space. Your biggest cost will be your marketing and explaining to potential customers why they should come to you and why you are better then where they go now.
If you want to know how much you actually will need - or as close as you can get - write a business plan - you can start by finding free sample plans online.
Do know that it usually takes a business 18 plus months to at least break even. Thus, you have to finance that 18 plus months. But, in this poor economy - it could take longer - even twice that time. Add in NY and even more time.
Write a business plan and you can answer your own question.
Lastly, want to know what space will cost (or any of your expense items) - then get out there and talk to landlords and find out.
---Business Money Today
Small Business Loans & Start Up Loans
I am working on starting up a coffee shop in Brooklyn NY, and was wondering if anyone had information about how much, specifically, I should be thinking will be a sufficient amount of money to start with financially.
I am thinking of about 1000 sqft.
Any information would be helpful, or perhaps being directed to the proper forum would be as well...
Thank you for your feedback... I guess I should have been a bit more specific. We have been working on this for about a year now. We are continuing to refine our business plan, and with that we are trying to get senses of start up costs from others who may have been in a similar place. We've found a few spaces for rent with what we believe falls within our monthly budget for rent. Marketing will always be a big constant.
Thanks for the thoughts on the other areas too.
Anyone else with more info, it's much appreciated.