Thinking about opening a business

[acarmelo1]

With a friend,

It will be a Computer Video Game Internet Cafe/Computer Repair shop.

If it fail well at least I tried.

I really dont want to reach 50 years old and tell myself I never tried.

Will doing this be a good idea?

we will need to ask for a Loan to start it. Like 15k at least.

[obamaismyuncle]

Sounds like a great idea! Goodluck.

[minet123]

Mello
Please the best way to lose a friend....go into business together
Come to the states become a gay porn star star first,it will be less painful and JJ can show you the ropes

[rm18]

put in an SBR point parlay to get the money for your business

[stealthyburrito]

If it fail well at least I tried.

well there's also the possiblility of being in financial ruin if you fail.

not to mention working like 80+ hours per week on your small business.

but if you really want to go for it.



carmelo you no speakey the engrish to good.

[acarmelo1]

well there's also the possiblility of being in financial ruin if you fail.

not to mention working like 80+ hours per week on your small business.

but if you really want to go for it.



carmelo you no speakey the engrish to good.

Yeah, I need to refresh my English. Writing on SBR helps.

[DrStale]

You really have to have the passion for it to be successful. You're going to be working constantly and it'll probably take years to turn a profit. Put a lot of thought into it first.

[Ace_of_Spades]

Unfortunately, this line of work will not be profitable. The Internet costs peanuts these days and video games? They are virtually free.

I'd suggest food, people always need food and especially greasy food.

[OmgUrMom]

are you both excellent with computers/ know business?

[acarmelo1]

I am excellent with computers and my friend knows business

[Vesuvius]

Sounds like a solid idea, would not get a loan though, save up first. $7500 each shouldn't be too bad.

[OmgUrMom]

so are you going to sell any food in your cafe and coffee ect? Do you have an area picked out that you think would be profitable?

[jjgold]

Small business not worth it because even if you make money it will e like $7-10 per hr when you add hrs up and expenses

[acarmelo1]

we were planning to sell like: Soda, bottle water, Snacks. But not real food

[minet123]

Well lets be really honest
Unfortunately you live in a country that is divided into
Those that Have(wealthy)
Those that Have not(Very poor)
and a very very very small middle class
Do the wealthy need an internet cafe...maybe but at some point portable wifi will make it's way down there
The poor...Of course they need internet access cheap but you need to be close to your customers and to do so you would need to open your business in a very unsafe section of town
1)Can you protect it for the neighborhoods undesirables
2)If some radical elements start using your cafe to spread "propaganda" being shut down will be the least of your problems when El Presdente secret police get a hold of you

[JW Cash]

With a friend,

It will be a Computer Video Game Internet Cafe/Computer Repair shop.

If it fail well at least I tried.

I really dont want to reach 50 years old and tell myself I never tried.

Will doing this be a good idea?

we will need to ask for a Loan to start it. Like 15k at least.

Just get yourself your Amway Sales Kit....and you will be set to go...

[2daBank]

Melo stop with this non-sense, what you need to do is strap some keys to your body and make your way to my neck of the woods.....keys gotta be cheap down there

[acarmelo1]

Melo stop with this non-sense, what you need to do is strap some keys to your body and make your way to my neck of the woods.....keys gotta be cheap down there

I might be killed on the process

[THE PROFIT]

Melo stop with this non-sense, what you need to do is strap some keys to your body and make your way to my neck of the woods.....keys gotta be cheap down there

exactly! Bring us some of that Columbian bam bam up here! Don't act like you've never had anything stuffed in your cornhole before, carm!

[2daBank]

I might be killed on the process

well bud, that is a risk im willing to take

[JW Cash]

With a friend,

It will be a Computer Video Game Internet Cafe/Computer Repair shop.

If it fail well at least I tried.

I really dont want to reach 50 years old and tell myself I never tried.

Will doing this be a good idea?

we will need to ask for a Loan to start it. Like 15k at least.

I am sure JJ will front you the 15k....if you agree to give him a pct of the profts..

[Masu485]

My friend started an Internet cafe business with his best friend also a few years ago... He's going broke now, losing money at an alarming rate, constantly fighting with his friend, the place is sucking him dry. It's so sad to watch. He had to move the place to someone's basement just recently.

[acarmelo1]

My friend started an Internet cafe business with his best friend also a few years ago... He's going broke now, losing money at an alarming rate, constantly fighting with his friend, the place is sucking him dry. It's so sad to watch. He had to move the place to someone's basement just recently.

Damn I hope he can pull it off

[2daBank]

My friend started an Internet cafe business with his best friend also a few years ago... He's going broke now, losing money at an alarming rate, constantly fighting with his friend, the place is sucking him dry. It's so sad to watch. He had to move the place to someone's basement just recently.

you see Melo....time you start listening to your friend banker if you wanna get paid...

[SaviorTebow]

If he markets it as more of a social gathering atmosphere, it could work. Only thing is though is that I find it hard to believe that he could get hot chicks to show up.

[Goat Milk]

1. Where will this business be located. What is the average income in the location where you are opening this Cafe/Shop. Is there anything else like this in the area? Is it located on main streets/in a neighborhood, specify location please.

2. You can't name something a cafe if you do not serve hot drinks. You should not be serving hot drinks in a computer repair shop anyway.

3. What does the market look like for these types of shops. Are computer repair shops doing well in the area? How many computers in Panama per household? How many per capita?

4. Have you drawn up economic models to analyze and forecast your predicted revenues, expenses, and profits? Have you drawn up supply and demand models? Have you thought about the DEMAND of your service over the next 10 years (remember, businesses are a long-term investment. You typically will not see profits after your first couple years). What can happen to the economy in the next 10 years to change the demand of your service? There are numerous factors that can cause the market to shift, and hence cause a shift in demand. Price changes to not cause shifts in demand. It has to be some kind of externality.

5. If you plan on getting a loan, you need a solid business plan. A Bank is going to want to know- at what point are we going to start seeing profits? Expenses must be outlined precisely.

Mello,

Remember that 80% of new businesses fail. Only 20% will succeed. The businesses that fail are not efficient and they were miscalculated. The Owners failed to precisely calculate their expenses, investments, and projected profit quarterly and annually. This is the biggest mistake in business. If you cannot forecast money flow, you will not be successful.

[OmgUrMom]

If he markets it as more of a social gathering atmosphere, it could work. Only thing is though is that I find it hard to believe that he could get hot chicks to show up.

panama kid is a player. do not underrate this guy he has skills

[acarmelo1]

1. Where will this business be located. What is the average income in the location where you are opening this Cafe/Shop. Is there anything else like this in the area? Is it located on main streets/in a neighborhood, specify location please.

2. You can't name something a cafe if you do not serve hot drinks. You should not be serving hot drinks in a computer repair shop anyway.

3. What does the market look like for these types of shops. Are computer repair shops doing well in the area? How many computers in Panama per household? How many per capita?

4. Have you drawn up economic models to analyze and forecast your predicted revenues, expenses, and profits? Have you drawn up supply and demand models? Have you thought about the DEMAND of your service over the next 10 years (remember, businesses are a long-term investment. You typically will not see profits after your first couple years). What can happen to the economy in the next 10 years to change the demand of your service? There are numerous factors that can cause the market to shift, and hence cause a shift in demand. Price changes to not cause shifts in demand. It has to be some kind of externality.

5. If you plan on getting a loan, you need a solid business plan. A Bank is going to want to know- at what point are we going to start seeing profits? Expenses must be outlined precisely.

Mello,

Remember that 80% of new businesses fail. Only 20% will succeed. The businesses that fail are not efficient and they were miscalculated. The Owners failed to precisely calculate their expenses, investments, and projected profit quarterly and annually. This is the biggest mistake in business. If you cannot forecast money flow, you will not be successful.

Thanks, lots of factors to see before doing it.

I am going to study some of the market first, and try to save some money so I dont have to Loan so much.

Thanks for all your replies.

[Marigold HD]

Good luck

[Goat Milk]

no problem. don't rush into anything unless you've done your homework. contact me if you ever need any business advice. i have taken 2 losing businesses (before i purchased them) and have made them profitable.

Good luck.

[acarmelo1]

no problem. don't rush into anything unless you've done your homework. contact me if you ever need any business advice. i have taken 2 losing businesses (before i purchased them) and have made them profitable.

Good luck.

Thanks