2000-4000 BTC loan - Hookah Lounge

[Rarity]

Obviously.

I'm glad to hear it, but no it's not obvious when you just spent pages and pages arguing against age verification in another thread for a business that this one evolved from.

[dank]

Obviously.

I'm glad to hear it, but no it's not obvious when you just spent pages and pages arguing against age verification in another thread for a business that this one evolved in to.

No, I didn't, I said the customer agrees to be at least 18 by purchasing.  Just like you agreed to certain terms when you registered here.  This is not a subject to discuss in this thread, however.

[Rarity]

Obviously.

I'm glad to hear it, but no it's not obvious when you just spent pages and pages arguing against age verification in another thread for a business that this one evolved in to.

No, I didn't, I said the customer agrees to be at least 18 by purchasing.  Just like you agreed to be a certain terms when you registered here.  This is not a subject to discuss in this thread, however.

So, you aren't going to check ID at the door for the Hookah Bar just ask people to agree they are 18?  You realize their agreement does not verify anything, right?  If the police send in people to test your security you are going to be fined for not checking ID.  If you decide to carry on like that you will eventually lose your business.

[dank]

Carry on.

[greyhawk]

You keep mentioning students as your primary demographic. Do you realize students have no buying power and will keep sipping that single Coke they ordered for 5 hours?

Do you realize how high the cost is to keep a full complement of beverages refridgerated? Because in existing bars this is a major issue.

Do you realize the costs associated with sanitary measures like wiping that puke off the walls of that toilet?

Do you realize the extent of the contracts you have fulfill to even be delivered that beverage your customers are screaming for?

[Rarity]

I don't think he is talking about serving alcoholic beverages, unless I missed it.  That makes it all a lot less complicated.  Hookah lounges have a lot of Middle Eastern/Islamic influence so booze isn't a big part of the equation there. 

[dank]

Don't students, at nice schools, get handouts from their parents?  I'm sure plenty of students have $10 to go to a hookah lounge.

I'll have a refrigerator with bottled waters and sell them a dollar a pop ($4 for a two dozen box, $24/box, 600% profit).

Puke off a toilet?  What type of place do you think I'm running?  This place is going to be a respectable business.

I'm not even going to be serving alcohol.

[Rarity]

You are going to want to do coffee and tea and fruit juices too.  Make it a nice place to hang out like a Starbucks but with smoking and a more relaxed atmosphere.  You will need breakfast and lunch traffic to make up for not serving alcohol in a college town on the weekends.  Best bet is to lose the smoking entirely because the smoke drives away non-smokers and it's immoral to kill your customers. Do an Arabian style coffee house instead of a hookah lounge.

[dank]

No.

[heatstroke]

Dank, have you abandoned the "buy me a car and a mansion, I'll pay you back when I'm a millionaire rockstar" investment plan?  Has that paid dividends yet?

Now you want people to buy you a business too?

It seems like you want bitcoiners to fund your entire life.  Truly, a captain of industry.

[dank]

Dank, have you abandoned the "buy me a car and a mansion, I'll pay you back when I'm a millionaire rockstar" investment plan?  Has that paid dividends yet?

Now you want people to buy you a business too?

It seems like you want bitcoiners to fund your entire life.  Truly, a captain of industry.

I'm still going to be a rockstar, but I need to do things before I get there.  I don't want a mansion, though it'd be nice to have a new car that doesn't have ants and mold in it.  I'm more focused on having people lend me money for business ventures rather than personal desires, not that I wouldn't take a loan on a car.

I think people should want to fund my life, anyone who believes in my dream anyhow.  I offer the best returns and this hookah business is a solid opportunity for an investor.

[BorderBits]

A Hookah bar in a college town, but no alcohol?  Who's gonna go to that?  What college town are you in?

[dank]

A Hookah bar in a college town, but no alcohol?  Who's gonna go to that?  What college town are you in?

They can get drinks their self.  A town that would really appreciate a hookah lounge, demographics couldn't be better.

[BorderBits]

A Hookah bar in a college town, but no alcohol?  Who's gonna go to that?  What college town are you in?

They can get drinks their self.  A town that would really appreciate a hookah lounge, demographics couldn't be better.

So, you have plans to complete market research that shows it's a town that would really appreciate a hookah lounge?  You said one just went out of business leading me to believe that your assumption could be wrong. 

What would you accomplish with $10-20k? With rent, labor, insurance, taxes, renovations, permits, stock, plus living expenses before you start turning a profit, I'd say that if market research shows that it would be a wise endeavor to pursue, you would need at minimum 10 times the amount you're asking for.  And, that's assuming that you would be seeing immediate traffic.  What's your previous experience in restaurant/service industry management?

[dank]

A Hookah bar in a college town, but no alcohol?  Who's gonna go to that?  What college town are you in?

They can get drinks their self.  A town that would really appreciate a hookah lounge, demographics couldn't be better.

So, you have plans to complete market research that shows it's a town that would really appreciate a hookah lounge?  You said one just went out of business leading me to believe that your assumption could be wrong.  

What would you accomplish with $10-20k? With rent, labor, insurance, taxes, renovations, permits, stock, plus living expenses before you start turning a profit, I'd say that if market research shows that it would be a wise endeavor to pursue, you would need at minimum 10 times the amount you're asking for.  And, that's assuming that you would be seeing immediate traffic.  What's your previous experience in restaurant/service industry management?

They didn't go out of business, they stopped serving hookahs.  It still operates as a restaurant.

$20k would be enough to get started, I haven't finished budgeting but 18-20 quality hookahs would cost $2000.  Set $6000 aside for rent, $5000 for furniture, $2000 for electronics and we have $5000 to spare.  I'm going to do most of the labor myself.  Why would I need $100,000 to open a hookah bar?  Sure, I can spend that much, but I can pass by with $20k and expand from there.

Due to the size of the facility I want, now, $30k-$40k may be more suitable as to finish the entire building, but I could make it happen off $20k.

[BorderBits]

Due to the size of the facility I want, now, $30k-$40k may be more suitable as to finish the entire building, but I could make it happen off $20k.

Remodeling can cost hundreds of thousands of dollars.  A commercial property broker will only let you have that work done by licensed professionals.  You should have enough of a line of credit to sustain the business for at least a year with the assumption of very little revenue.  If you are profitable immediately, great.  Then you pay back your lenders.  If you're not profitable immediately, then you have to have a good chunk of cash to keep the bills paid while making attempts to attract customers. 

[isthisreallife]

It's worth thinking hard about smoking regulations and where they're heading Dank. My feeling is the writing is on the wall for businesses which allow tobacco to be smoked on premises. It would be a shame to see you spend all this time and money setting up a bar only to have the govt regulate you out of existence shortly thereafter.

Good luck.

[Rarity]

I am still in negotiations on that matter and even once committed I will delegate responsibilities accordingly.  Details remain confidential.  I know you are upset to have missed out on this but your time has passed.  Please have respect for our young friend Dank and do not try and make this thread about me. 

[OneEyed]

Hello, my idea for Dank Glass has evolved thanks to a friend.  I now plan on opening a hookah bar in my area.  Hookah lounges can be a lucrative business and I have the perfect location for it.  There are several colleges in my town and only one other competing hookah bar.  I can easily compete with this hookah bar by pricing alone, but the unique psychedelic atmosphere in my lounge will further attract customers.  We may also accept Bitcoin.  I am more than capable of designing a logo, website and promotional material myself.

How is the other bar doing? How many customers do they have per night? What is the square footage of their premises? How many employees do they have on the payroll? Does it stay open during the vacation, when students are not on campus?

Since you're posting here, why not write "We will also accept Bitcoin"? A Bitcoin Hookah lounge may be more attractive to lenders or investors.

I'm seeking a 1000-2000 BTC loan, depending on the total expenses, for a maximum term of one year.  I can pay back the loan on a monthly basis if desired.

You should be seeking a USD loan, not a BTC loan. If the USD/BTC rate increases, it may become very difficult to reimburse your loan. Also, the USD lending rates would be much lower.

I'm willing to provide identification for this loan.  If you'd like to invest, please shoot me a PM so we can talk the finer details including interest.

Are you looking for lenders (who will get their money back + interests) or for investors (who will get dividends as long as they hold the shares)? What access to the business accounting information would they have? If you're looking for investors, will they have any voting rights?

Lenders will probably request much higher interest rates given the risk of this business failing, especially if no property is put as collateral. Investors will be there for the long term, but it means that you would share the profits forever should your venture succeed.

It's worth thinking hard about smoking regulations and where they're heading Dank. My feeling is the writing is on the wall for businesses which allow tobacco to be smoked on premises. It would be a shame to see you spend all this time and money setting up a bar only to have the govt regulate you out of existence shortly thereafter.

That happened in France, and many hookah bars became fast foods when smoking inside any public place got banned.

[JMAHH]

automagically

Is this on purpose or an epic typo?