I'm contemplating opening up my own business, advice appreciated

My father has much experience in this field. A great selection of specialty meats can make/break any small store. Def not much money to made on the grocery side, but you will make it up in Meats, Tobacco and Liquor. If there's not much in the area; create a small deli a serve daily plate lunches and possibly breakfast items. The money he made on a simple sausage and egg sandwich and a beverage was crazy.

The number of "repeat" business is what made it successful. I could name many people who would stop for breakfast, pack of cigarettes, then stop back on the way home for items to cook supper.

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Makinbacon

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I've decided that speciality meat market/ small grocery store is what Id like to open.

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Username checks out.

You will be working long hours and weekends. This gets really old.

Budget for real ads/marketing, social media interaction. Have watched many a food business come and go, and quality alone won't keep you afloat. Also, look carefully at locations....car counts at nearby intersections, local traffic patterns on different days of the week, etc. I frequently patronize the worst supermarket in my town, simply because it's on my route home and has an easy entry/exit parking lot at rush hour.

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You will be working long hours and weekends. This gets really old.

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I can second that notion. 60-70 hours a week, and all major holidays will be the norm.

Op you need to figure out your hours you will be open, then add at least an hour prior and after that along with at least 10 hours for book keeping, scheduling, etc. to figure out how many hours you will be working the first year. I would realistically plan 75 hours or more a week the first year.

I think there's a good market for smaller butcher type shops, but you really need to figure out what the community needs. You are going to have a hard time if you have something like a Whole Foods, Fresh Market, trader joe's close to you. Also, try to determine if one would open up in the next couple years. Last thing you want is to start crushing it in year 2 and a Whole Foods type of place open in year 3.

I did this five years ago today actually (facebook reminded me) I never looked back.

The worst thing is paying taxes to so many entities, but I vacation when I want, make as much or as little as I want. Have no bosses and am happy.

It's a blue collar field, but I prefer working with my hands than sitting in some desk. Every year I have made a great bit more than the year before.

Though learn to maximize deductions, unless you need to show income for a loan, then in that case claim every cent.

Good luck with a grocery store, not sure your background but food waste can get out of control. Make sure you set up a 501(c) that you can donate food to and then have it distribute it to charity. Allows you to write off food costs when foods get close to spoilage.

This is a reason I rarely get the special at restaurants.