There was a good 5 hours gap between meetings yesterday. After meeting a client, I had to be confined to a place as it was raining the whole day in SFO.
Normally, I use to walk around Yerba Buena gardens or sit alone and do some some soul-searching!!
Because of rain I sat inside the food court at Metreon Shopping Center!! Couldn’t do anything productive and started exploring my OnePlus 5T!! Found Amazon Prime APP and I immediately logged in and started watching a movie!!
There bumped in at this Taiwanese joint Sharetea Bubblicious!! Tried a cold tea and forgot it’s name!! It is Tea with milk with some rice like ingredients!! The taste was simply wow!!
I think I must make a visit to China & Taiwan to learn making tea and coffee from them!!
It was an ordinary day at the shop!!! I went to the shop by 4 PM to work on some new beverages we were planning to introduce!!!
Already rumours have started to spread about CM!!! It was panic and I could see the roads crowded and people driving crazy to reach home!!!
Around 5.30 PM there was a news from Thanthin TV that the CM is dead!!! Within minutes all the shops, showrooms & offices were closed!!!
That is when thought of keeping the Shop open until our normal closing hour!! I asked Jegan if we could do that and he spontaneously said we can!!!
Then what?? We sent all the lady staff home and we kept the shop open!!! It was electrifying crowd and we couldn’t manage!!!
In 3 hours we had almost 100+ bills, 200+ foot falls and all the raw materials at shop got over!!! In fact we closed the shop only when the milk got over!!!
In between there were some party workers who insisted to shut the shop and the situation was diffused by Jegan!!!
We had people thronging the shop as there were no shops… People were requesting for;
Milk for kids!!!
They were asking for all the cookies as they had no stock of snacks!!!
Some had not choice to eat and they settled for coffee and snacks!!!
My main aim to go for the risk is to get the mileage and to earn the customer visibility & loyalty!!! Fortunately we were able to strike both as customers were thanking us for keeping the shop open against the vulnerability!!!
Finally I’d like to thank Jegan, Sabastian, Ravi & Chandru for supporting me on this risky endeavour!!!
Two weeks back I had a discussion with my CFO Mr. Bala and we decided to rework on our Coffee Shop initiative!!!
Like we anticipated there were lots of hiccups on reworking on big Coffee Shop. It involved many challenges like;
Finding Coffee/Snack Menu
Finding a Shop
Working on Interiors
Working ways options to need capital needs!!
Then with lot of delebration we have decided to go for a franchise for a small coffee shop kiosk.
By doing this we thought;
We will have a quick start!!
Reduce on Capital Cost!!
Can meet our requiredCapital expanses through internal sources!!
Franchiser takes care of supply chain and stafftraining!!
With that thought we immediately arranged a meeting with a franchiser and made an agreement him, we fixed a place and as always it was the bank which was playing spoilsport to fund us in spite of holding an FD!!!
Bank offered us 80% of our FD as loan and we asked for 100% as we have a working relationship with the bank for a long time and also we have;
Current Account which has no interest!!
A 60+ salary account
In spite of threatening the bank that we have to look for another bank they stretched the limit to 90% of FD. But we agreed for this ask the money was sufficient to start!!
When we thought we have set everything is place and we were good to start. The place we finalised couldn’t be fixed as the person incharge backtracked for some reasons.
Now we are aggressively looking for place!! It is a Coffee Shop Kiosk and we need 10 * 10 sq ft space in some prime locality or commercial place which can get us lot of footfalls!!
We are looking for a place in following locations.. Kindly pass a message if you have any reference;
Went to CCS after a while and it was a long business meeting with Bala.. After wrapping our business discussions, it was chill out time and Bala casually asked about the status of Coffee Shop initiative!!!
It all started from here and I was explaining Bala on where we were struck and the funding required for the project!!
Then Bala immediately opened an avenue through NEEDS Program Tamil Nadu and this one spark was enough!!!
Immediately we contacted our old consultant and Bala referred a new consultant!!!
In just a week he worked on;
Finding the place!!
Working out funding options thru NEEDS!!
Working out Over Draft facility with existing banker based on our relationship!!!
With the funding challenge solved and with the place finalised, it is just setting up the shop!!
Yesterday Bala had a meeting with a vendor who has expertise in setting up coffee shops and got all the prerequisites!!!
Now it is time to get quotation from multiple vendors and work on executing the plan!!!
Let me take this opportunity to thank Bala for the Push!!! My next blog would be with the snaps of our Shop!!